Ashwin Suryakant Dani

Death-28 Sept 2023
Birth- NA

Indian paints magnate Ashwin Dani, non-executive director of India-listed Asian Paints, passed away in Mumbai on Thursday at age 80 after a brief illness.

Dani’s net worth, derived from his stake in Asian Paints, was $8 billion at the time of his passing. In the financial year ended March, Asian Paints posted a revenue of 345 billion rupees ($4.1 billion) and a net profit of 41 billion rupees, which rose 19% and 36% respectively from a year earlier.

Since joining Asian Paints in 1968, Dani played an important role in building it into one of Asia’s largest paint companies. He was inducted on to the company’s board in 1970 and was appointed vice chairman and managing director from 1998 to 2009. Thereafter, the company was run by a professional CEO and Dani was both non-executive director and vice-chairman. In 2018, he became chairman for three years.

Born in Mumbai, Dani earned a bachelor’s degree in chemistry from Mumbai University, India, in 1966 and went on to study for a master’s degree in chemical engineering from the University of Akron in the U.S. He began his career in Detroit-based Inmont Corp. as a development chemist and returned to India to join the family-owned business.

Asian Paints was cofounded by Ashwin’s father Suryakant Dani along with three others in 1942. While the heir of one cofounder sold his stake years ago, the heirs of two others, the Vakil family and Mahendra Choksi, retained theirs and feature among India’s richest.

Dani is survived by his wife Ina, a yoga teacher, and their three sons. His youngest son, Malav, is currently a non-executive director of Asian Paints. His older son, Jalaj, is chairman of robotics firm Addverb Technologies and is married to billionaire Mukesh Ambani’s cousin Vita.

====================

After India’s independence in 1947, poverty was a significant issue in country. More than 90 percent of the population was illiterate and poor. In such circumstances, some industrialists and businessmen took steps toward making the country self-reliant by providing employment to millions of people in industry and business. These figures should never be forgotten, and with this aim, every citizen can take inspiration from them, become self-reliant themselves, and empower others, thereby strengthening the country economically and strategically. We established this news portal, www.shashvatsatya.com for this noble cause.

Shekhar Kapoor
Founder www.shashvatsatya.com
Email. shashvatsatya.delhi@gmail.com
Whatsapp 9811652105