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Monday, April 22 2024

Chandrayaan-3 Success Makes Ramesh Kunhikanna a Billionaire

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For the first time this year, Ramesh Kunhikannan has been included on the Forbes Billionaires List 2024. With an astounding $1.2 billion in net worth, Mr. Kunhikannan has established himself as one of the richest people in the world, right up there with Elon Musk, Jeff Bezos, and Mukesh Ambani. Mr. Kunhikannan, 60, became a billionaire after India’s space mission, Chandrayaan-3, achieved success in August 2023.

5 facts about Ramesh Kunhikannan:

Ramesh Kunhikannan is the founder and managing director of Kaynes Technology, an electronics manufacturer headquartered in Mysore, India.

Mr Kunhikannan holds a bachelor’s degree in electrical engineering from the National Institute of Engineering, Mysore.

He founded Kaynes Technology in 1988 as a contract manufacturer of electronics. His wife, Savitha Ramesh joined the company in 1996 and now serves as the company’s chairperson.

By providing the electrical systems for the lander and rover on India’s historic Chandrayaan-3 mission, Ramesh Kunhikannan made a significant contribution to the mission’s successful August 2023 lunar landing. The ISRO mission Chandrayaan-3 had a budget of about ₹615 crore.

With the success of Chandrayaan-3, Ramesh Kunhikannan, who owns a 64% stake in Kaynes Technology, saw a significant increase in the company’s share values. This came after the company’s already outstanding performance, which saw the value of its shares triple since it first appeared on the stock market in November 2022. As a result, according to Forbes, Mr. Kunhikannan’s net worth soared to $1.2 billion.

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