World's Richest Ever: A Gujarati Businessman Who Was Known As 'Merchant Prince Of India' Was Wealthier Than Gautam Adani, Mukesh Ambani, Ratan Tata

Richest Businessman In History: A businessman in the Mughal Empire named Virji Vora was born in Surat. The East India Company Factory Records claim that, at the time, he was the richest trader in the world. A significant amount of money at the time; his personal worth is listed at 8 million rupees (Rs. 80 lakh). Various people have referred to him as a "merchant prince" and a "plutocrat."

World's Richest Man

Indians have continued to play a prominent role in many historical events, even though we only achieved freedom in 1947. Indians have historically been quite active in the business world, and the world has profited from their many prosperous enterprises. The British East India Company dubbed one such businessman, Virji Vora, the richest man in history during the Mughal Empire. Vora was well-known during that time. According to reports, Virji Vora played a key role in financing the East India Company between 1617 and 1670. Along with banking and money loans, Virji Vora also traded in a wholesale business. He established a monopoly on some Surat imports and dealt with a wide range of products, including gold, opium, bullion, coral, ivory, cardamom, pepper, and lead. He served as both the British and Dutch East India Companies' client and was an important source of credit.

Virji Vora: Background

Although the East India Company frequently records Virji Vora's commercial transactions, little is known about his ancestry or family. He has received the labels of Muslim, Hindu, and Jain, respectively. Professor K. H. Kamdar wrote a research paper about him in 1968 based on data from the Bombay Archives and Jain papers at Surat and Baroda. Virji may have been a Lonkagacchiya Sthanakvasi Jain, according to this analysis. He might have been of the Srimali Oswal Porwal caste. He held the title of Samghapati or Sanghavi, which is given to a lay leader who significantly contributes—for example, by building a temple or organizing a significant pilgrimage—and is actively interested in religious affairs.

Virji Vora: Sole Monopolist

Virji Vora was a "sole monopolist" who was known for buying up the entire stock of a product before reselling it for a significant profit. Virji Vora routinely loaned money to Englishmen who wanted to launch their own modest businesses. According to reports, when the Mughal emperor Aurangzeb was having money problems during his effort to conquer the Deccan region of India, he sent an ambassador to Virji Vohra in search of funding. Virji Vora sustained a serious injury when Shivaji Maharaj, the leader of the Maratha tribe, conquered Surat in 1664. On January 7, 1664, Maratha soldiers demolished his house and storage facilities.

The business of Virji Vora was widespread throughout India as well as the port cities along the Red Sea, Persian Gulf, and Southeast Asia. During the period, Virji Vora's had representatives in almost all significant commerce hubs, including Vadodara, Baruch, Ahmedabad, Agra, Burhanpur, Deccan, Goa, Calicut, Bihar, and Golconda. Mukesh Ambani, the richest man in India, would not have as much wealth as Virji Vora does if inflation were adjusted to the present. Virji Vora was without a doubt the richest businessperson India has ever seen, thanks to the enormous fortune he had at his disposal.