Harshad Mehta Net Worth – Who was Harshad Mehta?
Harshad Mehta Net Worth: Harshad Mehta was a Stockbroker who got arrested for alleged involvement in a stock market scam in 1992 and died in 2001 in police custody. He was born on July 29, 1954, in Rajkot, India.
Mehta was under the custody of the High Court of Mumbai and the Supreme Court of India for his involvement in a financial scandal valued at 100 billion rupees (the US $ 1.3 billion) which took place on the Bombay Stock Exchange ( ESB).
6 Major Facts of Harshad Mehta Net Worth
- He was not just a stock broker but a millionaire on whom films and seasons came up, also known as Big Bull or Amitabh Bachchan of the Stock Market.
- He was famous for masterminding the 1992 Stock Market Scam of over INR 4000 Crore Rupees. The Scam created a huge blunder making the entire Securities system collapse.
- The Harshad Mehta scam is the story of a man of humble origins who experienced an extraordinary rise and an even more extraordinary fall in his lifetime.
- Mehta made and lost his luck in the stock market and eventually died while serving time in Thane prison for acting as a key conspirator in the 1992 India stock scam that caused the stock market to crash.
- Although he died unceremoniously at Thane Civil Hospital of chest pain, Harshad Mehta had enjoyed a mass that no one before or after him had. All cases against Big Bull were closed shortly after his death in 2001.
- A self-made millionaire, Harshad Mehta’s net worth stood at 3,542 crores when he was on top of his stock brokerage game.
More About Harshad Mehta
- Full name – Mr. Harshad Shantilal Mehta
- Birth: 1954
- Death: 2001 (at the age of 47)
- Place of death: Thane Civil Hospital
- Cause of death: Heart attack
- Education: B Com from Mumbai’s Lala Lajpat Rai College
- Wife: Jyoti Mehta
- Son: Aatur Mehta
- Father: Shantilal Mehta
- Mother: Rasilaben Mehta
- Brother: Ashwin Mehta
- Cars: Lexus Starlet, Toyota Corolla, Toyota Sera
- Home: Madhuli Cooperative Housing Society at Worli
Movies on Harshad Mehta Net Worth
It follows the life of Harshad Mehta, a stockbroker who took the stock market to dizzying heights and its catastrophic crash.
The Big Bull
Another movie named “The Big Bull” is Harshad Mehta’s biopic; its covert promotions are based on the life of the famous stockbroker Harshad Mehta. The story is on actual financial market events between 1990 and 2000 involving Harshad Mehta and his financial crimes.
Who Exposed Harshad Mehta Net Worth Scam?
On April 23, 1992, journalist Sucheta Dalal denounced illegal methods in a Times of India column. Mehta illegally turned to the banking system to finance her purchases. A typical “ready-forward” transaction involved two banks brought together by a broker rather than a commission.
He was born in Bombay. Sucheta, a lawyer by training, joined The Times of India in the early 1990s as a reporter for its business and economic side. She exposed cases other than the 1992 Harshad Mehta scam, the Enron scam, the Industrial Development Bank of India scam, and the 2001 Ketan Parekh scam.
And also, she was the mother of all financial scandals in India, and she exposed the total anarchy and the lack of vigilance in the money markets.
Further, she allowed funds to go with impunity from banks and corporations to stock exchanges. So, she saw billions of millions of bank funds flowing in and out of brokerage bank accounts called “accepted market practice, Sucheta wrote on her website.
Property of Harshad Mehta Net Worth
Harshad Mehta’s financial fraud value was $ 1.4 billion when India lacked a law criminalizing insider trading. The 1992 scam led to the extension of the Securities and Exchange Board of India (SEBI). Harshad Mehta has primarily focused his energy on making the most of the country’s banking system loopholes. However, Harshad Mehta’s real estate investments also suited a man for his stature at the time.
Mehta’s Growmore research and asset management offices spread across an entire floor of Maker Chambers V in Nariman Point, one of the most expensive offices in the world. so, his home was imposing. However, Harshad Mehta did not own any property abroad.
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House of Harshad Mehta Net Worth
Harshad Mehta’s net worth was a 15,000square-foot penthouse in the Worli Sea Face area of Mumbai that offered amenities like a billiard room, a nine-hole golf course, and a mini-theater.
This penthouse was created by interconnecting nine apartments on the third and fourth floors of the 14-story Madhuli Housing Cooperative Society in Worli. These attic amenities were utterly unheard of in India in the 1990s when the economy was beginning to open up.
Besides, Harshad Mehta’s home, which housed his entire extended family, was impressive for those familiar with the space crisis in Mumbai and its impact on housing prices in the city.
Among the many cars Harshad Mehta owned were the Lexus Starlet, Toyota Corolla, and Toyota Sera.
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