Harshad Mehta Net Worth: House, Cars, Scam, Net Worth

Notably, Harshad was not just a simple business man, he was the biggest stock market manipulator. In addition to this, Harshad was a millionaire whose life journey became the script of a Bollywood movie. Moreover, you might want to know more about this amazing personality in depth. Right? Well, in this blog, you will be provided with all the relevant and accurate information about this personality in detail. You just need to stick around with this blog till the end of the discussion. This blog is all about Harshad Mehta Net Worth.

About Harshad Mehta Net Worth

Evidently, Harshad Mehta was a great businessman who later became a stockbroker. He became one of the biggest of the stock market and was on top of the town in stock marketing. In addition to this, Harshad took the Indian stock market by storm during the 1990s. You might have heard or watched popular web series Scam 1992, which was released in 2020. It was based on one of the biggest scams in Indian history. Moreover, the mastermind behind the scam was Harshad Mehta only. 

Harshad Mehta Net Worth: Early life and Career

Harshad Shantilal Mehta, popularly known as Harshad Mehta was a stock market broker who was born in 1954 in Rajkot, Gujarat, India. Notably, he had a simple lifestyle in Gujarat and further moved to Mumbai after completing his studies. He tried his hands at every sales jobs before settling down at New India Assurance Limited in Mumbai. After that, he learnt about stock market and quit the job in 1980s. Later he joined a brokerage from where he met Prasann Pranivandas. Under the guidance of Prasann, he learnt and created his mark in stock market. This gave him the titles of Big Bull and Amitabh Bachchan of the Indian stock market. 

Harshad Mehta house in Mumbai 

Harshad Mehta used to live in an eight interconnected lavish apartment in Madhuli society. It comes under one of the posh localities of South Mumbai, Worli. In addition to this, the property is the facing apartments spread over two floors of the society. His house consisted of eight apartments converted into a combined house to accommodate his family. Moreover, the combined space of these apartments made an area of 12,600 square feet. In addition to this, one of the apartments in the society belongs to her mother. Moreover, after his imprisonment and death, his house was auctioned off and sold for 32.6 crores. 

Harshad Mehta Net Worth: Harshad Mehta cars 

Mehta was very fond of cars and was envied by mass following and fame. He owned a fleet of 15 to 20 cars including imported Lexus LS 400. Notably, he was the only person in the country to own such a luxury car at that time.

Harshad Mehta Net Worth: Overview 

Name – Harshad Mehta

Profession – Businessman and stock broker

Date of birth – 29th of July, 1954

Place of birth – Rajkot, Gujarat, India

Wife – Jyoti Mehta

Son – Aatur Harshad Mehta

Brother – Aswin Mehta, Sudhir Mehta, Hitesh Mehta

Parents – Shanti Lal Mehta and Rasilaben Mehta

Harshad Mehta Net Worth: Scam 1992

The Scam of 1992 was a fraud committed by Harshad Mehta in India’s stock market. Notably, when he committed this fraud, a person did not need to maintain any fixed minimum balance to buy stocks. In addition to this, there was no need for the broker to have a Demat account to sell stocks. Hence, this lacuna and loopholes in the Indian stock market helped him to use these gaps in the system for his advantage. Evidently, he built a diversion of stocks. Not only this, he illegally obtained money from several well-known banks such as National Housing Bank, SBI and UCO Bank, using fake bank receipts. 

Notably, he committed more than 1 billion frauds. to buy stocks from BSE (Bombay Stock Exchange). This led to a massive loss of 4000 crores to the banking system, and the Indian stock market collapsed severely.

Net worth of Harshad Mehta

Notably, his net worth when he was alive was estimated to be around $475 Million, which could be roughly converted into INR 3542 Crores. His wealth enormously increased while he was at the peak of his stockbroking career. However, a lot of people faced a huge financial loss due to the biggest scam done by him.

Final words

In brief, Harshad Mehta Net Worth was beyond imagination as a businessman. He was a businessman who later become an infamous stock broker. He was a risk taker, even though he knew the odds were against him. His life shows the journey from being a common man to becoming one of their known personalities. Tell us your thoughts on him the comment section. See you later in the next blog. Further, if you still have any doubts or questions about him, you can drop them in the comment box.

Trivia

• Harshad was born in a lower middle class family to Mr Shanti Lal Mehta and Rasilaben Mehta. 
• Notably, he done his initial schooling at Ghatkopar. 
• The book- The Scan: Who Won Who Lost is about Harshad Mehta scam.
• In addition to this, Bollywood movie called Big Bull starring Amitabh Bachchan is also based on him.