The chairman of Muthoot Group, MG George Muthoot, passed away on Friday at 72 in New Delhi.
George was the third generation entrepreneur of his family, who became chairman of the Muthoot group. He took over as the chairman of the group in 1993.
Muthoot Finance Ltd became the largest gold loan company in India with a market capitalisation of over Rs 51,000 crore and a total income of Rs 8,722 crore under George’s leadership.
Forbes Asia Magazine listed George Muthoot as the 50th richest man in India in 2011 and 2019. His ranking climbed to 44th richest in India according to Forbes’ India’s Richest list.
