LIC Agent to 2.5 Billion Net Worth: Sonalika Group, founded by Lachhman Das Mittal is India’s third-largest tractor maker by market share.
Lachhman Das Mittal Net Worth
Mittal, who hails from Hosiarpur, Punjab, started his own entrepreneurial journey in 1996 by founding Sonalika Group which has now become a leading tractor maker in the country. Sonalika Tractors has turned Mittal into India’s oldest billionaire – his net worth is $2.5 billion today. Mittal’s journey is awe-inspiring as once he shared a very interesting story where he was rejected by the Maruti Udyog for the dealership. Mittal, in an interview with Business Standard, said, “Once I applied for a dealership of Maruti Udyog but was rejected. Today, I give out dealerships”.
He first entered the Forbes Billionaire list in 2013.
Sons Carry Forward Father’s Legacy At Sonalika Group
Lachhman Das has now stepped down from the company’s day-to-day affairs and his sons have taken over the helm. Mittal’s eldest son Amrit Sagar is the company’s vice-chairman, while his youngest son Deepak is the managing director. Mittal’s second son is a well-established doctor in the US while his daughter Usha Sangawan is LIC’s first female managing director.
