Uday Kotak

Uday Kotak Net Worth, Age, Family & Biography
$13.3B Real Time Net Worth #127 in the world today

About Uday Kotak

Executive vice chairman and managing director of Kotak Mahindra Bank is Indian banker Uday Suresh Kotak. He is a billionaire. In the early 1980s, Kotak made the decision to start his own business rather than accept a lucrative position with a multinational corporation because India was still a closed economy and economic growth was slow.

Uday Kotak
Uday Kotak, Managing Director of Kotak Mahindra Bank poses for a picture at the company’s corporate office in Mumbai January 15, 2015.

Uday Kotak Family

Uday Kotak, the pioneer and Chief of Kotak Mahindra Bank, was brought into the world on 15 March 1959 in Mumbai, India. He was naturally introduced to an upper-working class Gujarati Lohana joint family and experienced childhood in an enormous joint family. Kotak’s family was initially associated with the cotton business and had relocated from Karachi to Mumbai.

Kotak was brought up in a joint-family Gujarati household with 60 people living together in a shared kitchen. The family was initially into exchanging. He referred to this as “Free enterprise at work and Communism at home”. His two diversions had been cricket and playing the sitar. In a 2014 meeting with NDTV, he conceded that he was done seeking after his playing of the sitar. His choice of career was influenced by his mathematical prowess. He graduated from Sydenham College with a bachelor’s degree and Jamnalal Bajaj Institute of Management Studies with a postgraduate degree in management studies in 1982.

Uday Kotak Career

Kotak started his career working for a small financing company before starting his own business in 1985, Kotak Capital Management Finance Ltd. Kotak Mahindra Bank, which is now one of India’s leading private banks, took over the business later on. In November 2014, Kotak completed a $2.4 billion acquisition of rival ING Vysya Bank, which is partially owned by the Dutch financial services group ING. As a result, shares of Kotak Mahindra Bank reached an all-time high, and Kotak almost doubled his wealth in 2014.

He expanded his business into a variety of financial services over the following few years, establishing a prominent presence in stockbroking, investment banking, car finance, life insurance, and mutual funds, as well as bill discounting.

Kotak Mahindra Finance Ltd. became the first corporate entity in India’s history to receive a banking licence from the Reserve Bank of India on March 22, 2003. His 14-year partnership with Goldman Sachs came to an end in 2006 when Goldman Sachs sold Mr Kotak its 25% stake in two subsidiaries for $72 million.

Uday Kotak Facts

Even with having been engaged twice, Prokhorov has never been married. Soon after buying the Nets, he promised to get hitched in the event that the Nets had not brought home the NBA title in 5 years or less.

Uday Kotak
Finance Minister Nirmala Sitharaman, Uday Kotak (2R), President CII and Chandrajit Banerjee (R), Director General CII at the National Council meeting of Confederation of Indian Industry (CII) in Delhi. 

Uday Kotak Net Worth

According to the billionaire list of 2023, his net worth is $13.6 billion. Uday Kotak is the CEO of Kotak Mahindra Bank and a prominent figure in the Indian banking industry.

Personal Information

Full Name Uday Suresh Kotak
Father’s Name Suresh Kotak
Mother’s Name Indira Kotak
Siblings Arti
Date Of Birth 15 March 1959
Age 64 Years
Birth Place India
Height 5’ 9”
Education MBA from University of Mumbai
Net Worth $13.3 Billion
Profession Businessman
Relationship Status Married
Uday Kotak
Uday Kotak, founder, managing director and chief executive officer of Kotak Mahindra Bank, during the launch of CII’s 100 days agenda for the new government, on June 3, 2019 in New Delhi, India. 

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