User:Gouri28

[/Shashi Ruia and Ravi Ruia] Shashi Ruia is the Chairman of Essar group.

The Ruias have entered the Forbes list of the 10 richest Indians for the first time with a wealth of $12 billion, and are at the seventh spot. The Essar Group was founded over three decades ago by the Ruia family who migrated to Mumbai from Rajasthan.

The Ruias have been in business since the 1800s.

In 1969, following their father Nand Kishore Ruia's death, Shashi and Ravi Ruia took over the group. Soon, they transformed a small family business into a diversified corporation dealing in shipping, steel, oil and gas, and telecom.

In 2007, the brothers earned $6.3 billion selling their 33 per cent stake in Hutchison-Essar to Vodafone. Shashi Ruia has been instrumental in the company's foray into several new businesses like steel, power, construction, shipping, and oil & gas.

Ravi Ruia is known for his entrepreneurial skills, innovative spirit and an eye for detail that has enabled the Essar group gain global recognition. Essar is the fourth largest industrial house in India in terms of assets.

Shashi's sons Prashant & Anshuman work in the group; Ravi's daughter Smiti publishes Time Out in Mumbai.

Source:(http://specials.rediff.com/) http://www.forbes.com/lists/2006/10/OVAG.html