Achal Bakeri’s profile picture

Achal Bakeri

Achal Bakeri’s profile picture
Net worth 2018: $1.72 Billion
Industry: Manufacturing
Residence: Ahmedabad, India
Country: India
Children: 2
Education: Master of Business Administration, Marshall School of Business
BIOGRAPHY

Achal Bakeri was born in Ahmedabad, India, India. Achal Bakeri is #1414 in List Billionaires People In The World. Property developer's son Achal Bakeri branched out into manufacturing in 1988 by borrowing $1,500 from his father. Today his Bombay Stock Exchange-listed Symphony, in which he owns close to a 75% stake, is the world's biggest producer of air coolers, or what he calls "the common man's air conditioner. " It sells 1.2 million units annually in 60 countries. Symphony air coolers are used in such places as the walkways at Heathrow airport, Wal-Mart stores and temples in India. Symphony also owns Munters Keruilai, a Swedish-Chinese joint venture, which gives it a foothold in China and the Asean region. Assets include a share in the family's real estate holdings in and around Ahmedabad city.

NET WORTH STATISTIC
2015

$1.05 Billion

2016

$1.1 Billion

2017

$1.3 Billion

2018

$1.72 Billion

TIMELINE
2017

In February 2017 Symphony launched air cooler with multiple features like touch screen, voice assist, mosquito repellent

2002

The company was about to go bankrupt in 2002, but was revived as world's largest air-cooler manufacturing company

1988

In February 1988, Bakeri started Symphony Limited in Ahmedabad with a seed capital of INR 100,000

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