Meet Sanjiv Goenka, Mukesh Ambani’s pal and the Indian billionaire who just splurged on the new IPL cricket franchise, Lucknow
All eyes are on Indian businessman Sanjiv Goenka after his company, RP-Sanjiv Goenka Group (RPSG), paid close to a billion dollars for new Indian Premier League (IPL) team, the Lucknow franchise. It was announced that two new teams would form part of the upcoming IPL 2022 season after a recent auction. CVC Capital won the Ahmedabad franchise, while Goenka walked away with Lucknow. The mammoth investment has resulted in Goenka and his cash being the talk of town.
Here’s what you need to know about the man who splashed out big for his love of cricket.
His money stream
So where does Goenka get all of his cash from? He is the chairman of the RP-Sanjiv Goenka Group, which has an asset base of more than US$4 billion, according to Forbes. Times of Sports reports the group has more than 50,000 employees across its portfolios. The company focuses on six sectors including power and natural resources, carbon black, retail, media and entertainment, as well as IT and education. The group’s flagship business is CESC, a 122-year-old power utility.
His family
Goenka is the younger son of the late Dr Rama Prasad Goenka, or R. P. Goenka. According to the RPG Group, Rama was known as the “takeover king” after he acquired 11 companies when he first started in the business world. As part of his succession plans, the business was amicably divided between Sanjiv and his brother Harsh. Harsh took control of RPG Group, taking the position of chairman, while Sanjiv helmed RP-Sanjiv Goenka Group. After his father’s death in 2013, Sanjiv rolled out a new corporate identity and let go of the RPG tag, reports The Asian Age.
Sanjiv is married to Preeti, a qualified interior designer, and the couple have two children, Shashwat and Avarna.
His son’s lavish wedding
In January 2016, Sajiv’s son Shashwat got married to Shivika Jhunjhnuwala in a crazy rich wedding in Kolkata. According to BollywoodShaadis, the three-day extravaganza took place at the ITC Sonar Bangla and saw more than 7,500 guests. These included big shot businessmen, high-profile politicians as well as Bollywood celebrities including Farhan Akhtar, Rituparna Sengupta and Asha Bhosle. Well-known performing troupe Cirque du Soleil is believed to have performed at the wedding too.
The Ambani connection
Education is key
Sanjiv told Telegraph India that he is invested in education in India and wants to play a bigger role in schooling in the country. He said it was one sure way to influence the future and, as the world becomes more integrated, education will become more pivotal. He added that he was an avid reader as a child and used to read between two and three books a week. According to the interview, Goenka said he loved the series The Famous Five, The Secret Seven and Malory Towers by British author Enid Blyton.
His love of cricket
Goenka’s mammoth IPL buy-in isn’t his first foray into cricket. His group were the owners of two-season IPL franchise Rising Pune Supergiant, which played in the IPL in 2016 and 2017. According to The Twelfth Man, the team failed after original IPL members Chennai Super Kings and Rajasthan Royals made a comeback after a two-year suspension. With his latest purchase, Insider reported that Goenka said he would be focusing on younger players with big potential.
- The son of ‘takeover king’ R. P. Goenka, Sanjiv splashed close to a billion dollars on his new cricket team, with CVC Capital winning the auction for Ahmedabad
- Sanjiv threw his son Shashwat a lavish wedding in Kolkata in 2016, attended by Bollywood royalty and Akash and Isha Ambani, with Cirque du Soleil reportedly performing