Summary: Sant Singh Chatwal is a successful Indian-American businessman who has made his fortune through various industries. With a net worth estimated at $1 billion, Chatwal is considered one of the richest South Asian businessmen in the world.
1. Early Life and Career
Sant Singh Chatwal was born in 1946 in Punjab, India. He grew up in a middle-class family and was the youngest of six siblings. Chatwal’s father was a farmer, and as a child, Chatwal used to help his father in the fields.
Chatwal moved to the United States in the 1970s, where he started his career by working odd jobs. In the late 1980s, he founded Hampshire Hotels and Resorts, which is now one of the largest privately-owned hotel companies in the world. He later diversified his business interests and invested heavily in real estate, aviation, and entertainment.
Chatwal’s business empire now spans across various continents, with interests in over 50 countries. He has also been actively involved in philanthropic work, particularly in the fields of education and healthcare.
2. Business Ventures
Hampshire Hotels and Resorts is Chatwal’s most successful business venture to date. The company has a portfolio of luxury hotels and resorts across the United States, Europe, and Asia. Some of the company’s most famous properties include the Dream Hotel in New York City, the Tides Inn in Virginia, and the Royal Park Hotel in Tokyo.
Aside from his involvement in the hospitality industry, Chatwal has also invested heavily in real estate. He is the founder of the Chatwal Group, a leading real estate investment firm based in New York City. The Chatwal Group specializes in acquiring and repositioning underperforming commercial real estate assets, with a focus on office and retail properties.
Chatwal has also invested in the aviation industry. In 2015, he acquired a majority stake in the Indian airline, Ashok Airline. Chatwal aims to turn the airline into a major competitor in the Indian aviation market, which is currently dominated by IndiGo and SpiceJet.
3. Personal Life
Chatwal has been married twice and has four children. His first marriage was to Daman Chatwal, with whom he had two children. He later divorced her and married his current wife, Kamal, with whom he has two more children. Kamal is also actively involved in Chatwal’s business ventures, particularly in the hotel and hospitality industry.
Chatwal is known to have close ties with several prominent politicians, including former President Bill Clinton and current New York Governor Andrew Cuomo. He has also been a major donor to various political campaigns over the years, supporting both Democratic and Republican candidates.
Despite his success in the business world, Chatwal has had a few setbacks in his personal life. In 2014, he pleaded guilty to violating federal campaign finance laws by funneling illegal donations to three unnamed candidates for federal office. He was sentenced to three years of probation and ordered to pay a fine of $500,000.
Conclusion
Sant Singh Chatwal’s net worth of $1 billion is a testament to his hard work and entrepreneurial spirit. His success in the hospitality, real estate, and aviation industries has made him one of the most influential businessmen in the world. Despite his legal troubles, Chatwal remains committed to growing his business empire and giving back to society through his philanthropic work.