India’s billionaire count just increased by one with the rise of Deepinder Goyal, the founder and CEO of a leading food delivery company. With a staggering net worth of over Rs 8,300 Crore, Goyal has joined the ranks of the country’s richest individuals and emerged as India’s wealthiest professional manager. Notably, Goyal was also featured as one of the judges on Shark Tank Season Three, a show widely popular among audiences. Here’s everything you need to know about India’s newest billionaire.
The Rise of Deepinder Goyal: Founder and CEO of Zomato
Deepinder Goyal co-founded Zomato, one of India’s most popular food delivery services, and currently serves as its founder and CEO. Goyal’s ascent to billionaire status followed a record rally in the company’s shares, which have surged over 300% since the low of July 2023. The stock reached a new high of Rs 230 on the BSE, with its market cap surpassing Rs 1.8 trillion. Goyal, holding 36.95 crore shares (a 4.24% stake in the company), has thus become India’s richest professional manager and the country’s newest billionaire, with a net worth exceeding Rs 8,300 crore.
The Role of Blinkit in Zomato’s Success
According to a Goldman Sachs report, one of the main drivers of Zomato’s share boom is the rapid growth of Blinkit, which Zomato acquired for $570 million (Rs 4,763 crore) in 2022. Blinkit’s indicated value has now surpassed even that of Zomato’s core food delivery business, with Blinkit currently valued at $13 billion (Rs 1 lakh crore).
The Genesis of ‘Foodiebay’, Later Renamed ‘Zomato’
Early Life and Education
Born on January 26, 1983, in Muktsar, Punjab, Deepinder Goyal completed his schooling at DAV College, Chandigarh. He then enrolled in IIT Delhi, where he studied Mathematics and Computing. After graduation, Goyal secured a job as a Senior Associate Consultant at Bain and Company, where he met Pankaj Chaddah, his future co-founder of Zomato.
Founding Zomato
Goyal’s passion for food inspired him to streamline the meal delivery system. In 2008, Goyal and Chaddah launched FoodieBay.com while still employed at Bain and Company. Within nine months, Foodiebay became the largest restaurant directory in Delhi-NCR. Soon after, it began receiving funding from investors such as Info Edge India, Sequoia, Vy Capital, Temasek, and Ant Financial of Alibaba. The company, renamed Zomato, received a game-changing $200 million investment from Ant Financial, achieving unicorn status in the 2018–19 fiscal year. However, Chaddah left the company that same year.
Shark Tank Judge
Goyal featured as one of the judges on Shark Tank Season Three, which aired from January 22 to March 31, 2024. He judged alongside some of the most successful entrepreneurs in the country, including Aman Gupta, Amit Jain, Anupam Mittal, Namita Thapar, Vineeta Singh, Peyush Bansal, Ritesh Agarwal, Azhar Iqubal, Radhika Gupta, Varun Dua, and Ronnie Screwvala.
Luxurious Properties
The 41-year-old Goyal, who recently married Mexican entrepreneur Grecia Munoz, reportedly owns a 5-acre property in Mehrauli Tehsil, New Delhi. He also purchased two expansive land parcels for a combined cost of Rs 79 crore. According to CRE Matrix, he bought the first 2.5-acre parcel for Rs 29 crore in March 2023 and the second 2.5-acre parcel for Rs 50 crore in September 2023.
Fleet of Expensive Cars
Goyal is a certified motorhead with a collection of uber-expensive cars. His garage includes a Rs 4.76 crore Ferrari Roma, a Rs 3.35 crore Porsche 911 Turbo, a Rs 4.18 crore Lamborghini Urus, and a Rs 4.59 crore Aston Martin DB12.
Net Worth
With the surge in Zomato shares and the addition of his assets, The Economic Times and Deccan Chronicle estimate Goyal’s net worth to be over Rs 8,300 crore.