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Billionaire Profile
Ashwin Desai
Global Rank
#2353

Ashwin Desai

CEO, Specialty chemicals
Surat, India
Real-Time Net Worth
$1.77B
Estimated based on Specialty chemicals stock value as of September 10, 2026
-1.78% (24h)
Age
74
Source
Specialty chemicals
Industry
Manufacturing
Citizenship
India

Biography

Ashwin Desai, a self-made billionaire, is a prominent figure in the specialty chemicals industry. Born in 1951, he is the founder and managing director of Aether Industries, a Surat-based company. His wealth source is rooted in the specialty chemicals sector. Desai's career began in 1976, and through hard work and determination, he built Aether Industries, which went public in 2022. His achievements highlight his business acumen and leadership, making him one of the wealthiest individuals in India. As of March 2026, his net worth is estimated to be $1.1 billion. He is known for his dedication and focus on engineering and technology.

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Data Updated
Sep 10, 2026
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Wealth Over Time

Net Worth History

YearNet Worth
2026$1.77B
2025$1.10B
2024$1.10B
2023$1.20B

Portfolio Holdings

Aether Industries

Aether Industries

543534•manufacturing
$957M
Holdings Value
Ownership
87%
Market Cap
$1.09B
Revenue
$75M
Surat, India
Not found employees
Founded 2013

In-Depth Profile

Early Life

Ashwin Desai was born in Isipingo, Durban, on September 18, 1951. He grew up in Indore. Desai was always interested in chemical engineering and went on to study chemical engineering and enrolled at the Institute of Chemical Technology (ICT), formerly the University Department of Chemical Technology, in Mumbai. Desai's father had an umbrella manufacturing business.

Rise to Success

Ashwin Desai's entrepreneurial journey began in 1976 when he co-founded a specialty chemicals business with his brother-in-law. In 2013, he founded Aether Industries in Surat, Gujarat. Aether supplies chemicals to the agrochemical, pharmaceutical, and oil and gas industries. Desai took Aether public in June 2022, raising $103 million. This move, with the company's shares listed at a 10% premium, made him a billionaire.

Key Business Strategies

Desai's key business strategy involved focusing on research and development. Aether Industries has two factories in Gujarat. His sons, Rohan and Aman, manage the business operations and the technical side, respectively, and his wife Purnima has a board seat. The company primarily operates under three business models: large-scale manufacturing of its own intermediates and specialty chemicals, CRAMS, and exclusive contract manufacturing. Aether is the lone maker of some specialty chemicals in India, including 4MEP, MMBC, and DVL.

Philanthropy

Specific details of Ashwin Desai's philanthropy are not available.

Career Milestones

1976

Co-founded a specialty chemicals business

Started a chemical business with his brother-in-law.

2013

Founded Aether Industries

Founded Aether Industries, a specialty chemical company.

2022

Aether Industries IPO

Took Aether Industries public, raising $103 million.

Business Philosophy & Leadership

Notable Quotes

""Those who are brilliant and those who are hardworking. I belong in the second category, and I take pride in that.""

Leadership Principles

Hard Work and Perseverance

Believing in hard work and perseverance as the keys to success.

Focus on Research and Development

Emphasis on research and development within the business.

Controversies & Challenges

2014

Tax Fraud

Sentenced to prison for concealing more than $8 million in foreign bank accounts.

Billionaires Connected to Ashwin Desai

Peers in Manufacturing

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Richest in India

All billionaires from India →

Adjacent Global Ranks

Full global ranking →

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Frequently Asked Questions

What is Ashwin Desai's net worth in 2026?
As of 2026, Ashwin Desai's estimated net worth is $1.772 billion, ranking #2353 among the world's billionaires. The estimate is based on publicly available shareholding data and market prices, updated daily.
How did Ashwin Desai make their money?
Ashwin Desai's wealth primarily comes from Specialty chemicals, most notably through Specialty chemicals.
Where is Ashwin Desai from?
Ashwin Desai is from India.
How old is Ashwin Desai?
Ashwin Desai is 74 years old.

Sources & References

Citations for this profile have not been published yet. Net worth figures here are estimates and should not be treated as verified. See our methodology for how these estimates are produced, or report a correction.