Rajesh Mehta’s journey is a testament to the potential of hard work and determination. This gold merchant, hailing from a simple Gujarati family, started his career selling silver in the streets and markets. Despite his humble beginnings, he dreamed big and his hard work eventually paid off, propelling him to the forefront of the global gold industry. Today, he stands as the owner and executive chairman of Rajesh Exports, a company valued at a staggering Rs 9200 crore.
Mehta’s influence in the international gold market is undeniable. His remarkable success earned him a spot on Forbes’ list of the world’s top 100 richest people. He is also recognized as the owner of the world’s largest gold factory, solidifying his position as a leading figure in the industry.
Mehta’s entrepreneurial journey began with a small loan of Rs 8,000, supplemented by an additional Rs 2,000 contributed by his brother. His initial focus was on buying jewelry from Chennai and selling it in Rajkot, Gujarat. The silver jewelry business thrived, leading Mehta to venture into the gold jewelry market in 1989, establishing Rajesh Exports. He set up his first manufacturing unit in his garage, exporting gold jewelry to countries like the UK, Dubai, Oman, Kuwait, the US, and Europe.
Mehta’s ambition extended beyond export. He established a chain of retail stores under the name ‘Shubh Jewellers,’ with 81 stores currently operating in Karnataka. In 2015, a significant milestone was reached when Rajesh Exports acquired Valcambi, the world’s largest gold refining facility, located in Switzerland. This facility boasts the capacity to produce 400 tons of small-sized gold bars and 500 tons of kilo bars annually, all certified by the London Bullion Market Association (LBMA).
Rajesh Exports is listed on the stock market, with a reported market capitalization of Rs 9200 crore. In addition to his gold refineries in Switzerland and India, Mehta owns numerous jewelry stores. The company’s impressive revenue reached Rs 2.58 lakh crore in 2021, showcasing its significant presence in the global gold market. Forbes estimated Mehta’s net worth to be Rs 13091 crore in 2019, highlighting his extraordinary wealth.
Rajesh Mehta’s journey from a street vendor to a global gold magnate serves as an inspiring example of how hard work, vision, and strategic decision-making can transform even the humblest of beginnings into remarkable success.
