Meet man who was once an intern at RBI, now India’s newest billionaire with net worth of Rs…., his business is…

Born into a family of jewelers in Pune, Maharashtra, Saurabh Gadgil is the son of jeweler-businessman Vidyadhar Gadgil, and grandson of Dajikaka, the founder of PN Gadgil Jewellers’ Pune branch.

Saurabh Gadgil, the chairman and managing director of PN Gadgil Jewellers (PNG Jewellers), has become the newest member of India’s ever expanding billionaires’ club, barely a month after PNG Jewellers became a public traded company. According to Bloomberg Billionaires Index, Saurabh Gadgil’s net worth has surged to over $1.1 billion since the IPO.

Who is Saurabh Gadgil?

Born into a family of jewelers in Pune, Maharashtra, Saurabh Gadgil is the son of jeweler-businessman Vidyadhar Gadgil, and grandson of Dajikaka, the founder of PN Gadgil Jewellers’ Pune branch.

After his early education, Saurabh Gadgil earned his Bachelors degree in Commerce (BCom) from Brihan Maharashtra College of Commerce (BMCC) in Pune in 1998 and later completed his Ph.D in Mechanical Engineering at the University of Texas in Austin, Texas (US).

Saurabh earned his MBA from Symbiosis Institute of International Business (SIIB)  and worked as an intern at the Reserve Bank of India (RBI), where he closely studied the gold market to gain more insights into the family business.

“I thoroughly studied and understood the gold market and where it could lead too, in the global environment. That helped a lot when I eventually joined the company,” Hindustan Times had quoted Gadgil as saying in 2018.

Besides his academic and business accomplishments, Saurabh, 47, is also an accomplished chess player, having competed in several state-level tournaments.

Saurabh Gadgil got married to Radhika Gadgil in 2000, the couple has two children.

Saurabh Gadgil career

A sixth-generation jeweler, Saurabh Gadgil has taken PNG Jewellers to new heights since joining the family business. Recently, after the company’s IPO last month, its shares witnessed a whopping 61 percent rise.

According to reports, Saurabh Gadgil, his wife, and two other family members earned over $3.2 million in remunerations in 2023-24.

“As a former national level chess player, thinking thirty moves ahead in life has become something of a habit for me. This habit of mine started coming in handy particularly back in 1998 – when I took over the reins of the PNG Jewellers family business,” Saurabh Gadgil writes on his LinkedIn profile.

Who are PN Gadgil Jewellers?

PN Gadgil Jewellers Limited or Purshottam Narayan Gadgil Jewellers, is one of the oldest jewellery companies in India, which was established by its founder, Ganesh Narayan Gadgil in 1832. Ganesh once sold gold ornaments on a footpath in Sangli town of Maharashtra, and later established PNG Jewellers, which today runs 39 retail stores in Maharashtra, Goa, and one in California, USA.