Savitri Jindal’s Assets

Have you ever wondered about the assets of the really wealthy?Personally I have always been interested in knowing just where wealthy people have their money.My take is that wealthy people didn’t get that way or don’t stay that way without knowing a thing or two about keeping and growing their money safely.That is why I was interested when I came across her statement, given before the returning officer, while filing her nomination papers in 2009 for the Haryana Legislative Assembly elections.

Savitri Jindal is India’s richest woman. She is the widow of the late O.P.Jindal.In her statement given before the returning officer,Savitri Jindal states that she has moveable property worth Rs 17.75 crore and immovable property worth Rs 25.94 crore.I think it’s interesting to see how much of her money she has in a liquid form.Compare this to our asset allocation.Most of us are bound to have most of our money stuck in our houses.A house is a necessity, but it makes sense to acquire one’s fortune and then splurge on fancy houses rather than try to become wealthy by sinking money in our homes.

Savitri Jindal does not own a car.I think this lady shows us women a way out of owning a depreciating asset-claim you don’t drive.Having a car at one’s disposal is good but owning it might not be so wise wealth-wise.Keep the luxury car purchases for after you reach the stage of acquiring luxury homes.

Savitri Jindal has 9 kg of gold and jewellery worth Rs 3.25 crore and 221-kg 655-gram silver worth Rs 43 lakh.So much for all the financial advisers who would have us women eschew gold ornaments and silver utensils!Why not buy some gold instead of a second car?

She also states that she has Rs 2.33 lakh in cash, Rs 24.09 lakh in banks,shares worth Rs 8.98 crore, a life insurance policy of Rs 1.17 lakh and other movable assets,including art, worth Rs 4.82 crore.Unfortunately there is no way of knowing if she had more insurance in her earlier years.Interestingly,there is also no mention of mutual funds.

As for immovable property,Savitri Jindal owns agriculture land worth Rs 49.42 lakh in Raigarh and Maharashtra, has a residential house in Urban Estate, Hisar, worth Rs 74 lakh and a palatial house on O P Jindal Marg, Hisar, worth Rs 24.71 crore.