Radhe Shyam Agarwal Net Worth

Radhe Shyam Agarwal has an estimated net worth of $1 billion, according to Forbes World's Billionaires List 2026, Radhe Shyam Agarwal profile (figures as of Forbes World's Billionaires List 2026). That is down from a peak of $1.6 billion.

Radhe Shyam Agarwal is an Indian entrepreneur best known as the cofounder and executive chairman of Emami. He and school friend Radhe Shyam Goenka left corporate jobs and started Emami in 1974. The business began in cosmetics and grew into a larger consumer goods company. Emami later expanded across categories such as paper, real estate, edible oils, health care and cement, turning Agarwal into one of India’s best-known self-made business figures.

Much of Agarwal’s wealth comes from his stake in Emami, according to Forbes. The company sells more than 300 products, including Zandu balm and Boroplus, through millions of retail outlets. Emami also launched India’s first fairness cream for men in 2005. Beyond the flagship company, Agarwal has had interests in real estate, edible oils and health care. Forbes puts his net worth at $1 billion on the 2026 World’s Billionaires List.

How Radhe Shyam Agarwal built his fortune

Agarwal made his name in consumer goods. He cofounded Emami with Radhe Shyam Goenka after the school friends gave up corporate jobs and started the company in 1974. Emami went on to build a broad product lineup and strong retail reach. Its brands include Zandu balm and antiseptic cream Boroplus, and its products are sold across millions of outlets. That stake in Emami is the main reason Forbes counts him among India’s billionaires.

His business interests have also gone beyond the listed flagship. Forbes notes that Agarwal has had interests in real estate, edible oils and health care. In 2019, he and Goenka sold their privately held cement business for $730 million to a company owned by Karsanbhai Patel. In 2023, Agarwal sold the majority of his stake in AMRI Hospitals to Manipal Group. Inside Emami, his son Harsha serves as vice chairman and managing director.

Forbes net worth over time

Forbes has tracked Agarwal’s fortune for years, and the estimate has moved in both directions. It listed him at $1.4 billion in 2017, then $1.6 billion in 2018. The figure later dropped to $1.1 billion in 2019 and stayed at $1.1 billion in 2021. It then rose back to $1.4 billion in 2022. Those shifts followed the value of his holdings and the mix of businesses connected to Emami and its wider group interests.

More recently, Forbes kept the estimate at $1.4 billion in 2024 and again in 2025 before cutting it to $1 billion in 2026. Even with that decline, the core story stayed the same: Agarwal’s fortune is tied mainly to Emami, a consumer goods company with a large product range and wide distribution. Asset sales also shaped the money picture over time, especially the 2019 cement deal and the 2023 hospital stake sale.