From a cotton trading businessman to richest banker in India: Know about Uday Kotak’s journey, education, family, net worth and more

Imagine a man who started his career in the cotton trading business, but his passion for financial services led him to create one of the largest private banks in India. A billionaire who prefers a modest lifestyle and has a heart for philanthropy. That man is Uday Kotak, the founder and CEO of Kotak Mahindra Bank, a true pioneer in the world of finance and a shining example of what can be achieved with hard work, determination, and a bit of creativity.

In this article, we take a quick glance on Kotak’s journey, education, net worth and more.

Uday Kotak: Education

Uday Kotak completed his Bachelor’s degree in Commerce from Sydenham College, Mumbai, and then earned a Masters in Management Studies from Jamnalal Bajaj Institute of Management Studies.

Uday Kotak: Business Journey

After completing his education, Uday Kotak started his career by joining his family’s business, which was primarily focused on cotton trading. However, he was more interested in the financial services sector and started a bill discounting business in 1985, which later became Kotak Mahindra Finance Ltd. 

He founded Kotak Mahindra Bank in 2003, and it has since grown to become one of India’s largest private banks. Kotak Mahindra Bank offers a wide range of financial products and services, including personal banking, investment banking, and wealth management.

Uday Kotak: Family

Uday Kotak tied the knot with Pallavi Kotak after they met at a party in 1985 and quickly fell in love. They decided to marry just two months after starting to date. The couple has two sons.

Jai, a Harvard Business School graduate, has been employed at the Kotak Mahindra Bank since 2017.

Uday Kotak: Sources of Income

Kotak’s primary source of income is his ownership in Kotak Mahindra Bank. He also earns income from his investments in other businesses.

Uday Kotak: Net Worth

As of April 2023, Uday Kotak’s net worth is estimated to be around $14.3 billion, making him the tenth-richest person in India.