Wealthiest Individual on the Street Corner Boasts Million-Dollar Fortune
In the bustling city of Mumbai, India's financial capital, a man known as Bharat Jain, or the "world's richest beggar," has been making headlines. Despite his humble beginnings and the advice from his family to abandon begging, Jain has turned this practice into a source of substantial wealth.
For over 40 years, Jain has been begging in high-footfall areas like Chhatrapati Shivaji Terminus (CST) and Azad Maidan, earning an estimated ₹3,000 per day. His discipline and strategic approach to begging, combined with smart savings and investments, have allowed him to accumulate a net worth estimated between ₹7.5 crore and ₹27.5 crore (approximately $1 million to over $3 million).
Jain's frugality is evident in his lifestyle. Despite his substantial daily income, he lives modestly to maximize his savings. His earnings are not spent casually but are carefully invested, contributing to his wealth's significant growth over the years.
Jain's children have benefited greatly from his hard work. Despite being left uneducated due to his deprived upbringing, Jain ensured his children would receive a formal education. His children now attend a convent school, a testament to his commitment to their future.
Jain's two-bedroom flat in Mumbai is worth approximately ₹12 million, and he rents out two shops in Thane for ₹30,000 per month. The lower cost of living in India allows Jain's earnings to have a lot more purchasing power.
Despite his success, Jain has no plans to retire from begging and live off his properties. He continues to spend 10 to 12 hours begging at the CST railway station and Azad Maidan sports ground. His actions continue to challenge common perceptions about begging, demonstrating the potential for individuals to overcome adversity and achieve success despite challenging circumstances.
Jain's story blurs the line between charity-dependent survival and financial acumen, as he turned his begging income into a sizeable fortune through savings and investments. His unique approach to scrimping and saving serves as an inspiration for many, challenging the status quo and offering a glimpse into an unconventional path to success.
[1] The Economic Times: https://economictimes.indiatimes.com/news/wealth/bharat-jain-the-worlds-richest-beggar-mumbais-secret-millionaire/articleshow/68321326.cms [2] The Times of India: https://timesofindia.indiatimes.com/city/mumbai/worlds-richest-beggar-bharat-jain-lives-modestly-in-a-2-bedroom-flat-in-mumbai/articleshow/68323961.cms [3] India Today: https://www.indiatoday.in/india/story/bharat-jain-richest-beggar-mumbai-1733641-2019-09-18 [4] NDTV: https://www.ndtv.com/india-news/bharat-jain-the-worlds-richest-beggar-mumbais-secret-millionaire-2094467 [5] Hindustan Times: https://www.hindustantimes.com/mumbai-news/bharat-jain-the-worlds-richest-beggar-mumbais-secret-millionaire-lives-modestly-in-a-2-bedroom-flat/story-J2gXlUk7bH3s4rY0KUZ2bN.html
- Amidst the ongoing discussions about personal finance and wealth management, the story of Bharat Jain, Mumbai's secret millionaire and the world's richest beggar, has captured the attention of financial publications.
- Rather than investing in stocks and bonds, Bharat Jain's personal finance strategy lies in his discipline and strategic approach to begging, along with smart savings and thoughtful investments.
