Cyrus Poonawalla buys Ravi Varma painting for ₹167 crore: Check Serum Institute founder’s net worth, assets
Since Raja Ravi Varma’s painting Yashoda and Krishna was sold for very high prices ₹The record art sale of ₹167.2 crore (about $18 million) on April 1 is making headlines. While many discuss how this moment was a turning point for the Indian art world, others want to know about the man who bought it: Cyrus Poonawalla.
Poonawalla’s latest purchase broke the record for purchasing the most expensive work of modern Indian art. Even surpassed it ₹118 crore was fetched by MF Hussain’s Untitled (Gram Yatra), which was bought by Delhi-based collector Kiran Nadar last year.
Here’s everything you need to know about Cyrus Poonawalla and his assets
Cyrus S. Poonawalla is the founder and managing director of Serum Institute of India (SII), based in Pune. Founded in 1966, the company has become the world’s largest vaccine manufacturer by volume. Over the years, Poonawalla has consistently ranked among the wealthiest individuals in the world.
The son of a horse breeder, Poonawalla founded SII by raising $12,000 from selling horses and borrowing the rest from his father. The closely held group provides low-priced vaccines for vaccines. Bloomberg reported.
The company currently produces more than 1.5 billion doses of vaccines annually, including for measles, polio and influenza.
Under Serum’s CEO, his British-educated son Adar Poonawalla, the company invested $800 million to build a new factory to make Covid-19 vaccines in Pune at the height of the Coronavirus outbreak.
Net worth of Cyrus Poonawalla
According to a Forbes According to a report published in March, Poonawalla’s net worth as of March was reportedly $27 billion. As of April 2, his net worth is reportedly $24.8 billion, making him the 97th richest man in the world. He was the ninth richest man in India in 2025.
Assets of Cyrus Poonawalla
According to a Bloomberg According to the report, most of his wealth comes from his private company SII. In addition to its vaccine business, Poonawalla also owns a 62.6% stake in Poonawalla Fincorp, a non-bank financial company that offers auto and mortgage loans. The business, formerly known as Magma Fincorp, was acquired for $441 million in February 2021. He also owns a majority stake in The Ritz-Carlton hotel in Pune. Financial Express reported. Reports indicate that he also owns stud farms, around 250 acres of land and properties and houses in Mumbai and Pune.
Poonawalla’s real estate empire was valued as follows as of 2025: ₹1,600+ crore. This included Aberconway House, the iconic £42 million mansion in London’s Grosvenor Square ( ₹440 crore). The value of Lincoln House in Mumbai is estimated to be approx. ₹750–934 crore and covers roughly 50,000 square metres.
Apart from real estate, Poonawalla is generally regarded as India’s leading luxury car collector. He is one of the country’s top Rolls-Royce car collectors. This includes exclusive limousines and the latest Phantom models. SII’s president also owns a Rolls-Royce Silver Spur.
Cyrus Poonawalla buying the painting
Commenting on the purchase of the oil painting, Poonawalla said, “I am privileged to have the opportunity to acquire, preserve and maintain the iconic Raja Ravi Varma painting Yashoda and Krishna. This national treasure deserves to be made available to the public periodically and it will be my endeavor to facilitate its progress.”
