Former LIC Agent Lachhman Das Mittal Is India's Oldest Billionaire

Lachhman Das Mittal, 93, has been named in the Forbes Billionaires List for 2024, making him India's oldest billionaire. Previously, Keshub Mahindra, former chairman of Mahindra & Mahindra group, held the title until his death at age 99 on April 12, 2023.

Some facts about Lachhman Das Mittal

– Lachhman Das Mittal was born in 1931 in Punjab's Hoshiarpur. He used to work as an insurance agent with LIC. 

– Mr Mittal has a Master's degree in Urdu and stood first in his class at Punjab University. He later applied for a dealership in Maruti Udyog but was rejected. 

– Mr Mittal ventured into business and built International Tractors Ltd (ITL) and launched the Sonalika Tractors in 1990 at the age of 60. Today, Sonalika Group operates globally, with plants in five countries and markets in over 120 countries. 

– Mr Mittal is no longer directly involved in the day-to-day operations of his company but his family plays a major role. His eldest son, Amrit Sagar, is the vice-chairman of the company, while his youngest son, Deepak, is the managing director. His grandsons, Sushant and Raman are also associated with the company.

– Mr Mittal's daughter Usha Sangawan was the first woman managing director of the Life Insurance Corporation of India, the state-owned life insurer. She has now retired.