Subrata Roy's Sahara Group was once India's 2nd largest employer, net worth claimed to be ₹1.5L cr

Sahara Group founder Subrata Roy passed away at the age of 75 due to cardiorespiratory arrest. The businessman passed away at Mumbai's Kokilaben hospital. Sahara India Group put out an official statement mourning Roy's demise. The company said in its statement, "It is with profound sadness that Sahara India Pariwar informs the demise of our Hon'ble 'Saharasri' Subrata Roy Sahara, Managing Worker and Chairman, Sahara India Pariwar.''

The statement further read, ‘’Saharasri ji an inspirational leader and visionary, passed away on 14th November 2023 at 10.30 pm due to cardiorespiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes. He was admitted to Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute (KDAH) on 12th November, 2023 following a decline in health.”

‘Second largest employer after railways’

The Sahara Group was termed by the Time magazine as the second largest employer in India after the Indian Railways. The Sahara Group had earlier said it has always built its businesses by productively channelising human capital spread across India and giving employment and work at people's doorstep.

''In this way, Sahara is providing bread and butter to more than 14 lakh people in their own villages and towns. It is the country's second-largest human capital after Indian Railways. This amount could have been used by the organisation to generate more employment and work and helped the country and therefore its economy,'' it had said in an earlier statement. Calling him a thief, a man from Gwalior once threw ink on the face of Roy when the Sahara Group chief was brought to the Supreme Court amidst chaotic scenes wearing his trademark waistcoat and tie.

Since the group’s inception in 1978, as per the advertisements, the group had claimed to have raised funds totalling Rs 2,25,000 crore across various businesses. The Sahara group in 2014, pegged its total net worth at a whopping figure of Rs 68,174 crore and the size of its assets at Rs 1,52,518 crore. The Sahara empire once owned a stake in a Formula 1 racing team and also included the iconic New York Plaza Hotel among one of its properties.