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He built a fortune lending to low-income borrowers shunned by banks. He paid staff below-market wages and thought they still earned too much. He gave away almost all his wealth to a handful of employees, content with his small house and a $5,000 car. R Thyagarajan is arguably one of…
HE built a fortune lending to low-income borrowers shunned by banks. He paid staff below-market wages and thought they still earned too much. He gave away almost all his wealth to a handful of employees, content with his small house and a US$5,000 car.
R Thyagarajan is arguably one of the world’s most idiosyncratic financiers in no small part because his multibillion-dollar business, the Shriram Group, has thrived in an industry that tripped up countless others around the globe.
(Bloomberg) He built a fortune lending to low-income borrowers shunned by banks. He paid staff below-market wages and thought they still earned too much. He gave away almost all his wealth to a handful of employees, content with his small house and a $5,000 car.Most Read from BloombergWeWork Tumbles After Raising ‘Substantial Doubt’ About FutureEveryone Wants to Work at UPS After Teamsters DealUS Bank Shares Drop as Moody’s Cuts Ratings, Warns on RisksWall Street WhatsApp, Texting Fines Excee