Kalanithi Maran

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Kalanithi Maran
Kalanithi Maran (cropped).jpg
Born (1964-07-24) 24 July 1964 (age 60)
Alma mater Loyola College, Chennai
University of Scranton
Occupation Businessman
Known forFounder & Chairman of the Sun Group
SpouseKavery Maran
Children Kavya Maran
Father Murasoli Maran
Relatives Dayanidhi Maran (brother)

Kalanithi Maran (born 24 July 1964) is an Indian media proprietor. He is the chairman and founder of Sun Group, one of India's largest media conglomerates. [2] [3] [4] He owns multiple television channels, newspapers, weeklies, FM radio stations, DTH services, a movie production house (Sun Pictures) and 2 cricket teams (Sunrisers Hyderabad in the Indian Premier League and Sunrisers Eastern Cape in South Africa T20 League). [5] He also held a major share in the Indian airline SpiceJet from 2010 to 2015. [6] [7]

Contents

Career

In 1990, Maran started a monthly magazine in Tamil called Poomaalai. On 14 April 1993, he founded Sun TV. [8] [9] Sun TV was listed on the Bombay Stock Exchange on 24 April 2006 upon raising $133 million for 10% of the share capital, catapulting him into the billionaire charts. [10] [11] He was among the few representatives at a roundtable with the visiting then US President Bill Clinton. [12]

He has won Young Businessman awards from CNBC and Ernst & Young, [13] and Forbes magazine named him the "Television king of southern India". [14]

Under his leadership, channels owned by the Sun TV Network became some of the most popular and successful channels in South India. Sun TV was also the first channel in the country to set up its own earth station. [12]

In June 2010, he acquired a 37% stake in SpiceJet from billionaire investor Wilbur Ross and promoter Bhupendra Kansagra, in his individual capacity and through his aviation company KAL Airways. He also put up an open offer for 20%, which increased his stake to more than 50%. [7] [15] [16]

Maran and his wife Kavery were ranked the highest paid business executives in the list of Indian executive pay charts with a package of 62 crore (US$7.4 million) each in 2014. [17]

On 24 February 2015, he sold his stake in SpiceJet to Ajay Singh, the co-founder of the airline, as a part of an reconstruction and revival scheme since the airline was facing huge losses. [18] [19]

In 2023, he was the 77th richest Indian, with a net worth of US$3 billion. The same year, his production house Sun Pictures produced the Tamil movie "Jailer" starring south Indian star Rajnikanth, which went on to be one of the best performing films of 2023. [20]

Personal life

Kalanithi was born to former Union Minister Murasoli Maran in Chennai, Tamil Nadu, on 24 July 1964. [1] He is also the grand-nephew of former Tamil Nadu chief minister M. Karunanidhi. He has a younger brother, Dayanidhi Maran was also a union minister. Kalanithi Maran married Kavery, a native of Kodagu. They have a daughter named Kaviya Kalanithi Maran, who is now the CEO of both his cricket franchises, Sunrisers Hyderabad in the Indian Premier League and Sunrisers Eastern Cape in South Africa T20 League. [21] [22]

He did his schooling in Don Bosco, Chennai. He graduated in commerce from Loyola College, Chennai. He did his MBA from University of Scranton. [23] As of 2023, his net worth is US$3 billion. [24]

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References

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