Meet Cyrus Poonawalla: Billionaire who bought Rs 167 crore Ravi Varma painting; here's look at his net worth, assets

The Indian art market reached a historic high this week as an oil painting by Raja Ravi Varma was sold for an astounding Rs 167.2 crore ($18 million). The artwork, Yashoda and Krishna, created in the 1890s, emerged as the highlight of the Saffronart spring auction held on April 1. The sale not only set a new benchmark but surpassed the previous record by more than Rs 49 crore, marking a nearly 40% jump and making it the costliest Indian painting ever auctioned.

The buyer behind this record-breaking purchase is Cyrus S. Poonawalla, founder and managing director of the Serum Institute of India. Widely known as the "Vaccine King," Poonawalla described the acquisition as a privilege and emphasised his commitment to preserving the masterpiece. He also stated that the painting would be made accessible to the public from time to time.

Poonawalla's journey began in 1966 when he established the Serum Institute with modest funding sourced from his family's horse-breeding business. Today, it stands as the world's largest vaccine manufacturer by volume. The institute played a pivotal role during the pandemic with its Covishield vaccine, forming a key part of India's immunisation drive. In recognition of his contributions, he has been honoured with the Padma Shri and the Padma Bhushan.

In terms of wealth, Poonawalla ranks among the world's richest individuals. His net worth was estimated at around $24.8 billion in April 2026, placing him among the top global billionaires. The Poonawalla family also features among India's wealthiest, according to recent rankings.

Apart from his healthcare empire, Poonawalla has significant investments, including a major stake in Poonawalla Fincorp. His real estate portfolio spans high-value properties in Mumbai and London, while his passion for luxury is reflected in an extensive collection of Rolls-Royce cars, ranging from customised limousines to the latest Phantom models.