Ever since Raja Ravi Varma’s painting, Yashoda and Krishna, was sold for a whopping ₹167.2 crore (approximately $18 million) on 1 April, the record art sale has been making headlines. While many are discussing how this moment marks a milestone for the Indian art world, others are keen to know about the man who bought it: Cyrus Poonawalla.
Poonawalla’s recent purchase has set a record for buying the most expensive piece of modern Indian art. It even surpassed the ₹118 crore fetched by MF Hussain’s Untitled (Gram Yatra), which was purchased by Delhi-based collector Kiran Nadar last year.
Here’s all you need to know about Cyrus Poonawalla and his assets
Cyrus S. Poonawalla is the founder and managing director of Serum Institute of India (SII), based in Pune. Established in 1966, the company has grown into the world’s largest vaccine manufacturer by volume. Over the years, Poonawalla has consistently ranked among the world’s wealthiest individuals.
Son of a horse breeder, Poonawalla started SII by raising $12,000 selling horses and borrowing the rest from his father. The closely held group supplies low-priced vaccines for immunisations, Bloomberg reported.
The company now produces over 1.5 billion doses annually of a range of vaccines, including for measles, polio, and flu.
Under his UK-educated son, Adar Poonawalla, Serum’s CEO, the company invested $800 million at the peak of the Coronavirus pandemic to build a new factory in Pune to make Covid-19 vaccines.
Cyrus Poonawalla’s net worth
According to a Forbes report released in March, Poonawalla’s net worth in March is reported at $27 billion. As of 2 April, his net worth is reported at $24.8 billion, making him the 97th richest man in the world. In 2025, he was India’s ninth richest man.
Cyrus Poonawalla’s assets
According to a Bloomberg report, most of his wealth comes from his privately held company, SII. In addition to his vaccine business, Poonawalla holds a 62.6% stake in Poonawalla Fincorp, a non-banking financial company offering auto and housing loans. Formerly known as Magma Fincorp, the business was acquired for $441 million in February 2021. He also owns a majority stake in The Ritz-Carlton hotel in Pune, Financial Express reported. Reports suggest that he also owns stud farms, nearly 250 acres of land and properties, and homes in Mumbai and Pune.
Poonawalla’s real estate empire as of 2025 was valued at ₹1,600+ crore. This included Aberconway House, the iconic mansion in London’s Grosvenor Square, worth £42 million ( ₹440 crore). His Lincoln House in Mumbai is estimated to be worth around ₹750–934 crore and covers roughly 50,000 square feet.
Apart from real estate, Poonawalla is often regarded as India’s leading luxury car collector. He is one of the country’s top collectors of Rolls-Royce cars. This includes custom limousines and the newest Phantom models. SII’s head also owns a Rolls-Royce Silver Spur.
Cyrus Poonawalla on acquiring the painting
Commenting on the purchase of the oil painting, Poonawalla said, “I am privileged to have the opportunity to acquire, preserve, and care for the iconic Raja Ravi Varma painting Yashoda and Krishna. This national treasure deserves to be made available for public viewing periodically, and it will be my endeavour to facilitate this going forward.”
