Raymond Group Chairman & Managing Director Gautam Hari Singhania suffered minor injuries in a speedboat accident in the Maldives. According to his spokesperson, Singhania is currently recovering in Mumbai, and his condition is said to be stable.
Report from the Maldives claimed that a speedboat carrying tourists capsized near V Felidhoo early on Friday morning.
Singhania was among the tourists, and two other Indian men, including rally driver Hari Singh, are understood to be missing, and search operations are on, news agency PTI reported.
Singhania has been rescued.
Confirming the development, a spokesperson of Singhania was quoted by PTI as saying, "Gautam Singhania suffered minor injuries following an unfortunate accident. He is recovering under due care in Mumbai."
The spokesperson further said, "We thank you for the wishes and pray for the well-being of the affected friends."
Singhania is recovering under care at Mumbai’s Breach Candy Hospital, NDTV Profit reported.
Five swept into the sea
As per PTI's report, seven people were on board the speedboat. They include two women from the United Kingdom and Russia, and five men from India.
Citing police, the report said five persons were swept into the sea, which included a woman from Russia and four men from India.
Gautam Singhania net worth
The Raymond Group Chairman & Managing Director's net worth is said to be $1.4 billion, as per Forbes' estimates from 2023.
Besides his stake in the company, from which he derives the majority of his wealth – Singhania also holds major real estate investments. The real estate holdings include the JK House in South Mumbai and 120 acres of land in Thane, of which 24 acres are under development, Livemint had reported earlier.
Last year, the Indian billionaire was in Monaco for the Grand Prix and had met European royal Prince Albert II of Monaco on the sidelines of the international racing event.
Singhania was cheering on Kush Maini, who became the first Indian to win the Formula 2 Sprint Race, at the iconic Monaco Grand Prix in May 2025.
