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Founder of the Caparo Group, NRI industrialist Lord Swraj Paul leaves behind a towering legacy spanning industry, politics, and philanthropy.
Lord Swraj Paul Net Worth.
Lord Swraj Paul Net Worth: Industrialist and philanthropist Lord Swraj Paul, one of the UK’s most prominent Indian-origin businessmen, passed away on August 21, 2025, at the age of 94. Founder of the Caparo Group and a long-serving member of the UK’s House of Lords, the NRI industrialist leaves behind a towering legacy spanning industry, politics, and philanthropy.
“Deeply saddened by the passing of Shri Swraj Paul Ji. His contributions to industry, philanthropy and public service in the UK, and his unwavering support for closer ties with India will always be remembered. I fondly recall our many interactions,” Prime Minister Narendra Modi said in his post on X.
A Legacy Forged in Steel and Service
Born in Jalandhar, Punjab, in 1931, Paul earned advanced degrees in mechanical engineering—including a BSc, MSc, and MechE — from the Massachusetts Institute of Technology before launching a storied career in business. Before this, he completed his high school education in Jalandhar and Bachelor’s in Science from Punjab University in 1949.
Lord Paul moved to the UK in 1966 seeking treatment for his young daughter Ambika, who was battling leukemia. After her death at age four, he founded the Ambika Paul Foundation in her memory, setting the stage for a life dedicated to both industry and philanthropy.
His entrepreneurial drive led to the founding of the Caparo Group in 1968. From a single steel unit, the conglomerate expanded into a global steel and engineering powerhouse with operations across the UK, India, North America, and the Middle East.
Lord Swaraj Paul’s Net Worth
In a testament to his extraordinary success, Lord Paul and his family owned a dozen luxury flats on London’s prestigious Portland Place, each reportedly worth around £1 million. This year, he appeared on the Sunday Times Rich List, placed at 81st with an estimated net worth of £2 billion (about $2.5 billion), largely stemming from the Caparo empire.
Business Empire: Caparo Group
Lord Paul established the Caparo Group in the UK in 1968. What began as a small steel venture grew into a diversified multinational with interests spanning steel, automotive engineering, design, and advanced manufacturing.
Today, Caparo employs over 8,500 people worldwide, with operations across Europe, North America, India, the Middle East, and the Far East. Beyond metals, the group has diversified into renewable energy, hospitality, media, financial services, medical products, and private equity investment.
In India, Caparo set up operations in 1994 through a joint venture with Maruti Suzuki, later expanding into over 25 manufacturing plants across the country, producing sheet metal, forgings, die castings, fasteners, and steel tubes for leading automakers and even the Indian Railways.
Political and Social Role
Lord Paul was not only an industrialist but also a respected public figure in Britain. He entered the House of Lords in 1996 as a crossbench peer under the title Baron Paul of Marylebone. In 2009, he was sworn in as a Privy Councillor.
He founded the Indo-British Association in 1975, fostering closer ties between India and the UK, and played a visible role in strengthening bilateral relations.
Failed Takeover Bids in India
Lord Paul also left a mark on India’s corporate history. In the early 1980s, Lord Paul, who had a close relationship with then Prime Minister Indira Gandhi, attempted to acquire controlling stakes in Escorts Ltd and DCM Ltd by exploiting provisions that allowed non-resident Indians to buy shares without prior approval.
These attempts, among India’s first hostile takeover bids, triggered political and corporate pushback. Promoter families resisted, financial institutions sided with them, and the Indian government changed rules to curb NRI investments. While Paul eventually stepped back, the episode reshaped India’s corporate governance landscape and indirectly led to the formation of the Bombay Club, an alliance of Indian business families wary of external threats.
Philanthropy and the Ambika Paul Foundation
Much of Lord Paul’s philanthropic work was inspired by personal tragedy. After losing his daughter Ambika to cancer, he established the Ambika Paul Foundation, which went on to donate millions to children’s welfare, education, and health initiatives.
The Ambika Paul Children’s Zoo at the London Zoo and the Ambika Paul Memorial Gardens stand as lasting tributes. He was also a significant benefactor to the University of Wolverhampton, the London Zoo, and institutions in India and the US, including a \$5 million donation to MIT.
In recognition of his contributions, the Government of India awarded him the Padma Bhushan in 1983.
Legacy and Death at 94
Lord Swraj Paul passed away in London on August 21, 2025, at the age of 94, surrounded by family. His son, Akash Paul, now leads Caparo’s India operations and sits on the group’s global board.
From being a steel magnate and political voice in the UK, to a philanthropist whose giving reshaped institutions across continents, Lord Paul leaves behind a legacy that blends wealth, influence, and compassion.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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