Bavaguthu Raghuram Shetty, better known as B. R. Shetty, is an Indian-born entrepreneur, philanthropist, and visionary who built one of the biggest healthcare and financial empires in the Middle East. He is best known as the founder of NMC Health, UAE Exchange, and Neopharma.
Shetty’s journey from a small-town pharmacist in India to a global business icon is a story of determination, innovation, and resilience.
B. R. Shetty – Profile Summary
| Full Name | Bavaguthu Raghuram Shetty |
| Popular Name | B. R. Shetty |
| Date of Birth | August 1, 1942 |
| Age (as of 2025) | 83 Years |
| Birthplace | Udupi, Karnataka, India |
| Current Residence | Abu Dhabi, United Arab Emirates (formerly) |
| Nationality | Indian |
| Religion | Hinduism |
| Zodiac Sign | Leo |
| Profession | Entrepreneur, Philanthropist |
| Education Qualification | Bachelor’s Degree in Pharmacy |
| College / University | Manipal Institute of Technology (MAHE), Karnataka |
| Marital Status | Married |
| Wife / Spouse | Dr. C. R. Shetty |
| Children | 4 |
| Father’s Name | Not Publicly Known |
| Mother’s Name | Not Publicly Known |
| Hometown | Udupi, Karnataka, India |
| Known For | Founder of NMC Health, UAE Exchange & Neopharma |
| Years Active | 1973 – Present |
| Awards & Honors | Padma Shri (India), Several UAE Business Awards |
| Languages Known | English, Hindi, Kannada |
| Net Worth (Peak) | Approx. $3.2 Billion (2018) |
| Current Net Worth (2025) | Undisclosed |
| Hobbies / Interests | Philanthropy, Reading, Business Innovation |
| Controversy | 2020 NMC Health Financial Scandal |
| Nationality of Business Operations | United Arab Emirates |
| Business Sectors | Healthcare, Pharmaceuticals, Finance, Education |
Early Life
B. R. Shetty was born on August 1, 1942, in a humble family in Udupi, Karnataka. Growing up in a middle-class household, he learned the importance of discipline and hard work from an early age. His father was a small businessman, and these values deeply influenced Shetty’s approach to life and business.
He had a keen interest in healthcare and community service, passions that would later guide his journey toward becoming a healthcare entrepreneur and philanthropist.
Education
Shetty earned a bachelor’s degree in pharmacy from Manipal Institute of Technology (now MAHE) in Karnataka. His education in pharmaceuticals gave him a solid base for his later ventures in healthcare.
After graduation, he began his career as a medical representative in India but soon realized he wanted to do something bigger. In 1973, he moved to Abu Dhabi in search of new opportunities—carrying little money but big dreams.
Family
B. R. Shetty belongs to a traditional South Indian family. He is married to Dr. C. R. Shetty, who has been his biggest supporter and partner in life. The couple has four children.
| Family Member | Name / Occupation |
|---|---|
| Father | Not Publicly Known |
| Mother | Not Publicly Known |
| Spouse | Dr. C. R. Shetty |
| Children | 4 |
| Siblings | Not Publicly Known |
Career
Early Career
After completing his studies, Shetty started as a pharmacist in India. In 1973, he moved to Abu Dhabi, determined to make something of himself despite having very little savings.
Founding of NMC Health
In 1975, Shetty founded the New Medical Centre (NMC) in Abu Dhabi, with a vision to offer affordable and quality healthcare to expatriates. What began as a single clinic later grew into NMC Health, one of the largest private healthcare groups in the Middle East, serving millions across multiple countries.
UAE Exchange and Financial Ventures
In the 1980s, noticing the need for reliable remittance services for migrant workers, he established UAE Exchange, which became a global leader in money transfer services. It operated in over 30 countries, connecting families and economies around the world.
Neopharma and Industrial Growth
In 2003, Shetty launched Neopharma, a pharmaceutical manufacturing company in Abu Dhabi. The company partnered with several global pharma giants, producing high-quality medicines for both local and international markets.
Recognition and Global Expansion
Under Shetty’s leadership, NMC Health became the first UAE-based healthcare company listed on the London Stock Exchange (LSE) in 2012. Over time, his empire diversified into healthcare, finance, education, and hospitality, making him a respected name in global business.
Personal Life
Despite his success, B. R. Shetty is known for his down-to-earth nature and strong humanitarian values. He has donated generously to education, healthcare, and social welfare initiatives in India and the UAE.
He takes great pride in his Kannada heritage and actively promotes Indian culture abroad. His life reflects his belief in giving back to society and empowering others.
Controversy
In 2020, B. R. Shetty and his companies—NMC Health and Finablr (the parent company of UAE Exchange)—were caught in a major financial controversy involving accounting irregularities worth billions of dollars. The companies were placed under administration, and Shetty stepped down from his leadership positions.
He has denied all allegations, claiming he was a victim of corporate fraud and is still fighting legal battles to clear his name. Despite the scandal, his role as a pioneer in the UAE’s healthcare industry remains undisputed.
Social Media
| Platform | Handle / Account | Followers (approx.) | Content Type |
|---|---|---|---|
| Not Public | — | Business insights, interviews | |
| Not Active | — | — | |
| Not Active | — | — | |
| Not Active | — | — |
Net Worth
| Year | Estimated Net Worth | Source of Income |
|---|---|---|
| 2015 | $2.3 Billion | NMC Health, UAE Exchange |
| 2018 (Peak) | $3.2 Billion | Healthcare & Financial Services |
| 2020 (Post-Scandal) | Declined | Legal & Financial Issues |
| 2025 | Undisclosed | Investments & Residual Holdings |
Physical Appearance
| Attribute | Details |
|---|---|
| Height | 5’9” (175 cm) |
| Weight | 75 kg (approx.) |
| Hair Color | Black (with gray) |
| Eye Color | Brown |
| Complexion | Wheatish |
| Build | Average |
Interesting Facts about B. R. Shetty
- He arrived in Abu Dhabi with just ₹8 in his pocket.
- NMC Health became the first UAE healthcare firm listed on the London Stock Exchange.
- Founded UAE Exchange, later expanded into Finablr, operating in 30+ countries.
- Awarded the Padma Shri by the Government of India.
- Actively supports education, healthcare, and women’s empowerment initiatives.
- A passionate philanthropist, known for his contributions in both India and the UAE.
FAQs about B. R. Shetty
Q1. Who is B. R. Shetty?
He is an Indian-born entrepreneur and philanthropist, best known as the founder of NMC Health, UAE Exchange, and Neopharma.
Q2. What is his age?
As of 2025, B. R. Shetty is 83 years old.
Q3. Where was he born?
He was born in Udupi, Karnataka, India.
Q4. What is he famous for?
For creating one of the largest healthcare and financial networks in the Middle East.
Q5. Who is his wife?
His wife is Dr. C. R. Shetty.
Q6. What happened to NMC Health?
In 2020, NMC Health faced a major financial scandal involving accounting irregularities and went into administration.
Q7. What is his current net worth?
As of 2025, his exact net worth is undisclosed, but he was once worth over $3.2 billion.
Q8. Has he received any awards?
Yes, he received the Padma Shri for his contributions to business and community service.
