Elderly village man shocks internet with Rs 100 crore L&T and UltraTech shareholdings

An elderly man living in a rural village has become an internet sensation for his simple lifestyle yet possessing shares worth crores. The story came to light through a viral social media post shared by user Rajiv Mehta, who claimed that the elderly man amasses shares from L&T and Ultratech worth Rs 100 crore (approximately $13.5 million).

In a candid conversation conducted in his native language, he disclosed the names and values of his various shareholdings. Since its initial sharing, the video has garnered over 1 million views.

According to the post, the elderly man possesses a substantial Rs. 80 crores in L&T shares,  Rs. 21 crores in Ultratech cement shares, and an additional Rs. 1 crore in Karnataka bank shares. Adding to the intrigue, the elderly man revealed that he earns an annual dividend income of approximately Rs. 6 lakh (approximately $8,100) from his investments.

This has left the online community astounded, prompting many to calculate the dividends accruing from his sizable portfolio.

Internet users have been quick to commend the man’s approach, with one emphasising the “Power of Simplicity” and the benefits of long-term investing and avoiding impulsive selling. Another user expressed admiration, noting, “Nice to see the simple man has nice stocks in the portfolio.”

However, some have raised valid questions about the practicality of accumulating wealth without enjoying its benefits. One user highlighted the importance of not only leading a simple life but also deriving joy from one’s wealth. “There is nothing wrong in leading a simple life, but whether he is enjoying his wealth is important. If not, then his investment and wealth are useless,” wrote the user.

While others pointed out that wealth, like fuel, is most valuable when it serves a purpose. “What’s the point then? Money is like fuel, what’s the point if you have a lot of it in the tank and no use for it? Simplicity is one thing but not being able to spend at all on yourself is another. See many accumulators find it very difficult to move to spending mode when they have enough,” the user wrote.