Radha Vembu, 'Richest Self-Made Woman' and Zoho's Future Cast Shadows Over A Divorce Fight (image:zohocorp.com)
According to the 360 ONE Wealth Hurun India Rich List 2023 report, Radha Vembu, co-founder of Zoho Corporations became the second richest self-made woman in the world in software and services. She has overtaken Falguni Sanjay Nayar, founder and CEO of the beauty and lifestyle retail company, Nykaa. Harun India reports Ms Vembu”s net worth as Rs. 34,900 crore. In the list, she holds 40th position among the top 100 richest Indians. And she comes third in the India”s top five software entrepreneurs.
Ms Vembu holds a degree in industrial management from the Indian Institute of Technology, Madras (IIT-M). Zoho Corporation was co-founded by Ms Vembu along with her brother Sridhar Vembu. She owns a majority stake in Zoho and holds positions including product manager for Zoho Mail, email service, and director of Corpus Foundation. Besides, she is also director of Janaki Hi-Tech Agro Private Limited, an agricultural NGO, and Highland Valley Corporation Private Limited, a real estate company.
However, Zoho corporation and Ms Vembu”s leadership is currently facing a hard time due to her brother”s divorce, questions raised on ownership shares, and allegations of illegal transactions.
Pramila Srinivasan is Mr Vembu’s wife and the couple is undergoing through divorce proceedings in California after the Zoho founder filed papers in 2021.
In the ongoing case, Ms Srinivasan reportedly stated that Mr Vembu intentionally got rid of a big portion of his Zoho shares in a complex transaction which shifted Zoho’s intellectual property to India and consequently placing larger quantity of the shares with his sister and her husband, without informing her. She also claimed that her husband left her and their special needs son in 2020. Meanwhile, Mr Vembu in a social media post, detailed his stand on her wife”s claims stating is as “unfounded allegations.”
The messy legal proceedings are casting shadow”s on Zoho”s future and Ms Vembu”s image and position.
