Sridhar Vembu Wife And Divorce news has been trending on the web recently. The Billionaire is the founder and CEO of Zoho Corporation.
He was born in 1968 in Thanjavur district, Tamil Nadu, to a middle-class Tamil family. He became an Indian billionaire business magnate and won the Padma Shri, India’s fourth-highest civilian award, in 2021.
Vembu completed his graduation in Electrical Engineering from the Indian Institute of Technology in 1989. He flew to New Jersey and completed his MS and Ph.D. at Princeton University.
Sridhar began his professional career as a wireless engineer and worked for Qualcomm in San Diego, California.
He and his two brothers founded a software development House for AdventNet in 1996. The Company later changed its name to Zoho Corporation in 2009.
His billon-dollar worth Company focuses on providing SaaS support to Customer relationship management services.
Vembu held the majority stake of 88% in the Company as of 2020. Forbes suggests that his net worth is a whopping $2.44 billion. Sridhar took on the role of National Security Advisory Board in 2021.
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Meet Sridhar Vembu Wife Pramila Srinivasan
Indian-origin billionaire Sridhar Vembu’s divorce news is trending on the web. The man is battling a high-stakes divorce with his estranged wife, Pramila Srinivasan. Vembu enjoyed 29 years of married life with his wife.
According to the Forbes article, the Indian Software Tycoon allegedly transferred ownership without informing his wife.
Zoho co-founder Sridhar Vembu recently relocated his living residence to Mathalamparai village in Tamil Nadu. He filed for divorce from his wife, Srinivasan, in August 2021.
Vembu established Zoho as a business software provider, and the Company now values at more than $5 billion, according to Forbes.
Various sources close to his estranged wife, Srinivasan, revealed that in November 2020, Vembu notified Srinivasan of his desire for a divorce via a WhatsApp message.
In the filed divorce case, Pramila accuses her ex-husband Vembu of intentionally disposing of a large section of the Company’s stake in a complex transaction. The stake transaction transferred Zoho’s intellectual property to India, where he now lives.
Eventually, Vembu’s stake-changing decision resulted in the majority of the shares being transferred to his sister and her husband. That’s why Pramila accused him of not informing the decision or seeking consent from her. She stated in a January court filing:
I spent 29 years with my husband and he not only abandoned me but also his son with special needs. He took the decisions to make fictitious transfers and stakes of our most valuable Company asset to his family members without consideration.
My husband never even told me or asked my permission.
Furthermore, Srinivasan’s lawyer, John Farley, said that California’s community property law forbids a spouse during marriage to secretly dispose of assets without gaining the better half’s consent.
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Sridhar Vembu Family And Net Worth
According to Forbes, Sridhar Vembu’s net worth was $3.8 billion as of 2022. He was the 55th richest person in India in 2021.
Vembu’s family landed at the #48 spot on Forbes’ 2022 list of India’s 100 Richest. His name was listed as the founder and CEO because of his prominence in the Company.
Also, Vembu’s sister Radha works as a product manager at Zoho. She now owns the most significant stake in their Company at approximately 47.8 percent. The figure value of the percent is $2.2 billion.
Similarly, Vembu’s brother Sekar owns approx. 35.2 percent stake in Zoho, worth $1.6 billion.
Currently, Sridhar only owns a 5% stake in the Company, making him own $225 million. Merging all the stakes, the Vembu family owns nearly $4 billion.
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