Vijay Eswaran is a businessman who currently ranks among the top 50 richest people in Malaysia, which is his country of residence. His net worth is estimated at over 500 million USD. Dr. Vijay is the founder and Executive Chairman of Qi Group of Companies.
Besides being named one of the wealthiest individuals in the region, Vijay was also recognized by Forbes Asia as one of the Heroes of Philanthropy in 2011. As part of his charitable activities, Vijay has set up the RHYTHM Foundation, a part of the Qi Group that engages in humanitarian activities globally. He has also received an award for education from the Malaysian Ministry of Education.
In addition, Vijay is a best-selling author with several books to his name. His most successful book is titled “In the Sphere of Silence,” and has been translated into multiple languages. Read more: Dato Vijay Eswaran: From taxi driver to worth over $500 million dollars
Qi Group is a direct marketing conglomerate that is currently estimated to have raked billions of US dollars in sales. Dr. Vijay Eswaran and his business associate, Joseph Bismark, founded the business in Malaysia. The company has offices in Hong Kong, Thailand, Malaysia, Singapore, and the Philippines.
Details of the annual profits of the company are not disclosed to the public, and the shareholding information is also kept within the walls of the firm. It is, however, a well-known fact that Vijay is the majority shareholder of the company, owning a stake of over 70 percent.
The company was founded back in 1998 after Vijay quit his job at a network marketing company. Originally, the firm was called Goldquest and was centered on gold coins. Vijay thought gold coins would be a great investment since their value kept fluctuating in the region, owing to the unstable governments. His opinion wasn’t wrong.
However, after a few setbacks, Vijay Eswaran decided to modify the company to include the marketing of common products, which is what it does to date. As he says, the company takes advantage of the power of direct sales and the wide reach of the internet to multiply its revenue. The company’s annual revenue is not disclosed, but it is estimated to be over 400 million USD.