Edelweiss leader Radhika Gupta opens up about choosing practicality over luxury cars

Radhika Gupta, the CEO and Managing Director of Edelweiss Mutual Funds, has shared the surprising reason behind her decision to forgo luxury cars, even though she can easily afford them.

Speaking on a recent podcast, Gupta revealed that her reluctance to own an expensive car stems from her belief that such vehicles are depreciating assets.

Gupta, who currently drives an Innova, explained that her perspective on luxury items has evolved significantly over the years. "I can't get myself to buy a luxury car. I can afford it, but I can't buy it," Gupta said. "Every time I tell myself 'I'm going to get a bonus, I'll buy myself a fancy car,' I think a car is a depreciating asset. I don't drive, and if I drive it out of home, 30 percent of the value will be gone."

Reflecting on her journey from a middle-class upbringing to becoming one of India's youngest CEOs, Gupta admitted that she once felt insecure about not owning designer items. However, her outlook has changed dramatically. "Eighteen years ago, when I graduated from college and people would say 'Oh! You don't have a fancy handbag?' I would feel insecure about it. Now, it someone says: 'Why are you driving an Innova?' I'm at a point where I can say, 'My place, my life'. I think it's because I don't have anything to prove [to anyone]."

Gupta's net worth is estimated to be around 41 crore, according to reports. Despite her considerable wealth, her approach to spending and investments remain grounded in practicality rather than luxury.