Why CEO of Edelweiss Mutual Fund Chooses an Innova Over a Luxury Car!
Radhika Gupta, the Managing Director and CEO of Edelweiss Mutual Fund, recently shared her perspective on why she chooses not to own luxury cars, despite her financial ability to do so. While acknowledging the appeal of high-end vehicles, Gupta prefers practicality over luxury, opting to drive a Toyota Innova instead.
In a recent podcast, the Shark Tank India judge opened up about her middle-class upbringing and how, at one point, she felt insecure about not possessing luxury items. However, as one of India’s youngest CEOs, she now feels no compulsion to prove her success through material wealth.
“I could easily buy a luxury car, but I just don’t see the point,” Gupta said. “Every time I consider using a bonus to purchase one, I remind myself that cars are depreciating assets. I don’t even drive, and the moment you take a car out of the showroom, it loses 30% of its value.”
Gupta also reflected on her early years, sharing how, 18 years ago, she would feel uneasy when people commented on her lack of designer goods. “Today, if someone asks me why I drive an Innova, I confidently respond, ‘My life, my choice.’ I no longer feel the need to prove anything to anyone,” she added.
Previously, Gupta expressed her concerns on X (formerly Twitter) regarding the increasing trend of young people funding extravagant lifestyles through risky investments. “I’ve seen people in their 20s claim they don’t need a job because they’re focused on trading derivatives. Young women have told me their luxury lifestyles and handbags are funded by trading gains,” she wrote.
