Edelweiss CEO Radhika Gupta Explains Why She Shuns Luxury Cars Despite Wealth

Speaking on a podcast, Radhika Gupta shared her perspective on material wealth, shaped by her middle-class upbringing

Radhika Gupta, one of the youngest CEOs in India, explained that while she appreciates expensive cars, their status as depreciating assets deters her from buying them.

Source : Radhika Gupta/ X

Radhika Gupta, CEO and MD of Edelweiss Mutual Funds, recently opened up about her decision to avoid purchasing luxury cars, despite being in a financial position to afford them. Gupta, one of the youngest CEOs in India, explained that while she appreciates expensive cars, their status as depreciating assets deters her from buying them. She currently drives an Innova.

Speaking on a podcast, Gupta shared her perspective on material wealth, shaped by her middle-class upbringing. Initially, she admitted to feeling insecure about not owning designer items or fancy goods, but over time, her mindset evolved.

"I can't get myself to buy a luxury car. I can afford it, but I can't buy it," Gupta said during the interview. "Every time I tell myself 'I'm going to get a bonus, I'll buy myself a fancy car,’ but then I think a car is a depreciating asset. I don't drive much, and even if I did, the moment I take it out, 30 percent of the value is gone."

According to estimates by the Times of India, Gupta's net worth is about Rs 41 crore.

Reflecting on her journey with money over the past 18 years, Gupta shared how societal expectations no longer influence her decisions. "When I graduated, not having a fancy handbag made me feel insecure. Now, if someone questions why I'm driving an Innova, I can confidently say, 'My place, my life.' I no longer feel the need to prove anything to anyone."

Today (Monday), she posted on her X account, saying, "My comment about not being able to afford a fancy car is everywhere, and now I'm getting playful messages from car companies."

My statement about not being able to buy a fancy car seems to be everywhere, and lots of car companies are sending fun messages 😀

But the real idea was to talk about the deeper parts of money. About our fears and insecurities that influence how we save and spend, about how we…

— Radhika Gupta (@iRadhikaGupta) September 16, 2024