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Mumbai – Radhika Gupta, Managing Director and CEO of Edelweiss Mutual Fund, recently opened up about her decision not to own luxury cars, even though she can easily afford them. Speaking on a podcast, the Shark Tank India judge reflected on her middle-class upbringing and how her values shape her spending decisions, despite her financial success.
“I can’t bring myself to buy a luxury car. I can afford it, but I just can’t,” Ms. Gupta shared, explaining her practical reasoning. “Every time I think about buying one with a bonus, I remind myself that a car is a depreciating asset. I don’t even drive, and the moment I take it out, 30 per cent of its value is gone.” Instead, she prefers to drive an Innova, which she finds practical and reliable.
Radhika Gupta reflected on how she once felt insecure about not owning expensive designer items, especially after finishing college 18 years ago. “I would feel insecure when people pointed out my lack of expensive items,” she admitted. However, now as one of India’s youngest CEOs, she has outgrown the need to prove herself through material possessions. “If someone asks why I drive an Innova, I can confidently say, ‘My life, my choice.’ I no longer feel the need to prove anything,” she emphasised.
In addition to her podcast discussion, Ms. Gupta has been vocal about her concerns regarding the financial decisions of today’s youth. Earlier, she took to social media platform X (formerly Twitter) to comment on young people funding luxurious lifestyles through risky investments. She pointed out that many young women and men are using trading gains to finance extravagant purchases like luxury handbags and high-end living, which she finds worrying.
“I have seen people in their 20s saying they don’t need to work because they are busy doing F&O (futures and options trading). Young women say their lifestyle and handbags are funded by trading gains,” she wrote.
Ms. Gupta highlighted the risks associated with such investments, even referencing the Economic Survey 2023-24. She shared a screenshot of the survey, cautioning that “this type of liquidity is hazardous for individuals as well as the economy.”
As someone who has navigated the financial industry and understands the consequences of such investment practices, Ms. Gupta stressed the need for regulators to take action. “Other regulators have also rightly and repeatedly warned us about this. It is finally time for action,” she concluded.
Radhika Gupta’s words serve as a reminder that financial stability and responsible spending often outweigh the allure of luxury purchases. Her views resonate with many who face similar decisions about balancing personal values with societal expectations.
Sources By Agencies
