This man once successfully led Kissan, Berger Paints, Cadbury, his net worth was…, Vijay Mallya is his....
New Delhi: Vijay Mallya, once dubbed the 'King of Good Times', recently grabbed headlines after his first interview since 2013, in a conversation with podcaster Raj Shamani, where he discussed a wide range of topics. In his four-hour-long video podcast aired on Thursday, Mallya claimed he made four settlement offers between 2012, following the collapse of the now-defunct Kingfisher Airlines, and 2015, which the banks 'refused to accept'.
After taking up the role of United Breweries Group chairman at the age of 28, the liquor baron expanded into various sectors, including aviation, beverages, and real estate. Known as the 'King of Good Times,' the journey of the successful businessman to a fugitive has been full of controversies.
According to Forbes, his estimated net worth was around $750 million in 2013. In contrast, Vijay Mallya's most recent net worth estimate, as reported by the Independent UK in July 2022, was approximately USD 1.2 billion. Vijay Mallya's Father:
Vijay Mallya's father, late Vittal Mallya, was a known name in the world of business entrepreneurship and made his name by creating a big empire with a focus on the alcohol industry. Vittal led big brands Kissan, Cadbury, Berger Paints, Hindustan Polymers, Mangalore Fertilisers, British Paints and Mysore Electro-Chemical Works.
Vittal Mallya had a huge impact on Vijay Mallya's life. Both Vittal and Vijay's school and education had taken place in Calcutta, and Vijay, after nine years, recently spoke about his bond with his late dad, Vittal, his strictness, the differences that the father, son had and how Vittal was known to be a frugal spender.
Vijay, in a recent podcast of Raj Shamani, spoke about his father and said that Vittal studied in Dune school, topped his class and expected Vijay to also do the same. Vijay then shared what his father told him that made him take his academics seriously. In his words:
'Nevertheless, he said something to me that I think I remember till today. Two things made a profound impact- one, if you are not good enough, you are not going to step into my shoes. The second thing he said was, Do you realise that while I say step into my shoes, there may not be any shoes at all, because then there is the government and social policies may have taken everything away from us. The only thing I can leave to you is your education, so take it seriously. I think I repaid some amount of it because for my last three years in school, I think I came within the top three in class, and he was very happy about it,' Vijay Mallya.
'He was a man of few words. He did one thing that embarrassed me no end. Every time he saw me, he gave a big kiss on my cheek. Whether it was at the airport, office, or home, he would give me a hug and a big kiss on the cheek. Bless him for that,' he added. Vijay Mallya's personal life
Mallya married Sameera Tyabji in 1986, though their marriage ended a year later. In 1993, he tied the knot with Rekha Mallya, and the couple has three children – Siddharth, Leanna, and Tanya.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
an hour ago
- The Print
Gold climbs Rs 400 to Rs 98,020/10 g; silver rises Rs 500
In the national capital, gold of 99.5 per cent purity appreciated by Rs 300 to Rs 97,800 per 10 grams (inclusive of all taxes) on Monday. The yellow metal had settled at Rs 97,500 per 10 grams in the previous market close. On Friday, the precious metal of 99.9 per cent purity had closed at Rs 97,620 per 10 grams. New Delhi, Aug 4 (PTI) Gold prices climbed Rs 400 to Rs 98,020 per 10 grams in the national capital on Monday due to fresh buying by stockists, according to the All India Sarafa Association. In addition, silver prices increased Rs 500 to Rs 1,10,000 per kilogram (inclusive of all taxes) on Monday. The white metal had finished at Rs 1,09,500 per kg on Friday. 'Gold prices traded very strong, driven by a weak rupee and disappointing US macroeconomic data on Friday. The data supported gold prices in the international market, which climbed to USD 3,355 per ounce. 'Tariff-related concerns and rupee depreciation added to the upside momentum. In the week ahead, investors will shift their focus to the upcoming RBI monetary policy meeting and US manufacturing data to provide further guidance on the trajectory of bullion prices in the near-term,' Jateen Trivedi, VP Research Analyst — Commodity and Currency, LKP Securities. Meanwhile, spot gold was trading flat at USD 3,363.83 per ounce in New York. 'Spot gold is trading at USD 3,355 per ounce as risk assets are bid on rate cut hopes; however, sharp decline in the Indian rupee on tariff concerns supports the domestic gold prices,' Praveen Singh, Associate Vice President, fundamental currencies and commodities, at Mirae Asset Share Khan, said. However, spot silver rose 0.43 per cent to USD 37.20 per ounce in the overseas markets. PTI HG TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
an hour ago
- The Print
Internet firm Rediff explores options to raise USD 100 mn
The board of is currently evaluating fundraising options and is expected to finalize the structure in the coming weeks, they said. However, the IPO option has a high chance of being chosen by management for its USD 100 million fundraising, sources said. The company, which is majority owned by financial technology company Infibeam Avenues Ltd, is considering options such as launching an IPO, private placement, or through private equity participation to raise capital, sources privy to the development said. Mumbai, Aug 4 (PTI) Internet company Rediff is exploring options, including an initial public offering, to raise up to USD 100 million (around Rs 875 crore) to accelerate its push into enterprise-grade email, business productivity suite and digital payments, according to sources. When contacted, Rediff Senior Vice-President for Corporate Development, Ashish Mehrota, said, 'Yes, our company explores various fundraising options from time to time. At this stage, we do not have anything specific to share, but we are evaluating options.' Sources said that the company will use the funds to accelerate its push into enterprise-grade email and business productivity suite -RediffOne, and digital payment – RediffPay. Infibeam has been investing aggressively in data centres, AI platforms, and now, sovereign digital services — all areas where Rediff is expected to play a central role, sources said. The firm had launched its AI-powered productivity suite RediffOne last year and looks to offer similar services that global majors like Microsoft, Google, and Zoho are offering, sources said. While almost all major productivity suites — Microsoft 365, Google Workspace, and Zoho — are headquartered in the US or elsewhere in the West, Rediff remains the only large-scale Indian player in this category. The company claims over 20,000 businesses currently use Rediffmail Enterprise, in addition to millions of individual users on its flagship email platform. PTI IAS MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
an hour ago
- Economic Times
Handful of groups investing in India; low consumption growth a concern: Parth Jindal
Synopsis Parth Jindal of JSW Group highlights that only a few companies are currently investing in India. He emphasizes the need for broader participation in private capital expenditure. JSW Group plans to invest USD 50 billion in the next five years, showcasing its confidence in India's growth potential. PTI JSW Paints MD Parth Jindal Only a "handful" of corporates are investing in India, JSW Group scion Parth Jindal said on Monday, stressing the need for "democratisation" when it comes to private capital expenditure. The Mumbai-headquartered group having interest in cement, steel, ports and sports, believes in India's growth potential and will invest USD 50 billion over the next five years, the 35-year-old Parth, the son of Sajjan Jindal, told reporters here. "You have today a handful of groups investing in India. We need it to be more democratised. We need more MSMEs to invest. We need everyone to invest," Jindal, the managing director of the USD 49 billion group's cement and paints arms, told reporters here. It can be noted that some other industry captains, including billionaire banker Uday Kotak, have expressed concerns around investments getting done by a few groupings in the past. The JSW Group is investing across its businesses, Jindal said, pointing out that while his father Sajjan Jindal -- the group chairman and managing director -- has announced investing USD 60 billion over five years, group executives are pegging it at USD 40 billion and he himself feels it will be USD 50 billion. "We believe that there's incredible potential in India, incredible potential to export from India as well. And also really... in the China plus one strategy," the Jindal family scion said. Other private companies have opted deleverage or paying off their loans over investment in capacity addition, which is more sought after for the growth impetus it gives, Jindal said. Private companies have strong balance sheets, but they are not investing, he rued, adding that the government is also "perplexed" about this phenomenon because the fundamentals of the economy are very strong. Stating that manufacturing in India needs to go up, Jindal pointed to challenges around land acquisition and labour laws being a deterrent to invest. "(there are) so many laws, so many rules... tribal land, SC (Scheduled Caste) land, ST (Scheduled Tribe) land, OBC (Other Backward Classes) land. I mean, it's very difficult for any foreign company to come and understand or even a startup to come and think about it. So, that needs reform," Jindal said. The government has done a lot of reform, and its arms like the Niti Aayog are looking into how this can be reversed. Jindal also flagged concerns around the sagging consumption growth in the country, pointing out that it is a "tale of two Indias" where the top 20 crore people in the country are spending. "...it's a tale of almost two Indias. Now, you have a widening gap between the top 200 million Indians and the rest. And that's a really big concern because you're seeing value growth, but you're not seeing volume growth. And that could only mean that, you know, that this divide is increasing," he said. Jindal said JSW Group looks at manufacturing as its core strength, where it can put up a big plant right from acquiring a piece of land to erecting the facility. The group will list either the e-commerce arm JSW One or JSW MG Motors over the next two years, he said.
