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The Rise And Fall Of Vijay Mallya: Know All About His Business Empire, Legal Tussle, Net Worth & More
Vijay Mallya, once a celebrated businessman, rose to fame with ventures in liquor, aviation, and sports. Over the years, his journey took a dramatic turn, leading to legal challenges and public scrutiny.
How It All Began
Vijay Mallya took over as chairman of United Breweries Group at just 28. Soon, he became known as the “King of Good Times,” expanding his empire across aviation, beverages, and real estate.
His Peak Wealth
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In 2013, Forbes estimated Mallya’s net worth at around 750 million dollars (Rs 6,422 crore). His flashy lifestyle made headlines, from private jets to luxury yachts.
Kingfisher Airlines Takes Flight
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Mallya launched Kingfisher Airlines in 2005 with top-class service. But global financial troubles hit hard, and the airline started to struggle.
The Fall Begins
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In 2016, Mallya left India after defaulting on loans worth over Rs 9,000 crore. In 2017, the Supreme Court declared him guilty in a case linked to Kingfisher’s downfall.
Net Worth in 2022
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According to The Independent UK, Mallya’s estimated net worth in July 2022 was around 1.2 billion dollars (Rs 10,297 crore), despite ongoing legal issues.
His IPL Dream
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He bought the Royal Challengers Bangalore team for Rs 476 crore in 2008, making it one of the costliest IPL teams. It was backed by United Spirits, owned by Mallya at the time.
Legal Battles Heat Up
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Mallya was accused of sending 40 million dollars (Rs 343 crore) to his children. In a 2017 contempt case, he was sentenced to four months in jail and fined just Rs 2,000 (£21).
His Lavish Properties
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As per India Today, Mallya owns a $2.4 million penthouse and three condos in Trump Plaza, New York—two with his daughter. He also owns a luxurious estate near Cannes, France.
What Mallya Says Now
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Speaking to Raj Shamani, Mallya said: “You may call me a fugitive… but where is the ‘chor’ (thief)? Where is the ‘chori’ (theft)?” He claims he left India on a scheduled trip and didn’t flee.
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