Vijay Mallya Net Worth & Biography
|Popular Name:||Vijay Mallya|
|Real Name:||Vijay Mallya|
|Birth Date:||18 December 1955|
|Birth Place:||Kolkata, India|
|Spouse(s):||Sameera Tyabjee Mallya (m. 1986; div. 1987)
Rekha Mallya (m. 1993)
|Profession:||Businessman, Entrepreneur, Investor|
|Net Worth:||$1 Billion|
Vijay Mallya is an Indian entrepreneur and former politician. He resides in the United Kingdom where he is currently facing charges of financial crimes. Attempts are being made by the government of India to convince the United Kingdom to extradite him. Known for his extravagant lifestyle, Mallya is the current chairperson of the United Breweries Group and the former chair of United Spirits Ltd which is known to be the largest spirits company in India. During the most active years of his life, this brilliant businessman became the chairman of several companies, including notable names like Bayer CropScience and Sanofi India. His career as a respected entrepreneur and business leader turned tempestuous in 2012 when he was indicted of multiple financial frauds. In March 2016, he moved to Britain from India, stating that he wanted to pay close attention to his family. With several Indian banks accusing him of money laundering and moving the Supreme Court, a legal case was filed against him. He has, of recent, denied any possibilities of returning to his home country India and has claimed that all accusations against him are fictitious. More details follow below.
Early Life: Childhood, Education
Vijay Vittal Mallya was born into an affluent business family in Kolkata, India on December 18, 1955. His father, Vittal Ramaiah, was, at that time, the chairman of the United Breweries Group. His mother was Lalitha Mallya.
He completed his high school and college education in Kolkata. Upon finishing high school, he joined the prestigious La Martiniere College in Kolkata. His leadership skills were apparent from his early days, as he was selected as the captain of the Hastings House while in college. He later enrolled at St. Xavier’s College in Kolkata to further his studies.
While pursuing his education, Vijay started taking an interest in the family businesses and had an internship there. After that, he moved to the United States to intern at Hoechst AG, a US-based chemical company. Later on, he returned to India to join his father’s business.
Professional Life: Business Career, Politics
He was 28 years old when his father passed away in 1983. The mantle of leadership at United Breweries Group was passed on to him and he started to lead the group as its chair. Upon Vijay taking charge, the company which had initially operated on a smaller level started to achieve tremendous success and went on to become a multinational business of more than 60 companies. Soon, Vijay brought all his companies under one group and the United Breweries Group (or the UB Group) was formed. As the company expanded and grew more successful, Vijay acquired many other brands and companies, including, Cine Blitz, The Asian Age, Berger Paints, and Best and Crompton.
All through the 80s and the 90s, Vijay Mallya enjoyed great success and fame, and soon became one of the most mentioned businessmen in India. Toward the late 70s, he launched Kingfisher beer, which still remains India’s highest-selling beer brand, making up over 50 percent of the total beer consumed within India. The beer is also served in more than 50 countries around the world and is reputed for being the most successful Indian beer abroad.
In February 2015, Vijay was forced to step down from the position of the chairman of United Spirits with a compensation check of $75 million (which has been blocked by Indian courts).
In 2005, Vijay laid the foundation of Kingfisher Airlines which became successful due to the world-class facilities it provided to its customers. The Indian domestic-flight business was not considered profitable at that time, but Vijay’s new company managed to change the game. The smooth run of the company was later brought to a halt starting from 2007 when it acquired Air Deccan. The downfall of the company was marked when it started flying internationally and started experiencing major losses. By 2009, the airline company had already been saddled with massive debt, and eventually, operations had to be shut down. Several of the company employees remained unpaid for months, and several small businesses suffered debts with Kingfisher. This incident is registered as one of the most notorious and biggest debacles in the Indian business scenario.
Vijay’s companies own the Royal Challengers Bangalore team of the Indian Premier League since the inception of the annual cricket tournament in 2007. He is also one of the co-owners of the Indian Formula One team ‘Force India’. Additionally, Mallya is the owner of the football teams East Bengal Football Club and the Mohun Bagan AC.
Vijay Mallya used to be a politically active personality. He was associated with the ‘Akhil Bharata Janata Dal’ for many years until he joined the ‘Janata Party’ in 2003. Mallya was the party president for 7 years from 2003 until 2010. In 2002, he contested the elections from his home state of Karnataka as an independent candidate with ample support from the Janata Dal and the Congress Party and won. In 2010, he switched allegiance and was supported by the BJP, which had him winning again.
In May 2016, a few days after the accusations of his criminal dealings and money laundering surfaced in the media, he stepped down from his ‘Rajya Sabha MP’ position. By then, he had already left the country. In his resignation letter, he had mentioned that he was “shocked” at the legal charges against him and that he was not confident of getting any justice in India and was left with no options but to quit the country.
Personal Life: Wife, Children, Private Interests
In 1986, the businessman married Sameera Tyabjee, a former Air India air-hostess. They had a son the following year and named him Siddharth Mallya. However, the couple divorced a year after the birth of their baby. Vijay has maintained that he has been on good terms with his former wife even after the divorce.
In 1993, he got married to his childhood friend Rekha. They have daughters. Rekha had been divorced on two occasions prior to her marriage to Vijay, who adopted her daughter, Leila.
Known to be an extremely religious person, Vijay prays every day and takes the 42-day ‘Sabarimala’ annual seriously, during which periods he wears only black clothes. He also happens to be a follower and close friend of the Art of Living Foundation founder Sri Sri Ravi Shankar.
Vijay Mallya Net Worth: Salary, Income Sources, Assets
The Indian businessman and politician, Vijay Mallya, currently has a net worth that is estimated at over $1 billion. Born in Kolkata, West Bengal, India, to a wealthy family, this man took over the family’s business from his father upon his passing and succeeded in expanding the United Breweries Group as its chairman. In 2012, he ceded management control of the company to Diageo and has since been completely focused on his position as the chairman of United National Breweries. Aside from alcohol production and distribution, the group of companies focuses on information technology, aviation, engineering, life sciences, agriculture, and chemicals. Additionally, the businessman’s wealth is supplemented by numerous investments he has made in different ventures, including the football teams East Bengal Football Club and the Mohun Bagan AC, the Indian Formula One team ‘Force India’, and the Royal Challengers Bangalore team of the Indian Premier League.