India is home to numerous billionaires, and their count keeps growing each year. Indian billionaire Mukesh Ambani, with a staggering net worth of $113.3 billion (approximately Rs 9 lakh 43 thousand crore), dominates the list of the wealthiest people in the world, according to Forbes and other publicly available data. Currently, he is the 11th richest man in the world. Following him is Gautam Adani, who holds the 18th position. However, there also have been many wealthy Indians who lost a significant portion of their wealth along with their billionaire status, due to various reasons.
The billionaire we’re talking about once owned multiple floors in the world’s tallest building, Burj Khalifa, traveled in a private jet, owned multiple luxury cars, and more. Scroll down to find out more about him.
Meet the Indian billionaire who once owned multiple floors in Burj Khalifa, traveled in a private jet and luxury cars, had a net worth of Rs 18000 crore, and sold his company for Rs 74
The Indian billionaire mentioned above is Bavaguthu Raghuram Shetty, who is also known as BR Shetty. He moved to the Gulf in search of opportunities with just Rs 665 and went on to build one of UAE’s biggest health operators, NMC Health. This achievement propelled him to a whole new league of billionaires. According to DNA and other online reports, BR Shetty had a net worth of Rs 18,000 crore at the peak of his career. He had even expanded his business portfolio with various new ventures, including Finablr, BRS Ventures, and Neopharma, apart from NMC Health.
The Indian billionaire accumulated a huge wealth and led a luxurious life. His extravagant possessions included two floors in Burj Khalifa valued at $25 million (almost over Rs 200 crore), a private jet worth crores, and several expensive cars such as Maybach and Rolls Royce. He also owned lavish properties in Dubai’s World Trade Centre and Palm Jumeirah.
In 2019, BR Shetty’s business empire suffered a major setback when a UK-based investment research firm led by Carson Block accused him of inflating cash flow to conceal actual debt, which eventually resulted in a significant decline in NMC Health’s shares, that only got worse over time. BR Shetty was eventually forced to sell his company to an Israeli-UAE consortium for just Rs 74. This former Indian billionaire’s story is one of the biggest examples of corporate collapse in the past decade that rattled the entire business world.
