Vijay Mallya, who became the chairman of United Breweries Group at the age of 28, built a diverse business empire across aviation, beverages, and real estate. Once known as the “King of Good Times,” Mallya saw his fortune decline over the years following controversies and legal troubles. According to Forbes, his net worth was around $750 million in 2013. As per a 2022 estimate by The Independent, it was approximately $1.2 billion.
Lavish International Properties
Mallya reportedly owns a $2.4 million penthouse in Trump Plaza, New York, along with three luxury condos in the same building—two of which were purchased jointly with his daughter. He also owns the Le Grand Jardin estate on the Island of Sainte-Marguerite in France, near Cannes.
Kingfisher Airlines Collapse
In 2012, Mallya’s Kingfisher Airlines ceased operations amid mounting debt and financial setbacks. Mallya blamed the 2008 global financial crisis for the airline’s downfall. He has claimed that efforts to restructure and downsize the business were blocked by authorities, leading to further financial strain.
Legal Troubles and Extradition Case
After being accused in a bank loan default case involving over ₹9,000 crore, Mallya left India for the UK in 2016. In 2017, the Supreme Court of India found him guilty in a case linked to the defunct airline. He was also convicted for transferring $40 million to his children and sentenced to four months in jail, along with a ₹2,000 fine in a contempt of court case. India formally requested his extradition in 2017, which he continues to fight in UK courts.
Mallya’s Response to Allegations
In a podcast with YouTuber Raj Shamani, Mallya defended his actions and denied accusations of theft. “You may call me a fugitive for not going to India post March, but I didn’t run away. I flew on a prescheduled visit,” he said. Questioning the labels placed on him, he added, “If you want to call me a fugitive, go ahead. But where is the ‘chor’ (thief) coming from? Where is the ‘chori’ (theft)?”
Willingness to Return
Despite ongoing legal challenges, Mallya has stated he is willing to return to India if assured a fair trial. He continues to maintain that he is being unfairly targeted and that he has made multiple attempts to settle debts with Indian banks, which were rejected.
