Vijay Mallya (born December 18, 1955) is an Indian billionaire and Rajya Sabha MP. The son of industrialist Vittal Mallya, he is the Chairman of the United Breweries Group and Kingfisher Airlines, which draws its name from United Breweries Group's flagship beer brand, Kingfisher.
As of 2008, Mallya was ranked as the 162nd richest person in the world and the 41st in India with a net worth of $1.2 billion. He receives substantial press coverage that focuses on his lavish parties and his hotels, automobiles, Formula1 team Force India, IPL Cricket team Royal Challengers Bangalore and his yacht, the Indian Empress.
Personal life
The Konkani-speaking Mallya is originally from the town of Bantwal, Mangalore in Karnataka. He was educated at La Martiniere Boys' College, Calcutta in Kolkata and completed his degree from St. Xavier's College, Calcutta under Calcutta University. He later set up business ventures in Dubai, United Arab Emirates. Mallya has received several awards both in India and overseas. Mallya is married twice. His first wife was Sameera and they have a son together, named Sidhartha Vijay Mallya. Sidhartha was educated at Wellington College in Crowthorne followed by Queen Mary's College in the University of London. Later on, he married Rekha and has two daughters Laila and Tanya Mallya and one son.
Business
Breweries
Mallya took over as Chairman of the United Breweries Group in 1984. Since then, the group has grown into a multi-national conglomerate of over sixty companies with an annual turnover which has increased by 639% to US$11.2 billion in 1998-1999. The focal business areas of the group encompass alcoholic beverages, life sciences, engineering, agriculture, chemicals, information technology, aviation and leisure. He owned McDowell Crest.
In May 2007, United Breweries Group announced the all-cash acquisition of scotch whisky maker Whyte & Mackay for £595 million (approximately Rs 6000 crore). In 2005 he took over Millennium Breweries Ltd (formerly known as Inertia Industries Ltd), which owned the two premium beer brands named Sandpiper and Zingaro.
Airlines
In 2005, Vijay Mallya established Kingfisher Airlines. At present, the airline connects 32 cities. Kingfisher Airlines obtained a 26% stake in Air Deccan, a low cost Indian airline which Mallya later acquired fully and integrated into his Kingfisher fleet, rebranding it as Kingfisher Red. Mallya plans to pick up a personal, controlling stake in Epic Aircraft, a US-based aircraft manufacturing company.
Association with sports
Formula One
Mallya also has shown interest to hold a Formula 1 race in India as the Indian Grand Prix. Greater Noida near New Delhi is the target, track designer Hermann Tilke, F1 boss Bernie Ecclestone, and Delhi CM Sheila Dixit. F1 track designer Hermann Tilke has designed a layout for a street-race like Monaco in New Delhi. The plan is to have the first Indian F1 race in 2009-2010. Tilke has previously designed F1 tracks in Turkey, China, Bahrain and Malaysia. The set-up cost of the race would be at least U$100 million. This is considerably less compared to building a brand new track specifically for car racing. Tilke wants the cars to go around India Gate and down Rajendra Prasad Rd.
Football
Mallya's United Breweries sponsors the East Bengal and Mohun Bagan football clubs in Kolkata.Recently linked with buying into the new revolution at Queens Park Rangers FC, as part of the Bernie Ecclestone, Flavio Briatore and Lakshmi Mittal consortium.
Cricket
Mallya's flagship firm UB Group owns the Royal Challengers Bangalore team in the Indian Premier League. He won this team in an auction by paying US$111.6 million for the team. The Royal Challengers Bangalore team includes players like Rahul Dravid, Anil Kumble, Kevin Pietersen, Jacques Kallis, Shivnarine Chanderpaul, Robin Uthappa, Mark Boucher, Sunil Joshi, Misbah-ul-Haq, Ross Taylor and Dale Steyn.
Horse racing
Mallya also owns the company, United Racing and Bloodstock Breeders (URBB) which has interests in horse racing. URBB runs the Kunigal stud farm, under lease from the Government of Karnataka.
Political career
Mallya entered politics in 2000 and replaced Subramanian Swamy as the president of the Janata Party, a breakaway faction of the original Janata Dal party. His party contested almost all of the 224 seats during the Karnataka State legislative election. He campaigned vigorously through the media, but his party failed to make any impact and did not win a single seat. Following the party's failure in the elections, it has been largely ignored by the media.
Auction purchases
Vijay Mallya is noted for his successful bidding in auction of items that are considered of great cultural value to India. In 2004, he placed the winning bid of £175,000 for the sword of
Tipu Sultan at an auction in London in 2004, and brought it back to India. In March 2009, Mallya successfully bidded for the belongings of Mahatma Gandhi at US$1.8 million, in a New York auction that initially caused an uproar in India and its government tried and failed to prevent it from going under the hammer.
Achievements
· Establishment of Mallya Hospital in Bangalore. The hospital is located in Vittal Mallya Road, named after his father.
· Helped to fund the Mallya Aditi International School, a prestigious private school in Bangalore.
1 comment:
does that deal was taxed or not.
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