Rich and Poor Mallya

mallayVijay Mallya the colourful corporate honcho wears many hats at a time. He fancies Tipu Sultan’s sword, Ferraris, latest jets and costliest yachts. After UB group unveiled King Fisher airlines Mallya hogged global limelight for his entrepreneurial adventures. He turned off the low cost airlines cultures and tuned in king on the skies style. This was his successful turn around of the industry. He always broke stereotypes and set high standards.

 

In the recession affected economy he chooses to be an ordinary industrialist rather than a smart corporate hero. He got submerged in the global corporate fashion of carrying begging bowl to the government quarters for bailout. A month back he applied for a bailout of his King Fisher. He told government authorities that he is almost broke and no money to sustain his airlines. While giving this dark picture about his financial situation he went on to spend lavishly on his personal fancies.

 

 This contradictory lifestyle of Mallya had got him equated with other corporate fraudsters. In USA this double standards of corporate heads are common. While their companies are reeling under meltdown crisis their salaries and lifestyles are the same. They might have chucked out million workers but they have not scaled down their expenses.

 

In the latest spin off Mallya had stirred public controversy over his buying intention of an island off Monte Carlo. The news report put that Mallya paid between $100 million and $150 million (Rs.500 to Rs.750 crore) for the private island near Monte Carlo. He puffed off the rumour.

 

Mallya own islands in Maldives and Lakshadweep. He also bought 1000 acres of land in Himalayas. This land is going to be used for mountain tourism. The UB group chairman runs Mabula Game Lodge near Johannesburg in South Africa.  This lodge is 12,000 hectares which is one of the largest and finest private game reserves.

 

The Times of India (23.1.2009) p.13 reports “Mallya’s lifestyle – the sheer lavishness of it – leaves most bedazzled. He has houses around the globe; castles in Scotland, town houses in London, Monte Carlo, Manhattan (Trump Towers), Sausalito and innumerable properties in India. While ‘Niladri in Mumbai and ‘Kingfisher Villa’ in Goa are the best known, he has hidden gems like the heritage, colonial bungalow with the best garden in Ooty, besides houses in Delhi and his home town Bangalore.

 

His three yatchs: Idian Empress, Indian Princess and Kalizma, his four private jets, his 240 strong vintage car collection, his Force India Formula 1 tem and thoroughbreds not to mention the Porsches, Bentleys, Maserattis and Ferraris make Mallya the most colourful of Indian businessmen.”

 

One should not complain about Mallay’s lifestyles. As long as he keep his business profit and loss to himself. During profit session he did not help Government with funds nor he gave a good sum for the social cause. But he came to the government to eliminate his loss and asked for waiving off the pending arrears with AAI and oil PSUs. This is totally contradictory and shames him in the eyes of public. Whatever he fancies is tabloid news and it helps others to compete for such a lifestyle. Although it negatively races the consumer culture it can be allowed. One thing which cannot be tolerated is his selective application of rich and poor status of himself according to the situations. If he wants social support and government aid he should help both when his finances are sound.

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1 Comment

  1. Md zia said,

    +00002010-05-01T01:08:52+00:00312010bUTCSat, 01 May 2010 01:08:52 +0000 2, 2008 at 7.27 p05

    Hi ths is md zia frm bangalore my aim is 2 knw how 2 bcum a rich personilities like mallaya’s


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