Kingfisher Airlines, owned by Vijay Mallya, owes lenders approximately Rs 7,500 crores. His employees haven't been paid their salaries in several months, leading the wife of one staffer to commit suicide. But that didn't stop the King of Good Times, as Mallya likes to be called, from reportedly spending Rs 4 crores to buy a race horse ironically named Air Support earlier this week.
Why shouldn't he? After all, in 2012, the Forbes billionaire list estimated that he was worth $800 million. And, to be fair, the value of Air Support seems pretty insignificant compared to some of Mallya's other toys.
Mallya is chairman of the UB group, which has Rs 19,000 crores in debt across all its companies. Perhaps it is time to sell some of the more expensive babies in the following list?
The Indian Empress yacht
The 95-metre-long yacht is one of the largest in the world and was previously owned by the Qatari royal family. Mallya has claimed to creditors that he merely leases the boat for four weeks every year. Even if this is true, that doesn't come cheap: the Indian Empress is estimated to rent for Rs 51 million a week plus expenses.
Tipu Sultan's sword
Mallya paid around Rs 15 million for the sword, which was sold at a London auction in 2004.
Gandhi's glasses, sandals and other items left after his assassination
Mallya bought a few of Gandhi's personal belongings — his eyeglasses, a pocket watch, a plate and bowl from which he had eaten his last meal and his leather sandals — for Rs 111 million, causing an uproar in India.
A castle in Scotland
Mallya owns Keillour Castle in Perthshire, Scotland and stayed there while conducting business relating to one of his brands.
A game lodge
The Mabula Game Lodge near Johannesburg in South Africa is owned by the business tycoon.
An Formula 1 team
The Sahara Force India Formula One Team was bought by a consortium led by Mallya for about Rs 7.6 billion in 2007.
An IPL team
Mallya bought the Bangalore IPL team in 2009 for Rs 6.8 billion, which was the second-highest bid after Mukesh Ambani's slightly higher bid for the Mumbai team.
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Why shouldn't he? After all, in 2012, the Forbes billionaire list estimated that he was worth $800 million. And, to be fair, the value of Air Support seems pretty insignificant compared to some of Mallya's other toys.
Mallya is chairman of the UB group, which has Rs 19,000 crores in debt across all its companies. Perhaps it is time to sell some of the more expensive babies in the following list?
The Indian Empress yacht
The 95-metre-long yacht is one of the largest in the world and was previously owned by the Qatari royal family. Mallya has claimed to creditors that he merely leases the boat for four weeks every year. Even if this is true, that doesn't come cheap: the Indian Empress is estimated to rent for Rs 51 million a week plus expenses.
Tipu Sultan's sword
Mallya paid around Rs 15 million for the sword, which was sold at a London auction in 2004.
Gandhi's glasses, sandals and other items left after his assassination
Mallya bought a few of Gandhi's personal belongings — his eyeglasses, a pocket watch, a plate and bowl from which he had eaten his last meal and his leather sandals — for Rs 111 million, causing an uproar in India.
A castle in Scotland
Mallya owns Keillour Castle in Perthshire, Scotland and stayed there while conducting business relating to one of his brands.
A game lodge
The Mabula Game Lodge near Johannesburg in South Africa is owned by the business tycoon.
An Formula 1 team
The Sahara Force India Formula One Team was bought by a consortium led by Mallya for about Rs 7.6 billion in 2007.
An IPL team
Mallya bought the Bangalore IPL team in 2009 for Rs 6.8 billion, which was the second-highest bid after Mukesh Ambani's slightly higher bid for the Mumbai team.
