Vijay Mallya's Net Worth: From Billionaire to Fugitive

Vijay Mallya, the former owner of Kingfisher Airlines and the Royal Challengers Bangalore (RCB) IPL team, has had a tumultuous journey from a billionaire businessman to a fugitive. According to Forbes and The Independent (UK), Mallya's net worth surged from $750 million in 2013 to $1.2 billion by July 2022. However, his financial and legal troubles have marred his reputation and led to a decade-long stay in the United Kingdom, where he fights extradition to India.

At the age of 28, Mallya became chairman of the United Breweries Group, a position he used to build a sprawling conglomerate that spanned liquor, aviation, real estate, and sports. His flamboyant lifestyle and high-profile ventures, including ownership of RCB and sponsorship deals in Formula 1, made him a household name. However, his ambitious foray into aviation with Kingfisher Airlines proved to be his undoing.

Kingfisher Airlines, launched in 2005, faced financial distress following the 2008 global financial crisis. The airline eventually defaulted on loans worth over ₹9,000 crore (approximately $1.1 billion). By 2012, Kingfisher Airlines ceased operations, and Mallya came under mounting scrutiny from Indian regulators and banks. In 2016, he left India for the UK on what he insists was a “prescheduled visit,” shortly before being accused of wilful default.

“I didn’t run away. I flew on a prescheduled visit,” Mallya said in a recent podcast with entrepreneur Raj Shamani. “Fair enough, I didn’t return for reasons that I consider are valid… so if you want to call me a fugitive, go ahead. But where is the ‘chor’ (thief) coming from? Where is the ‘chori’ (theft)?”

The Supreme Court of India declared Mallya guilty in 2017 in a contempt of court case for transferring $40 million to his children, breaching court orders. He was sentenced to four months in jail and fined ₹2,000 (£21). Despite India's formal extradition request, Mallya continues to reside in England, calling his stay there “fully legitimate.”

“A business failure is compared or is equivalent to a fraud,” he added during the interview, arguing that entrepreneurial risk should not be criminalized.

In terms of assets, Mallya reportedly owns a penthouse and three luxury condos at Trump Plaza in New York, some co-owned with his daughter. He also holds the Le Grande Jardin estate in France, located on Sainte-Marguerite Island near Cannes, according to reports from India Today.

Mallya has continued to maintain his innocence, stating publicly that he is open to returning to India, provided he is assured a fair trial. His legal team has argued that Indian prisons do not meet the required standards for extradition under UK law.

While some of his businesses continue to operate, including interests in the liquor sector via United Breweries (now majority-owned by Heineken), his reputation remains tarnished. His case has become a symbol of India’s struggles with high-profile financial offenders, raising broader concerns about corporate governance, bad loans, and regulatory oversight.

As Mallya turns 69 this year, his fall from grace reflects a wider narrative about unchecked ambition, the fragility of debt-fuelled empires, and the complexities of cross-border justice.