BILLIONAIRES WHO LOST ALL

                      (Vijay Mallya)

Patricia Kluge
John Kluge was once the richest in the world. His personal wealth in 1990 was $5 billion. At the time of divorce John's wife Patricia Kluge was left with $1 million in alumni and she also received the lavish estate in the Virginia country side. She developed the estate into winery and vineyard. She then took a loan of $65 million to start a real estate business. She built over a dozen luxury villas. Patricia was forced to default on her loans after the banking and housing crisis in 2008. That led to the sale of Virginia estate and her other valuable possessions. She came to the rock bottom level. The Virginia estate, winery and vineyard of Patricia Kluge was purchased by Donald Trump.

Vijay Mallya
Vijay Mallya took over the business from his father at the age of 28. He turned this into a multi-billion dollar business firm. He himself became the "King of Good Times." His personal wealth reached $1.5 billion and became the richest Indian liquor baron. When all was going fairly well his Kingfisher airlines started bringing him trouble. The debt over the airlines mounted up. He was constrained to step down from the position of Chairman of United Spirits. The debt became millions of dollars and Mallya fled from India to seek refuge in UK. He is currently subject to extradition from UK while facing massive financial fraud. From being a billionaire Vijay Mallya fast came down to a criminal.

KV George
kvgeorgein@gmail.com

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