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Meet man whose airline went bankrupt, still has Rs 43894 crore net worth, he is...
He earned Rs 1141 crore in September 2024 after selling a 10-acre parcel in Mumbai.
Updated : Feb 08, 2025, 05:36 PM IST
 "Meet man whose airline went bankrupt, still has Rs 43894 crore net worth, he is...")
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Several Indian business persons try to expand their business empires by venturing into different spaces. Sometimes, the idea works and they become more rich. However, sometimes it doesn't work at all. Many Indian billionaires have to declare their companies bankrupt and it doesn't affect their 'billionaire' tag. One such person whose airline went bankrupt after being in the air for years is Nusli Wadia, the chairman of the Wadia Group. The 80-year-old's loss-making budget airline Go First declared bankruptcy in 2023.
However, this didn't affect his billionaire status as he still has USD 5 billion or Rs 43894 crore net worth, as per Forbes. His Wadia group is involved in the FMCG, textiles, and real estate industries, among other things. Group companies include Britannia Industries and home textiles company Bombay Dyeing.
In September this year, he sold a 10-acre parcel in Mumbai for over USD 130 million (around Rs 1141 crore). Besides, his son Ness Wadia co-owns the Kings XI Punjab IPL team. Wadia is often referred to as a corporate samurai by Indian media for waging multiple legal battles, including against his former pal Ratan Tata and the Tata Group. Ratan Tata got him ousted from the boards of three Tata firms in 2016. Wadia, along with his two sons, are the direct and only living descendants (on his maternal side) of Muhammad Ali Jinnah, the founding father of Pakistan.
READ | Meet woman, who works in Rs 163000 crore company, daughter of Hyderabad’s richest man
