BR Shetty: The staggering rise and incredible fall of a billionaire
In mid-2018, during a media interaction, Bavaguthu Raghuram Shetty remarked: “If I don’t have one problem a day, that’s not a good day for me. I should have a problem, solve it and then feel satisfied.”
One must, as the adage goes, be careful about what one wishes for. At the time of the interview, there was not a cloud on the horizon for the Abu Dhabi-based billionaire-founder of NMC Health, then the biggest private healthcare company in the United Arab Emirates (UAE). Its 2012 IPO in the London Stock Exchange — the first for an Abu Dhabi-based company — was a blockbuster, raising £117 million. In 2014, he acquired UK-based forex major Travelex, paying £1 billion. A sprawl of smaller businesses that he owns across hospitality, education and pharma were all doing well. In 2017, he said he would produce the most expensive movie ever made in India — a feature based on the epic Mahabharata. Budget: Rs 1,000 crore.
Source: The Economic Times
