Latest news with #FiguringOut
Yahoo
a day ago
- Business
- Yahoo
Tech Founder Pledges to Leave $17 Billion Fortune to His 106 Children
Originally appeared on E! Online Pavel Durov is leaving a special message in his family group chat. The Telegram founder recently revealed that he's dividing his massive fortune—an estimated $17.1 billion, per Forbes—between all 106 of his children. 'I want to specify that I make no difference between my children: There are those who were conceived naturally and those who come from my sperm donations,' Durov, 40, told French outlet Le Point in an interview published June 19. 'They are all my children and will all have the same rights. I don't want them to tear each other apart after my death.' Indeed, the Russian tech mogul explained that he's the 'official father' of six children from three different partners. Meanwhile, he decided to 'help a friend' by becoming a sperm donor nearly 15 years ago, resulting in him fathering 100 kids across 12 countries. More from E! Online What Happened to Dallas Cowboys Cheerleader Chandi Dayle? Americas Sweethearts Bahamas Scandal Explained Kourtney Kardashian Bares Her Bottom in Cheeky Black Dress Alec Baldwin's Wife Hilaria Baldwin Claps Back at Comments on Her Weight And while he wants to spread his wealth equally, his children will have to wait a while for their share. In fact, Durov—who launched Telegram, a cloud-based messaging app, alongside his brother Nikolai Durov in 2013—noted his offspring will not have access to their inheritances until '30 years' after the day of his interview with the French publication. 'I want them to live like normal people,' he continued, 'to build themselves up alone, to learn to trust themselves, to be able to create, not to be dependent on a bank account.' This revelation comes months after the billionaire was arrested and charged in France with enabling illegal crimes, ranging from child sex abuse material and drug trafficking, to occur on his platform last August. While Durov is out on bail, he faces up to 10 years in prison if convicted, according to the New York Times. As for his growing fortune, Durov isn't the only billionaire that's been open about passing down assets to their next of kin. In fact, Bill Gates—who shares kids Jennifer, 28, Rory, 25, and Phoebe, 22, with ex-wife Melinda French Gates—revealed he's leaving 'less than one percent' of his reported $116 billion fortune to his family, which amounts to over $1 billion. 'It's not a dynasty,' he explained on Raj Shamani's Figuring Out podcast in March, noting that giving his children a larger portion 'wouldn't be a favor to them.' 'I'm not asking them to run Microsoft. I want to give them a chance to have their own earnings and success, be significant and not overshadowed by the incredible luck and good fortune I had.' Keep reading to see more celebrities who have a billion dollar net worth… 14. Taylor Swift13. Dick Wolf12. Magic Johnson11. LeBron James10. Tiger Woods9. Rihanna8. Tyler Perry7. Peter Jackson6. Kim Kardashian5. Jay-Z4. Oprah Winfrey3. Michael Jordan2. Steven Spielberg1. George Lucas For the latest breaking news updates, click here to download the E! News App
Time of India
10-06-2025
- Entertainment
- Time of India
Who is Raj Shamani? The Indian podcaster who hosted international names like Bill Gates, Vijay Mallya, and more
Raj Shamani, the internet sensation, has been getting all the praise after his recent 4-hour-long insightful podcast with Vijay Mallya . With a creative approach and sheer determination, the 27-year-old content creator built a massive following like no other. Not only did the middle-class boy from Indore manage to achieve success on social media, but he also became a household name with his interviews of high-profile guests, including Bill Gates , Aamir Khan , Karan Johar , and many more. Who is Raj Shamani? Born on July 29, 1997, in Indore, Madhya Pradesh, Raj Shamani had his tumultuous childhood with academic struggles and financial stumbles. When he was 16, he was running a business after his father's diabetic attack. To give a helping hand in his house to cover medical bills and to meet day-to-day expenses, Raj started making soaps with the help of YouTube tutorials, according to DNA. Raj's father used to trade in chemicals used in detergents and soaps. After taking a ₹10,000 loan, Shamani started his business, Jadugar Drop, managing to balance pH levels and creating wonders with chemicals. Raj Shamani's podcast and more In 2021, Raj finally launched his podcast that focused on personal development from the conversations with influential figures, Figuring Out, after putting out motivational videos on Instagram and YouTube for months. Among Shamani's other notable achievements, he is one of the youngest Indian speakers at the United Nations Youth Assembly and a 4-time TEDx speaker. He has collaborated with top financial brands in the market and has founded a platform for creators like him. Today, Raj Shamani is one of the successful young entrepreneurs with a turnover of more than a hundred crore rupees. He had a long way from selling soaps from door to door to getting knocked by one of the celebrities at his door.
India.com
08-06-2025
- Business
- India.com
Meet Raj Shamani: Podcaster Who Overcame Stage Fear, Recently Interviewed Vijay Mallya, Now Earns Over Rs 50 Crore – Check His Net Worth
photoDetails english 2912978 One might be living under a rock if they haven't seen podcaster Raj Shamani's recent interview with Vijay Mallya. The episode made headlines, marking one of Mallya's rare public appearances in years. Updated:Jun 08, 2025, 04:15 PM IST Who Is Raj Shamani? 1 / 7 Raj Shamani is a popular podcaster and entrepreneur who has interviewed several influential personalities, including Vijay Mallya. Born in July 1997, he commands a massive presence on social media and has become one of India's most followed content creators. Massive Popularity 2 / 7 Raj Shamani has garnered over 8 billion views across platforms and has millions of subscribers. His interview guests have included big names like Lalit Modi, Karan Johar, Aamir Khan, and Vijay Mallya. From Financial Struggles to Building His Own Empire 3 / 7 At the age of 16, Raj had to step up after his father suffered a diabetic attack. He began supporting his family's struggling business and sold products under his own brand, Jadugar Drop, contributing to Shamani Industries. Battling Public Speaking Fears 4 / 7 Despite being a public figure today, Raj has openly spoken about his fear of public speaking. His journey from stage fright to delivering TEDx talks and addressing global forums is remarkable. Content Creation Journey 5 / 7 Raj began by sharing motivational content. In 2021, he launched the Figuring Out podcast, which has since become a major hit. As of July 2024, he boasts 3.77 million YouTube subscribers and 2.6 million Instagram followers. Net Worth and Income 6 / 7 Raj Shamani has built a business empire beyond podcasting. His estimated net worth is Rs 91 crore (approximately $11 million). He earns over Rs 20 lakh annually from YouTube ad revenue alone and runs multiple ventures including Shamani Industries and House of X, a D2C-enabler platform for creators. According to a report by Times Now, Raj's monthly income exceeds Rs 1 crore, with an estimated annual income of Rs 15 crore. Other Achievements 7 / 7 Raj's achievements are as impressive as his rise: Youngest Indian speaker at the United Nations Youth Assembly 4× TEDx speaker Featured in Forbes India, Entrepreneur, and Business World Founder of House of X, collaborating with brands like CRED, CoinDCX, and Groww
Mint
07-06-2025
- Business
- Mint
Vijay Mallya—declared a fugitive economic offender—wants to return home. What are his options?
Mumbai/Bengaluru/New Delhi: After nearly a decade of silence, Vijay Mallya, the flashy business tycoon who founded one of India's fanciest airlines that eventually went kaput and resulted in him being declared a fugitive economic offender, has re-emerged to tell his side of the story. The 'King of Good Times' wants to return to India and clear his name if promised a 'fair trial and a dignified existence", he said in a podcast recorded in London, where he has resided since leaving India in 2016. 'We all know how long detentions and trials can last in India," he said. 'That's not justice." But while the former liquor baron has legal remedies available to him to return to India and settle the outstanding cases against him, it won't be a smooth landing, say legal experts. 'If Vijay Mallya steps off a plane in India, the legal chessboard lights up instantly," said Ketan Mukhija, a senior partner at law firm Burgeon Law. Mallya could voluntarily appear before the court and surrender, thereby invoking his right to apply for bail, including anticipatory bail, Mukhija said. Mallya's legal team, however, would have to contest every existing arrest warrant, lookout circular, and non-bailable order, arguing on grounds of procedural irregularities or the absence of fresh incriminating evidence, Mukhija added. Article 21 of the Constitution, which guarantees the right to life and personal liberty, including the right to a fair trial, would govern Mallya's request for a 'fair trial', according to Ajay Khatalawala, managing partner at law firm Little & Co. Mallya can also contest the tag of fugitive economic offender. The tag is proclaimed by a court when an individual accused of a serious financial crime, usually involving large sums, either flees the country or refuses to return to face trial. If Mallya decides to return to India and surrender, he can file a petition seeking to have the declaration of fugitive economic offender rescinded. However, the court will only consider such relief if it is satisfied that the return is genuine and made without mala fide intent, Khatalawala said. What Mallya said The podcast called Figuring Out, hosted by Raj Samani, featured Mallya's first public conversation in nine years, during which he claims to have not been given a chance of fair trial by the media. He claimed to be a victim of media sensationalism and political scapegoating. 'I regret one thing, which is that after all my hard work, all the value that I created in so many multiple ways, that effectively, the government of India and, of course, the media made me a zero from a hero. And that's a fact of life that I have had to stomach and live with," he said. At a very young age, Mallya was 'installed in the hot seat" as he became the chairman of the Bengaluru-based United Breweries Group after his father Vittal Mallya's demise in 1983. Helming UB Group, Mallya built Kingfisher beer into a dominant brand with over 50% market share. The eponymous airline that followed in 2005 was his vision to 'produce the best flying experience that India had ever seen". The acquisition of low-cost carrier Air Deccan in 2007 was widely blamed for Kingfisher Airline's downfall. Mallya said the acquisition was a calculated consolidation and not a means to by-pass a rule that required an airline to be operational for five years before it could fly internationally. The downward spiral came after the 2008 global financial crisis. Mallya said he approached the then finance minister Pranab Mukherjee with his plan to downsize his airline. Mukherjee asked him not to downsize and promised the airline would be supported by banks, Mallya claimed. Mukherjee passed away in 2020. With fuel cost rising and the government not allowing foreign investment in the aviation sector further complicated matters for Kingfisher Airlines, Mallya said. It was 'the economy, the circumstances, the government policy then existing all conspired to create a perfect storm through which King Fisher could not survive". 'Paid more than what was due' Mallya claimed in the podcast that while he owed only ₹6,203 crore to various banks, India's ministry of finance has reported a recovery of ₹14,131.6 crore, which is 'multiple times over." 'I am not a chor (thief)," Mallya said, refuting allegations that he fled India in March 2016 to evade authorities following the bankruptcy of Kingfisher Airlines, insisting he had planned a visit to Geneva to attend an international conference. Kingfisher Airlines, which was grounded in October 2012, owed more than ₹7,500 crore to lenders led by State Bank of India. The airline had accumulated losses of ₹16,023.46 crore as of 31 March 2013. He was being investigated by the Enforcement Directorate (ED), the Central Bureau of Investigation (CBI), and the Serious Fraud Investigation Office (SFIO) for various economic offences. But on 15 April that year, the ministry of external affairs suspended his passport. On the podcast, Mallya said he responded to a summons by the ED requesting more time to negotiate with his foreign collaborators to sell shares and settle the dues. Asked why he didn't fight harder to get his passport restored and return to India, Mallya said he was overwhelmed by the number of legal battles. 'How many fronts should I open at once? These are expensive and time-consuming battles." Fugitive or fall guy? Refuting allegations that he siphoned off funds from Kingfisher Airlines, Mallya said he infused ₹3,000 crore of United Breweries funds into the airline to keep it afloat. 'Nobody talks about that. If I intended to steal, would I have pledged my own shares and given personal guarantees?" he said. Mallya claimed that banks recovered double the amount he owed them by selling his assets. 'Yet despite 15 formal requests, they haven't given me a statement of account," he said. On the podcast, Mallya apologized for the non-payment of salaries to Kingfisher Airlines's employees. He claimed he made repeated attempts to get the Karnataka High Court to release ₹260 crore that it had frozen so he could pay employee wages. 'I offered settlements multiple times between 2012 and 2015 but they were all rejected," Mallya said. 'I am deeply sorry and I take full responsibility for it." Industrialist Harsh Goenka spoke out in Mallya's defence. While Mallya lived a 'high life" and had defaulted on loans, his dues have reportedly been settled, he said. 'Meanwhile, bigger defaulters walk free with much fatter haircuts from banks," Goenka said on social media platform X. 'If dues remain, the banks should clearly say so. If not, why is he still a political punching bag?" Mallya replied to Goenka on X that the finance ministry had 'confirmed in writing that Banks have recovered ₹14,100 crores from me against a DRT (debt recovery tribunal) judgement debt of ₹6,203 crores". Shriram Subramanian, the managing director of proxy advisory firm Ingovern doubts Mallya will return to India as there is no guarantee on what will happen to him. 'He has been the punching bag for all the large loan defaults by businessmen," said Subramanian. 'The cultivated political connections, lavish parties, and hi-profile public image makes him the ultimate fall guy."
Time of India
06-06-2025
- Business
- Time of India
Vijay Mallya calls 'ease of doing business' a myth in India, says extreme rules are rooted in Indian DNA, regardless of who is in power
I had to be in the good books of 29 CMs: Mallya — TheVijayMallya (@TheVijayMallya) Declines to comment on bribe in India — TheVijayMallya (@TheVijayMallya) Claims of unfair treatment in India — TheVijayMallya (@TheVijayMallya) Says he may return if promised fair trial Live Events — TheVijayMallya (@TheVijayMallya) Says former associates distanced themselves Apologises to Kingfisher staff Blames 2008 crisis, recalls talks with Pranab Mukherjee Approached finance minister to downsize operations Sought layoffs due to financial pressure Willing to return if assured fair trial (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Fugitive businessman Vijay Mallya , currently in the UK and facing extradition, has criticised India's business environment, calling it heavily bureaucratic and politically influenced. Speaking on Raj Shamani's podcast Figuring Out, Mallya said, 'There is no ease of doing business in India. It's in the Indian DNA. No matter what a state or federal government may say, there are bureaucratic and political hurdles all along the way.'Mallya explained that operating his liquor business in India required coordination with all 29 state governments, each with its own liquor laws. 'I had to be in the good books of 29 chief ministers,' he said. He also shared that during elections, political parties demanded campaign funds from the liquor industry. 'Sometimes these aspirations were completely unreasonable and impractical,' he said, adding, 'During elections, I would leave the country to avoid being accessible.'When asked about unofficial payments or bribes, Mallya said, 'I'm not going to confirm or deny that… I think you know India as much as I know India.'Mallya left India in 2016 after his passport was revoked amid charges of financial misconduct. 'My freedom ended the day they took my passport,' he said. He also questioned the government's recovery of funds, claiming that more than double the Rs 6,203 crore debt tribunal judgment was recovered. 'If I defrauded the banks, how did the government recover so much?' he said he would consider returning to India if he is guaranteed a fair trial. 'If I am assured absolutely [of a fair trial], I will think about it seriously,' he said most of his political and business contacts cut ties with him after he left India. 'One politician told me, 'If we're seen with you, this government will come after us,'' he said. He mentioned Biocon founder Kiran Mazumdar-Shaw as someone who stayed in touch and called her 'like a sister.' Mallya added, 'In tough times, you learn who your real friends are.'Vijay Mallya issued a public apology to former employees of Kingfisher Airlines over unpaid salaries and explained why he was unable to clear their dues. Mallya, who is facing charges of bank loan fraud in India, claimed that court restrictions prevented him from releasing the funds. Vijay Mallya said he deeply regrets the hardship caused to Kingfisher Airlines staff due to unpaid dues. 'I would say, I am deeply sorry for what happened… I am deeply sorry that some of them didn't get paid their salaries, I have no excuses to offer, I take full responsibility but for those who care to listen, there was money lying in the deposit with the Karnataka High Court,' he former airline boss also said that he had applied to the court seeking permission to use the funds to pay the employees. However, the banks objected, and the court denied his request. 'I specifically applied to court to pay the salaries of Kingfisher Airlines staff, the banks objected, and the court refused the permission. There was really nothing I could do beyond that,' Mallya the podcast, Mallya also spoke about the economic challenges his airline faced during the 2008 global financial crisis. He said he had approached then Finance Minister Pranab Mukherjee to downsize operations, but the government did not agree.'I was told not to downsize King Fisher at that time and yes the banks did support,' Mallya said. He added that he was unable 'to operate under these depressed economic circumstances' but was still asked to maintain full operations to ensure air Mallya said he had met the then finance minister Pranab Mukherjee during the 2008 financial crisis to discuss the financial stress faced by Kingfisher Airlines. He explained that the airline was struggling to stay afloat and needed to reduce its fleet size and workforce to manage to Mallya, he told the finance minister that he could not sustain operations in the weak economic environment without reducing the scale of the airline. He said, 'I went to Shri Pranab Mukherjee... and said I have a problem. Kingfisher Airlines needs to downsize, cut the number of aircraft, and lay off employees, as I can't afford to operate under these depressed economic circumstances.'Mallya left India in 2016 amid allegations of defaulting on loans worth over Rs 9,000 crore. In the same podcast, he said he is open to returning to India if given an assurance of a fair trial.
