Meet Chandrakumari Shetty, wife of Dubai billionaire BR Shetty who was forced to sell his Rs 124000000000 empire for only Rs 74 because…
Business
Meet Chandrakumari Shetty, wife of Dubai billionaire BR Shetty who was forced to sell his Rs 124000000000 empire for only Rs 74 because…
Meet Chandrakumari Shetty, wife of Dubai billionaire BR Shetty who was forced to sell his Rs 124000000000 empire for only Rs 74 because…
Sometimes, a single mistake is all it takes to bring down everything a man has built. In this article, we will talk about Chandrakumari Shetty, wife of Dubai billionaire BR Shetty who was forced to se
Sometimes, a single mistake is all it takes to bring down everything a man has built. In this article, we will talk about Chandrakumari Shetty, wife of Dubai billionaire BR Shetty who was forced to sell his Rs 12400 crore company for just Rs 74 due to…
Dr. B.R. Shetty, the visionary behind NMC Health, was once a billionaire and a towering name in the UAE's business world. But in 2019, everything changed when U.S.-based firm Muddy Waters Research alleged that his companies had hidden $1 billion in debt from investors. The revelation sent shockwaves through the financial world, triggering the collapse of his business empire. Shetty was eventually forced to sell his company for a mere Rs 74, marking one of the most dramatic downfalls in corporate history.
Born on August 1, 1942, in Udupi, Karnataka, B.R. Shetty came from a humble middle-class background. In 1973, he moved to Dubai with just $8 (around Rs 665) in his pocket, fueled by hopes of building a better life. Starting out as a door-to-door medicine salesman, Shetty's determination and strong networking skills paved the way for something remarkable — the founding of NMC Health, which went on to become the UAE's first private healthcare provider.
In 2019, at the height of his success, B.R. Shetty's net worth was estimated at $3.15 billion (around ₹20,000 crore), earning him a spot among India's richest, according to Forbes. His lavish lifestyle reflected his immense wealth—complete with private jets, a fleet of Rolls-Royce cars, and multiple luxury properties, including two entire floors in Dubai's iconic Burj Khalifa.
'In a step towards backward integration into the healthcare sector, Dr. Shetty set-up Neopharma in 2003. Neopharma is a state-of-the-art manufacturing facility and has collaborations with multinational companies like Pfizer, Merck, Abbot Laboratories, GSK, Hetero Pharmaceuticals and Biocon to name a few. Recently, Neopharma has acquired an antibiotic manufacturing facility in the USA,' reads his LinkedIn bio.
Dr. Chandrakumari Raghuram Shetty, a respected medical professional in her own right, played a crucial role in the early growth of NMC Health. She joined her husband, Dr. B.R. Shetty, in his ambitious venture when he opened his first medical centre in 1975. As the company's first in-house doctor, she was instrumental in building its clinical foundation and later rose to become the Group Medical Director, shaping the medical direction of the entire organization.
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