Latest news with #Sivasankaran
India.com
13-05-2025
- Business
- India.com
Meet Bankrupt Indian Billionaire: Once Owner of 2 Islands And 71-Room Mansion With Net Worth Of Rs 33,400 Crore, Now Left With Only...; Know Who He Is..
photoDetails english 2900673 Success Story: Former telecom tycoon's journey feels straight out of a dramatic biopic. Once a telecom tycoon and owner of two private islands, a 71-room mansion in Chennai, and properties around the world, Chinnakannan Sivasankaran was known in business circles simply as 'Siva.' Today, he describes himself as broke and leading a modest life. In a recent appearance on The Ranveer Show on You Tube, former telecom tycoon Sivasankaran opened up about his incredible rise and the humbling fall that followed. Updated:May 13, 2025, 07:53 PM IST Aircel Founder: Humble Beginnings 1 / 7 Chinnakannan Sivasankaran was raised in a modest household in Tamil Nadu. Despite limited means, he harbored big dreams and would go on to become one of India's most talked-about entrepreneurs in the tech and telecom sectors. Chinnakannan Sivasankaran Sterling Start In IT 2 / 7 In the 1980s, Sivasankaran founded Sterling Computers, which quickly became a notable name in India's IT landscape. By the 1990s, Sterling was among the leading players, marking the beginning of his ambitious business journey. Aircel Revolution 3 / 7 Sivasankaran launched Aircel in 1999, a telecom company that won consumers with its value-for-money offerings. Aircel rose to prominence in a highly competitive market, becoming one of the fastest-growing telecom brands in India at the time. Aircel Founder: The Maxis Deal 4 / 7 In 2006, Siva sold a 74% stake in Aircel to Malaysia's Maxis Communications. The deal later became controversial, drawing attention during the infamous 2G spectrum scandal, though it initially marked a major financial milestone for him. Chinnakannan Sivasankaran Net Worth 5 / 7 Aircel eventually filed for bankruptcy in 2018. Sivasankaran claimed personal losses of ₹7,000 crore, a dramatic shift from his earlier success when his net worth was estimated at over $4 billion. Aircel Founder Lavish Lifestyle 6 / 7 Before the collapse, the 68-year-old serial entrepreneur lived a luxurious life—owning multiple global properties, including a Rs 524 crore mansion in Chennai with 71-rooms, a 14-acre estate in California with a helipad, award-winning mansions, and even two private islands. Chinnakannan Sivasankaran: A New Perspective 7 / 7 Speaking on The Ranveer Show, Siva revealed he now owns just a 2-acre plot. He added that he won't build a house until he resolves all his ongoing issues, reflecting on a life of rise, fall, and reflection. (Image Credit: @ranveerallahbadia/ YT)
India.com
12-05-2025
- Business
- India.com
Meet owner of 2 Islands, 71-Room Palace with Rs 32000 crore net worth, the man is now broke, Aircel was his...
Chinnakannan Sivasankaran- File image You must have heard many success stories on but here is a story of someone who o nce the owner of two private islands, a lavish 71- room mansion in Chennai, lived a successful life but is now broke. Once the owner of properties in various continents, Chinnakannan Sivasankaran is widely known in business circles as ' Siva'. The tragedy of his life is such that he now describes himself as a broke man . Here is all you need to know about Chinnakannan Sivasankaran and his journey. The life of Sivasankaran's unfolds like a gripping biopic. Sivasankaran was r aised in a humble household in Tamil Nadu, Sivasankaran and had an extraordinary journey ahead. With his path moving him through India's corporate world, he achieved everything he could but ultimately lost his billion- dollar business empire. In a recent appearance on The Ranveer Show , the former telecom magnate reflected on his meteoric rise and dramatic fall. ' I'm not poor, I'm just broke for the time being,' he said with a serenity that contrasts the storms he's weathered. 'I had everything – wealth, properties, recognition – and then I watched it all vanish,' he was quoted as saying by a report by News18 about his journey. 'I decided what I had to do next. My story is not over yet,' he declared, he added about his plans. Entrepreneurial rise of Chinnakannan Sivasankaran The entrepreneurial rise of Chinnakannan Sivasankaran began in the 1980s with Sterling Computers, a key player in India's IT sector by the 1990s. However, the major breakthrough in the career of Chinnakannan Sivasankaran came with the launch of Aircel in 1999. Aircel, the telecom company quickly gained wide popularity traction due to the consumer likable offers that it used to provide. It became a prominent brand, leading to Siva selling a 74% stake to Malaysia's Maxis Communications in 2006—a deal that later drew scrutiny in the controversial 2G spectrum scandal. Downfall of Chinnakannan Sivasankaran Though Sivasankaran avoided criminal charges, he was involved in legal battles and got in huge trouble due to the mounting debt. By the year 2018, Aircel filed for bankruptcy, with Siva claiming personal losses of Rs 7,000 crore. The report also says that his net worth was once over $4 billion, but with the downfall of Aircel, everything changed.
NDTV
08-05-2025
- Business
- NDTV
"Would've Made Rs 1 Lakh Crore": Aircel Founder C Sivasankaran Shares "Two Mistakes" He Regrets The Most
C Sivasankaran, the founder of bankrupt cellular operator Aircel, recently opened up about the regrets that still weigh on him. Speaking on the podcast with Ranveer Allahbadia, the entrepreneur spoke about his journey of losing Rs 7,000 crore and then bouncing back. He also shared two simple factors that cost him the fortune of a lifetime - not learning Hindi and not relocating to major cities like Delhi or Mumbai earlier in his career. "If I had learned Hindi, I would have attracted all 140 crore Indians," Mr Sivasankaran said, adding, "And if I had moved to Delhi or Bombay when I was younger... I would have definitely made Rs 1 lakh crore." Watch the podcast below: The self-made tycoon further explained how geography and language left him isolated from India's power corridors. "I don't want to take loans. I attract money," he told Allahbadia. "At 68, I've never borrowed Rs 100 in personal capacity," he shared. Yet, despite his entrepreneurial instincts and knowledge, Mr Sivasankaran revealed that his biggest deals slipped through not because of a lack of vision, but possibly because of a lack of connection. "I made two mistakes," he said. "Not learning Hindi. And not moving to Delhi or Bombay. That's it," he told Allahbadia. Elsewhere in the podcast, the entrepreneur also revealed his most expensive purchases before he filed for bankruptcy. He shared that he invested heavily in real estate and bought multiple houses across the world. "What was the most expensive purchase you had made?" Ranveer Allahbadia asked Mr Sivasankaran. "One island," he replied. The entrepreneur revealed that he used to own two islands in Seychelles, which he has now sold. He said that he bought the islands because he wanted to feel like he was living in his own country called "Republic of Siva". "And then I bought houses in Seychelles, America, Canada, London... I had a desire to have a country of residence in all continents, so I bought it," Mr Sivasankaran said. "When I bought houses I lived in a fancy house - Rs 524 crores, 71 bedrooms. Then they demolished it. But I bought back half of that house," the entrepreneur shared. "Now I have a 2-acre plot, but I don't want to build the house. First I want to solve all the problems," he said. Mr Sivasankaran also revealed that before bankruptcy, he also owned a 14-acre house in Fremont, California, which had a helipad, and a mansion in Canada, which won awards.
Time of India
06-05-2025
- Business
- Time of India
Not learning Hindi was a Rs 1 lakh crore loss: Aircel founder C Sivasankaran's honest confession on Ranveer Allahbadia's podcast
In a rare, no-excuses moment of introspection, Aircel founder C Sivasankaran opened up about the regrets that still weigh on him, not missed deals or market crashes, but two brutally simple things: not learning Hindi and not moving to Delhi, Mumbai or even Chennai. Speaking on the podcast with Ranveer Allahbadia , the telecom veteran admitted that these mistakes early in his career may have cost him the fortune of a lifetime. #Pahalgam Terrorist Attack India orders nationwide defence drills as Indo-Pak tensions rise From blackouts to bunkers: Inside India's civil defence mock drills across 244 districts on May 7 A woman spy who helped India defeat Pakistan in 1971 'If I had learned Hindi, I would have attracted all 140 crore Indians,' he said. 'And if I had moved to Delhi or Bombay when I was younger, I would have definitely made Rs 1 lakh crore.' Sivasankaran, who built Aircel at the age of 24, described how he made his first Rs 12,000 from a fabrication job, and never borrowed again in his life. 'I've never taken even Rs 100 in personal capacity,' he said. 'I don't want to take loans, I want to attract money. And when you do that, money flows.' Aircel founder C. Sivasankaran, better known as "Siva," is a serial entrepreneur and one of India's most unconventional business minds, known for spotting market inflection points long before they became mainstream. He began his business journey in 1985 with the acquisition of Sterling Computers from Robert Amritraj. At a time when personal computers were considered luxury items, Siva disrupted the industry by offering PCs at just Rs 33,000—far below the competition, catapulting Sterling into the ranks of India's top three computer firms. But it was in telecom where Siva made his boldest bets. In 1992, he secured a five-year contract with MTNL , then a state-run monopoly in Mumbai and Delhi. His foresight told him that telecom would soon open up to private players. In 1999, Chinnakannan Sivasankaran founded Aircel from his native village of Kovilur in Cheyyar taluk, Tiruvannamalai district, Tamil Nadu. Starting with operations in Tamil Nadu, Aircel quickly grew into a dominant player in the region, becoming the market leader in the state. The company also expanded its footprint across key telecom circles in Odisha, Assam, and the North-East, establishing a strong presence in underserved markets. Under Sivasankaran's leadership, Aircel carved out a niche in the competitive telecom space by focusing on regional strength and consumer affordability. However, after failed merger talks with Reliance Communications, the company struggled to sustain operations and eventually, it filed for bankruptcy.
Hindustan Times
05-05-2025
- Business
- Hindustan Times
The ‘broke' billionaire whose ₹524 crore house in Chennai was demolished
Chinnakannan Sivasankaran epitomises the classic tale of a meteoric rise followed by a dramatic fall in the business world. The founder of telecom giant Aircel, which filed for bankruptcy in 2018, recently appeared on The Ranveer Show, where he spoke about his journey of losing ₹7,000 crore and then bouncing back. 'My case is pending in the Supreme Court. When it is heard, I will get my money back,' the 68-year-old serial entrepreneur told podcaster Ranveer Allahbadia during the episode. Sivasankaran – often known as Siva – said that he read Donald Trump's book before filing for bankruptcy and it motivated him to keep going. 'The same day I filed for bankruptcy, I drew a plan for what I will do to become a billionaire again,' he revealed. 'I am not poor. Many people in India think I am poor. No, I am broke,' said the founder of Aircel, whose net worth was once estimated to be over $4 billion. Asked about his most expensive purchases before he filed for bankruptcy, Sivasankaran said he invested heavily in real estate - buying multiple houses across the world and even two private islands. A post shared by Ranveer Allahbadia (@ranveerallahbadia) 'What was the most expensive purchase you had made?' Ranveer Allahbadia asked Sivasankaran. 'One island,' he replied casually. Sivasankaran revealed that he used to own two islands in the Seychelles, which he has now sold. He said that he bought the islands because he wanted to feel like he was living in his own country – 'Republic of Siva,' he quipped. "And then I bought houses in Seychelles, America, Canada, London… I had a desire to have a country of residence in all continents, so I bought it,' the entrepreneur added. The former crorepati also revealed that he once owned a house in Chennai for which he paid a staggering ₹524 crore. The house, with 71 rooms, has now been demolished. 'When I bought houses I lived in a fancy house – ₹524 crores, 71 bedrooms,' he said. 'Then they demolished it. But I bought back half of that house,' he said. 'Now I have a 2 acre plot, but I don't want to build the house. First I want to solve all the problems.' Elsewhere during the podcast, Sivasankaran said he also owned a 14 acre house in Fremont, California, which had a helipad, and a mansion in Canada which won awards.
