6 things to know about B.R. Shetty: the Indian former billionaire joined Bill Gates’ The Giving Pledge and even gifted a Rolls-Royce to his favourite musician K. J. Yesudas

Sep 17 , 2021

Not only does B. R. Shetty have a large collection of cars, he’s also got a few private jets in his arsenal too. Photo: @RahulReply/Twitter

The tycoon is famous for his rags-to-riches origins, and once gifted Indian classical musician K. J. Yesudas his custom made Rolls-Royce during a concert in Dubai

But he fell from grace when his UAE-based health care chain NMC Health was investigated, speaking fraud allegations and billion-dollar debts

Indian entrepreneur Bavaguthu Raghuram Shetty was once worth around US$3.15 billion. Now, the rags-to-riches businessman is facing fraud charges after research firm Muddy Waters questioned his UAE-based health care chain NMC’s financial statements, sparking allegations of fraud and the disclosure of more than US$4 billion in hidden debts.

Shetty has now lost most of his wealth, and he is even banned from returning to the UAE – the place where he made his fortune.

So how did the once ultra-rich businessman, who came from humble beginnings in Karnataka, India, end up being accused of fraud? Here’s six things you need to know about the former billionaire and the man behind NMC Health.

Bavaguthu Raghuram Shetty with Indian Prime Minister Narendra Modi. Photo: @DrBRShetty/Twitter

From rags to riches

Bavaguthu Raghuram Shetty bought all the units on the 100th and 140th floors of the Burj Khalifa. Photo: Asghar Khan

The disgraced businessman is known for his inspiring rags-to-riches story in India. Shetty was born in Karnataka, Udupi. He comes from a family of farmers, who were not wealthy but well-respected in the area. He has three brothers and three sisters.

He had to borrow money

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