Richest Man in India Builds $1 Billion Home

Actually Mukesh Ambani is worth $59BB... and for a short while he was supposed to be worth $63.5BB which made him the richest person in the world. Not bad eh? His brother is worth $49BB so I guess the family is doing well!

 

Only if he paints the exterior of the house Rosso Corsa does he ever actually have a chance of reselling it.

 

Thanks bro, That's why I am on Ferrari chat.

and yes, I am Indian.

 

That's some heavy numbers, big league. What business' are they in?

 

Oil & Telecoms. His wealth certainly seems to fluctuate widely, wikipedia pegs his coffers at 22bn$.

What about Mittal? I thought he was the richest man in India...

 

That building/home is completely over the top, I think it's awful. It's his money and can do whatever he wants for all I care but what a waste of $1b

My question is what's the motivation of building such a thing? Is it to draw attention or just thinks that vertical living is the wave of the future?

If I was a billionaire living in India I would want the whole country to know where I live...

 

Maybe this is one of those cases where you know you can do whatever you want to in this world and you just decide to rock it your own way, like the one off Enzo Pininfarina creation we know of - instead of buying supercars for lots of millions of dollars you just go and build your own. Maybe this family is tired of baller home and wanted something different. I think this will be a one off in the entire sub-continent.

And kudos for building something of massive proportions you know you won't get rid off.

 

Didn't the Indian Govt. deem this building a no-go, though?

 

Great white sharks can't live long in aquariums but I agree about the private track.

 

Thats because you havent seen my billionaire aquarium yet

 

It's not even 5% of his net worth. Assuming nothing changes his NW adversely in the future, he won't care about selling it, walking away from it, or even just knocking it down.

 

Yup, you are correct. Ambani is #2.

http://www.forbes.com/2007/11/13/india-billionaires-richest-biz-07india-cx_nk_1114india_land.html

Since the original article on the home was posted, his NW has gone to 49B, He's feuding with his brother, #3 at 45B.

Reliance Industries, one of the largest petrochem companies (and beyond) in the world.

 

Clearly he doesn't mind the financial implications of such a mammoth project. Don't know how the guy made his money but I'm pretty sure that the investor type billionaires (i.e. W. Buffet, C. Slim) would have a hard time sinking that kind of cash into an asset that is not likely to produce returns.

I wonder what the property tax will be on this building….

 

He could buy the Chrysler building in NYC, which has real style (art deco ftw ), and have $800 million left to do whatever he wants...

 

Will his neighbors get reassessed now? LOL
Erik

 

I'd take that deal and renovate the entire place. Only 200 million for the Chrysler though, thats surprising.

 

Looks like jenga....

 

Hmm...it sold in 1997 for $220 million. I found an article saying that it was sold again, in 2001, for close to $400 million. I'm guessing it's probably $500 million now. Ridiculous. Still some nice change left over compared to that junk in India he wants to build.

 

Not to mention you could probably renovate some floors and make some decent profit selling them as penthouses. If I ever had 1 billion dollars, I'm sure as hell not building that piece of crap in India.

 

I doubt profit is his motivation.

Anyone think the $1B number is inflated for a building of that size? I would imagine land in India is cheaper then NY/London/Paris et al, and labor cheap. Or is it due to the weak dollar?

 

price of land is quite high in india.....

having their own housing boom there too... so things are shooting up

 

All the more reason to not build something as ugly as that. I showed this to several people here in the office, and the universal reaction was one of disbelief...like the post was a hoax or something.

I suppose that the source Huffington Post and the cartoon-like nature of the rendering had something to do with it as much as the abominable architectural design.

Remember that Moen faucet ad - "design me a house around this" (a kitchen sink faucet)? Wonder what this guy brought in for the inspiration - a broken Rubic's Cube maybe?