F1 Team Owner Loses Half His Fortune – Sells Clifton Pad For R70 Million

17 Mar 2014 by Jasmine Stone in Real Estate

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Times are tough for Vijay Mallya. It’s almost a year since he shutdown his airline and had his name taken off the Forbes billionaires list. The Indian mogul’s estimated net worth has dwindled from $1.4 billion in 2012,  to a mere $750 million in October last year. This bad spell has led Mallya to part ways with his R70 million Clifton pad.

Mallya’s luxurious Cape Town property features a glass elevator, porcelain tiles imported from Italy, a walk-in safe and a gym. It even has garage space for four cars, and in Clifton that’s a big deal.

But don’t feel too bad for Mallya, he still has loads of other investments all over the world, including Mabula Game Lodge in Limpopo and the Cape Milner Hotel.

[ Source : CityPress ]

 

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