Recently Amitabh Bachchan gifted his one of the most iconic bungalow ‘Pratiksha’ to his Daughter Shweta Nanda.
Amitabh Bachchan is one of the rare individuals who experienced the rollercoaster of going from wealth to poverty and back to wealth again.
In the context of Bollywood, where many have faced financial struggles in their later years, relying on alternative income sources like property-based mortgages, Amitabh Bachchan’s journey stands out.
Amitabh Bachchan had a great deal of wealth up until 1993, even after the Bofors scandal dealt a blow. But the 1990s stock market meltdown struck him hard, costing him ₹30 lakhs. Thankfully, the Ambanis intervened and helped him recover by enabling him to buy Reliance shares at a reduced price. Ambanis gave Amitabh Bachchan a lifeline during the ABCL fiasco. They demonstrated the strength of their enduring friendship by helping him recover from a ₹30 lakh stock market loss by offering discounted Reliance shares.
Beyond the short-term financial loss, the Miss World contest had long-term effects. Amitabh Bachchan, who was formerly highly regarded, experienced both public humiliation and economic hardship. Former allies, the bankers, mocked him, and prospective purchasers of real estate threatened to replace his houses with apartments.
The loss was a severe low point that brought attention to the brittleness of celebrity wealth and the stark reality of financial mistakes in the erratic entertainment industry.
Following the disastrous Miss World contest, Amitabh Bachchan found himself in a precarious financial position. Even the neighbourhood gas station, which used to be friendly, stopped giving him credit for filling up his car.
In 1999, when he was looking to rent an apartment, he found that even after selling all of his properties, he still had an enormous debt load of ₹7-8 crore hanging over him. This information highlighted the severity of his financial problems, leaving him to deal with the repercussions from the unsuccessful business and the subsequent economic ramifications.
Amidst Amitabh Bachchan’s financial turbulence, two influential figures played crucial roles in his journey. Chanda Kocchar, a determined executive from ICICI Bank, provided vital support. Simultaneously, Amar Singh, a dynamic young politician, stepped in, offering financial assistance to divert him from Canara Bank after ICICI took charge of the loans.
Amar Singh’s intervention proved instrumental as he facilitated the necessary funds, preventing Amitabh Bachchan from relying on Canara Bank for a year. This strategic move provided a temporary reprieve and allowed Amitabh Bachchan to navigate the challenging financial landscape with more flexibility.
The launch of Kaun Banega Crorepati (KBC) signalled not just a turning point for the television industry but also a significant change in Amitabh Bachchan’s life. This legendary game show, which he hosted gracefully, not only signalled a comeback for his career but also served as a ray of hope during a very trying time.
KBC’s extraordinary popularity spread across the country, drawing viewers in with its unique format and charming host Amitabh Bachchan. The success of the event not only restored his reputation in the industry but also significantly eased his urgent financial difficulties.
In addition to stabilizing his financial status, KBC’s enormous popularity and financial bonanza enabled him to honour promises made during turbulent times and settle outstanding bills. Beyond its financial effects, Amitabh Bachchan’s public persona was transformed by KBC, which portrayed him as a charming and approachable host in addition to a great actor.
The success of the show was a major factor in his continued popularity, demonstrating how a single endeavour may change the course of a renowned figure’s life.
The combined efforts of Chanda Kocchar and Amar Singh, coupled with the resurgence brought about by KBC, shaped a remarkable turnaround in Amitabh Bachchan’s life.
This period not only marked a financial recovery but also showcased his resilience and ability to overcome adversity in the face of substantial challenges.
Despite paying off debts and settling with Amar Singh, the experience left a lasting impact. Amitabh Bachchan, once afraid of the financial turmoil between 1996 and 2000, decided never to use a credit card again. He opts for cash when refueling, emphasizing hard work to earn money.
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Currently according to the sources, Amitabh Bachchan’s current wealth is around more than 1100 crores.
Despite being wealthy for generations, he remains cautious, avoiding boasting or relaxation about his wealth, understanding firsthand how quickly fortunes can change.
The solid friendship with the Ambanis and Chopras is still going strong.
Unfortunately, a rift with Amar Singh, who portrayed Amitabh Bachchan as a servant.
And hence, Amitabh Bachchan continues to work hard, driven by the lessons learned during those challenging years.
