Bankrupt

Today I read a sad piece of news in TOI, about Boy George, the famous Singer of the 80’s, rumoured to be gay, is bankrupt and selling Tshirts in a store to survive.This  is sthe same guy  with whom Asha Bhonsle cut an album and was very excited about it.

I always wonder how come the rich become bankrupt.Not all, but quite a few.Here are some that come to mind, correct me if I am wrong.

1)      Bjorn Borg – 5 times consectitive  winner of Wimbledon till John Mcnroe dethroned him.He retired at 26, thinking he had earned enough.Even then , in 1980 or 81, I was around that age, I wondered here I am starting to work and this guy is retiring, so what if he lost the match.That is not the end of things.

And he opened his own clothing line, where he lost money, and his wife I think died of cancer , and last year it was in the papers that he wanted to sell his trophies and racquets to raise money to run the kitchen.

2)      Rajesh Khanna – The highest earner in the 70’s, the Super Star, from whom the sun would never set.He was the only guy I have seen over whom men and women swooned over.The guys in my college used to wear his Kurtas, and part their hair like him.

I read that his bunglow was to be auctioned by the IT people.The once famous “Aashirwad” where there was fun and laughter, where everyone in the filmline used to come and bow their heads, had just a bulb burning at night.Somebody bailed him out.What could the IT dues be, just a few crores, nothing for this man.Too many parties, and chamchas surrounding him, and all gone in these things.

3)      Mike Tyson – Earned more than $ 400 million during his hey days ( 1600 crores).cut half the income tax, still 800 crores is a lot of money.Spent on shopping, buying his buddies the latest cars that he would buy for himself.A rape case, alimonies, and ajail sentence.Today says he has not even $ 5000 in the bank.

Now in a Las Vegas Casino, he goes every night, and people just come to see him, and he charges some money for a mock fight with the patrons for a small fee.Hes become an attraction .His friends are nowhere to be seen.

4)      Micheal Jackson – Also earned hundreds of  millions of dollors.Beat it was one of his best selling albums those days.His Nevrada Ranch they say is like a mini Disney World.

Love for children, and excessive shopping, did him in.I saw a video a few years back where they showed him going to a store, who close it for other shoppers, and he bought within an hour about 6 million dollors worth of stuff ( 24 crores).

And now his Nevrada ranch is going to be auctioned by the IT, for non payment of taxes.He is bankrupt.

Cut to the present

To those for who I forsee bad times,God forbid I be proved wrong, as I have no axe to grind with anyone.

I read about Jackie Shroff’s love for the cars.I heard he has a dozen imported cars.Well he couldn’t pay some installments, and the finance companies took away a few of the,.It was in the papers, and Jackie said this is all bullshit, and just a cheque bounced or something and he has paid back and nothing is the matter.

For a Guy like me, a car is like a white elephant.The insurance charges for a 25 lakh car is like 3% of the value every year, that’s say 75,000, and if u have  10 cars, u will have topay 7.50 lakhs a year as insurance a year.The driver wont come like 3000 like they do for my Van.The guy will take 10,000 or more maybe,and multiply that for 10 cars, that’s another 12 lakhs a year.Someday business does goes bad, and  u are landed with Duds, and heavy recurring expenses.

Sharukh Khan – He bought the bunglow with the help of Bharat Shah, today whom he does not acknowledge at all.The bunglow cost a lot of money, which Bharat Shaha loaned to SRK.Today well the bunglow must be worth a fortune with the real estate prices.

But look at his gamble with the IPL.Papers say he has spent 399 crores on the team.and a commitment for 3 years, so I don’t know what the final figure will be.And it seems he is wanting to get rid of it, and is after Air Tel Boss Sunil Mittal to buy it out from him.

And just today afternoon I saw on TV, that he has made an ass of himself , and he has been prohibited from going to the dug out with the players.

Maybe SRK has stretched himself too thin.Seems he wanted to come out with an IPO for this , and take the money from it and pay the BCCI.But the bad stock markets have stopped him from coming out with the IPO.

He already closed down a few firms,as admitted by him.Cricket is not in his league.When u are making so much money from the movies why go for unchartered waters.

We have a saying “ Spread yr legs as much as the bedsheet u have” But SRK wants to be everywhere.Looks like a fool dancing and kissing in the air with the crowds.

To the Ambani’s, a few hundred crores down the drain wont make a difference as also to Malaya, who will cover it by increasing his price of Royal Challenge 25 bucks and make it up.But what will SRK do.

Amitabh got bankrupt too, trying to be a corporate,till KBC rescued him.

When u guys have enough to last u 700 generations, why risk all that for a silly adventure, not up your alley.

But then again, who am I to advise the high and the mighty.Mere Baap ka kya Jata Hai.

KAMAL MAHTANI