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23 February 2024

'The crisis won't last'


By Noyon Jyoti Parasara

From being an expressionless actor to a top name in Bollywood, restaurateur-cum-actor/producer Suniel Shetty has made – and lost – a lot of money in his time. He talked to Emirates Business about his finances and credit worthiness.

What was your first salary? When I was 15, I worked with my father, and earned around Rs400 (Dh31). I put it towards my college fees.

By what percentage has your salary increased since then? I don't want to get into my current financial status. I am doing well enough not to worry.

Do you know how much you are worth? I have no clue. But I know my worth is gold when it comes to being a son, a husband or a father.

What's your money philosophy? Worship it. Be very clear how much you want to save and how much you need to keep for taxes.

What was the first lesson your parents taught you about money? Treat it as you would your own child and you will never be unsuccessful.

What do you invest in? Real estate. Fixed deposits don't work for me. I want to make sure I organise everything for my children in such a way that if something ever goes wrong, my savings can take care of them.

Do you have investment advisers? My father advised me right. He advised me to go into whatever I want to, but it should be committed.

What's your biggest outgoing each month? That would probably be the EMI on the loan I took for my work office. I need it to balance my tax return.

What is the most expensive item you've ever bought? My little Hummer.

If you could buy a house anywhere in the world, where would it be? Somewhere outside India, it would be in Dubai, because I like it.

Do you give expensive gifts or cheap ones? I don't know. But a gift I would like to give my wife would be a BMW because it says: Be My Wife.

What do you understand about the credit crisis? This won't last forever. If we live within our means we can rectify this.



Age: 47

Sources of Income: Acting, film-producing and the fashion industry.

Claim to fame: Shetty started his career in Balwaan, and went on to star in a series of hits with Akshay Kumar. He also runs a boutique, Mischief, as well as Popkorn Entertainment, which has established events like the Global Indian Film Awards. As a producer, his recent films include EMI and Mission Istaanbul.