DOCUMENTING ONE MAN'S JOURNEY TO BECOMING A PROPERTY MILLIONAIRE

Jun
05
2007

The $1 billion house

Category: Architecture/Design

Yeah, you read correctly, the $1 billion house, that’s not Rupee or Yen. MSN released news today that India’s richest man, Mukesh Ambani, is in the process of building a new home in Mumbai that currently has an estimated value of $1 billion.

Forbes estimated Ambani’s net worth at $43 billion in March, making him the 5th richest person in the world. Reliance Industries was founded by Mukesh’s father, Dhirubhai Ambani, in 1966, and is India’s most valuable firm by market capitalization.

£70 million is what currently The Most Expensive House In The World was purchased for. There’s no doubt that this property will completely smash that record when or if it ever gets sold in the future. The home will cost more than a hotel or high-rise of similar size because of its custom measurements and fittings. How swanky, aye?

I recently said, you have to be an idiot to spend £70 million on a house, but I was just being facetious. But I actually mean it when I say that you have to be the ultimate idiot to spend $1 billion on a property for, and I quote, “Ambani plans to occasionally use the residence for corporate entertainment”. I don’t think there’s any justification for spending that much on a house, besides from being an extreme egotist. Even Bill Gates doesn’t have a home worth a fraction of that; $125 million for his home. The only remotely comparable high-rise property currently on the market is the $70 million triplex penthouse at the Pierre Hotel in New York.

$1 Billion HomeI just can’t imagine what you could possibly spend on a house that would make its value $1 billion. One thing is for sure, I’m sure it’s filled with complete unnecessary bullshit like gold toilet paper holders. Ambani’s architect has said the first floors of the skyscraper mansion will be reserved for parking. Immediately above will be lodgings for servants and their families. Eight floors have been reserved for “entertainment,” including a mini-theatre and a number of swimming pools, and several more floors will house a health club and rooms for guests.

Mukesh Ambani’s Reliance Group is India’s largest private company, with interests in oil, retail and biotechnology. The 50-year-old became the country’s first rupee trillionaire this week. Him and his family currently live in a 14-storey building, while they await to move into their home, which should be ready by next year. Yeah, apparently 14-stories just isn’t enough space for him, his wife, his mother, and his 3 children.

The new $1 billion building, named Antilla after a mythical island, will have a total floor area greater than Versaille: 60-storey palace with helipad, health club and six floors of car parking (who the fuck needs six floors for parking?). Draped in hanging gardens, the building will have a floor for a home theatre, a glass-fronted apartment for guests, and a two-storey health club. As the ceilings are three times as high as a normal building’s, the 173-metre tower will have only 27 floors. Apparently Mukesh and his family see it necessary to have 600 members of full-staff to move into the new home, too. What the fuck would you need 600 members of staff for? I imagine he has people on standby to scrape the toe-jam out from under his royal toes. 1 man for each toe. 600 members of staff in a residential home, unbelievable. Of course, providing 600 jobs is NEVER a bad thing.

This guy has serious problems in my opinion, he could single-handedly fix up living conditions for millions of people in India but instead he builds a playhouse that he’ll never really need, in the middle of a poor country which is populated by 1.1 billion people that live in abysmal poverty, with tens of millions regularly receiving insufficient nourishment. I wonder how many of those precious square feet will actually be touched by his feet.

He’s a wealthy guy, and I’m sure he worked hard to get to where he is, so good for him. Further more, I’m sure his empire has created thousands of jobs for people, which is all very cool. But even if someone has more money than they know what to do with, I don’t think building a $1 billion house is justifiable. Fuck, build a thousand schools for disabled children or something, you crazy, crazy man!!

All financial talk aside, I’m not gonna’ lie, homie, that’s one swish looking crib. Impressive.

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lillycat wrote, on Aug 14th, 2007

woah. this makes me sick becuase india is in trouble with poverty and social problems beyond anything. that’s why alot of indians are moving to the usa and elsewhere to escape the horrors of this country. india is demeaning to women too. one I talked to was alwys apologizing to her husband for everything and she cried all the time and her poor baby was messed up with no attention given by the father she would constantly ask me for help but I was broke and just moved in so I tried to help but her husband beat her. i felt sorry for her. she told me india is dying. it is. all becuase people like this rich wipe are destroying our planet and people by making the $ divinde even bigger and inducing alot of problems into our world, if they would give 10 percent, just 10 percent, they would end alot of problems.

1
fred wrote, on Aug 16th, 2007

it also makes me sick to see that, that man is going to spend all that amout on just building ahouse yet there other people who’re suffering from several diseases, they don’t have enough drugs,hunger and many more, mostly in Africa and even his own c’try.

2
Christophe Meert wrote, on Aug 20th, 2007

I don’t see the problem: if this guy builds a billion dollar home, it simply means this money will be distributed to the people again. Would you prefer he lived in a little shed and kept the billion dollars in his pocket ?

Your house could save people. The money you spend on your car could save people. Every dollar you spend could save people. If his house makes you sick, go live in a wooden box and give all you earn to the poor instead of pointing a finger.

This guy distributes a billion dollar and will give 600 persons a job. Great !!! Every billionaire should build such a house !

3
The Property Amateur wrote, on Aug 20th, 2007

The amount he earns could save a country. That’s the difference.

Moreover, I just think it’s bad taste to build something like that in the middle of poverty.

I agree though, creating 600 jobs is never a bad thing.

4
emma wrote, on Aug 23rd, 2007

i think if he has the money he is entitled to a huge mansion but god there is a limit!!! i think he could have saved so many lives if he’d just brought what he needed and gave alot to charity…i mean its obvious that they’re probably only gonna live on like the first three or four stories then the rest will just gather dust. HE DESERVES A GOOD SLAP!!! he is so inconsiderate… and whats he gonna do if the top floor catches fire and the rest of the house just caves underneath…he’ll be pretty screwed if you ask me!!!
from emma dowling age 13

5
Jake wrote, on Aug 24th, 2007

“social problems beyond anything. that’s why alot of indians are moving to the usa and elsewhere to escape the horrors of this country. india is demeaning to women too. one I talked to was alwys apologizing to her husband for everything and she cried all the time and her poor baby was messed up with no attention given by the father she would constantly ask me for help but I was broke and just moved in so I tried to help but her husband beat her.”

-You know one Indian. There are a billion genius.

6
mavel wrote, on Aug 27th, 2007

i think the problem with this guy is that he dont know why God released such aboundant of money to him i wont say he is the most had working guy he deserve to be wealth but the truth is that he have the favour of God upon his life, i pray let God deliver him and direct him how to use his money to the glory of God.

7
aaron wrote, on Aug 31st, 2007

OMG….all i can say is my dad works hard for his money and yea we do have alot of money and live in a 14 million dollar house but we also give alot to..we take in kids and adults from uganda and let them stay at our house..we also feed them and do everything else..people who have money should get nice things but never a 1billion dollar house…our house is actaully very big for 14 million dollars..and i would also like to say that my dad makes his money with three other people and they actually have to work they dont have thousands or even millons of workers..so in a way he really does work therefore doesnt deserve that 1 billion dollar house.so if he ever sees this, which he wont, he just really needs to think of everyone else not just himself..
and im not stuck up the only reason we got this house is because we knew we wanted to take in kids, which we have about 100 kids staying woth us at a time and then we let them go back to there lives, but first we build them this house..so for the people who think im rich stuck up IM NOT..IM CURRENTLY SHARING A ROOM WITH 3 KIDS FROM UGANDA..

8
aaron wrote, on Aug 31st, 2007

srry i made a couple of mistakes there..when i said in a way he really does work therefore….and so on i meant doesnt.and when i said woth i meant with..k…thats all. bye and have a good day

9
comi wrote, on Sep 2nd, 2007

To the guy who says that is good that he gives jobs to 600 people.. first off all that guy had to rip off 500.000 people of there money to make the payment on his house.

10
Lucynda Riley wrote, on Sep 4th, 2007

Well, it is his money and he can do what ever he wants with it. it seems a little crazy to want that much of a house though. And who really needs 600 servants. I imagine most of them are going to be paid to sit on there buts most of the time.

Just because he has a lot of money doesn’t mean he came by it dishonestly. For all we know he could be donating a lot of money to the poor, its just not being talked about in this article.

11
Brandi wrote, on Sep 12th, 2007

WOw he could like solve world huger with that much money thats too much money for one person to have i think he should divide it and share it.

12
Daemon wrote, on Sep 19th, 2007

THIS HOUSE SEEMS VERY UNNECESSARY…

13
Samir wrote, on Sep 21st, 2007

The rich get rich because they know when to buy.
He bought the land for Rs 21 crores (5 million USD in 2007 money, using 2003 rate about 4.6 million)
So i doubt it would cost a billion in construction costs. Property rates in Bombay have gone up substantially. Almost tripled or more in some areas, but construction cost havent gone up that much.

http://www.mumbaimirror.com/net/mmpaper.aspx?page=article&sectid=15&contentid=2007070402230678177c1294e&pageno=1

14
Jess. wrote, on Oct 15th, 2007

WOOOOOAH.

(:

15
tjns wrote, on Oct 25th, 2007

we should tell this guy to give some money to the starving people instead of wasting it on a (what i call) crappy house. he is no more fricken important than anyone else in this world!!!!!!!

16
Chirag wrote, on Oct 28th, 2007

I just realised how bloody jealous the west gets when the east one ups their asses.
Mukesh Ambani and Relaince is a major factor why India’s turning into the Economic Powerhouse it is…
All the west see in India is poverty…
Goddamned dimwitted schmucks!

17
Nakul wrote, on Nov 2nd, 2007

such are the aspirations of the ‘new’ rich guys.they r irreponsible towards society.
can never see Tatas or any established businessmen do something like this.these newly emerged trillionaires lack class n subtelty.

18
Nakul wrote, on Nov 2nd, 2007

All bass no class.

19
Taya wrote, on Nov 2nd, 2007

A billion $ house, r u kidding me. Donate the money to cancer research and HIV/AIDS treatment, especially in Malawi.Thats more than showin off

20
Udit wrote, on Nov 2nd, 2007

It’s his money and he got it after 25 years of hard work, was kicked off from Stanford for taking interest in father’s business, had to work for 18 hours a day when he was young and millionaire’s son, still working hard at the age of 50 and he deserves all his money he has. Who says he doesn’t help poor people. His company gives 90000 jobs. A country’s biggest company having maximum share holders.

Yes $ 1 BN is too much, but think of other hollywood starts, who waste millions for wines, night clubs, fighting their cases in court for their bad deeds like driving. Its better to have a billion dollar house and keep mom, wife and children happy.

21
Nick Murden wrote, on Nov 5th, 2007

lol, 1 billion. It’s a smart move, if it costs 500 million to build. There will be some moron who will buy it…then he can build another two…and create a street.

22
cline wrote, on Nov 6th, 2007

wow, that’ll be pretty amazing when its done, and in one year too? Why are people so negative about this? Its going to be a great achievement in real estate. Whether he’s a bad person or not has nothing to do with the fact that he’s going to build something really cool.

23
akaash wrote, on Nov 8th, 2007

in response to the post about how it’s super beneficial to build the house because of the jobs you create and people you employ for the building, this is a pretty absurd justification of the foul excess of an even more foul man. If he instead donated it for instance to roadway and infrastructure development, or education, not only would this employ people in the setting up and building of the schools and roads etc.. but the end product would also be useful to other human beings. Capitalism run a muck is exactly why india isn’t liberalizing as quickly as the west would like. In addition however this to me seems to be one of the largest flaws in indian society, that those of higher caste in general feel that it’s their god given right to have what they have in a lot of cases. I am very proud to be Indian because there are so many marvelous eccentricities, and so much history. It is people like this however that make me ashamed of certain aspects of being Indian. This is one of the most blatantly revolting displays of excess and disregard for the human condition that I have ever seen.

24
John wrote, on Nov 18th, 2007

After reading all this, let me put in my two cents. He certainly did work hard to get what he has. Who is to say that he doesn’t donate to the needy while also enjoying some of his own wealth for himself? Spending money is good for the economy, so the wealth is being spread in a trickle-down effect. The problem I have with all this is that if a rich man in a developed country builds a huge house that costs a lot to build no one complains about that. No one asks why he isn’t spending that money on the poor in his country or in others. He deserves his wealth as much as anyone in the developed world and has the same right to spend it as he deems fit. So if you’re going to be angry at him for spending his wealth, then you should also get mad at the likes of Larry Ellison, Donald Trump, Carlos Slim, and Lakshmi Mittal, who bought a house in London for a record-setting $128 million.

25
Devraj Kapoor wrote, on Nov 18th, 2007

He deserves it. He made money, he improved himself. He’s the richest person in the world. It’s not only a $1 billion house, it’s competition among the billionaires. He’s also donating probably 2-5% of his income which is going to poor people. We should be proud of him because he worked hard to increase his assets fifty times what his father gave him and created millions of jobs for poor Indians. It shows us that with hard work you can achieve anything.

26
Soham Shah wrote, on Nov 20th, 2007

You guys think Inida is very poor and stuff but the fact is it is the 2nd fastest growing economy in the world and milions do not starve in India or live in slums, most people are pretty well off and almost every village has electricity and education now. And Mukesh Ambani also gives a lot to charity, its not like he does not have a heart and does not give money in charity at all. It is all about what your outlook on life is like, i wish i can reach that level in my life when i can build such a home.

27
Jayakumar wrote, on Nov 20th, 2007

Most of the billion dollars will go to an US based construction company which will pay poor indian laborers a pittance to get the building constructed. Goodbye 1 billion dollars!! Probably he should build it in Euros. Might be cheaper.

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29
Ajay Haque wrote, on Nov 29th, 2007

I think it’s up 2 him what he does with his money if you were the richest man in the world you could do something and people will still comment that you are not spending it in a proper way. In london we have homes for £100 Mill no big deal

30
robert wrote, on Dec 8th, 2007

I think the guy should build a 2 billion house! why be angry at the man because hes able to do what everybody in the world would love to do (buy or build anything) their hearts desires, thats Gods will for us any ways! and whos to say the guy doesnt give money to people who need it?? just because hes building a billion dollar house you people think that more should be required of him. i understand that in the Bible it says “who much is givin, much is required”luke 12:48. but damn i bet half of you dont even give your freakin spare change to the homeless!!!! Dont judge him because he has money and u dont “approve” of what hes doing with it! im sure he doesnt give a flying F*** what you think and im sure he’s not seeking anybodys approval!
when all you low-class (i say low-class because you cant appreciate somebody else being more blessed than you) people build your dream homes 400-700 thousand dollar homes i hope that somebody is there to criticize and judge you because they think your not doing enough for others and then we will see how u like it. then mabey u’d think twice about judging somebody you dont even know! thats all i wanted to say, kinda long… but stupid people need to think about what they say and their meaning behind their words befor they start talking!

31
ghjdfgjh wrote, on Dec 11th, 2007

you cant buy a 1 billion dollar house

32
The Property Amateur wrote, on Dec 11th, 2007

Yes, we know.
You can “build” one, though.

33
hazza wrote, on Dec 12th, 2007

i believe that nobody needs a house that size. he’s obviously just making up for lacking elsewhere(you get me)!

34
lilly wrote, on Dec 12th, 2007

nice house too expensive

35
meriam wrote, on Dec 19th, 2007

This guy has a serious problem! He needs a psychiatric to tone down his ego a little bit.
India is one of the poor Countries in the world with starvation and malnutrition rampant in the whole country. With his billion $s he could have built clinics, hospitals and schools not only for the wellbeing and for the education, but to create jobs as well.

36
kyle wrote, on Jan 3rd, 2008

easy guys he might have or might donate a good sum of his fortune to the less fortunate. Don’t jump the guy just because he has money

37
peter pan wrote, on Jan 4th, 2008

he should be run over by a $5.00 cow.

38
akash wrote, on Jan 5th, 2008

beinjot, this house sounds like crazy idea. It looks more like a commercial building why would anyone want such a huge home to live in.

Even if he already donates billions to charity its a total waste on money.

Anyway i wish him luck on this useless loss making project.

39
Ian London wrote, on Jan 11th, 2008

I agree, although am just a tad jealous! Great that so many will get jobs from this…

40
Taylor wrote, on Jan 15th, 2008

I hate all those people that say ” awww. the poor homeless people!” First, they should get a job if they are poor and/or in poverty. quit mooching off of the government… Why do we feel sorry for these non-working people. Disabled people get plenty of money so don’t argue for them. There are plenty of jobs in freaking India…GET ONE. C0ngrats to the dude who built this house. He deserves it for working so hard to get the money to pay for it. BTW, you people that are arguing that he should divide the money,

41
Conor Maguire wrote, on Jan 26th, 2008

What does all of this excess do for himself anyway? We will all die eventually.

“All my possessions,
for one moment of time”.

Queen Victoria’s
last words.

42
P J Esquire wrote, on Feb 21st, 2008

You guys need to get over it. Do you not realise that people like this run the world for you. With out the extreme wealth we would all be pennyless.

43
vic wrote, on Feb 22nd, 2008

i completely agree that its a stupid thought but i dont appreciate what u say about india just to let you know india is the fastest growing country in the world and was the richest most country in the world before you white people came and took all the money and claimed to be wealthy people on india’s money. indian people are the best and whereever they go they builup themselves really well not like you white who just live for bread and butter for their whole life.

44
Get a Brain wrote, on Feb 25th, 2008

The guy can have his house, I don’t have a problem with it! I do think if he is rich enough to build a billion dollar house he needs to like a previous poster said build some hospitals/clinics/schools!

He could do so much more for a 3rd world country like India!

45
NewTonG wrote, on Mar 5th, 2008

Totally agree with, plus is my money Who are you to say what can do with my money ??

46
manny wrote, on Mar 9th, 2008

not his problem, thats the governments problem

47
AngelDemon wrote, on Apr 5th, 2008

Yes, I agree that India was a good-growing country and was one of the richest in the past, and I know because you are Indian you feel bitter at all anyone says that’s bad about India. But I also have to say that nowadays India has been steadily melting, no offence, vic. That Indian who had the $1 Billion house built should have used all that money for greater needs, like everyone else said/says. Not that I wish to offend Mukesh Ambani, but he really should start thinking about things that SHOULD be done instead of things that he WANTS to have been done.
That’s all I can say, hope you took no offence.

48
AngelDemon wrote, on Apr 5th, 2008

Yes, I can see a huge amount of truth in what you say, Christophe Meert.
Most people who are commenting on this article are saying bad things about Mukesh Ambani, but truthfully those people (the commentors) don’t distribute money to the poor like they’re all saying Mukesh should, that is just hypocriticsm.
Probably, the fact that Mukesh set up a 600 people staff job for his house is probably more than any of the bad-lipped commentors who are saying that he should give to charity.

49
andrei wrote, on Apr 17th, 2008

1 billion $ house is just too much.what’s wrong with a 100 mil $ if he has that much money.the rest to 1 billion he can give it to charity in india cause they really need it.i guess the rice is not enough

50
Dinesh wrote, on May 3rd, 2008

A rich man in a rich country can be excessive, and a rich man in a poor country cant? What logic is that. Is helping humanity not a global phenomenon. Ambani has 90K jobs in India, his companies shares have NEVER let anyone down. Even poor people have invested blindly and he has delivered. A Billion only represents 1/50 of his entire net worth. A Billion that is being SPENT and will circle back in the economy.

51
Most Expensive House In The World wrote, on May 7th, 2008

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52

[…] Most Expensive 2008: http://www.propertyinvestmentproject.co.uk/blog/2007/06/05/the-1-billion-house/ Have a great weekend & I’ll talk to you Sunday morning from […]

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