Meet man, who had 2 Islands, 71-room palace, $4 Billion net worth, but lost everything due to…, he is…
GH News May 08, 2025 04:06 PM

Chinnakannan Sivasankaran was once the owner of two private islands along with a 71-room mansion in Chennai. Despite losing his $4 billion net worth Siva now calls himself ‘broke not poor’. After losing so much he remains hopeful about the future.
Siva’ was was born into a simple household. In the 1980s he started his business named Sterling Computers Limited (STC). It became a leading name in India’s IT sector by the 1990s. However he received recognition in the corporate world after forming Aircel in 1999. It became a big player in the mobile services industry.
The company grew quickly and gained millions of subscribers. In 2006 Siva sold a 74% stake in Aircel to Malaysia-based Maxis Communications. However this move would later engage him in corruption scandals.
2G Spectrum Scandal
The Maxis-Aircel deal was linked to the infamous 2G spectrum scandal. Siva was also drawn into legal battles. In 2018 Aircel filed for bankruptcy and Siva claimed personal losses of Rs 7000 crore.
His $4 billion empire collapsed and also impacted many of his businesses. While talking about his downfall Siva said “I had everything – wealth properties recognition – and then I watched it all vanish.”
Speaking on The Ranveer Show he shared how a book by Donald Trump inspired him to face his financial challenges. On the same day he decided to declare bankruptcy.