Meet one of the richest Indians in Dubai, who spent 140 days in jail, now owns luxury hotels, resorts, throws parties on jets, his net worth is Rs.

From his tough beginnings in Mumbai to building a billion-dollar empire in Dubai, Mulchandani embodies the spirit of perseverance and achievement.

Kabir Mulchandani, a native of Mumbai, became a billionaire entrepreneur and a pioneer in luxury real estate and hospitality. With a net worth of $2 billion, Mulchandani is the founder of FIVE Holdings, a Dubai-based company known for its ultra-luxury hotels, resorts and unique party experiences. Despite significant challenges, including legal troubles and prison sentences, he built an empire synonymous with opulence and innovation.

Kabir Mulchandani Journey

Born and raised in Mumbai, Kabir Mulchandani began his career in his family’s consumer electronics business. Looking for new opportunities, he moved to Dubai in the early 2000s and began investing in real estate. However, the Dubai real estate crash of 2008 posed a significant obstacle. Mulchandani was charged with fraud and embezzlement, punishable by up to 140 days in prison. He was acquitted of all charges against him in 2010, marking a turning point in his career.

Creation of FIVE Holdings

In 2011, Mulchandani established FIVE Holdings, a luxury real estate and hospitality company headquartered in Dubai. Known for its high-end properties, FIVE Holdings has become a leading name in the Middle East, Europe and beyond. Its flagship properties, like the Five Palm Jumeirah in Dubai, have redefined luxury travel with innovative concepts like a supercar drive-in nightclub and star-studded beach parties.

In 2023, the company made headlines when it acquired the famous Pacha Group, a chain of hotels and nightclubs in Ibiza, Spain, for $330 million. With plans to list on the Dubai Stock Exchange in 2025, FIVE Holdings is on a path to rapid global expansion.

Mulchandani’s Most Daring Ventures: Jet Parties

One of Mulchandani’s boldest ventures is the Fly FIVE party jet, launching in 2023. This private jet is the first of Airbus SAS’s ACJ TwoTwenty models and is designed for an unparalleled luxury experience. The 16-passenger aircraft features a unique “burst belt” for added safety. LED lighting to create a vibrant party ambiance and a spacious bedroom with a king-size bed for ultimate comfort.

Operated by Zurich-based Comlux, the plane costs between $13,000 and $14,000 an hour to charter, excluding moving costs. For example, a round trip between London and Dubai costs around $195,000.

Mulchandani conceptualized the party jet during the COVID-19 pandemic, recognizing the growing demand for private jets. The jet has since become a hallmark of its brand, attracting wealthy travelers looking for exclusive party experiences in the skies.

Despite his initial difficulties, Kabir Mulchandani has established himself as a global icon of luxury hospitality and innovation. With properties like the Five Palm Jumeirah attracting A-list guests and the Fly FIVE party jet revolutionizing private air travel, Mulchandani’s story is one of resilience, vision and opulence.