- One of India’s most acclaimed movie stars jumped into politics in early 2018, a year before India’s parliamentary elections.
- Over the past year or so, he’s been a regular on the Tamil version of the hit Big Boss franchise and has started working on what sequel to Indian 2 is in production.
- However, its annual income is down 20% and the annual after-tax profit is down 25% in 2019 compared to a year earlier.
One of India’s most prominent figures, Kamal Haasan, recently borrowed ₹ 25 crore (around $ 350 million) from a bank. In the process, a lot has been revealed about his finances as his political enterprise is expected to be two years old soon.
Kamal Haasan is one of the most acclaimed Indian stars in the film world with three national awards, films in five different languages and a 59-year career still awaiting the latest film.
However, the prolific actor, writer and director – whose
Aalanvandhan
inspired the Manga scene in Quentin Tarantino’s classic Kill Bill – is only two years old as a politician.
Haasan plunged into politics in early 2018, a year before India’s parliamentary elections. Even as he prepped his new political outfit, Makkal Needhi Maiam, for the big fight in 2019, Haasan remained a regular on the Tamil version of the hit Big Boss TV franchise –
one of the most watched shows on Hotstar Last year. It allowed the money to flow and put it in people’s living rooms every week before the election.
However, the party did not win a single seat in Tamil Nadu, but Haasan and his comrades continue to persevere in the run-up to the upcoming State Assembly elections in 2021. Meanwhile, Haasan has also started to work on the 1996 blockbuster sequel
Indian and the film is currently in production.
So to speak, as he preached that the people
shouldn’t sell their votes for money, its annual income fell 20% to ₹ 20 crore in 2019 and the annual after-tax profit fell 25% to ₹ 9 crore in 2019, compared to a year earlier,
rating report posted by Crisil.
Publicity
While noting a new ₹ 25 crore (approximately $ 350 million) bank loan that will be payable in September 2024, the rating agency described Haasan as “a sole proprietorship with interests in directing, theater and production. mainly involved in the Tamil film industry “. As a business owner, it is not separate from the owner by definition.
So what does the future look like for Haasan?
The cash build-up is expected to range from ₹ 7 crore to ₹ 8 crore over the medium term (usually means more than a year), according to Crisil. However, more than half of this amount will be needed to repay the debt before March 2020.
In November 2019,
Haasan’s net worth was estimated to $ 100 million (₹ 700 crore). But according to Crisil’s latest report, his debt is 1.64 times his net worth. Forbes, while ranking him at 56 on India’s richest celebrity list, estimated his earnings for 2019 at ₹ 34 crore.
According to this metric, Haasan’s net worth will be around ₹ 15 crore, assuming there are no loans other than the one mentioned in the report. Attempts to contact Crisil for clarification of the disparity have failed. The story will be updated with Crisil’s response, if applicable.
The good news is that he earns 12 times more money each year than is needed to cover interest. On the other hand, “the volatility of profitability and revenues, inherent in the film industry, will continue to impact the firm, since revenues are based on films in progress and other programs,” according to Crisil.
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