June 26, 2022

V. G. Siddhartha Biography, Age, Death, Wife, Children, Family, Caste, Wiki & More

Updated On : August 4, 2019

Short Biography

V. G. Siddhartha was born in 1959 in Chikmagalur in the state of Karnataka, India. He was an Indian Businessperson, Entrepreneur & Founder of Cafe Coffee Day (CCD). 


Other Name: V. G. Siddhartha Hegde, Coffee King of India
Other Professions: Entrepreneur Founder

V. G. Siddhartha Complete Bio & Career

V. G. Siddhartha got his master's degree in Economics from Mangalore University. He started investing in the stock market and went on to join JM Financial Limited in 1983-84 in Mumbai as a management trainee. After working for two years with JM Financial Ltd, he returned to Bangalore where his father gave him money to start a business of his choice. Siddhartha bought a stock market card for an amount of Rs 30,000 and a company called Sivan Securities. The company's name was changed to Way2wealth Securities Ltd in the year 2000.
 
Siddhartha became a full-time investor in the stock market and also owned 10,000 acres of coffee farms by 1985. As the years went by, his wealth doubled with the liberalisation of coffee trading in the 1990s. He then floated Amalgamated Bean Coffee Trading Company Ltd (ABCTCL) in the year 1993. This company focused on coffee exports and became the second-largest exporter from India. ABCTCL is now known as Coffee Day Global. opened the first CCD store in 1996 at Bangalore's busy Brigade Road. A cup of coffee and an hour of internet surfing used to cost Rs 100 at that time.
 
The coffee king also had an interest in the hospitality sector. He launched hospitality chain Coffee Day Hotels & Resorts in 2006 which operates the Serai and Cicada resorts. In 2015, his net worth stood at $1.2 billion (Rs 8,200 crore). He found himself in the midst of a controversy when he was accused of tax evasion following which the I-T department conducted raids at over 20 locations, including his offices in Mumbai, Chennai, Bengaluru and Chikmagalur. The documents seized during raids revealed that Siddhartha had concealed income worth Rs 650 crore from the I-T department in 2017.
 
After a lot of capital burden, he started selling all his investments and then his stakes in various companies. In 2019, he finally called it a day and committed suicide citing financial problems.

V. G. Siddhartha Popular Videos

Health Issues, Illness and Death Info

He went missng from 29th July 2019. His body was found at  Hoige Bazaar beach in Mangalore on 31st July 2019. He left a suicide note and that is the cause of his death as well. His body was cremated at his family's estate Chethanahalli coffee estate in Chikkamagalur district on 31-07-2019. 

DEATHDAY 29 July,2019 (Friday)
DEATH PLACE Mangalore, Karnataka
DEATH COUNTRY India

V. G. Siddhartha Family, Relatives and Other Relations

He was born to Gangaiah and Vaasanthi G Hegde. He was married to Malavika Krishna from 1991 till his death in 2019. The couple togeter had 2 sons named Ehsaan and Amartya.

Life's Important Dates Of V. G. Siddhartha

Body Measurements

Skin Colour Wheatish
Eye Colour Black
Hair Colour Black

Personal Info

Home Town Malenadu, Chikkamagaluru
Nationality Indian
Religion Hindu
Address Bengaluru, Karnataka, India
School N/A
College St. Aloysius College, Mangluru
Qualification Masters in economics
Hobbies Travelling
Marital Status Married
Debut First CCD Store - 1996
Salary N/A
Net Worth US$3.6 billion
Official Website N/A

Collections

Car Collections BMW 7 Series and Audi Q7

Favourites

Favorite Color Brown
Favorite Player Anil Kumble
Favorite Sport Cricket
Favorite Politician S. M. Krishna
Favorite Actor Yash

Shocking / Interesting Facts & Secrets About V. G. Siddhartha

  • He intended to join the Indian Army during his college days and to pursue his dreams, he also joined NCC.
  • Through his company ABCL (Amalgamated Bean Coffee Limited), he used to export coffee all over the world and was the largest exporter of coffee in India.
  • CCD (Cafe Coffee Day) has nearly 1850 outlets including India and abroad.
  • To pay him last tribute, Karnatka's then Chief Minister B S Yeddyurappa also travelled to Chikmaglur.
  • After his untimely death, SV Ranganath was appointed as the Interim Chairman of Coffee Day Enterprises.
  • He was the son in law of veteran politician S. M. Krishna.