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Abhishek Bachchan, who has been an entrepreneur for many years now, recently spoke about his investments, and said that there was a time when he was signing films just to fund his sporting business. But, he said, that isn’t the case anymore. The actor said that this strategy took the joy out of creative work, and he has decided to put a stop to it. In a chat with CNBC TV18, Abhishek said that he does not believe in valuations when it comes to starting a business.
“I have been pitched several businesses. In the early days, when you were naive, you would get impressed by these numbers. And having run 2-3 successful sporting teams, you realise that projections are just that, they are just on paper,” he said. Abhishek was then asked about his Pro Kabaddi League team, and his earlier comments about using the money he makes in films to fund his business ventures.
“It is sustainable, it might not be a lot of fun. And then what happens is that you stop making creative choices, you start making financial choices. And I think in a creative field, that’s harakiri,” he said, and added, “I wanted my films to be a creative choice. Not because I had to fill the bank balance to support my, at that point of time, hobby.”
Abhishek said that he now invests through his “family office” and added, “I started up my family office, streamlined the finances, investment portfolios etc. It’s taken me about seven years, but thankfully, now we have a balance sheet and allocated funds through my family office that I can run a sporting business.” Abhishek shared that he treats his business as his passion, but he is not willing to lose money. “It is a passion for me but it is not something I am willing to lose money on and I will turn heaven and earth upside down to make sure it’s profitable,” he said.
Abhishek quit college in Boston in the 1990s because Amitabh Bachchan’s company ABCL had run into heavy losses. Big B had a debt of Rs 90 crore and Abhishek recalled this phase of their life in a chat with Ranveer Allahabadia. He said, “He had to borrow money from his staff to put food on the table. I just felt morally obliged to be with him. I called him and I said ‘You know, dad, I think I want to leave college half-way and comeback and just be with you, try and help you in whatever way.”
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