The Indian coffee magnate who beat Starbucks is suspected of committing suicide, and the company's share price plummeted 20%.

Professional coffee knowledge exchange more coffee bean information please follow the coffee workshop (Wechat official account cafe_style)

V.G.Siddhartha, a coffee tycoon defeated by Starbucks, is one of India's rich, but his whereabouts are suddenly unknown, raising concerns about his safety, and the police launched a large-scale search today.

The owner of the chain Cafe Coffee Day, a billionaire who claims to have defeated Starbucks in the local coffee industry in India, was last seen walking across a bridge in the southern province of Karnataka on the evening of the 29th.

When Siddhartha came back after a long time, his driver called the police to deal with it.

With the help of local fishermen, as police divers searched the Netravati River near Mangalore, dignitaries from Karnataka province gathered at the Siddhardo mansion.

Since taking over the family coffee business for more than 130 years, Siddhartha founded the chain Daily Coffee in 1996 and became the world's largest coffee trader, sitting on the largest coffee plantation in Asia, with an area of about 12,000 hectares, while his Indian mixed Coffee Bean Company (Amalgamated Bean Coffee Company) is India's largest exporter of green coffee.

There are more than 1700 daily coffee outlets, mainly in India, as well as in Malaysia, Egypt, the Czech Republic and Austria.

The other half of Siddhartha is the daughter of S.M.Krishna, a former foreign minister and governor of Karnataka, a marriage that has made him one of India's most prosperous political and business tycoons.

But Siddhartha's empire came under pressure after tax authorities inspected the Indian coffee company's branches in major cities in 2017, with several reports revealing that Siddhartha was in talks with beverage maker Coca-Cola to sell a sizeable stake.

Some media reports quoted a letter sent by Siddhartha to shareholders on the day of his disappearance as saying: "I am sorry to disappoint people who trust me. I fought for a long time, but today I gave up. Because I can no longer bear the pressure from one of the private equity partners to buy back my shares. "

END