Indian billionaire Mulchandani founded SKAI Holdings in 2011, rebranding it as FIVE Holdings in 2017. The company acquired Ibiza-based Pacha Group in October 2023 for approximately $352.3 million. The group has since become 100% green, saving 538 metric tons of carbon dioxide emissions in 2024. Pacha Group also reduced its carbon emissions by 15% and water consumption by 7%. In the same year, FIVE reported total assets of $2.9 billion and revenues of $589.6 million, with the hospitality sector contributing more than 75%. Mulchandani's net worth was $2.2 billion as of July 202
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