Sep 2, 2026 · 16 min · 9 segments
In 2017, billionaire Sanjeev Gupta arrived in Whyalla promising to save the town’s struggling steelworks and hundreds of local jobs. But nearly a decade later, the steelworks is still fighting for…
Paul BarryGuestSamantha HawleyHost[upbeat music] Paul, Sanjeev Gupta, he's a British Indian billionaire living sometimes in Sydney.
... except that he owes billions of dollars, and probably no longer in Sydney in that he appears to have skipped the country and gone to the United States.
He's a steel tycoon who borrowed billions of dollars and bought steelworks all around the world.
Now, you have written a whole book about him because he has had, Paul, an enormous impact on the social fabric of the South Australian town Whyalla.
[upbeat music] Paul, Sanjeev Gupta, he's a British Indian billionaire living sometimes in Sydney.
... except that he owes billions of dollars, and probably no longer in Sydney in that he appears to have skipped the country and gone to the United States.
He's a steel tycoon who borrowed billions of dollars and bought steelworks all around the world.
Now, you have written a whole book about him because he has had, Paul, an enormous impact on the social fabric of the South Australian town Whyalla.
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3 of 9
The Billionaire Who Owed Billions
Gupta's wealth survived a global steel collapse
Promises Without The Money
One billionaire promised billions without having money
The Rescue Finally Collapsed
The promised rescue ended with government intervention
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