Mayur Shree of Dallas just bought a $3 million car. But it took more than wealth to land Texas’ first Bugatti Chiron, one of the world’s most expensive production vehicles.
It was almost like adopting a child.
The 32-year-old real estate investor networked with Bugatti executives and board members of parent company Volkswagen. He agreed to buy another seven-figure Bugatti and shared his father’s inspirational tale of rising from teenage meat market worker to owning a warehouse empire in South Africa.
Shree even had to provide the French automaker with his exotic car resume, a vetting process designed to keep Chirons in the garages of connoisseurs rather than investors. After placing his $250,000 deposit, Shree waited for two years for the car to arrive, just so he could give it to his father.
“I always said when I start making money and pay back the money he loaned me for my business, I’d buy him a car and encourage him to move to the states,” Shree said.
Shree and his father finally took the silver and black Chiron with red accents for a leisurely drive around Dallas Thursday.
There were hoots, waves, thumbs ups and admiring looks, Shree said. Predictably, there were no opportunities to stretch out a car that can reach 261 mph, or more than triple Texas’ highest speed limit.
“Most of the time, traffic gets annoyed and passes me,” he said, laughing.
The car still makes a statement even if it’s just creeping along on the Dallas North Tollway. It’s among a small group labelled megacars; their horsepowers and price tags best those of the coveted supercars and hypercars.
The French carmaker is planning to make 500 of the Chirons, named for Louis Chiron, a championship Bugatti driver of the 1930s.
Simon Crossley, brand manager for Park Place Bugatti in Dallas said there are only less than 20 Chirons in North America. Shree and his new car were feted by Park Place Bugatti on Friday, even parties are usually thrown for the delivery a single car.
Even with 1,500 horsepower — about double that of an IndyCar racer — Shree had no desire to see if he could match the Chiron’s established time of 0-62 in 2.4 seconds.
“My dad has always taught us that a car is an equivalent to a loaded weapon,” Shree said. “You have to respect it. You have to respect traffic around you. You have to respect the road.”
A cautious driver, he said he isn’t worried about his actions on the road. But he does remember an incident in South Africa when another driver was trying to take a picture of his car and swerve into the oncoming lane.
Vehicle owner Mayur Shree arrives before an event put on by Park Place commemorating the first delivery of a Bugatti Chiron to Texas at the Residences at The Stonleigh in Dallas Friday January 12, 2018. The Chiron was gifted by Shree’s father. The car is capable of traveling over 260 miles per hour and has ten radiators, quad turbos and is valued at $3.2 million.
Before moving to the U.S., Shree drove eye-catching cars such as the Lamborghini Murciélago.
“My mom says all we do is work for cars,” Shree said.
He said he, his brother and his father are all “petrolheads,” the kind who excitedly follow the British television series Top Gear and its coverage of exotic, record-setting speedsters. In Shree’s case, his family could do more than just watch.
The family business, Shree Property Holdings, owns millions of square feet of warehouse space near the coastal city of Durban. The company website says it had the southern hemisphere’s largest fruit-export facility.
Shree said all citrus exported from South Africa goes through his family’s cold storage warehouse.
He said his father wanted a Bugatti Veyron after seeing footage of the car that once set a speed record of nearly 268 mph. But seven-figure cars like the Bugatti were out of reach.
Vehicles in South Africa have steering wheels on the right side. In early 2000s, the that country’s government banned imports of left-hand drive cars, such as the Bugattis. Also, the country had a 100 percent import tax that made these vehicles doubly expensive.
Shree said the car arrived at an auspicious time.
His immediate family is following his lead and now moving to Dallas; a group of four houses are under construction in Preston Hollow and expected to be finished by the summer. The move isn’t full-time for his parents for tax reasons. Shree said that if they moved to the U.S., they would have to pay taxes here and in South Africa.
Initially, he put money into the Alexan Trinity apartments — now Oaks Trinity — in North Oak Cliff. Currently, he’s invested in the Alta Strand apartment in the Design District.
Nationally, the visa program has been controversial with critics saying there’s not enough scrutiny of the deals and benefits. The Securities and Exchange Commission is investigating the use of these vias by the family business of Jared Kushner, President Donald Trump’s son-in-law.
Although Shree arrived in Dallas in 2012, his path was paved 20 years ago when his aunt immigrated.
Since the fruit export business was seasonal, Shree said his family often visited the U.S. for a couple of months in the offseason. They would see Disneyland and other tourist attractions, driving nearly the length of the East Coast (Buffalo, N.Y. to Key West, Fla.) and inevitably spend time in Dallas.
The city always felt comfortable, welcoming and like a good place to raise family. Even after a few years, Dallas feels like home.
Shree, who grew up around cricket and rugby, has even become a convert to U.S. football. He’s enough of a Dallas Cowboys fan to buy a Rolls-Royce in Cowboys colors but still enough of a novice to accidentally call a game a match.
He has a girlfriend he’s been dating for more than a year and will soon be surrounded by his family.
Shree’s immigrant story is vastly different than the ones of his ancestors, who arrived in South Africa in 1860 as indentured servants from India. His grandfather started his career as a factory worker. His father took over the family butcher shop while still a young teenager.
“Your forefathers, they just jumped to the ship. They never knew where they were going,” Shree remember his father saying. “You guys are fortunate….As much as it’s a sacrifice, you’ll be doing a great service to future generation.”