Mulchandani founded FIVE Holdings as SKAI Holdings in 2013 and rebranded it to FIVE in 2017. FIVE Holding’s portfolio includes the Pacha Group, and hospitality destinations and entertainment like FIVE Palm Jumeirah, FIVE Jumeirah Village, FIVE LUXE in the U.A.E., along with FIVE Zurich in Switzerland, Destino Five Ibiza, and Pacha Hotel in Spain. The company had $2.9 billion in assets and reported a 28% increase in revenues in 2024 reaching a total of $589.6 million. Its real estate development revenue was $142.9 million for the year. Mulchandani’s net worth stood at $2.2 billion as of March 2025.