Dhirubhai Ambani


wealthymaters.comThere is no official biography of Dhirubhai Ambani.In its absence a book like ‘ The Polyester Prince ” has to suffice.That Hamish McDonald was not close to Dhirubhai Ambani is a fact.That is why I kept this article – for the contrast.Here Mukesh Ambani speaks about his father to Pritish Nandy.Enjoy this read!

What were your father’s childhood years like? Does he ever speak to you about them?

Very frequently, in fact. Stories about his childhood have always inspired us, taught us how to cope with life’s vicissitudes.

Papa was always very responsible and enterprising. When he was in school, he went to the foot of Mount Girnar — the famous mountain in Saurashtra, where he grew up in a small town called Chorwad in Junagadh — and opened his own shop. To sell bhajias to pilgrims over the weekend. This is how he earned his own money though his needs were few. Until he left for Aden, he wore only half pants!

Why did he go to Aden? Yemen is not exactly an El Dorado.

He was fond of adventure. I guess Aden provided him an opportunity to experience it. To escape his own background, to see the world. He actually went with a recommendation for a job, like people go to Dubai these days. He had just completed school. SSC at that time. Even that on his second attempt! It was like MABF. Matric Appeared But Failed.

Luckily for him, he had admirers at that young age. One of them liked his spirit of enterprise so much that he sent him off to Aden for a job with an Indian trading company. A pedhi. A pedhi was like a proprietary firm. He started there and then moved on to a job with Shell.

What kind of job?

It began at the petrol pump. Then he went on to logistics. Loading all the ships and airplanes, making sure that the entire fuel logistics for Shell worked in perfect synchronicity. Read more of this post

The Polyester Prince


wealthymatters.com‘The Polyester Prince ‘ by Hamish McDonald is an unofficial biography of Shri Dhirubhai Ambani.I personally enjoyed the book and gained from reading it.There is much in the book to inspire people starting out on their personal entrepreneurial journeys.

Dhirubhai was not born to privilege.He didn’t have much of a formal education.It was sheer enterprise , hard work , measured risk taking , a fighting – spirit , good people skills , networking , thinking out of the box , seizing opportunities and great execution skills that helped him make his fortune.This book details many of the incidents of his life.It can be mined for information on how to grow one’s business and deal with the day to day problems faced in building a business from scratch.

Dhirubhai held the opinion that there could literally be thousands like him.This book is a great gift to give an friend who could potentially be one of those few thousand.Dhirubhai’s life-story is the encouragement and in this book is the information needed to get started as an entrepreneur.

A German Perspective on Philanthropy


I came across this article by chance while looking for information on Chinese billionaires.It is from Der Spiegel.I was struck by the point made by Peter Kramer.Thought I’d put up the article here.What do you think about this point of view?Do write me your comments.I would love to hear them.

08/10/2010

 

Negative Reaction to Charity Campaign

German Millionaires Criticize Gates’ ‘Giving Pledge’

Germany’s super-rich have rejected an invitation by Bill Gates and Warren Buffett to join their ‘Giving Pledge’ to give away most of their fortune. The pledge has been criticized in Germany, with millionaires saying donations shouldn’t replace duties that would be better carried out by the state.

Last week, Microsoft founder Bill Gates attempted to convince billionaires around the world to agree to give away half their money to charity. But in Germany, the “Giving Pledge,” backed by 40 of the world’s wealthiest people, including Gates and Warren Buffet, has met with skepticism, SPIEGEL has learned.

“For most people that is too ostentatious,” said the asset manager of one of the billionaires contacted by Gates, adding that many of the of the people contacted had already transferred larger proportions of their assets than the Americans to charitable foundations.

 Dietmar Hopp, the co-founder of the SAP business software company, has transferred some €2.9 billion to a foundation. Klaus Tschira, another founder of SAP, has handed more than half his wealth to a foundation.

Peter Krämer, a Hamburg-based shipping magnate and multimillionaire, has emerged as one of the strongest critics of the “Giving Pledge.” Krämer, who donated millions of euros in 2005 to “Schools for Africa,” a program operated by UNICEF, explained his opposition to the Gates initiative in a SPIEGEL interview.

SPIEGEL: Forty super wealthy Americans have just announced that they would donate half of their assets, at the very latest after their deaths. As a person who often likes to say that rich people should be asked to contribute more to society, what were your first thoughts? Read more of this post