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

Distribution of Billionaires by Country


According to Forbes there are 1011 billionaires in the world.The following table shows the top 10 countries by the number of billionaires.China has about a quarter of the number of billionaires compared to the US and India at third place has a little more than half the number of billionaires found in China.

Rank Country Number of billionaires
1  United States 403
2  China 128
3  India 69
4  Russia 62
5  Germany 53
6  United Kingdom 29
7  Turkey 28
8  Hong Kong SAR, China 25
9  Canada 24
10  Japan 22
10  Indonesia 22

The table below ranks Asian countries on the basis of the number of billionaires.

Rank Nation/Region Number of billionaires
1  China 128
2  India 69
3  Hong Kong SAR, China 25
4  Japan 22
4  Indonesia 22
6  Taiwan 18
7  South Korea 11
8  Saudi Arabia 10
9  Israel 10
10  Malaysia 9
11  Kazakhstan 5
12  Philippines 5
13  Lebanon 4
14  Singapore 4
15  United Arab Emirates 4
16  Thailand 3
17  Kuwait 1
18  Pakistan 1

If we add the Chinese and HK numbers,China truly has beaten India hands down.The only twist in the tale is that India remains home to the region’s wealthiest individuals. Ten of Asia’s top 25 billionaires are from India.The wealthiest 100 Indians are collectively worth $276 billion, while their top 100 Chinese counterparts are worth $170 billion. (Put another way, the three wealthiest Indians have more cash than the top 24 Chinese.)

108 Names of Lord Kubera


SRI KUBERA ASHTHRA SATHA NAMAVALI

1. Om Kuberaya Namah                                                                                      wealthymatters.com                                                                                                                                             2. Om Dhanadaya Namah
3. Om Srimate Namah
4. Om Yakshesaya Namah
5. Om Gugyakeswaraya Namah
6. Om Nidhisiya Namah
7. Om Sankara Sakaya Namah
8. Om Mahalakshmi Nivasabhuve Namah
9. Om Maha Padma Nidhisiya Namah
10. Om Poornaya Namah
11. Om Padmanithiswaraya Namah
12. Om Sankaya Nithi Nadha Namah
13. Om Makaragya Nithi Priya Namah
14. Om Sookachhappa Nidhisaya Namah
15. Om Mukunda Nithi Nayakaya Namah
16. Om Kundakyanidhinathya Namah
17. Om Neela Nithyadipaya Namah
18. Om mahathe Namah
19. Om Varanithyadhi Paya Namah
20. Om Poojyaya Namah
21. Om Lakshmi Samrajya Dayakya Namah
22. Om Ilapilapadayaya Namah
23. Om Kosadeesaya Namah
24. Om Kulodisaya Namah
25. Om Ashvarudaya Namah Read more of this post