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A Curious Phrase To Remember A Lesson Never To Be Forgotten


wealthymatters

Tarachand Ghanshyam Das was a Marwari Business that operated from 1791 to 1957.It enjoyed such prestige and credibility that its Hundi was negotiable through multiple offices and accepted by moneylenders and traders across the country.The Birla family got its start in Calcutta as sub-agents to this firm.
Bugotee Ram,the ancestor of the Poddars of Tarachand Ghanshyam Das was the treasurer or the Fotedar of the nawab of Fatehpur, Rajasthan. Their family name is a corruption of this title of Fotedar. Bugotee Ram was also a banker to the royal families of Jaipur, Bikaner, and Hyderabad. The Poddar family originally belonged to Churu in Rajasthan. When the local thakur imposed heavy tax on the wool trade, in 1791, the Poddars moved to a village in the domain of Raja of Sikar and named it Ramgarh.

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Trends To Note


wealthymattersAmong Chinese millionaires with a net worth of more than $1.5 million, half either plan to or are considering moving abroad.

The U.S. remains the most popular destination for wealthy Chinese moving their families and fortunes abroad. Canada ranks second, overtaking the U.K., which had ranked second but now ranks third. Australia comes in at fourth.

The favorite city for wealthy Chinese moving to the U.S. is Los Angeles, while Seattle ranks second followed by San Francisco. New York ranked fourth. Read more of this post

Press On


wealthymatters

Indian Philanthropy


wealthymatters.comHere are some major features of Indian Philanthropy as enumerated by eminent Indian businesspeople.They are perspectives that were articulated in response to the Gates-Buffett ‘the Giving Pledge’

1.”India has a very old culture of giving, since the time of Buddha. The concept of philanthropy is not new to us.”—-Rahul Bajaj, chairman, Bajaj Group.

2.”Philanthropy in the first world and in the third world are two different things. In the first world people donate to build a baseball stadium. In India, we have to decide for ourselves what we want out of philanthropy. It is not for the Americans to tell us.”

“shareholders have done more charity than Gates and Buffett put together. How? By allowing Cipla to export drugs for $100 million to Africa, which could have fetched $4 billion if they were exported to the US”—-Yusuf Hamied, chairman & managing director, Cipla Read more of this post

Mukesh Ambani – In His Own Words


wealthymatters.com Normally here are only 3 types of articles on the Ambanis: Awestruck journalists gushing about the Ambani fortune, trenchant criticism from people who seem to have the belief that all money is evil and that great wealth is singularly evil and society mags featuring the newest Ambani Toys and other tittle-tattle.Just because this article is so very different from the normal ones I have kept it so far.Thought I would share it here even though it dates from 2007. The highlighted bits are stuff I found interesting.I got a couple of good money making ideas out of reading this piece.I hope you do too.

But very little is publicly known of his beliefs, vision and motivation. In his most expansive interview ever to MoneyLIFE, a personal finance magazine, Reliance Industries chairman Mukesh Ambani tells
MoneyLIFE editors Sucheta Dalal and Debashis Basu, what drives him and his business decisions

A lot of details about your life are already known. But we don’t know things from your end. Your life has changed dramatically in just about three decades; will you take us through that process?

From my point of view, very little has changed (Laughs). In terms of attitude to life, little has changed. There are important lessons I have learnt during my upbringing. It is important to share these, though these are tough to practise as a parent (smiles).

We were like a joint family and I was the first child of the family of that generation. There were advantages in being the first child those days. My father navigated through life from Aden in Yemen to Bhuleshwar (a congested commercial precinct in Mumbai , to Usha Kiran (Mumbai’s earliest skyscraper) at Altamount Road to Sea Wind (an exclusive tower which is the Ambani residence).

My first memories are of the early ’60s at Altamount Road which was then an emerging area. We were a close-knit family and the four of us — Dipti, Nina, Anil and I — were left to do what we wanted. There were boundaries, of course, but within those, we were not micro-managed. Things have changed so much now. When my kids, Isha and Akash, were in the third standard, we behaved as though it was our exam.

Our own childhood was totally different. I guess when you are left on your own, you find your true potential. I remember my father never came to our school even once. Nevertheless, he was hugely interested in our all-round development for which he did some amazing things. Read more of this post

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