“I can’t pick the tops, but I can pick the bottoms.”


wealthymattersJeff Sandefer was once my teacher in school.Since graduating from Harvard Business School in 1986, Sandefer has had many successful business ventures, amassing a personal fortune of hundreds of millions of dollars.

Here is the story of how this Texas oilman acquired 17 billion barrels of Australian shale oil reserves in a controversial deal that eventually generated roughly $150 million for his philanthropic organizations. Those nonprofit groups now play a major role in Sandefer’s efforts to change higher education in Texas.

Confidentiality agreements prohibit Sandefer from revealing details of the Australian play. He says he can’t even confirm the identity of his partners, the Ziff brothers of New York, even though their involvement is widely known.

Some in the Australian media have portrayed Sandefer’s 2003 investment in Southern Pacific Petroleum as a calculated ploy to force SPP into liquidation and hijack the company’s vast reserves and technology. Read more of this post

Give To Your Local Community


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Narayana Murthy On Ratan Tata


wealthymatters,comWhat are your fondest memories from your interaction with Tata?

” When we inaugurated our management council room, which I believe is the most advanced council room with perhaps the finest technology in Asia, I had a discussion with my colleagues and we decided to name it after Jamsetji Tata. Jamsetji Tata, as you know, was an extraordinary businessman. He donated one-third of his wealth to start the Indian Institute of Science.

So, when we decided to name the management council room, I decided to invite Ratan to inaugurate that. He was a little bit surprised that we were naming our number one conference room after Jamsetji Tata. I told him, ‘Jamsetji is a beacon and an example on how businesses should be conducted.’ He came and inaugurated it, he had lunch with us, interacted with youngsters. And every one of my colleagues was so impressed with his grace, courtesy and humility.”

Rakesh Jhunjhunwala On What Money Means To Him


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Here is what Rakesh Jhynjhunwala has to say on what money means to him:

If you ask me what money means, I’d say it’s used as a means of exchange, among other things.But J Paul Getty, one of the world’s richest men, said: If you can count it, you don’t have enough of it.

Money is the harsh reality of life. Some love for it, some die for it, some use it well, some waste it, most fight for it, but most others desire it. Read more of this post

Zakat


hifzan shafiee

One of the most important principles of Islam is that all things belong to Allah, and that wealth is therefore held by human beings in trust. Therefore, our possessions are purified by setting aside a proportion for those in need.

Zakat – also known as zakah – is one of the Five Pillars of Islam, and serves principally as the welfare contribution to poor and deprived individuals. The payment of zakat is obligatory for every sane and mature Muslim whenever there is an economic activity resulting in the net increase in their wealth.

Zakat not only purifies the property of the contributor but also purifies his heart from selfishness and greed. It also purifies the heart of the recipient from envy and jealousy, from hatred and uneasiness and it fosters instead goodwill and warm wishes for the contributors.

Paying zakat compulsory, and the Qur’an states that those who pay zakat…

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