#Gujarati people became billionaires

[gujratientrepreneur]

Gujarati people became billionaires by these 3 formulas

Gujarat is the sixth most prosperous and wealthiest state in India, ranking 10th in terms of population. The 1600 km of coastline that surrounds Gujarat is one of the longest in any Indian state, and it is a major hub for global trade. Gujarat has just 5% of India's population, yet it accounts for 25% of the country's imports. Not only that, but Akal Gujarat also produces 25% cotton and 25% milk; 80% of the world's diamonds are polished in Gujarat; 27% of pressures are manufactured in Gujarat; and a petroleum refinery is located in Gujarat. Gujarat also has the state's biggest plant. Gujarati people have never let the business go out of style. Be it anywhere in the world, Gujarati businessmen have something unique to offer. We name such Gujarati entrepreneurs as Gujpreneur.

Historically, Gujarat has also been a favourable place for trading because of the people's attitudes and mindsets. As there has always been a port there, Gujarat has historically been a significant location for trade. Thus, most trading groups have traditionally preferred to remain in this region. People have always aspired to be involved in money-making businesses and have come up with novel ways to make money throughout history.

Gujarati people are well recognised for their commercial expertise and entrepreneurial drive, which have helped increase Gujarat's total wealth. Gujarat has a long history of business and trade, and the state is well-positioned at the intersection of key trade routes. Gujarat is now among the wealthiest states in India as a result of this facilitation of business and trade activity.

Here are the 3 key formulas for success brought to you by Gujpreneur on how Gujarati people became billionaires:

Formula #1: Business Acumen and Networking

"Don’t try to do everything by yourself, but try to connect with people and resources. Having that discipline and perseverance is really important." 

                     -Chieu Cao, Co-founder of Perkbox

One of the key formulas of Gujarati people becoming billionaires is that Gujarati businessmen are known for their business acumen, strategic decisions, and networking skills. They are adept at identifying opportunities and capitalizing on them. They have a keen sense of business and are always on the lookout for ways to expand their operations. They also have a vast network of contacts, which helps them identify opportunities and get things done.

For example, Uday Kotak, the founder of Kotak Mahindra Bank, started his business by offering financial support to business organizations, including Nelco, and bill discounting services to small and medium enterprises. He then moved on to offer banking services, and eventually, Kotak Mahindra Bank became one of the most successful banks in India. His business acumen and networking skills helped him build a successful business from scratch.

Formula #2: Going against the odds.

 "To win without risk is to triumph without glory."

- Corneille

One of the most well-known traits of Gujarati people becoming billionaires is their risk-taking ability. A Gujarati businessman is never afraid to take a leap. They know how to go against all odds, take calculated risks, and prepare for any possible outcome. Gujaratis do not believe in saving for the future and instead invest in their businesses. Each business loss is a learning experience for a Gujarati. Any business failure for a Gujarati businessman is an opportunity for growth. Gujarati people believe in the philosophy of "Risk hai to Ishq Hai."

A Gujarati businessman focuses on making the asset side heavier than the liability side. Gujarati people are savage in their pursuit of business. For them, no business is small. For a Gujarati businessman, every business that earns money is a good one. It is said that Gujaratis are the ones who purchase from Marwaris and sell to Sindhis while continuing to make money.

It is their inherited trait from the land to be tough negotiators, and while communicating, they are soft-spoken and quite convincing.

One of the hidden secrets of Gujarati people becoming billionaires is that they prioritize starting their own businesses over finding employment. They take chances, fall, rise, and then find out how to remain afloat as they are profoundly entrenched in them.

Formula #3: Foresightedness and Opportunistic approach

"Only the paranoid survive." 

-Andy Grove, former CEO of Intel

Money is the reward for taking on a business's risks and uncertainties. Gujarati people don't look for employment; instead, they prefer to create jobs for others in society, not just to offer social services but rather to grow their own company empires. For Gujarati people, relying on past achievements is not an option. They use their surroundings to their advantage. They are tactical, always planning ahead and identifying opportunities that are worth pursuing.

There's a famous line from the film Raees that describes the Gujarati business mindset: "Gujarati businessmen have exceptional foresight; they can predict an industry's growth from the outset, and when the time comes for people to arrive, they begin by starting to achieve a significant level. These individuals are always prepared to seize the moment and make the most of it when it arises because they are aware that there are always wonderful possibilities to scale. Keeping an eye on trends is done by almost every businessman, but Gujarati businessmen are among those who set the trends.

The key concept behind Gujarati people becoming billionaires is that "Dhando is everything". In conclusion, the success of Gujarati billionaires can be attributed to their risk-taking ability, innovative thinking, business acumen, networking skills, strong work ethic, and perseverance. These 3 key formulas have paved their way for success in business and let them build multi-billion dollar empires. By learning from their examples, aspiring entrepreneurs can adopt these formulas and increase their chances of success in their respective industries.

[tgh2023]

Top 10 Richest People In India 2023

India’s top 2 billionaires position them successfully in the list of the Top 10 richest billionaires in the world. And it’s been more than a year, hence indicating that the country has a record high number of billionaires and industrialists. 

Mukesh Ambani and Gautam Adani have become the top industrialists while Cyrus Poonawalla’s Serum Institute of India became the country’s biggest producer of Covid-19 vaccines and earned huge revenue. 

It is also important to know the contribution of Savitri Jindal, the only woman on the list of the top 10 richest people in India. 

Let’s quickly take a look at the top 10 richest people in India in 2023:

10. UDAY KOTAK

Net Worth: $13.6 Billion (as of January 2023)

Age: 63 Years

Source of Wealth: Kotak Mahindra Bank

The Indian billionaire, the Founder and Managing Director of Kotak Mahindra Group, Uday Kotak is a renowned personality and is idealised by many around the nation. He was born in 1959 in an upper-middle-class Gujarati Lohana joint family in Mumbai. 

Although he built his career as a cricketer, an immediate surgery marked the end of his cricket dreams. Recollecting the hope, he began his entrepreneurial journey by establishing his finance and bill discounting business with a seed capital borrowed from his friends and near & dear ones. As the major part of the investment that he borrowed came from Anand Mahindra, he named his agency ‘Kotak Mahindra’.

9. KUMAR BIRLA

Net Worth: $15.5 Billion (as of January 2023)

Age: 55 Years

Source of Wealth:  Hindalco Industries

Another richest billionaire on the list is Kumar Birla, the Chairman of the third largest Indian business conglomerate, Aditya Birla Group. He is also the Chairman of the Indian Institute of Management Ahmedabad and the Chancellor of the Birla Institute of Technology & Science.

He took over the Aditya Birla Group at the age of 28 due to the sudden demise of his father. He faced a lot of scepticism because of his lack of experience but with his sharp business sense, he took the company to the heights. 

8. RADHAKISHAN DAMANI

Net Worth: $16.1 Billion (as of January 2023)

Age: 68 Years

Source of Wealth: Avenue Supermarts Limited

A renowned Mumbai-based investor and entrepreneur, Radhakishan Damani is the owner of India’s third-largest mega-retail stores’ chain, ‘DMart.’ Rakesh Jhunjhunwala considers him as his mentor in the Indian share market. 

He was born in 1954 to an Indian Marwari family, born and brought up in Bikaner, Rajasthan. He started his career as a stockbroker but soon started stock trading in the Indian stock market. He gained a foothold in the business community only after he overpowered the Indian stockbroker Harshad Mehta.

7. DILIP SHANGHVI

Net Worth: $16.6 Billion (as of January 2023)

Age: 67 Years

Source of Wealth: Sun Pharmaceuticals

Dilip Shantilal Shanghvi is a popular Indian billionaire who is also the Founder of Sun Pharmaceuticals. After Dilip made the company public in 1994, three years later Sun Pharma made its first international acquisition when it bought Detroit-based Caraco Pharmaceutical Laboratories. Among many other acquisitions, the notable one was the purchase of Ranbaxy Laboratories in 2014.

Sun Pharma experienced multifaceted growth under the leadership of sharp-witted Dilip Shanghvi. In 2018, he became a member of the Reserve Bank of India’s central board.

6. LAKSHMI MITTAL

Net Worth: $17.9 Billion (as of January 2023)

Age: 72 Years

Source of Wealth: ArcelorMittal

Successfully securing his position among the top 10 richest persons in India, Lakshmi Narayan Mittal is an Indian billionaire who is the Executive Chairman of the world’s leading steel and mining company ArcelorMittal. He served as the CEO of the company till February 2021.

He was born in Sadulpur in Rajasthan in 1950. He began his career in his family’s steelmaking business in India before he moved to Indonesia in 1976 to set up a small steel company that over time grew to become today’s widely popular ArcelorMittal. He was awarded the Padma Vibhushan, India’s second highest civilian honour, by the President of India in 2008.

5. SAVITRI JINDAL AND FAMILY

Net Worth: $18.1 Billion (as of January 2023)

Age: 72 Years

Source of Wealth: O.P. Jindal Group

Savitri Jindal is a wonderful example of being the only richest woman in a self-proclaimed man’s world. She is the Chairperson Emeritus of Jindal Steel & Power Limited. She is also the President of Maharaja Agrasen Medical College (MAMC), Agroha established in 1998. 

After the sudden death of her husband, Om Prakash Jindal in 2005, India’s richest woman Savitri Jindal took over her husband’s steel and power conglomerate. Committed to following the values of OP Jindal, she is running the business with full vigour.  

4. CYRUS POONAWALLA

Net Worth: $21 Billion (as of January 2023)

Age: 81 Years

Source of Wealth: Serum Institute of India

Cyrus Poonawalla is the Founder and Managing Director of Cyrus Poonawalla Group, which includes the Serum Institute of India (SII), an Indian biotechnology company manufacturing highly specialised life-saving biologicals. 

In 1966, Cyrus incepted the Serum Institute of India to derive therapeutic serum from horse blood. Within two years, the institute launched its first therapeutic tetanus serum and started producing anti-tetanus vaccines. Although he faced a couple of challenges with financing and recognition of the company, Cyrus also stood to fight against all of them. 

3. SHIV NADAR

Net Worth: $25.6 Billion (as of January 2023) 

Age: 77 Years

Source of Wealth: HCL Enterprise

Another prominent name in the list of top 10 richest billionaires in India is famous billionaire industrialist and philanthropist, Shiv Nadar who is also the Founder of Hindustan Computers Limited (HCL). 

Shiv Nadar was born on 14th July 1945, to his father, Sivasubramaniya and mother, Vamasundari Devi in Tiruchendur, Tamil Nadu India. He started his career in 1967 as an engineer at Walchand Group’s Cooper Engineering (COEP) in Pune. After a few years, he quit his job to take up a business-oriented career in partnership with Ajai Chowdhry and other colleagues to establish an enterprise which came to be known as Microcomp under the brand name ‘Televista’. Later, all of them together founded HCL Tech in 1976 to manufacture microprocessors and calculators.

2. MUKESH AMBANI

Net Worth: $88.3 Billion (as of January 2023)

Age: 65 Years

Source of Wealth: Reliance Industries Ltd

Mukesh Ambani is a widely recognized Indian billionaire industrialist who is the Chairman and Managing Director of Reliance Industries Ltd. (RIL), an MNC with diverse businesses including energy, natural gas, mass media, retail, petrochemicals, telecommunications, and textiles. 

After the death of his father Dhirubhai Ambani, the brothers Mukesh Ambani and Anil Ambani assumed joint leadership of the Reliance companies but due to feuds between the brothers, Kokilaben Ambani, their mother, split the assets under which Mukesh assumed control of the gas, oil, and petrochemicals units. He grew the business multifariously and became one of the richest persons in India.

1. GAUTAM ADANI

Net Worth: $125.6 Billion (as of January 2023)

Age: 60 Years

Source of Wealth: Adani Group

The first name on the list of richest Indians is none other than Gautam Adani. Born on 24 June 1962, Gautam Adani is the Founder and Chairman of Adani Group. The self-made billionaire operates a world-class integrated infrastructure company that includes coal trading, coal mining, ports, oil and gas exploration, multimodal transportation, transmission, power production, and gas distribution.

In May 2022, Gautami Adani’s firm picked up two well-known companies—Ambuja Cement and ACC—that Holcim owned. He is not only India’s richest person but is also the wealthiest person in the world.

Frequently Asked Questions:

Q. Who is the richest man in Asia? Gautam Adani

Q. Why Ratan Tata is not in the list of richest people in India? Ratan Tata is involved in a lot of philanthropy work through Tata Trusts. He is at the 433 position on the IIFL Wealth Hurun India Rich List 2021. 66% of the profits earned by Tata Companies is donated for philanthropic activities. 

Q. Who will become the first trillionaire on Earth? Founder of SpaceX and Tesla, Elon Musk will become the first trillionaire in the future.

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[famouspeopleofindia]

Mukesh Ambani

Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian business magnate and chairman, managing director, and the largest shareholder of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India's most valuable company by market value. According to Forbes and Bloomberg Billionaires Index, Ambani's net worth is estimated at around US$95.4 billion as of May 2022, making him the second-richest person in Asia and India and the 9th richest person in the world.

Born: 19 April 1957 (age 65 years), Aden, Yemen Net worth: 9,220 crores USD (2022) Forbes Spouse: Nita Ambani (m. 1985) Children: Isha Ambani, Akash Ambani, Anant Ambani Education: Institute of Chemical Technology (ICT), MORE Grandchild: Prithvi Akash Ambani Siblings: Anil Ambani, Nina Kothari, Deepti Salgaocar

Early life

Mukesh Dhirubhai Ambani was born on 19 April 1957 in the British Crown colony of Aden (present-day Yemen) into a Gujarati Hindu family to Dhirubhai Ambani and Kokilaben Ambani. He has a younger brother Anil Ambani and two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaonkar.

Ambani lived only briefly in Yemen because his father decided to move back to India in 1958[8] to start a trading business that focused on spices and textiles. The latter was originally named "Vimal" but later changed to "Only Vimal".[9][10] His family lived in a modest two-bedroom apartment in Bhuleshwar, Mumbai until the 1970s. The family's financial status slightly improved when they moved to India but Ambani still lived in a communal society, used public transportation, and never received an allowance. Dhirubhai later purchased a 14-floor apartment block called 'Sea Wind' in Colaba, where, until recently, Ambani and his brother lived with their families on different floors.

Education

Ambani attended the Hill Grange High School at Peddar Road, Mumbai, along with his brother and Anand Jain, who later became his close associate. After his secondary schooling, he studied at St. Xavier's College, Mumbai. He then received a BE degree in chemical engineering from the Institute of Chemical Technology.

Ambani later enrolled for an MBA at Stanford University but withdrew in 1980 to help his father build Reliance, which at the time was still a small but fast-growing enterprise. His father felt that real-life skills were harnessed through experiences and not by sitting in a classroom, so he called his son back to India from Stanford to take command of a yarn manufacturing project in his company.

Ambani has been quoted as saying that he was influenced by his teachers William F. Sharpe and Man Mohan Sharma because they are "the kind of professors who made you think out of the box."

Career

In 1981 he started to help his father Dhirubhai Ambani run their family business, Reliance Industries Limited. By this time, it had already expanded so that it also dealt in refining and petrochemicals. The business also included products and services in the retail and telecommunications industries. Reliance Retail Ltd., another subsidiary, is also the largest retailer in India. Reliance's Jio has earned a top-five spot in the country's telecommunication services since its public launch on 5 September 2016.

As of 2016, Ambani was ranked 36 and has consistently held the title of India's richest person on Forbes magazine's list for the past ten years. He is the only Indian businessman on Forbes' list of the world's most powerful people. As of October 2020, Mukesh Ambani was ranked by Forbes as the 6th-wealthiest person in the world. He surpassed Jack Ma, executive chairman of Alibaba Group, to become Asia's richest person with a net worth of $44.3 billion in July 2018. He is also the wealthiest person in the world outside North America and Europe. As of 2015, Ambani ranked fifth among India's philanthropists, according to China's Hurun Research Institute. He was appointed as a Director of Bank of America and became the first non-American to be on its board.

Through Reliance, he also owns the Indian Premier League franchise Mumbai Indians and is the founder of the Indian Super League, a football league in India. In 2012, Forbes named him one of the richest sports owners in the world. He resides at the Antilia Building, one of the world's most expensive private residences with its value reaching $1 billion.

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