Many years ago, I interviewed someone from a company called John Crane, which supplies equipment to the oil and gas sector. This guy was a top official and he had come down from the US for a meeting with Mukesh Ambani. So, I asked him about his experience of dealing with the elder Ambani brother. This is what he said: “Mukesh bhai is a wonderful person. But when he is seating at the negotiation table, very few can match his business acumen and homework. In fact, after the deal was over and we shook hands, I had to check if my hand was still with me. He's that sharp!”
The above description of Mukesh Ambani is definitely a key reason why he is more successful than Anil Ambani!
Above: The focus was always different!
The death of their father Dhirubhai in 2002 sparked a battle for control which ultimately lead to the split of the Reliance Group. Their mother brokered a demerger in 2005, which gave Mukesh control of oil and gas, petrochemicals, refining and manufacturing while Anil took charge of electricity, telecoms and financial services.
What happened after this split led to two great examples of business. One has been about success and the other has been about failure.
Anil worked on building assets while Mukesh worked on building his businesses. Anil was all about flamboyance while Mukesh was all about focus. While Anil was working on his refined lifestyle, Mukesh was busy building his refinery. While Anil was busy running marathons (yes, he did that), Mukesh was busy with marathon board meetings that were taking his organisation to the next level. Mukesh created wealth; Anil created debts. Anil was conscious about his public image; Mukesh was careful about his stakeholders’ interests.
Anil was all about flair; Mukesh is all about quiet leadership! For example, Mukesh always keeps close watch on his business and his strategies. He believes in doing his homework, in planning and staying focused during execution. He is known to retain his cool even in high stress situations. His associates say that they have not seen him get angry with or shout at any person even in the most tense of situations despite the power he wields.
The result? Mukesh Ambani is more successful than Anil Ambani. And the following numbers prove it substantially!
Mukesh Ambani, 61, displaced China’s Jack Ma as Asia’s richest man, on the back of the Jio Revolution that rocketed his petrochemicals conglomerate Reliance Industries Ltd. into the US$100 billion club. His personal wealth has enhanced to $43.1 billion, according to the Bloomberg Billionaires Index, $5.2 billion more than Jack Ma and just ahead of Microsoft Corp.’s former chief, Steve Ballmer. On the other hand, last year, many of Anil Ambani’s businesses suffered legal and liquidity challenges that cut down his personal fortune by almost half to $1.5 billion.
India's wealthiest person Mukesh Ambani earned Rs 187.9 crore per day on an average while his younger brother Anil Ambani lost Rs 14 crore everyday in last one year. Forbes Magazine recently revealed the India Rich List 2018 which featured India's 100 richest people and Mukesh Ambani topped the list for the 11th time with a total net worth of $47.3 billion which is equal to Rs 3,48,934.47 crore.
As of today, the Supreme Court held Anil Ambani (as RCom chairman) in contempt for not paying Ericsson’s dues worth Rs. 550 crore despite having the money to do so, threatening to send him to jail for three months if he didn’t pay up in four weeks. Of this, Rs. 118 crore is already deposited by RCom with the SC and it will be paid to Ericsson in a week. Since the amount to be paid has been calculated at Rs. 571 crore along with interest, the amount due in four weeks is Rs. 453 crore.
By the way, it is reported that Mukesh spent close to Rs.800 crore for his daughter’s wedding recently.
Sources: Personal Experience, Timesnownews, theprint, moneyexcel, ET
Comments
Post a Comment