THE RICH­EST IN­DIAN

How Dilip Shanghvi out­did Mukesh Am­bani

Mandate - - Front Page - By Raoul Lobo

The im­pos­si­ble has hap­pened, and a vir­tu­ally un­known, self-made en­tre­pre­neur has sur­passed the mighty Mukesh Am­bani as In­dia’s rich­est man. Read on and find out ex­actly how Dilip Shanghvi cre­ated a phar­ma­ceu­ti­cal em­pire out of a 10,000 loan from his fa­ther.

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‘Iam not here to sack peo­ple, that’s not my style. I be­lieve in con­ti­nu­ity and if you look around our com­pany’s se­nior man­age­ment team, most have been with me for years. I don’t be­lieve in los­ing peo­ple.’ The room was tense and it was the first time that the se­nior brass at Ran­baxy met with their long­time com­peti­tor and now boss, Dilip Shanghvi. Ever since his com­pany Sun Pharma had ac­quired Ran­baxy, they were jit­tery about their fu­ture. But, as Shanghvi ad­dressed the room in his char­ac­ter­is­tic soft tone, dressed in his crisp white shirt, he was the very pic­ture of re­as­sur­ance and sta­bil­ity.

He even light­ened the mood by rem­i­nisc­ing about how he tried to im­press his would be wife by telling her that if they ran the busi­ness well, they could earn ` 1 crore a year. Con­sid­er­ing that he is now worth $21.8 bil­lion, ` 1 crore must now seem like chump change. But the point that he was try­ing to make to that room full of ner­vous Ran­baxy ex­ec­u­tives was the mas­sive gap be­tween his as­pi­ra­tions and his achieve­ment, a gap that seems poised to widen even fur­ther.

The closed door meet­ing that was re­ported in The Eco­nomics Times (ET) did much to re­store the morale at Ran­baxy. De­spite the po­ten­tially hos­tile man­agers, it was a sit­u­a­tion he was much more com­fort­able han­dling com­pared to the me­dia at­ten­tion he’d been get­ting ever since he was de­clared the rich­est In­dian in the world in a list com­piled by Bloomberg.

‘I am not com­fort­able at all with this tag of be­ing dubbed the rich­est In­dian and all the at­ten­tion that fol­lows. The truth is that I like to fo­cus on my work and do it right, money is in­ci­den­tal,’ Shanghvi told ET af­ter the list was out.

The news came as a shock to most that a vir­tu­ally un­known man (out­side his in­dus­try) beat the mighty Mukesh Am­bani, whose name has be­come a by­word for lim­it­less wealth and un­touch­able power. Where Re­liance In­dus­tries is seen as ubiq­ui­tous, Sun Pharma isn’t even the most widely known phar­ma­ceu­ti­cal brand. But some­how, some way, this soft spo­ken 59-year- old self­made bil­lion­aire, man­aged to es­cape our no­tice while he be­came both the rich­est In­dian and the rich­est phar­ma­ceu­ti­cal ty­coon in the world.

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