Mukesh Ambani, the Indian business tycoon, is today, the wealthiest individual in Asia. He is the fifth richest person in the globe with an estimated worth of 83.6 billion USD. You must be wondering, that to reach this pedestal, Ambani must have acquired hell lot of degrees. But you will be staggered to know that he is a dropout from the renowned Stanford University. Although this fact is not to be celebrated, this college dropout is today, the chairman of the prestigious industrial conglomerate Reliance Industries Ltd.
The group is a Fortune listed firm, with interests in diverse fields ranging from retail, petrochemicals, textiles, energy and telecom. As of today, the group is worth a massive 92 billion USD. But, the critical thing to notice is that, before joining Masters at Stanford University, Ambani had accomplished his Bachelors in Chemical Engineering from the prestigious Institute of Chemical Technology. So, this shows that there is more to being successful in life than acquiring degrees. If you examine the careers of all the leading business people in the world, like Bill Gates, Steve Jobs, Richard Branson etc., none of them completed graduation and dropped from their respective universities. Now, let us examine this fascinating journey.
Fantastic Ride of Successful Career
Mukesh Ambani was born in Aden, in 1957, to noted industrialist Dhirubhai Ambani. He accomplished his schooling from St.Xavier’s College Mumbai, and then completed his graduation from the Institute of Chemical Technology, Mumbai. He later then enrolled for MBA in world-beating Stanford University, but then later dropped out to join his family business in 1980. The late patriarch Dhirubhai Ambani believed that real-time business skills are acquired on the field and not in the classroom. What a valuable piece of advice it was. The first initiative, which he took after joining Reliance, was creating Polyester Filament Yarn plant.
He was instrumental in establishing the Patalganga petrochemical plant and later on the world’s biggest petroleum refinery at Jamnagar, India. This plant produces more than six lakh barrels per day, which was combined with power generation, petrochemicals, port and other infrastructure. Other achievements consist of the inauguration of 4G smartphone brand known as LYF. Also, Reliance Jio Infocomm Limited service was launched as Jio and has become the second or the third largest selling brand.
He currently lives in Mumbai, in the costliest mansion in the world, known as Antilla. The house has 27 stores and has a value of 1 billion USD. He holds the designation of “The World Richest Sports Team Owner “when he purchased the IPL team Mumbai Indians. The transaction value was USD 111.9 million. Besides, he also founded the Indian Super League and held the distinction of being the Director of Bank of America, as the first non-American to do. You can gauge Ambani’s achievements by the fact that he has beaten the legendary Jack Ma, the chairman of Alibaba group.
Life-Teachings from This Great Tycoon
Now, let us throw a light on his life-teachings derived from various challenges faced by him during career journey-
1) Education is not always sufficient.
The legend Dhirubhai Ambani started his small textile manufacturing firm in 1966 and Mukesh dropped out of MBA at Stanford University, and assisted his father full time in turning the firm into a national icon. Dhirubhai always treated his son like his employee. So, even without acquiring an MBA degree, he has become the most outstanding businessman in the country. So, Ambani’s theory is entirely correct that no business school can substitute for real-life experience.
2) There is no limit to success.
Mukesh Ambani’s career amply proves that there is no limit to success. He led the discovery of India’s most significant gas reserves in three decades and launched Reliance Fresh, one of the largest retail stores in the country. Its number is around six hundred. Reliance Industries Limited has also collaborated with British Petroleum, the giant petroleum organization in the world. To increase digitalization in the country, Reliance subsidiary Jio has joined hands with global IT giants like Facebook, Google, Microsoft etc. With this development, Jio expects to become the most valuable brand in the world.
3) Your employees are your treasure and not your profits.
In this Future Decoded Summit held in 2019, Ambani much emphasized that the employees are a core strength of the organization, instead of profits. He greatly admired the leadership style of the CEO of Microsoft, Satya Nadella, who always keeps his employee interests at the top, instead of focussing only on the bottom line.
4) Any output is achievable.
Mukesh was felicitated in 2013, with NDTV award of 25 Greatest Global Living Legends. He in his great humility dedicated his prize to the late Dhirubhai Ambani, in which he said that the legend commenced his firm Reliance with only 1000 rupees and showed that what a man on the street can accomplish.
5) Pursue excellence and keep high targets.
In that same ceremony, Mukesh extolled the Indian youth to reach for the sky and aim big. He extorted the young to keep moving on, despite obstacles and never compromise on the output. Mukesh cited the life story of Dhirubhai and asked him to follow his example.
So, by reading this blog, you will come to know that how to achieve success by using unconventional methods and focus on practical experience, instead of wasting money on acquiring expensive degrees. The life of Mukesh Ambani demonstrates to keep on moving, in spite of obstacles.