8th Aug 2020, Mukesh Ambani becomes the 4th richest person in the world (according to Forbes). To rank in the world top 10, it takes a lot of hard work, dedication and consistency. Sir Mukesh Ambani did it all and no doubt he deserves everything, even the title of being the world’s number one (hopefully one day).
A fascinating fact in all of this is that he belongs to India, a country which has been criticised for years to be not so “business-friendly”. But he still did it in India only.
That surely means India is one of the best places to be a businessman right? I highly doubt that.
India still imposes a 30% corporate tax on businesses and not to mention the complicated legal systems, red-tapism, wealth taxes and the unwelcomed business culture in India.
Not to forget for one Mukesh Ambani in India, there are lakhs and lakhs of failed startups and entrepreneurs behind him who lost the race.
How Mukesh Ambani still did it?
His game was way beyond the system. His 70% EAT was way beyond the 80-90-100% EAT of the rest of the world.
The ability to bring in the investors when almost the whole of India and the world was on lockdown is something that not all of us or even the best of us can do.
Conclusion
What do I interpret from this? Mukesh Ambani would still have been successful had he been in any other part of the world. Probably, he must have been the number one on the Forbes list by now had he belonged to some other country (where tax rates for businesses were low basically).
The question is not will Mukesh Amabani become the richest man alive on earth but will the petrol pump operator, working at one of his petrol stations, ever wish or be willing to do it just like Dhirubhai Ambani did?
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