Landed with $15, now multi-millionaires - Success of Indians
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Location: carl sagan's universe
Posted on: 18-06-07 09:59:28
JUst as an FYI, I know many people who have studied in prestigious schools like MIT, Wharton (neither Ivy League), Caltech, Yale, Harvard, Cornell, Brown, Columbia(last 5 all Ivy League) and are still working, not for paltry sums, and not millionaires.
Besides where in the article does it say they are multi-millionaires? Only revenue is talked about and their profit is still to materialize, unless of course the article is dated.
There are many success stories in Canada that don't make it to the newspapers. Nav Bhatia as someone pointed out is an example. Bhim Asdhir of Excel Funds is another. Then there are many of other nationalities. What about the young siblings who make damn good beer, but they I believe are born and bred here. Whatever though. It is not the education but the fire in you that is the deciding factor.
Many from non-descript universities make it big time. As a matter of fact, my hypothesis is that the majority of successful people probably are not not from prestigious universities but as Surjit Babra(another successful immigrant) of Skylink Aviation says they are most likely graduates of "the university of hard knocks"
As someone so lucidly pointed out, there is a flaw in that story. They arrived with $15, where did they get money to study at Wharton and MIT? Scholarships?
Anyway, make of it what you will.
There were so many successful businessmen who have not had a really top class formal education
For example, Walt Disney, Harlan Sanders, Dave Thomas ....
and of course Bill Gates
It's often been said that:
The A grade students wind up working for the C grade students, and the B grade students work for the government...
In any case, the news story is only part of the whole picture.
For example, it doesn't say what the brothers' financial or family background was, how they came about in the US, how they managed to acquire such top quality education (with only $15 in their pocket), etc.
It is nevertheless a very good story of Indians achieving financial and business success in the West.
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-- Rhett Butler in "Gone with the Wind"
But all these C grade students turned businessman turned millionaires make sure that their kids go to Ivy colleges and are A grade students from start. They have the money but never deny the value of good education!
Quote:
Originally posted by jonav
But all these C grade students turned businessman turned millionaires make sure that their kids go to Ivy colleges and are A grade students from start. They have the money but never deny the value of good education!
In one of those 'millionaire' book series I read that...the self made millionaires(especially wrt small business) often see to it that their progeny get the best of education that was denied to them and in many cases trying to compensate for what they feel was a disadvantage. In most cases these well educated kids end up being part of the rat race(even at high salaries) and never manage to accumulate the wealth that their parents did, often having more debt than assets.
The book offers statistics and breakdowns to back up these claims.
Theres a jewish saying that goes something like this:
"The grandfathers make the business, the fathers grow the business and the grandsons throw away the business." Maybe theres something to it if taken with the above claims.
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Quote from self made millionaire "Main reason why people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money ... but never learn to have money work for them"
He says he became millionaire not by using his bookish knowledge but by practical knowledge and experience he got from his friend's millionaire father. Even though he has degree in business from prestigious school. Millionaire parents stress on financial education of their kids though.
Quote:
Originally posted by pratickm
(with only $15 in their pocket), etc.
That is usually the case with people coming from very rich families - they hardly carry any money in thier pockets but have good enough credit to borrow a few hundred grand just by making a phone call!
My ex- boss who is a multi millionaire (now almost a billionaire) had to borrow small change from us (whoever was around him before he left for the day at about 8-9pm) to be able to fill gas in the car!
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Chandresh
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