Kumar Mangalam Birla is an Indian industrialist and the chairman of the Aditya Birla Group. It is one of the largest conglomerates in India. After the death of his father, Aditya Vikram Birla, Kumar took over as chairman of the Aditya Birla Group at just the age of 28.
Under his leadership, the Aditya Birla Group became the third-largest business group in India. Today, his net worth is estimated at around $16.7 billion. Here’s his success story.
Kumar Mangalam Birla was born on June 14, 1967, in Kolkata. Kumar is a fourth-generation member of the Birla family.
He completed his high school education at the Sydenham College of Commerce and Economics, Mumbai. After high school, Kumar obtained a bachelor’s degree from the H.R. College of Commerce and Economics of the University of Mumbai.
Later, he went to the London Business School and got an MBA in 1992 from the University of London. He is also an honorary fellow at LBS. In addition, he is also a chartered accountant from the ICAI.
In 1995, Kumar’s father, Aditya Vikram Birla, passed away due to prostate cancer. At the tender age of 28, Kumar Mangalam Birla took over the position of chairman.
In an interview, he said, “It left me without a preference but to grow up fast.” He similarly said, “It became a big learning experience by itself. It taught me about the impermanence of life, how to be resilient, and to additionally admire the support of family and close friends who noticed us through this very tough phase.”
“I had no choice, however, but to grow up fast.” Kumar Mangalam Birla
During his tenure as chairman of the Aditya Birla Group, the group’s annual turnover reached US$48.3 billion, nearly 20 times greater than what it was when he took over. In addition, these days, Aditya Birla Group is a multinational conglomerate working in 36 countries with over 120,000 employees.
It is used in many different industries, such as textiles, cement, metals, chemicals, retail, and communications. Kumar is also the chancellor of the Birla Institute of Technology and Science and the chairman of the IIT in Delhi and the IIM in Ahmedabad.
Lessons we can learn: —
Due to his father’s death, Kumar Mangalam Birla had to take over his company at a very young age. But, with hard work, passion, and determination, he began making major changes and took ABG to new heights.
He once said, “Well, I think the only golden rule I can think of is the fact that you must follow your passion and do something that’s close to your heart. And I think that that’s very important, well, to be successful and to be happy.” To succeed, you need to believe in yourself and keep following your dreams.
Courtesy: Failure Before Success