Category: Leaders

In the world of luxury fashion and retail, few names command as much respect and admiration as Bernard Arnault. As the Chairman and CEO of LVMH Moët Hennessy Louis Vuitton, Arnault has not only solidified his position as one of the most influential figures in the industry, but has also left an indelible mark on the global business landscape. Beginning from a small town in France to becoming a self-made billionaire and a revolutionary force in the luxury industry, Arnault demonstrates the power of relentless pursuit of excellence, commitment to innovation, and global vision

In the annals of business history, the story of Bernard Arnault stands as a testament to the power of vision, innovation, and relentless determination. He is the Chairman and Chief Executive of LVMH, which owns Louis Vuitton, Christian Dior and Moët & Chandon champagne. The company’s shares have shot up by more than 150% in the past three years, hitting a new high of €853 in April 2023. The rise helped Arnault and his family witness an estimated peak net worth of US$240.7 billion, making him the richest person in the world at the time. The 74-year-old then became only the third person in history – after Tesla’s Elon Musk and Amazon’s Jeff Bezos – to have hit the milestone of amassing an estimated fortune above $200 billion. In 2022, LVMH achieved record sales of €79.2 billion, and has begun a €1.5 billion share buyback programme, which has helped further lift the share price.

EARLY LIFE AND AMBITION

However, there is more to Arnault than his stupendous wealth. Born in Roubaix, France, in 1949, he emerged from humble beginnings to become a self-made billionaire who not only transformed his life, but also revolutionised the entire luxury industry. His journey to the pinnacle of the luxury industry began with a keen interest in entrepreneurship and a burning ambition to succeed.

Arnault attended the prestigious École Polytechnique and École des Hautes Études Commerciales in France, acquiring a solid educational foundation in engineering and business management. This academic rigour would serve as the foundation for his future success. His early career saw him working for his family’s construction and real estate business, Ferret-Savinel. However, it was his acquisition of Boussac, a textile company in financial distress that marked the turning point in his career. At just 34 years old, the young leader displayed his entrepreneurial acumen by reviving the struggling firm, laying the groundwork for his ascent in the business world.

THE BIRTH OF LVMH

The defining moment in Arnault’s career came in 1989 when he engineered the takeover of Moët Hennessy Louis Vuitton (LVMH). Recognising the immense potential of the luxury market, he embarked on a mission to consolidate and redefine the industry. This bold move laid the foundation for the creation of the world’s largest luxury conglomerate.

Under Arnault’s leadership, LVMH acquired an impressive portfolio of iconic brands, including Louis Vuitton, Christian Dior, Givenchy, Fendi, and many others. His ability to identify and nurture talent, coupled with a commitment to preserving the unique identity of each brand, set LVMH apart as a leader in the luxury market.

Arnault’s visionary leadership style encouraged innovation and creativity within the conglomerate. He understood that luxury is not static; it evolves with the times. As a result, the leader championed collaborations with artists, designers, and even technology companies, taking LVMH to new heights, and pushing the boundaries of what luxury could be.

“BEYOND BUSINESS SUCCESS, BERNARD ARNAULT CHAMPIONED SUSTAINABILITY AND SOCIAL RESPONSIBILITY. HE COMMITTED LVMH TO ENVIRONMENT-FRIENDLY PRACTICES AND ETHICAL SOURCING, ALIGNING THE LUXURY INDUSTRY WITH CHANGING CONSUMER VALUES”

AHEAD OF THE CURVE

At the heart of Arnault’s leadership is his visionary approach. He has always been ahead of the curve, possessing an innate ability to spot opportunities and trends in the luxury market long before others. His foresight allowed him to acquire iconic brands such as Louis Vuitton, Christian Dior, and Moët & Chandon, transforming LVMH into a conglomerate that houses over 70 prestigious brands spanning fashion, cosmetics, jewellery, and more.

Arnault was among the first to recognise the potential of emerging markets, particularly China. He strategically positioned LVMH to capitalise on the rising affluence of consumers in these regions, solidifying its global dominance. His acquisitions and partnerships have strengthened LVMH’s presence in key markets worldwide. Its commitment to international growth has helped it become a truly global luxury powerhouse.

One of Arnault’s key leadership achievements is his ability to create synergy among LVMH’s diverse portfolio of brands. He has fostered collaboration and cross-pollination between brands, enabling them to share resources, expertise, and market insights. This synergy has increased the overall value of LVMH, and allowed each of its brands to thrive within the conglomerate.

COMMITTED TO CHANGE

Throughout his tenure, Arnault has faced numerous challenges, from economic downturns to global crises. However, his leadership has consistently demonstrated resilience and adaptability. His ability to pivot and make tough decisions has allowed LVMH to weather storms and emerge stronger from adversity. Today, his leadership is a testament to his visionary mindset, innovative spirit, and commitment to excellence.

Beyond business success, Arnault championed sustainability and social responsibility. He committed LVMH to environment-friendly practices and ethical sourcing, aligning the luxury

industry with changing consumer values. It sticks to sustainable practices, such as reducing carbon emissions and promoting ethical sourcing.

Rising from a humble background to a position where the whole world gets inspiration from your exceptional success story is one of the biggest achievements a person can accomplish in his life. Mr. Lakshmi Mittal created a similar career story, and is now helming the world’s largest steelmaking company – ArcelorMittal.

A STEELY DETERMINATION

Born in a small town called Sadulpur in Rajasthan, he moved with his family to Calcutta where his father began his own business in a challenging environment. When Lakshmi Mittal graduated from Jesuit College, St Xavier’s with excellent grades in accounting and mathematics, he surprised everyone by joining his father’s business, Ispat, instead of going for a career in accountancy.

A farsighted leader, he got inspired “by the massive rollers driven by rubber belts and pulleys that flattened the red hot steel into bars,” and founded his own establishment, LNM Group in 1976 at the age of 26. He had a vision in his mind to be the leading player of the steel market, and to turn that vision into reality he gradually started expanding his business at the global level. It was in the year 2004 that his dreams came true when he created Mittal Steel by merging Ispat International and LNM Holdings. The same year Mittal Steel became the largest steelmaker in the world, with shipments of 42.1 million tonnes of steel and profits of over $22 billion. The firm proudly employs 300,000 people in 60 countries.

Again taking an astonishing step in the year 2006, he acquired Arcelor Steel, a company created through a merger of firms from Spain, France, Luxembourg, and Belgium. This huge acquisition resulted in the formation of what now is the biggest steel firm on earth – ArcelorMittal.

HOLDING A GOLDEN HEART

An active philanthropist, Mr. Lakshmi Mittal has made huge contributions towards various social issues. In 2008, he made a donation of £15 million to Great Ormond Street Hospital in London. He also collaborated with the Government of Rajasthan to lay down the foundation the LNM Institute of Information Technology (LNMIIT) in Jaipur. Further, his charitable foundation – Lakshmi Niwas Mittal and Usha Mittal Foundation has also established the Usha Lakshmi Mittal Institute of Management in New Delhi, and Bal Vidya Bhawan. Passionate about sports and dedicated towards encouraging the deserving sportspersons, he has also set up Mittal Champions Trust with $9 million to support 10 Indian athletes with world-beating potential.

Apart from leading ArcelorMittal, Mr. Lakshmi Mittal is also a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, and the World Economic Forum’s International Business Council. He is also a member of the International Iron and Steel Institute’s Executive Committee. He received the “Steelmaker of the Year” award in 1996 by New Steel, and the “Willy Korf Steel Vision Award” in 1998, for outstanding vision, entrepreneurship, leadership, and success in global steel development from American Metal Market and PaineWebber’s World Steel Dynamics. He was also honored with Padma Vibhushan, the second-highest civilian award of the Republic of India, in the year 2008.

Though he considers himself a “global Indian”, his heart belongs to India. He is considered a national icon in India and his story has inspired many young entrepreneurs.

Adi Godrej heads the 120-year-old Godrej Group, which has a revenue of US$5 billion and comprises several consumer-goods companies. The Group came into existence, when Ardeshir Burjorji Sorabji Godrej established the Godrej Group in 1897, giving up his profession as a lawyer to make locks, and his brother Pirojsha Burjorji acquired a vast stretch of land in suburban Mumbai. The Group also has its roots in the country’s independence struggle including the Swadeshi Movement.

Adi Godrej graduated from Massachusetts Institute of Technology, and came back to India in 1963 to join the family business. He became the Chairman of the Group in 2000. Though he joined the family business, both the state and the status of the Group or the companies have immensely improved since he joined. Actually, he is credited with modernising the management structure and improving processes in the organization.

He is currently the head of the Godrej family, and chairman of the Godrej Group. As of November 2017, his individual net worth is US$2.8 billion. The Godrej family’s net worth as of April 2017 is US$14.2 billion.

He was very close to his socialite and philanthropist wife, Parmeshwar Godrej , who left him for the heavenly abode in October 2016. His three children help him fill the void. Eldest daughter Tanya Dubash is Executive Director and Chief Brand Officer of the Godrej Group. Nisaba is the second child, and is currently the Chairperson of Godrej Consumer Products. The youngest son Pirojsha Godrej is the Executive Chairman of Godrej Properties.

Adi Godrej is not known for wearing his emotions on his sleeve; however, at the same time there is no doubt that he is genuinely concerned for his people in the Godrej Group. Of course, he is better known for his strong work ethics, a sense of fairness and personal integrity, which not only inspire the people who work with him but also serve as a benchmark for all.

As the Chairman of Godrej Group, he has established Godrej Properties as a strong real estate player in the Indian market, with a belief that it is uniquely positioned to take advantage of the increased need for excellence in real estate. Godrej Properties was the first Indian real estate development company to have obtained an ISO certification. Adi Godrej has always believed in quality processes, a philosophy of putting customers’ interests first, and has guided Godrej Properties to develop millions of square feet of quality real estate in the form of several signature projects, with an unwavering commitment to improvement and innovation.

Godrej Group has diversified interests and products, and GCPL is the flagship firm of the Group, which has presence in consumer goods, real estate, appliances, and agriculture sectors, among others. The Group companies manufacture several products including locks, soaps, property, retail and animal feed to the engines that power India’s space programmes.

STURDY PERSONAL & PROFESSIONAL GROWTH

Under the stupendous guidance of Adi Godrej, Godrej Consumer Products has grown into a strong FMCG player in the market.

The approach can be best described as a 3X3 model, by which he has successfully expanded internationally – building a presence in 3 emerging markets (Asia, Africa, Latin America) across 3 categories (homecare, personal wash and hair care).

He has regularly served as the Head of several Indian Trade and Industrial Bodies and Associations, including the Indian School of Business as Chairman; Confederation of Indian Industries (CII) as President; Dean’s Advisory Council of the MIT Sloan School of Management as Member; and Narsee Monjee Institute of Management Studies as Chairman of the Board of Governors.

His stature in the society and business community can be judged by the awards he has won, which include the Rajiv Gandhi Award; The American India Foundation (AIF) Leadership in Philanthropy Award; The Entrepreneur of the Year, Asia Pacific Entrepreneurship Awards; Best Businessman of the Year Award; GQ Men of the Year Award; AIMA-JRD Tata Corporate Leadership Award; Bombay Management Association – Management Man of the Year Award; Qimpro Platinum Standard Award for Business; Ernst & Young Entrepreneur of the Year Award; Padma Bhushan; The Asian Awards Entrepreneur of the Year; All India Management Association-Business Leader of the Year Award; etc.

BACK TO THE SOCIETY

Through Godrej Group, Adi Godrej has substantially contributed to the society. In support of the World Wildlife Fund in India, the Group has developed a green business campus in the Vikhroli township of Mumbai. The township has a 1500 acre mangrove forest and a school for the children of company employees.

Contributions to the society in the form of healthcare, education and environmental sustainability initiatives are also made through the Pirojsha Godrej Foundation, the Soonabai Pirojsha Godrej Foundation and the Godrej Memorial Trust. The initiatives include The Mangroves, Teach for India, WWF, Smile Train and the Godrej Memorial Hospital among others.

INDIA’S FUTURE

Immensely optimistic and focusing only on the outcomes, smartly overcoming the challenges including the recent Demonetization and GST, Adi Godrej asserts that, “By 2050, I expect India to become the largest economy in the world by purchasing power parity.”

About GST, he says, “India has seen great economic reforms in the last 25 years and the economy has grown reasonably well. Most recently, GST, which is an outstanding reform that will boost consumption and help companies grow. Once GST is smooth, it will have a huge impact as GDP will go up, and all businesses will go up. Though the wholesale channel will have to change its ways of dealing with cash, I do not think there will be a problem. Actually, GST will add a lot of GDP growth to our economy going forward.”

He is very positive about the effects of demonetization also, especially elimination of black money, “Generally, black money has come down in the country after demonetisation, and after GST it will come down further. The days of black money are going away.”

Believing in reforms to improve situation in the economy, he shares, “India will do well and GDP rate will accelerate. Lot of reforms coming in and we have to make sure we leverage it properly as a Group. I am optimistic about the future for the country and the Group.”

Sharing his vision on Group’s growth, he says, “As a Group we are already in adequate number of lines of business. Expanding the number of lines of business is not going to be our objective but expanding respective businesses.

Dr. Christina Rahm is a true polymath, with a diverse educational background from Harvard University. She has a comprehensive understanding of areas as diverse as nanotechnology, pharmaceutical management, nutrition, education, and philosophy. She has fortified her intellectual pursuits with a Master of Science degree, while attaining a doctorate in Strategic Sciences from Charter University in December 2014.

MASTERING MULTIPLE DOMAINS

Dr. Rahm established DRC Ventures to cultivate a collaborative environment that transcends geographical and cultural boundaries. Through philanthropic foundations, beauty and fashion brands, influential platforms, and reputable organisations, DRC Ventures facilitates widespread access to medical, supplementary, and environmental services.

Under her astute leadership, DRC Ventures has emerged as a formidable powerhouse. Through strategic investments in pioneering start-ups that challenge conventions, she leads the company to actively nourish the advancement of groundbreaking technologies, services, and paradigms in the business sphere. DRC Ventures actively shares its invaluable insights and experiences through compelling content, industry conferences, and impactful speaking engagements.

Furthermore, she champions diversity and inclusion in entrepreneurship, acknowledging its potential to spur innovation and propel success. Under her guidance, DRC Ventures actively promotes underrepresented entrepreneurs, providing opportunities for women, minorities, and marginalised individuals, thus cultivating an inclusive culture that breaks down entry barriers within the start-up landscape.

A serial entrepreneur, Dr. Rahm has also achieved remarkable success with The ROOT Brands, an esteemed social sharing community platform, which has swiftly amassed a substantial following across over 60 countries. The platform facilitates connections and engagement among like-minded individuals.

THE UPHILL JOURNEY

Despite grappling with formidable health obstacles, including Lyme disease and multiple instances of cancer, Dr. Rahm has displayed a remarkable embodiment of fortitude and determination. Her indomitable spirit has not only allowed her to surmount these challenges, but also glean profound insights along the way. Furthermore, through extensive global travels and interactions with individuals from over 80 countries, she has amassed a vast reservoir of academic, professional, spiritual, emotional, and intuitive wisdom, instrumental in navigating the intricate stages of her health journey.

CREATING A POSITIVE IMPACT

Dr. Rahm’s dedication to philanthropic endeavours is deeply rooted in her upbringing, shaped by the values of generosity, compassion, and selflessness imparted by her grandparents and parents. They taught her that a life of privilege and abundance comes with a corresponding responsibility to give back to others. She believes that philanthropy is not merely an act of benevolence, but a moral imperative that lies at the core of our shared humanity.

Her involvement in the Rahm Foundation has allowed her to champion various causes, including the promotion of women’s rights and social, cultural, and academic empowerment programs. She is associated with the UN Women for Peace Association as a dedicated supporter. Additionally, as an ambassador to the European Women’s Association in the USA, she has demonstrated her passion for promoting tolerance and respect for women by advocating for access to education, freedom, and protection for women. She actively supports other foundations in Africa and South Africa. Through her contributions to organisations such as Korah Kids, Rudolph College, Grace Bible University, and The Treasured Foundation, she has helped to improve the lives of women and children in multiple countries, including Ghana, Kenya, Liberia, Nigeria, and Korah, Ethiopia.

Dr. Rahm’s dedication to advancing research and scientific institutions is truly remarkable. Through her tireless efforts, she has helped establish Medical School programs and Research Science Programs that have garnered significant acclaim and recognition. She has also been honoured with numerous awards, including Honorary Doctorate degrees and the naming of a building in her honour.

RACKING UP ACCOLADES

Dr. Rahm has received numerous accolades and awards for her contributions to the fields of product innovation, healthcare, and entrepreneurship. She was honoured with the “Network-Karriere for Product Innovation Award in 2018,” and her products were recognised as the best in the MLM industry by the “European Award for Best Products” that same year. In 2014, she was recognised as a Healthcare Hero Judge and awarded the “Nashville Healthcare Hero Award.” She has also been a finalist for the “NEXT Awards” and was named the “Enterprising Women of the Year Winner in 2012.” In addition, she has been recognised as a “Top Entrepreneur by Business Leader and was named the #1 Specialty Pharmaceutical Representative in the Nation in 1998.” She has played a key role in healthcare innovation, having been involved in ventures such as DC2 Holdings, NOC2 Healthcare, and Clinical Care Continuum (C3), which seeks to revolutionise medical research and care.

Dr. Rahm is also a prolific author with numerous published books. Her notable works include Cure The Causes and her latest publication, Cure the Causes Cookbook, both of which cover topics such as nutrition and the environment. Furthermore, her oratory skills have made her a highly sought-after speaker, captivating audiences with her inspirational and motivational speeches. Her profound wisdom, infused with practicality and universal understanding, make her a relatable figure who resonates with individuals from all walks of life.

THE MIDAS TOUCH

Sheikh Ahmed is the Chairman of Dubai Airports, President of Dubai Civil Aviation Authority, Chairman and CEO of Emirates Group comprising Emirates Airline and dnata. He launched Emirates as the world’s fastest growing international carrier with a fleet of more than 150 aircraft covering over 100 destinations across six continents. The airline has achieved a rare feat of recording impressive profit figures for 25 straight years. dnata is one of the largest combined air service providers in the world, serving over 300 airlines in 35 countries with efficient cargo and ground handling, catering and travel services, effectively transforming Dubai from an attractive global tourist destination with a mix of leisure and luxury to the world’s most promising global aviation and logistics
hub.

VISIONS OF THE TYCOON

Taking into account Dubai’s strategic proximity to Europe, Africa and Asia, Sheikh Ahmed identified aviation industry as the main growth engine potentially driving Dubai’s economy as a global center for trade, commerce and tourism.
Aviation sector today accounts for over 17% of Dubai’s total workforce and Sheikh Ahmed, the Two-time flag-bearer for the UAE at the Olympics, is credited with numerous landmark achievements that the world has watched with bated breath. He has been instrumental in developing Dubai International as the world’s fourth busiest airport for international passenger and cargo traffic with a network of over 220 destinations served by more than 150 airlines and launched flydubai that emerged as the second largest contributor to air traffic at Dubai International covering more than 45 destinations with over 820 flights a week. Several ambitious projects including launch of Dubai International’s Terminal 3 in 2008, Dubai Duty Free recording one of the biggest single airport retail operations in the world in terms of turnover with revenues of US$1.46 billion in 2011, opening up of Concourse A in 2013, intended to accommodate 90 million passengers at Dubai International were undertaken by him. Sheikh Ahmed is actively engaged in charitable work alongside holding a number of government positions and playing an increasingly pivotal role as the Chairman of Emirates NBD, Dubai’s largest bank and Chairman of Dubai World, the conglomerate that includes

the world’s third-biggest ports company, DP World. Sheikh Ahmed is also the Chairman of Alliance Insurance Company, The British University in Dubai, The Dubai Power & Energy Committee, Wasl Hospitality, Noor Investment Group and Noor Takaful.

CAPTURING GLOBAL ATTENTION

Sheikh Ahmed, the face of the aviation industry in Dubai, has also received several international honors including the Legion of Honor, the highest French Civilian Award, Verfassungsportugaleser, one of Germany’s highest honors for outstanding services to the City of Hamburg and special recognition by the Royal Aeronautical Society, UK. In 2013, he was presented with an honorary Degree of Doctor of Science from City University, London – Cass Business School, in recognition of his outstanding leadership skills in aviation, entrepreneurship, banking and finance sectors in the UAE.

TAKE THE WORLD IN YOUR STRIDES

The man who put Dubai on the global aviation map envisions the upcoming Dubai Expo 2020, as a big time opportunity to mark an up cycle trend in aviation with an expected 70 million passengers flying on about 300 aircrafts while keeping an eye on alleviating congested airspace in the Middle East with air traffic management solutions sewn into the system.

Trump has consistently received backlash for his populist, protectionist, and nationalist policies, by the world liberals. He has even been polled as the least popular US President in the history of modern opinion polls. His lack of experience in administration and politics has gone heavily against him. Figures have always spoken badly for him. While 64% rated for Barack Obama that they had confidence in him to do the right thing when it came to international affairs, only 22% showed confidence in Trump on same parameters. Actually, majority of voters have shown low opinions of his character and competence.

However, the question is: has this affected Trump? Not really, as he has continued with his policies, statements and ideas as if oblivious of any critic’s or opponent’s existence. It has definitely given him an advantage too; he is able to show he has done something, as consistent focus on corrections, he has been able to deliver finally.

Actually, his wins are more than his losses, in any field, be it business, politics or his personal life. He has managed his business well, and according to March 2018 estimates by Forbes magazine, he is the world’s 766th richest person with a net worth of US$3.1 billion. He has co-authored several books, including The Art of the Deal. He owned the Miss Universe and Miss USA beauty pageants from 1996 to 2015, and he produced and hosted the reality television show The Apprentice from 2003 to 2015.

POPULIST & PROTECTIONIST

Trump’s win of the US President’s election wasn’t easy, as he entered the 2016 presidential race as a Republican; however, he defeated sixteen opponents in the primaries. His political positions as populist, protectionist, and nationalist were severely criticised on media, but finally these very positions helped him seal the deal. He was even accused of making false public statements in his campaign; however, the final result was that he was elected president in a surprise victory over Democratic nominee Hillary Clinton, as he became the oldest and the wealthiest person ever to assume the presidency, the first without prior military or government service, and the fifth to have won the election while losing the popular vote. His election and policies have sparked numerous protests.

During his presidency, Trump ordered a travel ban on citizens from several Muslim-majority countries, citing security concerns; a revised version of the ban was implemented after legal challenges. He signed tax cut legislation, rescinded the individual insurance mandate provision of the Affordable Care Act, and opened the Arctic Refuge for oil drilling. He enacted a partial repeal of the Dodd-Frank Act that had imposed stricter constraints on banks in the aftermath of the 2008 financial crisis. In foreign policy, he pursued his America First agenda: he withdrew the U.S. from the Trans-Pacific Partnership trade negotiations, the Paris Agreement on climate change, and the Iran nuclear deal. He recognized Jerusalem as the capital of Israel. He imposed import tariffs on various goods from China, Canada, Mexico and the European Union.

After Trump dismissed FBI Director James Comey, the Justice Department appointed Robert Mueller as Special Counsel to investigate coordination or links between the Trump campaign and the Russian government in its election interference. Trump has repeatedly denied accusations of collusion and obstruction of justice, calling the investigation a politically motivated witch hunt.

EARLY LIFE AND EDUCATION

Trump’s ancestors originated from the German village of Kallstadt in the Palatinate on his father’s side, and from the Outer Hebridesin Scotland on his mother’s side. All of his grandparents and his mother were born in Europe.

Trump’s paternal grandfather, Friedrich Trump, first immigrated to the United States in 1885 at the age of 16 and became a citizen in 1892. He amassed a fortune operating boom-town restaurants and boarding houses in the Seattle area and the Klondike region of Canada during its gold rush. On a visit to Kallstadt, he met Elisabeth Christ and married her in 1902. The couple permanently settled in New York in 1905. Frederick died from influenza during the 1918 pandemic.

Trump’s father Fred was born in 1905 in The Bronx. Fred started working with his mother in real estate when he was 15, shortly after his father’s death. Their company, “E. Trump & Son”, founded in 1923, was primarily active in the New York boroughs of Queens and Brooklyn. Fred eventually built and sold thousands of houses, barracks, and apartments. The company was later renamed The Trump Organization, after Donald Trump took charge in 1971.

Trump grew up in Jamaica, Queens, and attended the Kew-Forest School from kindergarten through seventh grade. At age 13, he was enrolled in the New York Military Academy, a private boarding school, after his parents discovered that he had made frequent trips into Manhattan without their permission.

In 1964, Trump enrolled at Fordham University. After two years, he transferred to the Wharton School of the University of Pennsylvania. While at Wharton, he worked at the family business, Elizabeth Trump & Son. He graduated in May 1968 with a Bachelor of Science in economics.

Trump did not serve in the military during the Vietnam War. While in college from 1964 to 1968, he obtained four student deferments. In 1966, he was deemed fit for service based upon a military medical examination and in July 1968, after graduating from college, was briefly classified as eligible to serve by a local draft board. In October 1968, he was classified as 1-Y, “unqualified for duty except in the case of a national emergency,” and given a medical deferment which he later attributed to heel spurs; in 1972, the medical deferment was changed to 4-F, “not qualified for service.” In the draft lottery in December 1969, Trump’s birthday, June 15, received a high number which would have given him a low probability to be called to military service even without the 1-Y medical deferment.

The Donald J. Trump Foundation is a U.S.-based private foundation that was established in 1988 for the initial purpose of giving away proceeds from the book Trump: The Art of the Deal.

The Foundation has given to healthcare and sports related charities, as well as conservative groups. It gave $926,750 to about 40 groups, with the biggest donations going to the Arnold Palmer Medical Center Foundation, the New York–Presbyterian Hospital, the Police Athletic League, and the Clinton Foundation.

The President of the US is not the most powerful person in the world because of his personality. He is the most powerful because of the authority he holds and the decisions he can make. Trump has a lot to prove to offset his bad decisions and statements. He has to pull his act together and take the right policy decisions, which are in the best interest of not only his own country, but also in the larger interest of the world.

CARRYING FORWARD THE LEGACY OF EXCELLENCE

All dreams are made of a magical concoction whose ingredients comprise passion, grit and an insurmountable determination to work hard and win against all odds. Sajjan Jindal inherited this magical concoction and chiseling his dreams, developed one of India’s leading business houses, with a workforce of over 40,000. Diversifying his Group gradually to master other verticals, he forayed into cement, infrastructure, energy and so on, with a dream to help build a new nation. Leading India’s largest private steel producer, Sajjan Jindal has displayed mettle of steel as he has guided JSW Steel through the strategic tie-up with the world’s sixth-largest and Japan’s second largest steel producer JFE Steel.

Son of the Indian businessman and parliamentarian, Om Prakash Jindal and India’s richest woman, Savitri Jindal, Sajjan Jindal belongs to the highly revered Jindal family and the JSW Group, whose net worth is USD 13 billion.

He and his brothers, Prithviraj, Ratan and Naveen, each run their own businesses that were primarily inherited from their father. Married to Sangita Jindal, who is the Chairperson of JSW Foundation, they have two daughters, Tarini and Tanvi, and a son, Parth. He holds B.E. in Mechanical Engineering from M S Ramaiah Institute of Technology, Bangalore being affiliated from Visvesvaraya Technological University, Belgaum, Karnataka. Joining the family business right after his graduation, he moved to Mumbai to look after the western region operations of O.P. Jindal Group in 1983. He promoted Jindal Iron and Steel Company Ltd. (JISCO), for manufacturing of Cold Rolled and Galvanized Sheet Products in 1989, promoted Jindal Vijaynagar Steel Ltd. (JVSL), JSW Energy Ltd. (JSWEL), Jindal Praxiar Oxygen Ltd. (JPOCL) and Vijaynagar Minerals Private Ltd. (VMPL) to ensure complete integration of the manufacturing progress in 1995. In 2005, he merged JISCO and JVSL to form JSW Steel; their holdings group has the same name, JSW.

HELPING INDIA GROW

Commanding one of India’s fastest growing conglomerates, JSW Group which is a USD 13 billion company and an integral part of the O. P. Jindal Group, Sajjan Jindal has developed some of the major projects in India and has played a key role in nation building. He asserts, “We pursue growth zealously. In the face of all challenges, the most effective way to overcome them was to grow. Faster than the market, bigger than the competition.” Guiding JSW to become one of India’s top business houses, his innovative and sustainable ideas have helped all verticals of the Group: Steel, Energy, Cement and Infrastructure. Believing in creating values of the highest order, he has invariably focused on creating superior strength of products & services, a differentiated product mix, state-of-the-art technology, and then excellence in execution and focus on sustainability for assured success and growth. Like all great leaders, he too initiated with small steps and a humble beginning in the steel sector of India; however, with consistent efforts guided his Group to expand its presence across India, South America, South Africa and Europe.

DESERVING RECOGNITIONS & RESPONSIBILITIES

He has received the Willy Korf/Ken Iverson Steel Vision Award for his contribution to the steel industry, the ‘Outstanding Business Leader of the Year Award’ at the 14th edition of the CNBC IBLA 2019 Awards, the Outstanding Business Leader of the year 2018 award, CEO of the Year award, JRD Tata Award for Excellence in Corporate Leadership in Metallurgical industry, National Metallurgist Award in Industry category instituted by the Ministry of Steel, Government of India, Best CEO award, and several other prestigious national and international awards. An ex President of the Associated Chamber of Commerce and Industry of India (ASSOCHAM), he is a renowned and respected practitioner of sustainable business practices.

Melinda Gates has come far off from just being the wife of Microsoft Founder Bill Gates. Ms. Gates is a social activist and philanthropist by nature. With the establishment of the Bill & Melinda Gates Foundation, Ms. Gates aims at giving a suitable platform to people around the world to help them achieve their dreams. Whether it is the poor health of the person associating with the organization or it is his/her social, economic, or educational requirement, she has specific models designed for people with specific needs.

IMPROVING LIFESTYLES

Under her leadership, the Foundation takes care of even the minutest details that can add to the quality of life of the people who collaborate with it. Melinda Gates aims at igniting the cognitive and conative aspects of humans across the globe. Under her strict supervision and direct guidance, the Foundation takes every possible measure to improve the health status and living conditions of the underprivileged people besides ensuring their wellbeing.

From providing underprivileged masses with basic and advanced financial tools to making the farmers learn the best ways of increasing production, the foundation takes care of every requirement of a common man.

EMPOWERING THE FUTURE GENERATION

Ms. Gates is also committed to revolutionizing the educational scenario in the USA. She is well aware that students are the future of tomorrow; hence, through the Foundation, she ensures enhancing the college completion rates of students so that the literacy rates are higher and useful for the world as well as its inhabitants. What’s more, through the Gates Millennium Scholars Program, she helps students fund their higher studies.

A RESULT-ORIENTED PERSONALITY

While most of the charitable organizations look at the individuals with respect to the issues they face, the Gates foundation is a bit different. Melinda Gates focuses on individuals and not on issues. She emphasizes the measurement of how effective the strategies have been in improving the quality of life of each individual. Her result-oriented nature is far beyond numbers and figures. It is about the intensity of smiles that it brings across.

Being co-chair with her husband, Ms. Gates takes the responsibility of setting the goals and providing valid direction to the working of the Foundation. She has always remained active whenever it is about women and children. She puts a strong emphasis on crucial aspects like maternal and child health while helping individuals understand the importance of family planning in a better way. Under her guidance, the Foundation provides life-saving vaccines, effective medicines, and advanced diagnostics to those who need it the most.

The user-specific models that are designed to ensure proper maintenance of global health and development are the consequences of Ms. Gates’ vision of treating every individual equally and giving adequate attention to their special needs.

Mr. and Ms. Gates’ initiative is not confined to any particular nation. The organization has its branches all across the globe, including Africa, Europe, India, China, and the Middle East, so that the people worldwide get a chance to associate with it. For her association with India, Melinda Gates was honored with Padma Bhushan, the third-highest civilian award of the nation, for her ‘distinguished service of a high order’ in 2015.

TRANSFORMING THE WORLD

Believing that the path out of poverty begins when the next generation can access quality healthcare and a great education, she has been impactfully working in developing countries, focusing on improving people’s health and wellbeing, and helping individuals lift themselves out of hunger and extreme poverty. She seeks to ensure that all people – especially those with the fewest resources – can access the opportunities they need to succeed in school and life.

Ms. Gates has been actively offering people tools to lead healthy and productive lives, helping them lift themselves out of poverty.

Through her Foundation, she has helped people adopt new farming technologies, invest in new business opportunities, or find new jobs.

She feels that women and girls have a unique power to reshape societies, and when one invests in a woman’s health and empowerment, it has a ripple effect, helping families, communities, and countries achieve long-lasting benefits.

The youngest leader of the United Kingdom in two centuries, most importantly its first prime minister of South Asian heritage and a Hindu, Rishi Sunak says that accepting the role of UK PM was his dharma – “about doing the things that were expected of you and trying to do the right thing.” The Conservative leader is well versed in economics, and UK citizens appreciated his role as the finance minister, and at this moment of the financial crisis, he is an excellent choice to manage the country’s economy and make a stunning comeback. As the Prime Minister of the UK Rishi has to tame soaring inflation, make the sluggish UK economy grow, ease pressure on its overburdened healthcare system, and “restore the integrity back into politics”.

What it takes to make the cut is right decisions and risk taking ability, which the 42-year-old world leader is known for. He quit a dream career as an investment banker in Goldman Sachs to go for an MBA and then employment. He also knew that following his faith publically may make him a target for western media, but did not change his stand. He has always stood up for what he thought to be correct. He took a stand for his traditional and religious values, and was strong and determined about his economic policies and ideas.

HUMBLE ROOTS, GREAT EDUCATION

Rishi Sunak was born in Southampton on May 12, 1980, to Indian immigrants, with roots in Punjab and East Africa. They met and married after their families migrated in the 1960s to Southampton in southern England. Rishi’s father became a general practitioner for the National Health Service. His mother, a pharmacist, owned and operated a small pharmacy, for which Rishi, the eldest of their three children, would eventually keep the books. Later, during his political career, he would underline this fact to relate his experiences working in the family business and the values he gained from them with those of Conservative Party idol Margaret Thatcher, who was the daughter of a grocer.

Rishi was fortunate to embark on a path travelled by the most privileged in society. He grew up watching his parents serve the local Indian community, and wanted to make that same positive difference to people as their Member of Parliament. He was first elected to the UK parliament in 2015 and was re-elected in 2017 and 2019. A game-changer in his life was good education. Rishi’s parents worked hard to give their children the best of education. Their sacrifices enabled him to attend private school at Winchester College, where he became the head boy. He went on to study philosophy, politics, and economics at Lincoln College, Oxford, where he was president of the Oxford Trading and Investment Society that helped students with opportunities to learn about financial markets and global trading. While at Oxford, Rishi also had an internship at the headquarters of the Conservative Party. During his student life, he volunteered his time to education programmes that unfolded opportunities. In his summer vacations, he also waited tables at a Southampton Indian restaurant. Today, as a politician, he aims to ensure that every individual gets the benefit of good education.

After graduating from Oxford in 2001, Rishi became an analyst for Goldman Sachs and worked for the investment banking company until 2004. He quit the job and pursued an MBA at Stanford University as a Fulbright scholar. At the Stanford University, he met his future wife, Akshata Murthy, daughter of the Indian billionaire and cofounder of technology giant Infosys, Narayana Murthy. After Stanford, he began a successful business career that included stints at Goldman Sachs and as a hedge fund manager.

In a successful business career, Rishi co-founded a large investment firm, working with companies from Silicon Valley in the US to Bengaluru in India. He used this experience to help small and entrepreneurial UK companies grow successfully. From working in his mother’s small chemist shop to building large businesses, he realised how policies could support free enterprise and innovation to ensure future growth.

MAKING OF A WORLD LEADER

By the time Rishi switched to politics in his early 30s, he was already wealthy on his own. In 2010, he began working for the Conservative Party. During this period, he also became involved with Policy Exchange, a leading Conservative think tank, for which he became head of the Black and Minority Ethnic (BME) Research Unit in 2014. In the same year, he was chosen as the Conservative Party’s candidate for the House of Commons from Richmond in North Yorkshire, a safe Conservative seat in the north of England long represented by one-time party leader William Hague.

In his first speech in the UK Parliament, Rishi shared a story from the days of his first campaign. It is about a farmer in Yorkshire who remarked, when Rishi was introduced to him as “the New William Hague”. “Ah yes Haguey! Good bloke. I like him. Bit pale, though. This one’s got a nice tan.” William Hague himself praises him as “down to earth – a non-ideological Conservative”.

In May 2015, Rishi was elected by a commanding majority to the Parliament from Richmond, North Yorkshire, a seat he still holds. He joined the “leave” camp on the issue of Brexit, which he said would make the United Kingdom “freer, fairer, and more prosperous.” He was re-elected to Parliament in 2017 and 2019, and he voted three times in favour of Prime Minister Theresa May’s Brexit plans. In January 2018, he entered Government service as the Minister for Local Government, became Chief Secretary to the Treasury in July 2019, and was appointed Chancellor of the Exchequer in February 2020 and stayed on this position till July 2022.

Almost immediately after becoming the Chancellor of the Exchequer, Rishi faced the challenges posed by the onset of the COVID-19 global pandemic. As the British economy was clobbered by the shutdowns to stem the spread of the virus, his office tried to offset about £330 billion ($400 billion) in emergency funds for businesses and salary subsidies for workers to retain talent and ease the burden of the lockdown on people and businesses. His rescue programs became widely popular, helping him become a welcome face of the government at daily media briefings.

MAN OF THE MOMENT

Rishi Sunak resigned from the cabinet on July 5, 2022, and declared his intention to replace then UK PM Boris Johnson as leader. He lost to Foreign Secretary Liz Truss for the top job, which she could not sustain beyond 45 days, and paved the way for Rishi to become the first person of colour and first Hindu to lead Britain.

The journey as the UK PM so far has been a mixed bag for Rishi, but he is doing better than his predecessors, say observers. “Since Sunak has taken over, the polls have stabilised and the Labour lead has narrowed…,” said British polling agency YouGov on his 100 days in the office. On his personal rating, the agency assessed, “The Prime Minister’s personal favourability rating is comparatively better than those of his predecessors, sitting at -29 compared to Boris Johnson’s final score of -40 and Truss’s rock bottom -70.”

A senior Indian businessman and philanthropist known for his significant contributions to the pharmaceutical industry, Dr. Cyrus S. Poonawalla is the Founder and Chairman of the Pune-based Serum Institute of India, one of the world’s largest vaccine manufacturers. His success story and leadership style are inspiring examples of entrepreneurship and philanthropy. Passionate about making the cheapest vaccines for the underprivileged people of the world, he exports his products to 100 different countries

BY JYOTI VERMA

Arevolutionary leader who transformed medicine in India, Dr. Cyrus S. Poonawalla not only helped India become self-reliant decades ago by manufacturing vaccines at affordable prices, but also empowered the country to serve many countries across the globe. Today, his company, Poonawalla Group includes the privately owned Serum Institute of India (SII), India’s top biotech company and the world’s largest vaccine manufacturer by number of doses produced and sold globally (more than 1.3 billion doses). Dr. Poonawalla’s strong belief in “No Compromise with Quality” and willful commitment in “Health for All with Affordable Vaccines” has today lead SII to earn the title. It is estimated that about 65%

of the children in the world receive at least one vaccine manufactured by the Pune-based company. Notably, the SII supplied the measles vaccine to UNICEF and PAHO (Pan American Health Organization) from 1990 to 2016, preventing an estimated 22 million deaths.

Headquartered in Pune, India, the Cyrus Poonawalla Group of Companies is a diversified group with business interests that include pharmaceuticals and biotechnology, finance, clean energy, hospitality and realty and aviation with the emphasis on quality, innovation, dedication, and customer support.

BEGINNING OF A GLORIOUS JOURNEY

Dr. Poonawalla hails from a traditional Parsi family of Maharashtra. He started SII in 1966 because he wanted to diversify away from horse breeding. His family owns India’s largest stud farm—the Poonawalla Stud Farms— that was set up in 1946. Their horses have won many classics. A chance meeting with a veterinary doctor led the leader into vaccines. Then, the farm’s retired horses were donated to government-owned Haffkine Institute in Mumbai, which made vaccines from horse serum. Dr. Poonawalla soon decided to extract the serum from horses and produce vaccines on a mass scale. Horse serum is used for creating vaccines for diphtheria, tetanus and scarlet fever.

Dr. Poonawalla began with a small laboratory in a corner of his stud farm. The first vaccine produced was for Tetanus Antitoxin in 1967. The major breakthrough came in the mid- 1980s when he got pre-qualified or accredited for supplying vaccines to the United Nation agencies. Thereafter, there was a meteoric rise for the company, Dr. Poonawalla said in an interview. Gradually, the SII produced a range of vaccines for DTP, measles, and snake-venom, to name a few, and became India’s largest manufacturer of vaccines in just one year. By 1998, SII was exporting its vaccines across the world and almost every second child in the world was vaccinated by one of its vaccines.

A LEADER PAR EXCELLENCE

Dr. Poonawalla’s leadership style is a blend of vision, innovation, social consciousness, and a commitment to making a positive impact on the world. His visionary thinking allowed him to anticipate future needs in the healthcare sector and invest in innovative solutions. He foresaw the demand for vaccines and positioned his company to be a global leader in vaccine production. His commitment to research and development led to the creation of effective and affordable vaccines. He encouraged innovation within his organisation and consistently sought ways to improve and expand their product portfolio.

Dr. Poonawalla was not afraid to take calculated risks. He invested significant resources into expanding his company’s manufacturing capabilities and increasing production capacity, even when faced with uncertainties. His global outlook allowed him to understand the broader healthcare challenges faced by various countries. This perspective enabled him to produce vaccines that addressed the needs of diverse populations.

“DR. CYRUS S. POONAWALLA IS PASSIONATE ABOUT MAKING THE CHEAPEST VACCINES FOR THE UNDERPRIVILEGED PEOPLE OF THE WORLD. HE BELIEVES THAT GETTING MONEY IS NOT ALL A MAN’S BUSINESS. TO CULTIVATE KINDNESS IS A VALUABLE PART OF THE BUSINESS OF LIFE“

DEDICATED TO PHILANTHROPY

Dr. Poonawalla takes equal pride in his philanthropic policies. He is passionate about making the cheapest vaccines for the underprivileged people of the world. He believes that getting money is not all a man’s business. To cultivate kindness is a valuable part of the business of life. He has followed this philosophy since beginning. He has worked with the United Nations. He exports his products to 100 different countries.

This list of Dr. Poonawalla’s humanitarian work towards his society is unending. He not only made his immense contribution through his institute, but also advanced to help the country in the sector of education and infrastructure. He has opened schools, gave funds for the construction of roads, highways, parks and rehabilitation centre for leprosy and handicapped people. He is also an Executive Council Member of Poona District Leprosy Committee, which is a charitable trust. He provided donations to organisations working towards a better future of the people as well.

To improve the lives of people of Pune, he also participated in Confederation of Indian Industries’ Program of “Zero Load Shedding” by Captive Power Generation by Private Companies. In addition, Dr. Poonawalla also organises free rubella immunisation camps for the girls of slum areas in collaboration with Rotary International.