There’s a nice story in today’s Hindustan Times on the personal investments made by the mega-rich IT chiefs.
Azim Premji has reportedly invested in JM Financial and Himatsinghka Seide, and is eyeing a 26 per cent stake in Devi Shetty‘s Narayana Hrudayalaya in Bangalore.
Nandan Nilekani has bought 1 per cent of Asian Paints. Jerry Rao, as befits somebody who waxes eloquent on Vidyarthi Bhavan, has bought a bit of Grover Vineyards. Satyam’s Ramalinga Raju has got into some properties and construction businesses.
Is it just a case of familiarity breeding contempt, or is it foresight and inside knowledge that prevents them from investing in the IT business?
Diversification? Not putting all eggs in one basket? Premji owns 70+% of Wipro – which means he has millions of dollars invested in Wipro alone. Nandan owns 5-10% of Infosys – again millions of dollars. I am sure it is the same with Jerry Rao and Raju too. So, when they already have so much invested in IT, nothing wrong if they want to invest some in other areas. I am sure despite all these investments in Asian Paints and vineries or whatever, their most significant investment will still be in IT. Now, if they had sold all their IT stocks and invested all that money in non-IT stocks, you might have a case. But till then, asking why aren’t they investing in IT, when they so clearly have such huge investments in IT, is meaningless.
Maadli bidu Guru ..Nanna hatra ninna hatra aytha aapati duddu…
nanna hattira illa aMta ninage hEge gottu ? nAna nammUrige sAvkAra….
The rumour is Infosys is starting a university to meet growing need for IT professionals, may be in Mysore!
Evarella athi buddhivantaru
Who is this Jerry Rao- looking at the strange/ novel name must be someone from the BPO industry??!! Anyway the name is funny and curious- will someone tell me please
Batthini