Tale of two titans: L N Mittal and Warren Buffett

Which is the greatest virtue, to give or to conquer? To conquer the steel empire or to conquer millions of hearts? I suppose only time will tell. But the 3rd week of June 2006, will definitely go down in history as the week that saw two men from the business world conquer different summits. One claimed the prized possession of Arcelor, the 2nd largest producer of steel for a whooping $ 33.6 billion and the other donates a mind boggling $ 37 billion to charity!

So what is it that drives men? Actually, what is it that drives all of us? We seem to be caught in this end less rat race always wanting more. Bigger salaries, bigger cars, bigger hotels, bigger houses, heck even bigger burgers and milkshakes. What about bigger hearts, folks?

No. Not for a moment am I suggesting that what Mr. Mittal has achieved is insignificant or even inconsequential. In fact, his achievement has heralded to the world the arrival of the Indian flavor. The last five odd months, I ‘m sure must have been very anxious times for the Mittals. Everything from racial bias, to bringing in a different work culture has been hurled at them. Yet they have come out strong to climb the summit.

What is also impressive about Mr. Mittal is his vision. His group today has diversified from its core business into shipping, coal, power and oil enterprises. It also said that Mr. Mittal has an uncanny knack of identifying sick steel companies and turning them into gold! His zeal to conquer the steel empire is so intense that he now owns 12 giant-sized steel plants stretching from Canada to Trinidad & Tobago to Kazakhstan and Indonesia.

On the other hand, there is Mr. Buffett who made his billions from investments. He too shared this uncanny ability to spot investment opportunities. He picked up major stake in undervalued companies such as American Express, Coca-Cola, The Washington Post and Gillette. This Omaha born wizard is believed to have made his first investment at the age of 11. Phew! Most people at that age wouldn’t even know the difference between stock and stock.

In spite, of his acumen, this “Oracle of Omaha” is better known for this philanthropy. He has dished out millions, sorry now, billions towards charity. For many this could be perplexing. During the day, he makes billions and then in the evening dishes them out to the needy. It takes a man with big heart to be so magnanimous.

A big heart or nerves of steel, we all have our drives, to achieve our ever elusive goals. And then eventually, when we realize the true value of what are or what we have, I suppose that’s when we take the call. This cycle will continue as long as man exists.

About prashramamurthy

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