I don’t want my kids to be my heirs
Apr 2, 2014 1:17:39 GMT -8
sandidi, svetlana, and 1 more like this
Post by Kiran01 on Apr 2, 2014 1:17:39 GMT -8
I don’t want my kids to be my heirs
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India’s richest celebrity Shah Rukh Khan tells ETPanache that he isn’t building his business empire for Aryan, Suhana and AbRam
b y SHRADHA SUKUMARAN
There’s a toy robot on the floor of the library at Mannat. This is actor-entrepreneur Shah Rukh Khan’s man cave at home, a space where India’s richest celebrity holds his business meetings to strategise on his 400-crore grossing films as well as IPL team Kolkata Knight Riders. There is enough evidence that Shah Rukh Khan takes himself lightly, even while he opens up to ETPanache on his work mantras, leaving behind an inheritance to his three children and the whole business of life.
What was your first brush with business
I’m an economics graduate, but I’ve never had a sense of business. I’m from a family that did many businesses and failed at them.
What were those businesses?
My father (Taj Mohammed Khan) designed the first Diplomat whisky bottle. Then he designed furniture and the then-President of India inaugurated his store. After that he went into the transport business in Tharu, Haryana. He was too honest and straightforward; his partners ending up owning most of the businesses and left him high and dry.
Then he became a freedom fighter. And finally, I saw this great, upright man, who fought for our independence, run this small 4x4 ft. tea kiosk behind (Dr Ram Manohar Lohia) Wellington hospital in Delhi. He sold tea at the National School of Drama mess. I remember fine actors like Raj Babbar and Ajit Vachani, who were studying at NSD, lending him a hand. After he died, my mother (Shah Nawaz Khan) applied for an oil wholesaling agency, which she was granted because he was a freedom fighter. It was a no-brainer, trading business that grew. We had 18 tankers a day, but the transporters corrupted our consignments. We won the case in the Patiala court, but after my mother died (1990), I gave the business up.
What are the lessons you’ve learnt?
I saw a lot of failure; sometimes, it was handto-mouth. The lessons I learnt were through my parents. They spent all that they earned to educate us. To be successful, you have to be educated — perhaps not like me, from St Columba’s School, Hansraj College or Mass Communications at Jamia Millia. Yet any education is important. Steve Jobs may have dropped out, but he was educated and even Bill Gates sat somewhere at night, working on programs.
Secondly, you need to be patient and upright. People offer me huge amounts of money, but I’ve never done fly-by-night operations. I’m a Muslim so I don’t believe in interest. I’m not in the lending business. If I have extra money and can help friends, I’ll give it but I don’t want interest when they pay me back. I don’t borrow; I use my own money. You have to be honest, even in the creative business. I’m not giving you a spiel or being Utopian about it. I believe it.
What is your strategy?
I only do businesses that turn me on. I love movies so I produce them. I love kids, so I promote Kidzania. Sport turns me on so there’s IPL and Inshallah, football. New businesses excite me. I recently decided to buy the negatives of my films that flopped. The makers of my hits won’t give me those negatives, so I want my flops.
My CEO (Venky Mysore) told me it’s a losing proposition. “Why are you wasting money? Invest in property.” But I want it for my kids. I’ve got Chaahat (1996) and I want Oh Darling Yeh Hai India (1995) and English Babu Desi Mem (1996). What’s your plan with regard to football?
It’s a wonderful proposition. I believe that the IMG-Reliance auction is on. I’ll speak to Mukeshbhai (Ambani). If I have the resources, I’d love to own a Kolkata club. This is a personal desire, not business. I like soccer; my son (Aryan) and I play it and I’m good at FIFA video games.
Do you find numbers interesting?
Not at all, except my position, which is Number One (laughs). I hate numbers. I can’t even remember telephone numbers.
Didn’t you top at mathematics?
No, I did statistics very well. I got 88 in math because I could add well. I rattoed my answers and I would teach my children until they were in Class 7 but after that, poof, I have no head for numbers. I’ve realised that what works for me in business is that I look good in a suit. I look corporate.
As the head of the company, do you take the final call?
We make decisions as a team, but I help make that call. Fifty per cent of the time, it’s been the right decision. I also get more credit than I should. You see, I’m Shah Rukh Khan… (laughs) Sorry, that
Have you made business decisions
based on emotions?
Most of them are emotional. I went to the Tata head and told him that I want a Starbucks in my office building because my daughter likes the coffee. Red Chillies VFX is my pet project. It’s expensive and technology gets obsolete so fast. I’ve stuck by it – even though other VFX companies are shutting down – only because it will enhance our film experience. There’s that old mafia line, ‘Nothing personal, it’s only business.’ But honest to god, it’s always been personal to me. I’ve only ever strived to be an actor. I don’t go to my office and I don’t have a cabin in there. My office is my set.
shradha.sukumaran@timesgroup.com
epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=ETNEW&BaseHref=ETM/2014/04/02&PageLabel=25&EntityId=Ar02400&ViewMode=HTML
India’s richest celebrity Shah Rukh Khan tells ETPanache that he isn’t building his business empire for Aryan, Suhana and AbRam
b y SHRADHA SUKUMARAN
There’s a toy robot on the floor of the library at Mannat. This is actor-entrepreneur Shah Rukh Khan’s man cave at home, a space where India’s richest celebrity holds his business meetings to strategise on his 400-crore grossing films as well as IPL team Kolkata Knight Riders. There is enough evidence that Shah Rukh Khan takes himself lightly, even while he opens up to ETPanache on his work mantras, leaving behind an inheritance to his three children and the whole business of life.
What was your first brush with business
I’m an economics graduate, but I’ve never had a sense of business. I’m from a family that did many businesses and failed at them.
What were those businesses?
My father (Taj Mohammed Khan) designed the first Diplomat whisky bottle. Then he designed furniture and the then-President of India inaugurated his store. After that he went into the transport business in Tharu, Haryana. He was too honest and straightforward; his partners ending up owning most of the businesses and left him high and dry.
Then he became a freedom fighter. And finally, I saw this great, upright man, who fought for our independence, run this small 4x4 ft. tea kiosk behind (Dr Ram Manohar Lohia) Wellington hospital in Delhi. He sold tea at the National School of Drama mess. I remember fine actors like Raj Babbar and Ajit Vachani, who were studying at NSD, lending him a hand. After he died, my mother (Shah Nawaz Khan) applied for an oil wholesaling agency, which she was granted because he was a freedom fighter. It was a no-brainer, trading business that grew. We had 18 tankers a day, but the transporters corrupted our consignments. We won the case in the Patiala court, but after my mother died (1990), I gave the business up.
What are the lessons you’ve learnt?
I saw a lot of failure; sometimes, it was handto-mouth. The lessons I learnt were through my parents. They spent all that they earned to educate us. To be successful, you have to be educated — perhaps not like me, from St Columba’s School, Hansraj College or Mass Communications at Jamia Millia. Yet any education is important. Steve Jobs may have dropped out, but he was educated and even Bill Gates sat somewhere at night, working on programs.
Secondly, you need to be patient and upright. People offer me huge amounts of money, but I’ve never done fly-by-night operations. I’m a Muslim so I don’t believe in interest. I’m not in the lending business. If I have extra money and can help friends, I’ll give it but I don’t want interest when they pay me back. I don’t borrow; I use my own money. You have to be honest, even in the creative business. I’m not giving you a spiel or being Utopian about it. I believe it.
What is your strategy?
I only do businesses that turn me on. I love movies so I produce them. I love kids, so I promote Kidzania. Sport turns me on so there’s IPL and Inshallah, football. New businesses excite me. I recently decided to buy the negatives of my films that flopped. The makers of my hits won’t give me those negatives, so I want my flops.
My CEO (Venky Mysore) told me it’s a losing proposition. “Why are you wasting money? Invest in property.” But I want it for my kids. I’ve got Chaahat (1996) and I want Oh Darling Yeh Hai India (1995) and English Babu Desi Mem (1996). What’s your plan with regard to football?
It’s a wonderful proposition. I believe that the IMG-Reliance auction is on. I’ll speak to Mukeshbhai (Ambani). If I have the resources, I’d love to own a Kolkata club. This is a personal desire, not business. I like soccer; my son (Aryan) and I play it and I’m good at FIFA video games.
Do you find numbers interesting?
Not at all, except my position, which is Number One (laughs). I hate numbers. I can’t even remember telephone numbers.
Didn’t you top at mathematics?
No, I did statistics very well. I got 88 in math because I could add well. I rattoed my answers and I would teach my children until they were in Class 7 but after that, poof, I have no head for numbers. I’ve realised that what works for me in business is that I look good in a suit. I look corporate.
As the head of the company, do you take the final call?
We make decisions as a team, but I help make that call. Fifty per cent of the time, it’s been the right decision. I also get more credit than I should. You see, I’m Shah Rukh Khan… (laughs) Sorry, that
Have you made business decisions
based on emotions?
Most of them are emotional. I went to the Tata head and told him that I want a Starbucks in my office building because my daughter likes the coffee. Red Chillies VFX is my pet project. It’s expensive and technology gets obsolete so fast. I’ve stuck by it – even though other VFX companies are shutting down – only because it will enhance our film experience. There’s that old mafia line, ‘Nothing personal, it’s only business.’ But honest to god, it’s always been personal to me. I’ve only ever strived to be an actor. I don’t go to my office and I don’t have a cabin in there. My office is my set.
shradha.sukumaran@timesgroup.com
