The chairman of the large construction company Larsen and Toubro, Anil Manibhai Naik, has led a very successful professional life. After spending 60 years working for the conglomerate company, Naik disclosed the key to his lengthy and prosperous career: he reinvented himself once in a while.
According to Moneycontrol, Naik transformed from a student who barely attended class to a man who worked 15 hours per day from day one for 21 years without taking a break. Here’s all you need to know about the successful career of Anil Manibhai Naik; his net worth, income, first salary, education and more.
Who is AM Naik?
His father, freedom fighter Manibhai Nichhabhai Naik, left his position as a teacher in a Mumbai school to support rural India. Naik is a native of Gujarat and was born on June 9th, 1942. He graduated from Gujarat's Birla Vishvakarma Mahavidyalaya Engineering College with a degree in mechanical engineering.
As an assistant engineer, he began working for the company in 1965 for a salary of Rs 760. He received a promotion to a supervisory position within six months. He was promoted to overseeing 800 people within 18 months of joining the company. He wasn't yet 25 years old.
He had been turned down earlier than joining the L&T. He joined Nester Boilers instead because the company at the time used to hire IITians. The second time, he learned about hiring at L&T and was given the job.
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In 1999, he was appointed the company's CEO. He was elected group chairman in July 2017. AM Naik is reputed to lead a simple lifeeveryone. He claimed to own just two pairs of shoes, six shirts, and two suits in an interview.
AM Naik's earnings, net worth, and more
The business gave AM Naik a staggering Rs 137 crore in 2017–2018. His leaves were cashed by the company for more than Rs 19 crore. He donated 75% of his total income to charity in 2016. In addition, he vowed to give away all of his assets if his son and daughter-in-law didn't come back to India from the United States, where they both have jobs.
He was one of the top 10 Indian donors in 2022 with a donation of Rs 142 crore. AM Naik publicly owns 9 stocks with a net worth of over Rs 171.3 crore, according to corporate shareholdings filed for March 31, 2023, according to Times Now.
According to the company's Annual Report for the Financial Year 2022–2023, Group Chairman A M Naik received total compensation of Rs. 3.37 crore, excluding the Rs. 3 crore in pension benefits he received during the fiscal year, as reported by Times Now.
