Anil Manibhai Naik stated in various interviews that he never expected to reach the professional heights he has.
Anil Manibhai Naik, the non-executive chairman of Larsen & Toubro, will leave his position on September 30, 2023. He was a rural worker for 58 years. He has been appointed Chairman Emeritus. Experts credit him for developing the monster and protecting it from takeover offers on his own.
His father, Manibhai Nichhabhai Naik, was a freedom fighter who left his position as a teacher in Mumbai to help rural India. AM Naik’s grandpa was a teacher as well. Naik was born in Gujarat on June 9, 1942. He graduated from Gujarat’s Birla Vishvakarma Mahavidyalaya Engineering College with a degree in Mechanical Engineering. He began working for the firm in 1965 as an assistant engineer, earning Rs 760 a month. He was elevated to a managerial position within six months. He was given command of 800 employees eighteen months after entering the organization. He had not yet turned 25 at the time.
He had been turned down before joining the firm. At the time, the corporation preferred IITians. He began working at Nester Boilers. He learned about the job openings at L&T. He went for another interview. He was employed at this time.
AM Naik stated in various interviews that he never imagined he would reach the professional heights he has. He used to believe that if he earned Rs 1000 each month, he could retire.
In 1999, he was appointed CEO of the corporation. He was appointed chairman of the group in July 2017. Under his leadership, the company’s total assets increased to $870 million.
AM Naik is well-known for his humility. He stated in an interview that he only has two sets of shoes, six shirts, and two suits. He has everything he requires.
Despite the fact that he is one of the highest-paid business executives. The business paid him a hefty Rs 137 crore in 2017-2018. His leaves were encashed by the corporation for more than Rs 19 crore. In 2016, his net worth was reported to be Rs 400 crore.
He is also a major philanthropist in the country. In 2016, he donated 75% of his whole income to charity. He further stated that if his son and daughter-in-law would not return to India from the United States, where they work, he would donate his whole fortune.
He was one of the top ten contributors in India in 2022. He gave Rs 142 crore.
Jignesh A Naik, his son, works for Google in California. Rucha, his daughter-in-law, works at Safeway. His daughter and son-in-law are also doctors in the United States.
He was awarded the Padma Bhushan, India’s third-highest civilian honor.