The billionaire, who today heads a gargantuan Rs 2,000 crore empire, revealed how once, his family struggled to make ends meet and his father earned a meagre salary of Rs 10 per day.
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New Delhi: The billionaire, Musthafa PC, who now controls an enormous empire worth Rs 2,000 crore, disclosed how, in the past, his father had a meagre salary of Rs 10 per day and his family had difficulty making ends meet. “My father earned 10 rupees a day,” he told Siddhartha Ahluwalia, the host of The Neon Show podcast.
He also disclosed that in order to provide financial support for the family, he and his siblings worked odd jobs. At the tender age of ten, he started helping his father out on the farm by gathering firewood. The business magnate showed early signs of a natural aptitude for business. He was responsible for buying the family’s first asset, a goat, which he purchased from funds he saved. “I think it was some 150 rupees or so. With that money I saved, I bought a goat. And that was the first asset in the family,” he told Ahluwalia.
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He then proceeded to buy three to four goats, which he eventually traded for a cow. This improved their financial situation significantly. For the first time. the family could afford three square meals a day. “We were able to eat three meals a day. Because the milk from the cow was regulating for the family,” he stated.
A Look Into Musthafa’s Incredible Entrepreneurial Journey
Born in Chennalode, a remote village in the Wayanad district of Kerala, to a poor family, Musthafa spent his childhood living from hand to mouth. His father was a daily wage labourer. Determined to break the cycle of poverty, Musthafa decided to focus on his education. He received a degree in computer science from the National Institute Of Technology, Calicut. After his degree, he worked for some years with the electronic goods giant Motorola, before joining Citibank, Dubai. He later came back to India and pursued an MBA at the prestigious Indian Institute Of Management, Bangalore.
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While studying at IIM Bangalore, Musthafa started a dosa and idli batter manufacturing company with his cousins. The company, ID Fresh was floated in 2005, with a seed capital of just Rs 50,000. After his MBA, he joined the company as the CEO. Initially, the company sold just 10 packets of batter per day. Today, the company is a homemade food item giant with an annual profit of Rs 479 crore. Musthafa is hailed as the breakfast king’ of India, for offering a wide array of fresh, home-made & ready to cook food items, at an affordable price.
