11 months ago
Thyrocare Founder: Frugality and Financial Discipline Key to Success
Dr. Velumani, who started from humble beginnings, shared his secrets to becoming rich.
He believes being poor was a key advantage, teaching him the value of saving.
He built his company, Thyrocare, by making smart, sometimes unconventional, decisions.
Now, after selling his company, he's still careful with money.
He avoids debt, invests wisely, and emphasizes that living frugally, even after success, is the best way to maintain peace of mind.
Dr. Velumani, founder of Thyrocare, shared his insights on wealth creation and frugality.
He attributes his success to his upbringing in poverty and frugal lifestyle.
He sold his company, Thyrocare, for approximately ₹4,500 crore.
His investment strategy includes mutual funds, ETFs, and real estate.
He advises the younger generation to save, invest wisely, and prioritize frugality.
- Who
- Dr. Arokiaswamy Velumani, founder of Thyrocare Technologies Ltd.
- What
- Shared financial advice and insights on his journey from poverty to wealth.
- Where
- India
- When
- Interviewed at the Mint Money Festival.
- Why
- To offer money lessons and explain his success based on frugality.
Key facts
- Founder
- Dr. Arokiaswamy Velumani
- Company Sold
- Thyrocare Technologies Ltd
- Sale Value
- ₹4,500 crore (approx.)$
- Age
- 66
- Investment Strategy
- One-third mutual funds, ETFs, and real estate
Quotes
Dr. Arokiaswamy Velumani
The founder of Thyrocare Technologies Ltd.
“People say the closing balance in your bank account when you die is wasted effort, and that it’s foolish to leave money behind.”
livemint.com
“I’m not trying to scare anyone, but you must invest carefully, wisely, and spread your eggs across many baskets.”
livemint.com
US President Trump
The president of the United States
“I understand that India is no longer going to be buying oil from Russia. That is a good step.”
livemint.com
