This entrepreneur had recently made a lot of money; in fact, an enormous amount of money when his company was acquired by a well- known MNC. He decided to spend some of the money on acquiring the latest cars, homes around the country and the world, memberships into the best clubs and all the other commonly recognised trappings of material success. He set up a family office, with some very expensive advisors, to help advise and manage his wealth and decided to become a philanthropist. He set up a foundation that in turn set up a hospital and an educational institute—naturally, they were named after him. In a year, he had spent close to R50 crore of which only about R6 crore was spent on creating assets (including his philanthropic activities). He stopped listening to his long time trusted friend and accountant. Everything had to be big, large and loudly proclaiming his arrival into the mega millionaire club. He appeared determined to be recognised and acknowledged by all.
Another entrepreneur too sold his company to a MNC. He, alongside partners, too had built a successful business that was very well-known and regarded. After the acquisition, the entrepreneur took his share of the money and left after a disagreement with his former colleagues. He appeared to be maniacally consumed with the idea of out-doing his former partners who were now at the helm of the operations of the MNC. He was the sole thinker and decision maker with no more pesky partners and investors to deal with. He spent over 50% of his hard earned money trying to set up a brand and business that would rival, and indeed, beat the MNC. Increasing losses in his new business seemed to spur him to invest more of his money. After all, he knew the business! At least he thought so. But the MNC was running away with the market.
Well-known international and national publications and industry groups had showered praise and awards on the third entrepreneur. He had painstakingly built a dominant business in a large and fast