Know About Acharya Balakrishna, The Man Who Owns 94% Stake Of The Patanjali
September 19th, 2016
Image Courtesy: dolphinpost
Acharya Balakrishna and controversies surrounding him
Acharya Balakrishna, who is the CEO of Patanjali, was ranked 26 among 339, in the list of individuals having Rs 1,600 crores. This 44-year-old CEO has stormed into Hurun India Rich List with a wealth of Rs 25,600 crore. Balakrishna, who was born to Nepali parents, had later migrated to India.
Though the face of Patanjali is Baba Ramdev, the brain behind this enterprise is Acharya Balakrishna. While Baba Ramdev propagated ideas of Swadeshi, Ayurveda, Yoga and etc, Balakrishna created products to tap such markets. Unlike the popular belief that Baba Ramdev is the main benefactor behind Patanjali, it is Balakrishna who owns 94% of the stake in the organisation. Baba Ramdev holds no stake in the company.
Balakrishna’s journey from a village in Nepal to becoming the CEO of one of the fastest growing FMCG brands in the country is nothing short of a miracle. But, his journey is not devoid of controversies. His high school and Sanskrit degrees from Sampurana Nand Sanskrit University do not exist on records. He was also charged with cheating and criminal conspiracy for procuring Indian citizenship. The CBI (Central Bureau of Investigation) registered a case against Balakrishna in 2011 and arrested him on charges of forgery and cheating. Subsequently, the ED (Enforcement Directorate) filed a case against him on charges of money laundering. But the agency, after a2-year investigation, found no evidence of wrongdoing and gave Balakrishna a clean chit.
Does degree matter?
There is an opinion that degree does not matter and one’s capabilities to produce results only matter. It is absolutely true that degree does not matter to produce results, but for a business which uses the “trust” factor, truth is of very importance. Patanjali’s success can be mainly attributed to the trust factor of Baba Ramdev and the trust on his disciple Acharya Balakrishna. Most of the people started using Patanjali products because they trusted Baba Ramdev.
Patanjali has a stature of being indigenous and swadeshi at the present time and as claimed they are using swadeshi knowledge and Ayurveda to compete against FMCG giants and MNC.
Also, they have been in controversies for their products and their quality. At the same time have been praised for promoting swadeshi products.