'Losing Dh1 million won't compare to losing my first salary': UAE multi-millionaire who started as blue-collar worker

It may seem paltry today, but for Ramjee Iyer, the UAE-based founder and chairman of a multi-million dollar company, losing his first salary as a white-collar worker to a pickpocket at a theatre in India felt monumental at the time.

Iyer, who began his career as a blue-collar worker handling heavy construction fabrication for cement and oil plants at 17, noted that his first salary as a white-collar worker held special significance.

In an exclusive interview with Khaleej Times on Thursday, the 52-year-old, who now lives in Palm Jumeirah, said, “This incident happened around 1995. I had my first decent job and received my first salary of Rs1,200 (approx Dh55 now) instead of daily pay. I decided to treat myself to a movie, something I hadn’t done in over a decade. For that matter, I hadn’t done anything for myself in years - I had only focused on working. So, one Sunday, with my first salary in my pocket, I stood in line at the theatre.”

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When Iyer went inside and sat down, he realised that someone had picked his pocket. “My wallet, which had my first salary, was gone. Those few hours during the movie were the most depressing hours of my life,” he added. “After toiling for so many years to earn a proper salary, losing it in less than 24 hours was heartbreaking. The amount of money I lost might seem insignificant compared to what people earn today. Even if I lose a million dirhams now, it wouldn’t compare to the despair I felt that day,” said the Chairman and Managing Director, Acube Developments.

Started working young

Recalling his early life, the Indian expat explained how his father, an affluent businessman, owned a factory in Chennai (Tamil Nadu, India) that manufactured plastic parts.

“We were among the first to get a telephone and two cars. Everything was good. Later, my father faced financial problems in his business and suffered from health problems. He passed away when I was quite young. By then, we had lost all our money and were almost on the streets.”

Following this, Iyer’s struggles started with no money to finish school or attend college.

“Since then, I’ve been working all my life. My journey began as a labourer in South India at Gulbarga (now called Kalaburagi in Karnataka). I began with just Rs900 in 1993 (approx Dh40), working about 11 hours daily.”

Perseverance paid off

From there, he gained experience working in several power plants and on various dam construction projects nationwide.

“I was a labourer in constructing India's thermal power plants and nuclear facilities. However, due to my performance, I started receiving better opportunities. I have held nearly every position within a medium-sized construction company, including roles such as helper, fitter, welder, supervisor, project in charge, contract manager, and VP contracts. Additionally, I have experience in the purchasing department and briefly worked in sales as well.”

Despite all adversities, his Indian company eventually nominated him to serve as the Country Head of Operations for a company in Dubai.

“I came here when I was around 28 as a working partner for my Indian firm that wanted to expand into the UAE. When you come to Dubai, you work in that emirate but start your life in Sharjah. However, after a few years, I could set up my own company full-fledged.”

Iyer ventured independently to engage in offshore oil and gas construction projects and established a company that owned and managed vessels for marine and construction support.

Staying grounded

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