Recent reports suggest that tech giant Google is in the final stages of negotiations to acquire a stake in Jio Platforms, the digital arm of Reliance Industries. This potential investment by Google amounts to a substantial $4 billion. Mukesh Ambani, serving as the chairman, managing director, and largest shareholder of Reliance Industries, stands as a pivotal figure in this development. Renowned not only as the wealthiest individual in India but also as the richest man in Asia, Ambani’s journey to success is an inspiring tale worth exploring, beginning with his early life and education.
Birth: 19 April, 1957
Age: 63 years
Occupation: Chairman and Managing Director
Wife: Nita Ambani
Children: Anant Ambani(son), Akash Ambani(son), Isha Ambani(Daughter)
Net Worth: $118 billion
Nationality: India
Siblings: Anil Ambani(Brother), Nina Bhadrashyam Kothari (Sister), Dipti Dattaraj Salgaocar (Sister)
Parents: Dhirubhai Ambani (Father), Kokilaben Ambani (Mother)
Career of Mukesh Ambani
Upon his return to India in 1981, Mukesh Ambani played a pivotal role in expanding his father’s business, leading to the establishment of Reliance Industries Limited (RIL). Under his leadership, RIL diversified its operations into various sectors including refining, petrochemicals, retail, and telecommunications. Notably, its subsidiary, Reliance Retail Ltd., has emerged as the largest retailer in India. Apart from business ventures, Mukesh Ambani also owns the IPL team Mumbai Indians and holds ownership in the Indian Super League, a football league in India.
In 1980, during the leadership of Indira Gandhi, India initiated the privatization of the polyester filament yarn (PFY) manufacturing sector. Dhirubhai Ambani, amidst fierce competition from conglomerates like Tatas and Birlas, applied for the license to establish a PFY plant. Despite the intense competition, Dhirubhai successfully navigated through the bureaucratic hurdles of the ‘License Raj’ and secured the necessary licenses. Recognizing the need for additional support, Dhirubhai called upon Mukesh Ambani to aid him in expanding the family business. At that time, Rasikbhai Meswani held the position of director within the company, and Mukesh Ambani diligently reported to him on a daily basis.
The foundation of the company was based on the ethos of collective contribution rather than individual prominence. Tragedy struck in 1985 with the passing of Rasikbhai, followed by Dhirubhai Ambani suffering a stroke in 1986. This pivotal moment marked a significant transition as Mukesh Ambani, as the eldest son, assumed the mantle of responsibility. At the youthful age of 24, Ambani was entrusted with overseeing the construction of the Patalganga petrochemical plant.
Following his father’s demise on July 6, 2002, after a second stroke, tensions between Mukesh and his brother heightened due to the absence of a will outlining the division of the empire. Kokilaben Ambani, their mother, intervened to resolve the dispute by orchestrating the split of the company into two entities. Mukesh Ambani was allocated Reliance Industries Limited and Indian Petrochemicals Corporation Limited as part of the resolution.
Under the leadership of Mukesh Ambani, the company embarked on constructing the world’s largest grassroots petroleum refinery in Jamnagar, India. By the year 2010, this refinery had the capacity to produce 660,000 barrels per day.
In December 2013, Mukesh Ambani disclosed a partnership with Bharti Airtel to establish a digital infrastructure for the 4G network in India. Later, on June 18, 2014, he declared an investment of Rs 1.8 trillion across various business sectors over the next three years. Subsequently, on December 27, 2015, he internally launched 4G broadband services.
In 2016, Jio introduced its own 4G smartphone branded as ‘LYF’. This smartphone became the third highest-selling smartphone in India that year. Subsequently, in September of the same year, Jio 4G was commercially launched.
Early Life, Family and Birth of Mukesh Ambani
Mukesh Ambani, originally named Mukesh Dhirubhai Ambani, entered the world on April 19, 1957, in Aden, which is now part of Yemen. He was born to Dhirubhai Ambani and Kokilaben Ambani. Mukesh has a younger brother named Anil Ambani, along with two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaocar.
After residing in Yemen for a year, Mukesh Ambani’s family returned to India in 1958, as Dhirubhai Ambani ventured into the business of trading spices and textiles.
During the 1970s, Mukesh Ambani resided in a modest two-bedroom apartment located in Mumbai’s Bhuleshwar area. As the family’s financial situation improved over time, his father purchased a 14-floor apartment building named ‘Sea Wind’ in Colaba.
Personal Life of Mukesh Ambani
Mukesh Ambani tied the knot with Nita Ambani in the year 1985. Their union blessed them with two sons, Anant Ambani and Akash Ambani, as well as a daughter named Isha Ambani. Interestingly, the marriage was arranged after Dhirubhai Ambani witnessed Nita’s dance performance and was impressed, subsequently arranging the matrimonial alliance between Mukesh and Nita.
The Ambani family currently resides in Antilia, a towering 27-storey private apartment complex valued at $1 billion USD. This lavish residence boasts a plethora of amenities, including three helipads, a 160-car garage, a private movie theatre, a swimming pool, and a fitness centre. To maintain this opulent abode, the premises are tended to by a staff of 600 members.
During his college years, Mukesh Ambani developed a fondness for Idli Sambhar, a popular South Indian dish. His favorite dining spot is Mysore Cafe in Mumbai, where he frequented during his college days.
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Education of Mukesh Ambani
Mukesh Ambani attended Hill Grange High School at Peddar Road, Mumbai, where he completed his high school education alongside his brother Anil Ambani. Subsequently, he enrolled at St. Xavier’s College, Mumbai, to complete his Senior Secondary Education. Later, Mukesh Ambani obtained a Bachelor’s degree in Chemical Engineering from the Institute of Chemical Technology. While he was admitted to Stanford University for an MBA program, he chose to drop out to assist his father in building Reliance. Ambani attributes much of his innovative thinking to the influence of two teachers, William F. Sharpe and Man Mohan Sharma.
Awards given to Mukesh Ambani
- In 2000, Mukesh Ambani was bestowed with the ‘Ernst & Young Entrepreneur of the Year’ award by Ernst & Young India.
- In 2010, he received the ‘Global Vision Award at The Awards Dinner’ from the Asia Society.
- The same year, he was recognized as the ‘Business Leader of the Year’ by NDTV India.
- Additionally, in 2010, Ambani was honored as the ‘Businessman of the Year’ by Financial Chronicle.
- He also received the ‘School of Engineering and Applied Science Dean’s Medal’ from the University of Pennsylvania in 2010.
- In 2010, Mukesh Ambani was ranked the ‘5th-best performing global CEO’ by Harvard Business Review.
- He received the ‘Global Leadership Award’ from the Business Council for International Understanding in 2010.
- Also in 2010, Ambani was conferred with an ‘Honorary Doctorate (Doctor of Science)’ by M. S. University of Baroda.
- In 2013, he was awarded the ‘Millennium Business Leader of the Decade’ at India Leadership Conclave & Indian Affairs Business Leadership Awards.
- Additionally, in 2016, Ambani was honored as a ‘Foreign Associate, U.S. National Academy of Engineering’ by the National Academy of Engineering.
- That same year, he received the prestigious ‘Othmer Gold Medal’ from the Chemical Heritage Foundation.
Mukesh Ambani: Board Membership
- Mukesh Ambani serves as a Member of the Board of Governors at the Institute of Chemical Technology, Mumbai.
- At Reliance Industries Limited, Ambani holds the positions of Chairman, Managing Director, Chairman of the Finance Committee, and Member of the Employees Stock Compensation Committee.
- He previously held the position of Chairman at Indian Petrochemicals Corporation Limited.
- Ambani also served as the former Vice-Chairman of Reliance Petroleum.
- Currently, he holds the position of Chairman of the Board at Reliance Petroleum.
- Mukesh Ambani holds the positions of Chairman and Chairman of the Audit Committee at Reliance Retail Limited.
- Additionally, he serves as the Chairman of Reliance Exploration and Production DMCC.
- Previously, Ambani served as a Director, Member of the Credit Committee, and Member of the Compensation & Benefits Committee at Bank of America Corporation.
- Currently, he holds the position of President at Pandit Deendayal Petroleum University, Gandhinagar, Gujarat.
FAQ’s About Mukesh Ambani
- What is Mukesh Ambani’s net worth?
– Mukesh Ambani, the chairman of Reliance Industries Limited, has consistently been one of the wealthiest individuals globally. As of the latest available data, his net worth is estimated to be in the billions of dollars, making him one of the richest individuals in the world.
- What are Mukesh Ambani’s major business ventures?
– Mukesh Ambani’s primary business venture is Reliance Industries Limited, a conglomerate with interests in various sectors including petrochemicals, refining, oil, telecommunications, and retail. He has also ventured into other areas such as digital services, media, and entertainment.
- What is the significance of Antilia, Mukesh Ambani’s residence?
– Antilia is the private residence of Mukesh Ambani, located in Mumbai, India. It is considered one of the most expensive residential properties globally, boasting luxurious amenities and facilities. Its construction and opulence have garnered significant attention both domestically and internationally.
- What philanthropic activities is Mukesh Ambani involved in?
– Mukesh Ambani and his family are known for their philanthropic endeavors. They have established various charitable foundations and initiatives focused on education, healthcare, rural development, and social welfare. Additionally, Ambani has contributed significantly to relief efforts during natural disasters and emergencies.
- What is Mukesh Ambani’s role in the Indian economy?
– As the chairman of Reliance Industries Limited, Mukesh Ambani plays a pivotal role in the Indian economy. His business ventures contribute significantly to GDP growth, employment generation, and infrastructure development in India. Ambani’s initiatives in sectors such as telecommunications and retail have transformed industries and impacted millions of lives across the country.