Mukesh Ambani
Chairman & Managing Director, Reliance Industries LimitedBirth DetailsApril 19, 1957 | Aden, Yemen
NationalityIndian
LeagueBusiness Leader
EducationChemical Engineering, Institute of Chemical Technology, Mumbai; MBA, Stanford University (dropout)
Net Worth$56.7 billion (as of June 3, 2020)
Mukesh Ambani Assets:
Mukesh Ambani's Journey so far ...
Before you go ...
- Reliance Industries Limited
- Reliance Petroleum
- Reliance Petrochemicals
- Reliance Retail
- Reliance Life Sciences
- Reliance Logistics
- Reliance Jio Infocomm Limited
- Reliance Industrial Infrastructure Limited
- Network 18
- Mumbai Indians
Mukesh Ambani's Journey so far ...
- Mukesh Ambani left his studies mid-way and returned to India in 1981 to help his father Dhirubhai Ambani with the family business
- After taking charge, he led the company’s backward integration endeavours which started with the movement from textiles to polyester fibre manufacturing. He oversaw the development of Reliance’s first mega manufacturing plant at Patalganga (in Maharashtra)
- In 1986, he diversified the company’s interests into petrochemicals, and later to petroleum refining and oil & gas exploration and production
- Over the next few years, he pioneered the establishment of several world-class manufacturing facilities for Reliance Petrochemicals, increasing its manufacturing capacity from less than a million tonnes to more than 21 million tonnes per year
- Reliance’s Jamnagar refinery (in Gujarat) -- which became the world’s largest grassroots petroleum refinery with a capacity of 6,60,000 barrels per day -- was also built under Mukesh Ambani’s leadership. Commissioned in 1999, the plant was integrated with other business subsidiaries such as petrochemicals and power generation
- A subsequent refinery -- with a capacity of 5,80,000 barrels per day -- was built beside the Jamnagar facility, taking the overall capacity of the oil refinery to 1.24 million barrels per day and making it one of the world’s largest single-location refineries
- Dhirubhai Ambani passed away in 2002 without having left a will in place, and by that time Reliance had spread its reach into several established as well as emerging sectors. This led to a bitter dispute between Mukesh and his younger brother Anil which ended in 2005 with the former inheriting the company’s flagship oil-refining and petrochemicals businesses
- In October 2007, with a net worth of $63.2 billion, he surpassed Bill Gates to claim the title of the richest person in the world. Though this title didn’t last long, he has been India’s wealthiest person for a long time now
- He bought the Indian Premier League (IPL) team Mumbai Indians for over $100 million in 2008
- Under his leadership, RIL further ventured into various sectors. With several in-store brands and other partnerships, Reliance Retail became the largest retailer of the country in terms of revenue in 2014
- The same year, RIL acquired Network 18 Media and Investments Ltd which has a host of news and entertainment TV channels among other media initiatives
- He took India by storm when he introduced Jio telecom services in September 2016. Offering free calls and dirt cheap data, the network acquired 100 million customers within 170 days of its launch. By 2019, Jio had sprinted to become the country’s second-largest telecom service provider
- On his watch, RIL’s market cap crossed the Rs 10 lakh crore mark in November 2019, making it the first Indian company to achieve the feat
- Currently, Mukesh Ambani, along with his family, owns around 47% shares of Reliance Industries. He continues to be India’s richest person
Before you go ...
- His Mumbai home ‘Antilia’ -- a 27- storied 4,00,000-square foot skyscraper -- which is valued at over $1 billion is one of the most expensive houses in the world
- He went to the same school as India Inc captains Adi Godrej and Anand Mahindra
- He is paid an annual salary of Rs 15 crore, which has remained constant since 2009
Last Updated: 15/02/2021
Mukesh Ambani News
- Opposition questions probe into death of 'owner' of vehicle found near Ambani's houseA day after the purported owner of the vehicle with explosives parked near industrialist Mukesh Ambani's house was found dead, the opposition BJP said on Saturday that it appeared to be a murder and questioned the investigation by police.
- View: India’s top family conglomerates must play a leadership role in its fight against climate changeFamily ownership is the most dominant form of business around the world. Historically, family businesses have dominated the Indian industry.
- Elon Musk loses $27 billion as historic wealth gains unravelThe Tesla Inc. chief executive officer lost $27 billion since Monday as shares of the automaker tumbled in the selloff of tech stocks.
- Ikea rushes to make up lost time on India expansion after delaysThe company opened its second India store on the outskirts of Mumbai in December and another in the southern city of Bengaluru is now on course to be completed in 12 months, Betzel said, adding that he was hopeful of meeting the target of rolling out shops in 30 Indian cities within seven years.
- Hiren Mansukh, owner of SUV which caused explosives scare near Ambani's house, found deadMansukh's Scorpio with gelatin sticks inside was found near 'Antilia', Ambani's multi-storey residence in South Mumbai, on February 25. Police had said it had been stolen from Airoli-Mulund Bridge on February 18.
- Distributors urge Jeff Bezos not to block Future-RIL dealThe Future Group, which has struck a deal with Reliance to sell off its retail, warehousing and logistics business for Rs 24,000 crore, owes Rs 6,000 crore to small vendors and suppliers, alleged the All India Consumer Products Distributors Federation (AICPDF).
- Reliance on board as limited partner in Kalaari Capital’s 4th fundKalaari Capital is “honoured to have RIL as an anchor LP or limited partner in its recent fund”, founder Vani Kola says in an email to startup founders and investors, and that the two firms shared a “common enthusiasm” for investments in startups and the digital development of Bharat.
- Explosives scare near Mukesh Ambani's house: ACP to head probe teamA Scorpio with 2.5 kg of gelatin sticks, an explosive material, was found near 'Antilia', the multi-storey house of Ambani, chairman of Reliance Industries, on February 25 evening.
- 1 billionaire every 10 days: India’s ’20 countThere are now 209 Indian-origin billionaires, of which 177 are Indian residents. The total list, which continues to be topped by Mukesh Ambani and Gautam Adani, has 50 fresh additions and 10 dropouts.
- Spectrum auction ends with Rs 77,815 crore bids; Jio top buyer with Rs 57,122 croreTelecom Secretary Anshu Prakash said 855.60 MHz of spectrum was bought for Rs 77,814.80 cr in the two-day auction. Reliance Jio bought Rs 57,122.65 crore worth of spectrum while Vodafone Idea Ltd picked Rs 1,993.40 crore worth of airwaves. Bids were received in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz bands but there were no takers for the airwaves in the premium 700 and 2500 MHz bands.
- India adds 40 billionaires in pandemic year; Adani, Ambani see rise in wealth: ReportMukesh Ambani continued to be the wealthiest Indian with a networth of USD 83 billion. The head of Reliance Industries witnessed a 24 per cent jump in fortunes and climbed up one spot to be the eighth richest globally, as per the Hurun Global Rich List.
- Bezos versus Ambani isn’t the only fight in the Indian retail spaceThe ongoing digital transformation of the corner kirana stores, tens of millions of shops catering to 1.3 billion consumers, will matter for everyone from Unilever NV and Procter & Gamble Co. to State Bank of India, the country’s largest lender. It will also be important to Amazon.com Inc. boss Jeff Bezos and Reliance Industries Ltd. Chairman Mukesh Ambani.
- The Future battle between Mukesh Ambani and Jeff Bezos isn't the only change taking over India's retail spaceThe ongoing digital transformation of the corner kirana stores, tens of millions of shops catering to 1.3 billion consumers, will matter for everyone from Unilever NV and Procter & Gamble Co. to State Bank of India, the country’s largest lender. It will also be important to Amazon.com Inc. boss Jeff Bezos and Reliance Industries Ltd. Chairman Mukesh Ambani.
- Message links Jaish-ul-Hind to Mukesh Ambani scare, denial followsThe earlier message said, “We are the same “Akhlaq” you killed. We are people you massacred in the Delhi pogrom…” Akhlaq was apparently a reference to Mohammaed Akhlaq who was killed by a mob in Dadra in 2015 over the issue of cow slaughter.
- Reliance Industries ups stake in skyTran Inc to 54.46% for $26.76 millionThe acquisition of a majority stake in the technology company that develops pod car transport systems is a part of the company’s strategy to use Reliance Industries as a platform to develop new technologies.
- Reliance, Google, Facebook, Infibeam's NUE bid: What does this mean?Experts say that a successful bid for NUE is set to add to the company's plans to make further inroads into the buoyant digital space. Mukesh Ambani led Jio has managed to raise funds from some of the largest global investors for India's growth story.
- Car with explosives near Ambani's house: Letter said it was only `glimpse'The letter was in a blue bag next to the driver's seat, while the gelatin sticks were kept in a packet with the name of its manufacturer. Also a bag with `Mumbai Indians' printed on it was found in the car.
- Jio unveils twin JioPhone-2021 offers to attract feature phone usersJio claimed its latest JioPhone 2021 offer is at least 2.5 times cheaper than similar offerings by its nearest rivals, Airtel and Vodafone Idea.
- Owner of car laden with explosives abandoned near Mukesh Ambani's residence identified"The car was stolen from Mumbai's Vikroli area some time ago. Police managed to identify its real owner despite the damage on its chassis number," police told.
- Mukesh Ambani is again richest Asian as China’s Zhong loses $22 billionMukesh Ambani spent most of the past two years leading the ranking of Asia’s richest people, taking over from Alibaba Group Holding Ltd.’s Jack Ma.
- SUV with explosives found: Driver stayed inside vehicle near Ambani home at night for hoursMumbai Police sources said the message which had been transliterated from Hindi to English, was marked by spelling errors and a coarse style which suggested that the writer was either semi-literate or pretending to be so.
- Vehicle with explosive substance found near Mukesh Ambani's houseThe vehicle was found on Carmichael Road near `Antilia', Ambani's residence, a police official said. A Bomb Detection and Disposal Squad (BDDS) team reached the spot immediately, he said.
- Did Mukesh Ambani just take a leaf out of Elon Musk's playbook?For now, Ambani's plan appears to be at cross purposes with his company's very basic foundation — fossil fuels, apart from being at odds with a whole range of business alliances that RIL has strived to set up, the most notable among them being the one with Aramco.
- RIL hives off oil-to-chemicals bizThe interest-bearing loan from RIL to the O2C company will be an “efficient mechanism to upstream cash, including any potential capital receipts in the unit”, it said.
- Why O2C restructuring is crucial for RIL's alternative energy ventureTaking strategic investors on board for the new-generation energy business will keep the net debt levels under control. According to Morgan Stanley, RIL will be investing $ 50-60 billion on the capital outlays, out of which $ 10-15 billion is likely to be spent on the new energy business.
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