Mukesh Dhirubhai Ambani was born on 19 April 1957. He is an Indian billionaire businessman. He is the chairman and MD of Reliance. Reliance Industries is India’s most valuable company. It is in terms of market value. Forbes published a report on March 2024. It said that he is the richest person in Asia. Moreover, he is 9th richest person in the world. He has a net value of $117.8 billion. People characterize him as a famous person. However, sometimes he is infamous for notorious act. He was accused of market manipulation and exploitation.
Mukesh Ambani’s born and brought up
Mukesh Ambani is the son of Hirubhai Ambani. His mother is Kokilaben Ambani. And he was born on 19 April 1957. He was born in a Gujarati hindu family. His family used to be in Yemen. He has a younger brother and two sisters.
Mukesh Ambani lived shortly in Yemen. Because his father decided to move to India. And started a trading business of spices. There was a textiles business alongside. The name of it was originally Vimal. And then it became ‘Only Vimal’. His family lived in a modest two-bedroom flat. It was in Bhuleshwar, Mumbai until 1970. The family’s condition improved slightly after coming back. But here, Ambani lived in a communal flat. He also used public transportation. And never received any allowance. Dhirubhai later bought a 14 floor-apartment in Colaba. There until recently Ambani and his brother lived. They used to be with their families.
Education
Ambani spent his high school period in Mumbai. His brother and Anand Jain accompanied him. Later Anand became his close associate. After high-school, he started studying in Xavier’s College. He received a BE degree in chemical engineering. Ambani then started MBA in Stanford but left. He left it in 1980 to help Dhirubhai. He helped in making Reliance. It was still a small but fast-growing firm. Dhirubhai thought that real-life skills are more prime. It is useless to sit in classroom. Since, he called his son back from Stanford. He made him take command of yarn-making project.
Ambani has quoted about his teachers. They have influenced him to think. This made him to think out-of-the box.
Initial Career
In 1981, Ambani came out of Stanford. He run their family business Reliance Industries. Mukesh Ambani started Reliance Infocomm (now Reliance Communication). It focused on information and communication service initiatives. Ambani took the charge of the Patalganga project. He was at the age of 24 then. The company was heavily putting money. They were investing in oil refinery and petroleum.
Moreover, Ambani led the crude oil refinery. He also led petrochemicals, power generation, port etc. Furthermore, in 2013, Ambani announced an alliance. It was with Bharti Airtel. The aim was 4G network in India. Ambani reported that he will invest here. In 2014, he promised Rs. 1.8 trillion here.
However, in 2014, Mukesh Ambani got accusation. He was to blame for unnatural pricing. The accusation was regarding natural gas.
Becoming the rich person
Ambani became member of National Academy for Engineers. It was in 2016.
Ambani became the fifth donor among India. It was in 2015. He became the director of Bank of America. He was the first foreigner in the position. In 2016, he became the 36th richest person. It was in all over the world. He became the richest person of India. The report was from Forbes for ten years. He was in the Forbes’ list, most-powerful people. He was the only Indian tycoon to be. As of October 2020, Mukesh Ambani was ranked as 6th wealthy person. The report was published in October 2020. Forbes’ published it considering the whole world. He exceeded Jack Ma, Asia’s wealthiest person. He is also the richest person excluding North-America and Europe.
There was a report of Bloomberg’s ‘Robin Hood index’. Ambani’s personal wealth was enough to fund the operations of the Indian federal government. In 2018, he was able to do that for 20 days.
Through Reliance, he also bought Mumbai Indians. And he also made a football super league. Forbes hinted at him as one of the richest sports-owners in the world. It was in 2012. He lives in Antilia. It is one of the most expensive private-house of the world. It is worth $4.6 billion.
In addition, startups of Bangladesh like Dellly often tries to follow the business strategy of Ambani. And regarding this, the CEO of Dellly says, ‘Mukesh Ambani is an idol of mine as a tycoon. He proved that hard work and dedication can lead a company in the highest stage of success. Becoming an Asian didn’t stop him to set up equal amount worth of projects like Mark Zuckerburg did for his farming.’
Stock shaping and penalty of Mukesh Ambani
For manipulating the shares of Reliance Petroleum (RPL), Reliance Industry was fined Rs. 950 crores in 2007. In April 2006, RPL went public as a Reliance subsidiery of Rs. 60 per share. The market crashed after it floated for Rs. 100. Thus, India’s security board investigated the issue.
Personal life
He married Nita Ambani in 1985 and has two sons, Akash and Anant, and a daughter, Isha. He met Nita after a dance competition which was attended by his father. They lived in Antilia, a private 27 storied building which was worth $1 billion and was the most expensive private residence building at the time it was built. The building requires 600 staff for maintenance and includes 3 helipads and 160 car garage.
Ambani gifted his wife an airbus on her 44th birthday. The airbus includes living room, bedroom, office, bar and shower.
Ambani was titled ‘World’s richest sports team owner’ after he bought Mumbai Indians for $111.9 million.
Mukesh Ambani is a strict vegan and abstainer.
In 2012, he decided to forgo Rs. 240 million from his annual pay as chief of Reliance Industries. He elected to do this even though Reliance’s top management had a pay rise in that year. Mukesh Ambani maintains a majority ownership of 50.4% in the company. This action ensures that his salary remains limited to ₹150 million for the fourth year in a row.
To conclude, in early 2019, a Mumbai court found Mukesh Ambani’s younger brother, Anil Ambani, guilty of not paying off a debt owed by Reliance Communications to Ericsson, a Swedish company. Instead of going to jail, Anil was given a month to settle the debt. Mukesh moved in and paid off the debt for his brother. In 2021, there was a bomb scare when explosives were found near a building where Mukesh Ambani’s office is located. In 2023, he received a death threat via email.
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