Mukesh Ambani Worth: How the Indian Tycoon Built His Fortune
Mukesh Ambani Worth: How the Indian Tycoon Built His Fortune

Mukesh Ambani Worth: How the Indian Tycoon Built His Fortune

Mukesh Ambani is the chairman and managing director of Reliance Industries Limited (RIL), the largest private sector company in India and one of the most valuable companies in the world. He is also the founder and chairman of Jio Platforms, the digital and telecom subsidiary of RIL, and the owner of Reliance Retail, the largest retailer in India. According to the Forbes Billionaires List 2021, Mukesh Ambani is the richest person in India and the 10th richest person in the world, with a net worth of $84.5 billion as of November 2021.

Mukesh Ambani

But how did Mukesh Ambani achieve this level of success and wealth? What are the main factors that contributed to his rise and dominance in the Indian and global business landscape? And how does he spend his fortune and give back to society? In this article, we will explore the life and career of Mukesh Ambani, his business empire, his lifestyle and philanthropy, and some of the most frequently asked questions about him and his worth.

Mukesh Ambani’s Business Empire

Mukesh Ambani was born on 19 April 1957 in Aden, Yemen, to Dhirubhai Ambani and Kokilaben Ambani. He has a younger brother, Anil Ambani, and two sisters, Nina Kothari and Deepti Salgaonkar. He grew up in Mumbai, where his father started a small trading business in the 1960s. He graduated from the Institute of Chemical Technology in Mumbai with a bachelor’s degree in chemical engineering and then enrolled at Stanford University in the US for an MBA, but dropped out in 1980 to join his father’s business.

Mukesh Ambani played a key role in the expansion and diversification of Reliance Industries, which started as a textile manufacturer and then ventured into petrochemicals, oil and gas, refining, and telecommunications. He was instrumental in setting up the world’s largest grassroots petroleum refinery at Jamnagar, Gujarat, in 1999, which has a capacity of 1.24 million barrels per day. He also spearheaded the creation of Reliance Infocomm Limited (now Reliance Jio Infocomm Limited), which was the first company to offer 4G services in India.

In 2002, after the death of Dhirubhai Ambani, Mukesh Ambani and his brother Anil Ambani had a bitter feud over the control and ownership of Reliance Industries. The dispute was resolved in 2005, with the help of their mother Kokilaben Ambani, who divided the assets of the group between the two brothers. Mukesh Ambani retained Reliance Industries and its subsidiaries, while Anil Ambani got Reliance Communications, Reliance Energy, Reliance Capital, and Reliance Natural Resources.

Since then, Mukesh Ambani has consolidated his position as the undisputed leader of the Indian corporate sector, by expanding and diversifying his businesses into new domains and sectors. Some of the major segments of his business empire are.

Reliance Industries

Reliance Industries is the flagship company of the Ambani group, which operates in various sectors such as energy, petrochemicals, textiles, natural resources, retail, and telecommunications. It is the largest private sector company in India, with a revenue of ₹5.4 lakh crore ($72.4 billion) and a net profit of ₹53,739 crore ($7.2 billion) in the fiscal year 2020-21. It is also the most valuable company in India by market capitalization, which stood at ₹15.3 lakh crore ($206.4 billion) as of November 2021.

Reliance Industries has a global presence, with operations in over 20 countries and exports to over 100 countries. It has a workforce of over 2.36 lakh (236,000) employees and over 25 lakh (2.5 million) shareholders. It has several subsidiaries and joint ventures, such as Reliance Petroleum, Reliance Life Sciences, Reliance Industrial Infrastructure, Reliance Solar, Reliance Eros Productions, and Reliance Sibur Elastomers.

Jio Platforms

Jio Platforms is the digital and telecom arm of Reliance Industries, which owns and operates Reliance Jio Income Limited, the largest mobile network operator in India and the third largest in the world, with over 426.2 million subscribers as of June 2021. Jio Platforms also encompasses various digital services and platforms, such as JioFiber (fiber to the home service), JioMart (online grocery delivery service), JioSaavn (music streaming service), JioCinema (video streaming service), JioTV (live TV service), JioNews (news aggregator service), JioMeet (video conferencing service), JioChat (messaging service), JioMoney (digital payment service), JioHealthHub (healthcare service), and JioEducation (online education service).

Jio Platforms was established in 2019 as a wholly owned subsidiary of Reliance Industries, to leverage the synergies of its digital and telecom businesses and to create a digital ecosystem for India. In 2020, Jio Platforms raised over ₹1.52 lakh crore ($20.6 billion) by selling a 32.97% stake to various global investors, such as Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF, Intel Capital, and Qualcomm Ventures. This was the largest fundraising exercise by any company in India and the largest investment by any technology company in the world in 2020.

Reliance Retail

Reliance Retail is the largest retailer in India, with a revenue of ₹1.57 lakh crore ($21.2 billion) and a net profit of ₹9,842 crore ($1.3 billion) in the fiscal year 2020-21.It operates over 12,711 stores across 7,000 towns and cities in India, covering various segments such as grocery, consumer electronics, fashion and lifestyle, jewelry, footwear, home improvement, and farm produce. It has a customer base of over 64 crore (640 million) and a workforce of over 2.65 lakh (265,000) employees.

Reliance Retail has several brands and formats, such as Reliance Fresh, Reliance Smart, Reliance Digital, Reliance Trends, Reliance Jewels, Reliance Footprint, Reliance Home, Reliance Market, Reliance Agro, and Reliance Petro. It also has exclusive partnerships with global brands, such as Hamleys, Marks & Spencer, Armani Exchange, Diesel, Superdry, Steve Madden, MUJI, and Tiffany & Co.

In 2020, Reliance Retail raised over ₹47,265 crore ($6.4 billion) by selling a 10.09% stake to various global investors, such as Silver Lake, KKR, Mubadala, ADIA, GIC, TPG, General Atlantic, and PIF. It also acquired a majority stake in Future Group, the second largest retailer in India, for ₹24,713 crore ($3.3 billion), in a deal that is currently facing legal challenges from Amazon, which had a prior agreement with Future Group.

Other Ventures

Apart from the core businesses of energy, telecom, and retail, Mukesh Ambani also has interests and investments in various other sectors, such as media, entertainment, education, sports, and hospitality. Some of his notable ventures are:

  • Network18: A media and entertainment conglomerate, which owns and operates various television channels, such as CNN-News18, CNBC-TV18, Colors, MTV, VH1, Nickelodeon, History TV18, and Comedy Central, as well as various digital platforms, such as Moneycontrol, Firstpost, News18, Voot, and JioNews. Reliance Industries acquired a controlling stake in Network18 in 2014 for ₹4,000 crore ($540 million).
  • Eros International: A film production and distribution company, which has produced and distributed over 3,000 films in various languages, such as Hindi, Tamil, Telugu, Malayalam, Kannada, Marathi, Bengali, Punjabi, and English. Reliance Industries acquired a 5% stake in Eros International in 2018 for $48.75 million.
  • Jio Institute: A proposed institution of eminence, which aims to offer undergraduate and postgraduate courses in various fields, such as engineering, natural sciences, humanities, social sciences, arts, and media. Jio Institute was granted the status of an institution of eminence by the Indian government in 2018, along with five other institutions, such as IIT Delhi, IIT Bombay, IISc Bangalore, BITS Pilani, and Manipal Academy of Higher Education.
  • Mumbai Indians: A franchise cricket team, which competes in the Indian Premier League (IPL), the most popular and lucrative cricket league in the world. Mumbai Indians is the most successful team in the IPL, having won the title five times, in 2013, 2015, 2017, 2019, and 2020. Mumbai Indians is owned by Reliance Industries through its subsidiary IndiaWin Sports.
  • Oberoi Hotels & Resorts: A luxury hotel chain, which operates 33 hotels and resorts in India and abroad, such as in Dubai, Mauritius, Egypt, Indonesia, and Saudi Arabia. Reliance Industries acquired a 14.12% stake in EIH Limited, the parent company of Oberoi Hotels & Resorts, in 2010 for ₹1,021 crore ($137 million).
  • Mukesh Ambani’s Lifestyle and Philanthropy.
  • Mukesh Ambani is known for his lavish and extravagant lifestyle, which reflects his immense wealth and status. He owns several properties, vehicles, and assets, which are worth billions of dollars. Some of the most notable aspects of his lifestyle and philanthropy are:
  • Antilia
  • Antilia is the most expensive private residence in the world, valued at over $1 billion. It is a 27-story skyscraper located on Altamount Road in Mumbai, which is one of the most expensive streets in the world. Antilia has a floor area of over 400,000 square feet, which includes six floors of parking, three helipads, a 50-seat theater, a ballroom, a temple, a spa, a gym, a swimming pool, a snow room, and a garden. Antilia can accommodate up to 600 guests and has a staff of 600 to maintain it.
  • Who designed Antilia and what are its features?
  • Antilia was designed by Chicago-based architects Perkins and Will, and Mumbai-based architects Hafeez Contractor. The design of Antilia was inspired by the lotus and the sun, and incorporates elements of traditional Indian architecture, such as Vastu Shastra and Feng Shui. Antilia is also a green building, which uses solar panels, wind turbines, rainwater harvesting, and recycled materials to reduce its environmental impact. Antilia is also equipped with state-of-the-art security systems, such as biometric scanners, CCTV cameras, and bomb-proof windows.
  • Mukesh Ambani’s Family and Personal Life
  • Mukesh Ambani is married to Nita Ambani, who is the founder and chairperson of Reliance Foundation, the philanthropic arm of Reliance Industries, and the co-owner of Mumbai Indians. They have three children, Akash Ambani, Isha Ambani, and Anant Ambani, who are all involved in various businesses and initiatives of the Ambani group.
  • Akash Ambani is the director of Reliance Jio Infocomm and Reliance Retail, and the chief of strategy of Jio Platforms. He is married to Shloka Mehta, the daughter of Russell Mehta, the chairman of Rosy Blue Diamonds, one of the world’s largest diamond companies.
  • Isha Ambani is the director of Reliance Jio Infocomm and Reliance Retail, and the founder of AJIO, an online fashion platform. She is also involved in various social and cultural initiatives, such as the Reliance Foundation, the Jio MAMI Mumbai Film Festival, and the Metropolitan Museum of Art. She is married to Anand Piramal, the son of Ajay Piramal, the chairman of Piramal Group, a diversified conglomerate with interests in pharmaceuticals, financial services, real estate, and healthcare.
  • Anant Ambani is the youngest son of Mukesh Ambani, who is currently pursuing his higher studies at Brown University in the US. He is also interested in wildlife conservation, spirituality, and sports. He is reportedly dating Radhika Merchant, the daughter of Viren Merchant, the CEO and vice-chairman of Encore Healthcare, a pharmaceutical company.
  • Mukesh Ambani’s Philanthropic Activities and Social Causes
  • Mukesh Ambani is also a generous and influential philanthropist, who has contributed to various social and humanitarian causes, such as education, health, rural development, sports, arts, and culture. He is the founder and chairman of Reliance Foundation, which is the largest private foundation in India, with a corpus of over ₹40,000 crore ($5.4 billion). Reliance Foundation has undertaken several initiatives and programs, such as:
  • Reliance Foundation Education for All: A program that provides quality education to underprivileged children, especially girls, and supports their holistic development. The program has reached over 1.8 million children across 14,000 schools in India.
  • Reliance Foundation Health for All: A program that provides affordable and accessible healthcare to the poor and marginalized communities, and promotes preventive and primary care. The program has established over 15 hospitals and 200 health centers in India, and has served over 10 million patients.
  • Reliance Foundation Rural Transformation: A program that empowers rural communities to achieve sustainable livelihoods, food security, and social inclusion. The program has supported over 15,000 villages and 75 lakh (7.5 million) farmers in India, and has facilitated the creation of over 5,000 farmer producer organizations.
  • Reliance Foundation Sports for Development: A program that promotes sports as a tool for social change, and nurtures talent and excellence in various disciplines. The program has supported over 25,000 athletes and coaches, and has organized over 10,000 grassroots events in India.
  • Reliance Foundation Arts, Culture, and Heritage: A program that preserves and promotes the rich and diverse cultural heritage of India, and fosters creativity and innovation in various fields. The program has supported over 500 artists and institutions, and has curated over 100 events and exhibitions in India and abroad.
  • Conclusion
  • Mukesh Ambani is one of the most successful and influential business leaders in the world, who has built a formidable and diversified empire that spans across various sectors and markets. He is also one of the richest and most generous philanthropists in the world, who has contributed to various social and humanitarian causes, and has improved the lives of millions of people. He is a visionary and an innovator, who has transformed the Indian and global economy, and has created a digital ecosystem for India. He is a role model and an inspiration for many aspiring entrepreneurs and leaders, who aspire to emulate his achievements and values.

FAQs

  • What is the price of Antilia?
    • Antilia is the most expensive private residence in the world, valued at over $1 billion.
  • Who designed Antilia and what are its features?
    • Antilia was designed by Chicago-based architects Perkins and Will, and Mumbai-based architects Hafeez Contractor. The design of Antilia was inspired by the lotus and the sun, and incorporates elements of traditional Indian architecture, such as Vastu Shastra and Feng Shui. Antilia is also a green building, which uses solar panels, wind turbines, rainwater harvesting, and recycled materials to reduce its environmental impact. Antilia is also equipped with state-of-the-art security systems, such as biometric scanners, CCTV cameras, and bomb-proof windows.
  • Who is the CEO of Reliance Industries?
    • Mukesh Ambani is the chairman and managing director of Reliance Industries Limited, the largest private sector company in India and one of the most valuable companies in the world.
  • Who is the founder of Jio?
    • Mukesh Ambani is the founder and chairman of Jio Platforms, the digital and telecom subsidiary of Reliance Industries, which owns and operates Reliance Jio Infocomm Limited, the largest mobile network operator in India and the third largest in the world.
  • Who is the daughter of Reliance CEO?
    • Isha Ambani is the daughter of Mukesh Ambani, the chairman and managing director of Reliance Industries Limited. She is the director of Reliance Jio Infocomm and Reliance Retail, and the founder of AJIO, an online fashion platform. She is also involved in various social and cultural initiatives, such as the Reliance Foundation, the Jio MAMI Mumbai Film Festival, and the Metropolitan Museum of Art. She is married to Anand Piramal, the son of Ajay Piramal, the chairman of Piramal Group, a diversified conglomerate with interests in pharmaceuticals, financial services, real estate, and healthcare.
  • What is Mukesh Ambani’s net worth in rupees?
    • According to the Forbes Billionaires List
  • According to the web search results, Mukesh Ambani’s net worth in rupees is 6.7 lakh crores, which is equivalent to $80.7 billion as of October 2021.He is the richest person in India and the 10th richest person in the world, according to the Forbes Billionaires List 2021. He is the chairman and managing director of Reliance Industries Limited, the largest private sector company in India, and the founder and chairman of Jio Platforms, the digital and telecom subsidiary of Reliance Industries2 He also owns Reliance Retail, the largest retailer in India, and has interests and investments in various other sectors, such as media, entertainment, education, sports, and hospitality3 He lives in Antilia, the most expensive private residence in the world, valued at over $1 billion3 He is married to Nita Ambani, the founder and chairperson of Reliance Foundation, and has three children, Akash, Isha, and Anant. He is also a generous and influential philanthropist, who has contributed to various social and humanitarian causes, such as education, health, rural development, sports, arts, and culture.

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