Mukesh Ambani net worth

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Mukesh Ambani net worth: $ 85 billion

Mukesh Ambani Net worth: Mukesh Ambani is an Indian businessman with a net worth of $ 85 billion. He has earned net worth through a career at Fortune 500 at Reliance Industries, where he is Chairman, Managing Director and Major Shareholder.

Early life

Mukesh Dhirubhai Ambani was born on April 19, 1957, in the British Crown Colony in Aden, which is modern-day Yemen. He has a younger brother and two sisters. In 1958, the family moved to India, where his father began selling spices and textiles in Mumbai.

He attended Hill Grange High School in Mumbai, and at the Institute of Chemical Technology (formerly the University’s Department of Chemical Technology) he received a Bachelor of Science degree in Chemical Engineering.

Careers in Reliance Industries

In 1980, the Indian government opened up the production of polyester yarn (PFY) to the private sector, and Ambani's father applied for a license to set up a PFY plant, outperforming more than forty other companies to obtain a license. Ambani, the father of the family's eldest son, who valued real-life experiences rather than classroom learning, dropped out of the MBA program in Stanford to help build the PFY factory. Following the death of CEO Rasikbhai Meswani and his father's stroke in 1986, responsibility for the company was transferred to Ambani and his brother Anila.

He founded Reliance Infocomm Limited, now Reliance Communications Limited, which focused on information and communication technology (ICT) initiatives. At the age of 24, Ambani was also entrusted with the construction of the Patalgang petrochemical plant, as the company began to invest heavily in the refinery and petrochemical plants.

After their father's death in 2002, after a second stroke, the lack of a will detailing the spread of the family business empire led to disagreement between Amban and his brother Anil. Their mother intervened, splitting the company into two parts. Ambani acquired control of Reliance Industries Limited and Indian Petrochemicals Corporation Limited following a decision by the Bombay Supreme Court in December 2005. Following the spin-off of the business, in 2010 Ambani operated and established the world's largest local refinery in Jamnagar, India. , which was capable of producing 660,000 barrels per day or 33 million tonnes per year.

He continued to expand his empire with a number of projects and partnerships. He was very involved in moving towards 4G in India, announcing in 2013 the opportunity to work with Bharti Airtel to create a digital infrastructure for India’s 4G network. He then said in 2014 that he would invest Rs 1.8 trillion in all companies over the next three years, with plans to launch 4G broadband in 2015. Reliance Jio, also run by Ambani, launched its 4G smartphone brand, LYF, in February. 2016, which in June 2016 became the third best-selling mobile phone brand in India. Reliance retail Ltd., another subsidiary of Reliance, is the largest retailer in India.

Harvard Business Report In 2010, Ambani was ranked 5th best CEO in the world. Through the various companies he manages at Reliance, he has created great personal value. The Bloomberg Hood Index in February 2018 estimated that Ambani's personal wealth at the time was sufficient to fund the full operation of the Indian federal government for 20 days. For the past ten years since 2016, he has consistently won the title of India's Richest Person on the Forbes list and is the only Indian businessman to be included in the Forbes World's Most Powerful People list. In July 2018, he overtook Alibaba Group CEO Jack Ma to become the richest man in Asia.

Criminal charges

The first information report on possible criminal offenses was submitted to Ambani in February 2014. The report mentions irregularities in natural gas prices from the KG basin.

Other events and activities

In 2008, Ambani received the title of "Owner of the World's Richest Sports Team" after acquiring the Indian Premier League cricket team Mumbai Indians for $ 111.9 million. He is also the founder of the Indian Football League. In addition, Ambani was the first non-American representative on the board of Bank of America and is also a former director of the bank. He is also the President of Pandit Deendajal Petroleum University in Gandhinagar, Gujarat.

In personal life

Ambani married Nita Ambani in 1985 when his father attended a dance performance in which Nita participated and decided to get married. The couple has two sons and a daughter together.

In 2007, Ambani presented his wife with a $ 60 million Airbus A319 for her 44th birthday. Airbus offers customized accessories for the living room, bedroom, satellite TV, WiFi, sky bar, jacuzzi and office, and can carry up to 180 passengers.

He has received numerous awards, including the Ernst & Young Entrepreneur of the Year Award (2000), the Chronicle of the Year Entrepreneur of the Year Award (2010), the International Business Awareness Award in World Leadership (2010), and the Othmer Gold Medal of the Chemical Heritage Foundation (2016). In addition, he holds an honorary doctorate from M.S. Baroda University.

Mumbai mansion

Mukesh and his family live in Antilia, a private 27-storey building in Mumbai worth more than $ 1 billion. He is reported to have spent $ 1 billion from his own resources to build the building. The complex is so large that it requires 600 staff to monitor and maintain a variety of amenities, including three heliports, a 160-car garage, a private movie theater, a swimming pool and a fitness center:

Summary

The net worth of Mukesh Ambani is $ 85 billion. He is the richest man in India and one of the 20 richest people in the world.