Mukesh Ambani Biography | Early Life | Education | Family | Business | Wealth
|Name:||Mukesh Dhirubhai Ambani|
|Born:||Born April 19, 1957|
|Net Worth:||$101 billion|
|Business:||Reliance Industries, Jio, Reliance Retail|
|Children:||Isha Ambani, Akash Ambani, Anant Ambani|
At the age of 17/18, most Indian students worry about their board exams. Mukesh Ambani became a board member of his father’s company.
I talked about some inspiring entrepreneurs before, but, I might have missed out on the luxury and grandeur of their lifestyle. But, for Ambani, we can make an expectation and not forget about how grand his life is.
He is considered one of the richest Indians ever. He sleeps in his expensive 27-story house called Antilia. Owning some top-branded cars is child’s play to him. Furthermore, he is rich enough to gift his wife an airbus on her 44th birthday. Evidently, he is super rich and he is from a family with money. For such a rich person, Ambani has once said that –
But Ambani was not born into money. He belonged to a middle-class family that lived in a two-bedroom apartment. If you are curious, let this brief piece of the article take you into the life and journey of Mukesh Ambani.
Who Is Mukesh Ambani?
Mukesh Ambani is the managing director and the Chairman of Reliance Industries Ltd which is the most valuable company in India according to its market value. His net worth is estimated at the US $95.7. Reliance covers industries like gas, petroleum, retail, and telecom. According to the reports of September 2022, Ambani is the second richest person in Asia.
He took over his father Dhirubhai Ambani’s business and expanded it across different sectors like retail and telecommunication. He has been consistent in holding his place as the richest person in India on the list of Forbes.
Mukesh Ambani already surpassed Jack Ma of the Alibaba group in 2018, becoming the richest person in Asia. Ambani is also the first non-American to be appointed as the director of the Bank Of America.
Ambani has a luxurious lifestyle and holds some of the most expensive assets in his pocket. His house Antilia is one of the most expensive houses in the world. Aside from that, he is also the owner of supercars like the Mercedes Maybach 62, Aston Martin Rapide, a vanity van worth 25 crores, and the Falcon 900EX.
Early Life & Education
Mukesh Ambani belonged to a middle-class Gujarati Hindu family who lived in a British crown colony called Aden. Aden is now in Yemen. His stay in Yemen was shot since his father, Dhirubhai Ambani, decided to move to India with his mother, Kokilaben Ambani. He was born in 1957, and his family moved to Mumbai in 1958.
In his early days, he lived with his younger brother Anil Ambani and two sisters Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaonkar. They were living in a modest two-bedroom apartment. His father, Dhirubhai Ambani, started his business in Textiles and spices.
After the family moved to India, their financial stat had gotten better. But a communal society and public transportations were still a part of Ambani’s life.
Ambani was a student at Hill Grange High School in Mumbai. Upon passing his secondary school, Ambani was enrolled at St. Xavier’s College Mumbai. Later, he took a degree in chemical engineering from the Institute of Chemical Technology.
Although he got admitted to Stanford University for his MBA, his father called him back and made him a Board member of his company. His father already made an empire called Reliance Industries Limited. Ambani expanded upon it and took it to the next level.
Although enrolled for MBA at Stanford University, Mukesh Ambani was called back home by his father who felt that Ambani should learn from real-life examples. In 1981 he left Stanford and became a board member of his father’s business in Reliance Industries. Ambani improved the family business into different areas like Petrochemicals, communications, infrastructures, and much more. Reliance also started to grow under his leadership as the polyester fibers, gas, and petroleum industry became more proficient. He said-
But, when Dhirubhai Ambani died, he and his brother Anil Ambani assumed and joined control of the business.
But the Reliance empire was split in two in 2005. Petrochemicals, oil, gas, and refining textiles came to Mukesh Ambani. and the rest, including power, business, entertainment, and telecom, went to Anil Ambani, the younger brother. For years, Ambani has believed polished what he earned by birthright and expanded even beyond. He says –
Mukesh Ambani launched Jio, the cheapest 4G mobile and broadband network in India, and disrupted the telecommunication industry on 27th Dec 2015. All the telecommunication assets he owned are housed under this new and massive business subsidiary. Jio already has 420 million subscribers and is ready to launch the 5G network soon.
The growth was so immense to attract the likes of Mark Zuckerberg’s Facebook to make a $5.5 billion investment into Jio. Other giant companies like Intel and Google also reportedly invested in Jio. Ambani invested and expanded upon what he believed. He said –
India has Reliance Retail, one of the largest retail stores in India, thanks to Mukesh Ambani. It is the retail that houses many subbrands like Reliance Autozone, Reliance Super, Reliance Home Kitchens, Reliance Market, Reliance Mart, and Reliance iStore. According to the statistics in 2013, the company had 1466 stores. Currently, the market value of this business is around $60 billion. Recently, he made his daughter Isha Parimal the CEO of Reliance retail.
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There are other big named businesses under Ambani’s reign. He owns Reliance Logistics, Reliance Solar, Reliance Industrial Infrastructure, and Network 18. He also has Reliance Eros Production LLP working with Eros International to produce films in India. Ambani has proved his words about success in business through his work and his words. He said –
Ambani achieved with his hands full. He also donated with his palms open. He is the only entrepreneur in India to donate 437 crores. Ambani topped the Hurun Philanthropy business list. He has donated to healthcare, education, and different charitable causes.
Mukesh Ambani married a beautiful and trained Bharathnatyam dancer Neeta Ambani in 1985. He was introduced to Neeta by his father. He is the father of three children, including his son Akash Ambani. Akash Ambani is the CEO of Jio currently. The 65-year-old says no to alcohol and is strictly vegetarian.
His $1 billion dollar house Antilia is a multistory building housing three helipads, a garage to house 160+ cars, movie theaters, swimming pools, and whatnot. The multibillion-dollar Indian entrepreneur also owns one of the most expensive cricket teams, Mumbai Indians, in the IPL.
He is the holder of several Entrepreneur and business awards, like Businessman of the Year, Iconic Business Leader of the Decade Award by CNBC-TV18 India, and Entrepreneur of the Decade’ by ll-India Management Association.
Frequently Asked Questions (FAQs):
Here are some questions you may be curious to know the answers to. So, I have answered them.
Ans: Mukesh Ambani has three main businesses. His business expands across these three industries – oil and petrochemical, retail industry, and telecommunication.
Ans: Reliance, the company established by the late Dhirubhai Ambani was split in two and was divided among his two sons Mukesh and Anil Ambani. Currently, the Ambani group is under the ownership of Dhirubhai Ambani’s younger son Anil Ambani.
Ans: Jio is the subsidiary of Reliance Industries, owned by Mukesh Ambani. The company was established in 2019 to house all the telecommunication-related businesses of Reliance. The current CEO of Jio is Akash Ambani, the son of Mukesh Ambani.
Ans: Mukesh Ambani takes a salary of ₹24 crores per annum. All of his perquisites, salary, and allowances were kept at ₹15 until 1008 to 2009.
Ans: The richest person in India is Gautam Adani of Adani Industries. He is among the richest person according to Forbes. In terms of rich personalities in India, Ambani comes next to Adani.
Ambani’s empire was growing as I wrote this article. It keeps growing as you read it. Although many have concluded and criticized him as a nervous speaker, he has shunned all the criticism through his success and business decisions.
The telecommunication industry in India has made massive growth thanks to Jio. He is definitely one of the inspiring entrepreneurs in India, leading the pathway toward a new world.
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