Mukesh Ambani Biography
Mukesh Ambani is a billionaire industrialist from India. He is the chairman and CEO of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India’s most valuable company in terms of market capitalization.
How old is Mukesh Ambani? – Age
He is 65 years old as of 19 April 2022. He was born in 1957 in Aden, Yemen.
Mukesh Ambani Family
He was born into a Gujarati Hindu family in the British Crown colony of Aden (present-day Yemen) to Dhirubhai Ambani and Kokilaben Ambani. He has two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaonkar, as well as a younger brother, Anil Ambani. Ambani only spent a short time in Yemen because his father decided to return to India in 1958 to start a spice and textile trading business. The latter was originally called “Vimal,” but was later renamed “Only Vimal.” Until the 1970s, his family lived in a modest two-bedroom apartment in Bhuleshwar, Mumbai. When the family moved to India, their financial situation improved slightly, but Ambani continued to live in a communal society, took public transportation, and never received an allowance. Ambani and his brother shared a floor with their respective families.
What did Mukesh Ambani study? – Education
Ambani attended Peddar Road’s Hill Grange High School with his brother and Anand Jain, who later became a close associate. He attended St. Xavier’s College in Mumbai after finishing secondary school. The Institute of Chemical Technology then awarded him a BE degree in chemical engineering.
Ambani later enrolled at Stanford University for an MBA, but dropped out in 1980 to help his father build Reliance, which was still a small but rapidly growing company at the time. His father believed that real-world skills were gained through experiences rather than sitting in a classroom, so he summoned his son from Stanford to take command of a yarn manufacturing project in his company.
Mukesh Ambani Wife
In 1985, he married Nita Ambani, and they have two sons, Akash and Anant, as well as a daughter, Isha, who is Akash’s twin. They met after his father attended a dance performance in which Nita participated and considered arranging a marriage between the two.
Mukesh Ambani House
Antilia Commercial Private Limited, a commercial business entity, purchased the couple’s 4,00,000 square-foot plot in July 2002. The property was purchased for a whopping 215 million rupees, or about $3 million USD. A slew of architects was involved in the planning process. The design of the house was handled by Chicago-based architectural firm Perkins & Will and California-based interior design firm Hirsch Bedner Associates, with construction handled by Leighton Contractors, an Australian company. However, B.E. Billimoria & Company Limited eventually finished the building.
Each square foot of real estate can cost anywhere between 80,000 and 85,000 rupees, according to recent estimates. Antilia by Mukesh Ambani is 400,000 square feet in size. The Ambani family residence is estimated to cost between one and two billion USD, or 6,000 to 12,000 crore rupees. Forbes magazine provided this estimate. The house is situated on one of Mumbai’s most prestigious plots of land, and it is the most expensive property in the city, second only to Buckingham Palace.
Is Ambani 4th richest man in the world? – Net Worth
Gautam Adani has surpassed Bill Gates to become the world’s fourth richest man; Mukesh is ranked tenth on the Forbes list with a net worth of USD 90 billion.
What was Mukesh Ambani first job?
He began his career as a clerk at A. Besse & Co., the largest transcontinental trading firm east of Suez in the 1950s. He learned trading, accounting, and other business skills while there.
Mukesh Ambani Career
In 1981, he began assisting his father, Dhirubhai Ambani, in running their family business, Reliance Industries Limited. It had already grown to include refining and petrochemicals by this point. The company also provided retail and telecommunications products and services. Another subsidiary, Reliance Retail Ltd., is India’s largest retailer. Since its public launch on September 5, 2016, Reliance Jio has risen to the top of the country’s telecommunications services.
Ambani was ranked 36 in 2016 and has held the title of India’s richest person for the past ten years on Forbes magazine’s list. On Forbes’ list of the world’s most powerful people, he is the only Indian businessman. Mukesh Ambani was named the world’s sixth-wealthiest person by Forbes in October 2020. In July 2018, he surpassed Jack Ma, executive chairman of Alibaba Group, to become Asia’s wealthiest person, with a net worth of $44.3 billion. He is also the world’s wealthiest person outside of North America and Europe. According to China’s Hurun Research Institute, Ambani was ranked fifth among India’s philanthropists in 2015. He was appointed as a director of Bank of America, making him the bank’s first non-American board member.
He also owns the Indian Premier League franchise Mumbai Indians through Reliance and is the founder of the Indian Super League, a football league in India. Forbes named him one of the world’s wealthiest sports owners in 2012. He lives in the Antilia Building, one of the most expensive private residences in the world, with a value of $1 billion.
The Indian government, led by Indira Gandhi, opened up polyester filament yarn (PFY) manufacturing to the private sector in 1980. Dhirubhai Ambani applied for a PFY manufacturing plant license. He drew his eldest son Mukesh from Stanford, where he was pursuing an MBA, to join him at the company. This resulted in Reliance’s backward integration, in which companies own their suppliers in order to increase revenue and efficiency.
Ambani oversaw the construction of the world’s largest grassroots petroleum refinery in Jamnagar, India. In 2016, he was elected to the National Academy of Engineering for his engineering and business leadership in oil refineries, petrochemical products, and related industries. In the next three years, Ambani plans to invest Rs 1.8 trillion (on a small scale) in various businesses. Bloomberg’s “Robin Hood Index” estimated in February 2018 that his personal wealth was sufficient to fund the operations of the Indian federal government for 20 days.