MUKESH AMBANI BIOGRAPHY AND LIFE JOURNEY
The richest businessman in India with a net worth of 51.4 billion US dollars as of 25th March 2020, Mukesh Dhirubhai Ambani represents India on a global platform as a billionaire business magnate making him someone who is also admired by many Indians as a role model. Today, we are going to share with you the Ambani's biography and aspects of his life.
Mukesh Ambani is the chairman, managing director, and largest shareholder of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India's most valuable company by market value. The income from various subsidiary companies of this parent company has made the man, the richest in the country and Asia as well as of April 2020.
All the reliance industries brands contribute to the net worth of the brand. When it comes to the Ambani's business details or the different companies of Ambani, well, Mukesh Ambani's company Reliance Industries Limited or RIL is the owner of various businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Reliance Retail, Reliance Life Sciences, Reliance Institute of Life Sciences, Reliance Logistics, Reliance Clinical Research Services, Record, Reliance Jio Infocomm Limited(RJIL), Reliance Industrial Infrastructure Limited, LYF, Network 18, and Reliance Eros Production LLP are few famous subsidiaries of the brand.
Antilia is the residence of Mukesh Ambani. The private 27-storey building in Mumbai, which was valued at US$1 billion, was the most expensive private residence in the world at the time it was built. The building requires a staff of 600 for maintenance, and it includes three helipads, a 160-car garage, private movie theatre, swimming pool, and fitness centre and has a running cost of 2.5 crores per month.
• Before his success story, we will talk about Ambani's life story. Born on 19 April 1957 in the British Crown colony of Aden (in present-day Yemen) to Dhirubhai Ambani and Kokilaben Ambani.
• lived only briefly in Yemen because his father decided to move back to India in 1958, to start a trading business that focused on spices and textiles. The latter was originally named "Vimal" but later changed to "Only Vimal."
• His family lived in a modest two-bedroom apartment in Bhuleshwar, Mumbai until the 1970s. The family's financial status slightly improved when they moved to India but Ambani still lived in a communal society, used public transportation, and never received an allowance. Dhirubhai later purchased a 14-floor apartment block called 'Sea Wind' in Colaba, where, until recently, Ambani and his brother lived with their families on different floors.
• It is now his old house as he has shifted with his wife and son to Antilla.
• His role in the RIL has been from a very age.
• Ambani attended the Hill Grange High School at Peddar Road, Mumbai, along with his brother and Anand Jain, who later became his close associate.
• Another feather in the cap was when he received BE degree in Chemical Engineering from the Institute of Chemical Technology.
• Ambani later enrolled for an MBA at Stanford University but withdrew in 1980 to help his father build Reliance, which at the time was still a small but fast-growing enterprise.
• Back in India, Dhirubhai was left on his own to build his company and required the support of his son and hence he called Mukesh back to India from Stanford to take care of the yam manufacturing project.
• In 1981 he started to help his father Dhirubhai Ambani run their family business, Reliance Industries Limited which had already expanded so that it also dealt in refining and petrochemicals.
• After joining the company, he contributed to building it from scratch with the principle of everybody contributing to the business and not heavily depend on selected individuals.
• Dhirubhai treated his son as a business partner and allowed him to make decisions. This principle came into play after the then-executive director Rasikbhai's death and Dhirubhai suffering a stroke in 1986.
• On 6 July 2002, Mukesh's father died after suffering a second stroke. This led to elevated tensions between the brothers as Dhirubhai had not left a will for the distribution of the empire in 2004.
• Mukesh and Anil Ambani's mother intervened to stop the feud, splitting the company into two, Ambani receiving control of Reliance Industries Limited and Indian Petrochemicals Corporation Limited, which was later approved by the Bombay High Court in December 2005.
• Ambani directed and led the creation of the world's largest grassroots petroleum refinery at Jamnagar, India.
• In December 2013 Ambani announced, at the Progressive Punjab Summit in Mohali, the possibility of a "collaborative venture" with Bharti Airtel in setting up digital infrastructure for the 4G network in India.
• Following this on 18 June 2014, Mukesh Ambani, while addressing the 40th AGM of Reliance Industries, said he will invest Rs 1.8 trillion (short scale) across businesses in the next three years and launch 4G broadband services in 2015.
• In February 2016, Ambani-led Jio launched its 4G smartphone brand named LYF and by June 2016, it was India's third-largest-selling mobile phone brand
• The release of the service Reliance Jio Infocomm Limited, commonly known as Jio, in September 2016 was a success, and Reliance's shares increased.