Mukesh AmbaniChairman & Managing Director, Reliance Industries Limited
Birth DetailsApril 19, 1957 | Aden, Yemen
Chemical Engineering, Institute of Chemical Technology, Mumbai; MBA, Stanford University (dropout)
$56.7 billion (as of June 3, 2020)
Mukesh Ambani Assets:
Mukesh Ambani's Journey so far ...
Before you go ...
- Reliance Industries Limited
- Reliance Petroleum
- Reliance Petrochemicals
- Reliance Retail
- Reliance Life Sciences
- Reliance Logistics
- Reliance Jio Infocomm Limited
- Reliance Industrial Infrastructure Limited
- Network 18
- Mumbai Indians
Mukesh Ambani's Journey so far ...
- Mukesh Ambani left his studies mid-way and returned to India in 1981 to help his father Dhirubhai Ambani with the family business
- After taking charge, he led the company’s backward integration endeavours which started with the movement from textiles to polyester fibre manufacturing. He oversaw the development of Reliance’s first mega manufacturing plant at Patalganga (in Maharashtra)
- In 1986, he diversified the company’s interests into petrochemicals, and later to petroleum refining and oil & gas exploration and production
- Over the next few years, he pioneered the establishment of several world-class manufacturing facilities for Reliance Petrochemicals, increasing its manufacturing capacity from less than a million tonnes to more than 21 million tonnes per year
- Reliance’s Jamnagar refinery (in Gujarat) -- which became the world’s largest grassroots petroleum refinery with a capacity of 6,60,000 barrels per day -- was also built under Mukesh Ambani’s leadership. Commissioned in 1999, the plant was integrated with other business subsidiaries such as petrochemicals and power generation
- A subsequent refinery -- with a capacity of 5,80,000 barrels per day -- was built beside the Jamnagar facility, taking the overall capacity of the oil refinery to 1.24 million barrels per day and making it one of the world’s largest single-location refineries
- Dhirubhai Ambani passed away in 2002 without having left a will in place, and by that time Reliance had spread its reach into several established as well as emerging sectors. This led to a bitter dispute between Mukesh and his younger brother Anil which ended in 2005 with the former inheriting the company’s flagship oil-refining and petrochemicals businesses
- In October 2007, with a net worth of $63.2 billion, he surpassed Bill Gates to claim the title of the richest person in the world. Though this title didn’t last long, he has been India’s wealthiest person for a long time now
- He bought the Indian Premier League (IPL) team Mumbai Indians for over $100 million in 2008
- Under his leadership, RIL further ventured into various sectors. With several in-store brands and other partnerships, Reliance Retail became the largest retailer of the country in terms of revenue in 2014
- The same year, RIL acquired Network 18 Media and Investments Ltd which has a host of news and entertainment TV channels among other media initiatives
- He took India by storm when he introduced Jio telecom services in September 2016. Offering free calls and dirt cheap data, the network acquired 100 million customers within 170 days of its launch. By 2019, Jio had sprinted to become the country’s second-largest telecom service provider
- On his watch, RIL’s market cap crossed the Rs 10 lakh crore mark in November 2019, making it the first Indian company to achieve the feat
- Currently, Mukesh Ambani, along with his family, owns around 47% shares of Reliance Industries. He continues to be India’s richest person
Before you go ...
- His Mumbai home ‘Antilia’ -- a 27- storied 4,00,000-square foot skyscraper -- which is valued at over $1 billion is one of the most expensive houses in the world
- He went to the same school as India Inc captains Adi Godrej and Anand Mahindra
- He is paid an annual salary of Rs 15 crore, which has remained constant since 2009
Last Updated: 15/02/2021
Mukesh Ambani News
- Reliance Industries ups stake in skyTran Inc to 54.46% for $26.76 millionThe acquisition of a majority stake in the technology company that develops pod car transport systems is a part of the company’s strategy to use Reliance Industries as a platform to develop new technologies.
- Reliance, Google, Facebook, Infibeam's NUE bid: What does this mean?Experts say that a successful bid for NUE is set to add to the company's plans to make further inroads into the buoyant digital space. Mukesh Ambani led Jio has managed to raise funds from some of the largest global investors for India's growth story.
- Car with explosives near Ambani's house: Letter said it was only `glimpse'The letter was in a blue bag next to the driver's seat, while the gelatin sticks were kept in a packet with the name of its manufacturer. Also a bag with `Mumbai Indians' printed on it was found in the car.
- Jio unveils twin JioPhone-2021 offers to attract feature phone usersJio claimed its latest JioPhone 2021 offer is at least 2.5 times cheaper than similar offerings by its nearest rivals, Bharti Airtel and Vodafone Idea.
- Owner of car laden with explosives abandoned near Mukesh Ambani's residence identified"The car was stolen from Mumbai's Vikroli area some time ago. Police managed to identify its real owner despite the damage on its chassis number," police told.
- Mukesh Ambani is again richest Asian as China’s Zhong loses $22 billionMukesh Ambani spent most of the past two years leading the ranking of Asia’s richest people, taking over from Alibaba Group Holding Ltd.’s Jack Ma.
- SUV with explosives found: Driver stayed inside vehicle near Ambani home at night for hoursMumbai Police sources said the message which had been transliterated from Hindi to English, was marked by spelling errors and a coarse style which suggested that the writer was either semi-literate or pretending to be so.
- Vehicle with explosive substance found near Mukesh Ambani's houseThe vehicle was found on Carmichael Road near `Antilia', Ambani's residence, a police official said. A Bomb Detection and Disposal Squad (BDDS) team reached the spot immediately, he said.
- Did Mukesh Ambani just take a leaf out of Elon Musk's playbook?For now, Ambani's plan appears to be at cross purposes with his company's very basic foundation — fossil fuels, apart from being at odds with a whole range of business alliances that RIL has strived to set up, the most notable among them being the one with Aramco.
- RIL hives off oil-to-chemicals bizThe interest-bearing loan from RIL to the O2C company will be an “efficient mechanism to upstream cash, including any potential capital receipts in the unit”, it said.
- Why O2C restructuring is crucial for RIL's alternative energy ventureTaking strategic investors on board for the new-generation energy business will keep the net debt levels under control. According to Morgan Stanley, RIL will be investing $ 50-60 billion on the capital outlays, out of which $ 10-15 billion is likely to be spent on the new energy business.
- RIL initiates oil-to-chemical hiveoff plan, expects NCLT nod by Q2RIL said that the consideration for O2C assets that will be transferred to the subsidiary will be funded by interest bearing loan from the parent worth $ 25 billion.
- Scoop: Jio Platforms set to invest $200 million in Kalaari CapitalJio Platforms’ investment in Vani Kola’s Kalaari Capital will give Reliance Industries an early line of sight into startups and upcoming sectors.
- RIL announces O2C biz demerger ahead of Aramco dealRIL said that the reorganisation will enable focused pursuit of opportunities across O2C value chain, improve efficiencies through self-sustaining capital structure and dedicated management team attract dedicated pools of investor capital
- Mukesh Ambani poorer by Rs 23,871 crore in stocks crash as Sensex slips below 50KThe ordinary shares of Reliance Industries closed down 3.52 per cent at Rs 2,007.40. The partly-paid shares slumped 4.52 per cent to Rs 1,133.70.
- Reliance Industries gains as company finalising O2C hiveoffThe move will help the company attract global investors like Saudi Aramco, said people familiar with the exercise.
- Reliance Industries finalising oil-to-chemicals hiveoff as talks with Aramco back on trackAs per the scheme of arrangement, Reliance’s oil-to-chemicals business consisting of its refining and petrochemicals assets, fuel retail (51 per cent in a JV with BP) and bulk wholesale marketing businesses will get hived off into a step-down subsidiary, to be initially wholly owned by RIL.
- Future Group creditors scramble to recover $2.5 bln loans amid Reliance deal woes: BankersFuture, which last year availed a loan moratorium amid the pandemic, has since defaulted on repayments. The defaults, coupled with the legal battle, are now forcing banks to seriously explore a one-time restructuring plan under an inter-creditor agreement signed last year.
- Amazon wanted $40 million to drop its 'right of first refusal': FutureThe homegrown retailer claimed that Abhijeet Mazumdar, head of corporate development and private investments at Amazon, had made a verbal offer to Future Group promoter Kishore Biyani on behalf of the e-tailer, asking for “$40 million as compensation in exchange for the Future Group and Reliance proceeding with the disputed transaction”.
- ONGC takes leaf out of Reliance's book, floats subsidiary to buy own gasONGC may use the new subsidiary to buy any new gas that the firm produces from fields such as KG-D5 in the Krishna Godavari basin, people with direct knowledge of the matter said. The government had in October 2020 allowed affiliates of gas producers to buy the fuel in open auction.
- M&A deal activity in 2020 jumps 33 pc to USD 36.9 billionThe year also saw nine other deals value over USD 1 billion each, it said, adding that the top deals accounted for nearly two-thirds of the overall activity.
- Amazon appeals to Supreme Court in Future deal dispute: SourcesAmazon, locked in legal disputes with Future, alleges the Indian firm violated contracts by agreeing to sell its retail assets to Reliance Industries last year. Future denies any wrongdoing.
- Explained: Why Amazon is feuding with its partner Future Group and billionaire Mukesh AmbaniJeff Bezos-led e-tailer accuses Future and its founder Kishore Biyani of flouting an interim order in Oct from a Singapore arbitration court that halted the asset sale.
- Jeff Bezos-Mukesh Ambani spat is testing India's allure for foreign investorsThe rulings come after two big arbitration awards against India. In September, international arbitrators said India acted unfairly in a $3 billion tax dispute with Vodafone and in another ruling ordered India to return $1.2 bn to Cairn for a similar failure. India has challenged the Vodafone ruling in Singapore, the govt has informed Parliament.
- Future Group challenges court order blocking its Reliance deal in dispute with AmazonThe single judge had said Tuesday that the emergency ruling of the Singapore International Arbitration Centre (SIAC) to halt the deal—until it decides on Amazon’s challenge against the plan—was enforceable in India.
DisclaimerThe content of this page has been aggregated from multiple websites. Some information can change over the passage of time.
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