The Story Of Mukesh Ambani, #1 India’s Richest Man – SkillVancer

Mukesh Ambani , the most successful Business tycoon of India. He is a Founder and Chairman of Reliance Industries. His full name is Mukesh Dhirubhai Ambani. He is an Indian Billionaire business magnate. And the managing director, and largest shareholder of Reliance Industries Ltd. (RIL). He is Asia’s richest person with a net worth of $51.4 B (2020). Ranked by Forbes as the #5^th wealthiest person in the world with a net worth of $88.8 B(2020) by surpassing others. Therefore, was appointed as a Director of Bank of America. And now became the first non-American to be on its board.

Early Life

Mukesh Ambani was born on 19 April 1957 in the British Crown colony of Aden (now Yemen). To Dhirubhai Ambani and his wife, Kokilaben Ambani. He has two sisters named Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaocar, and a younger brother, Anil Ambani. An Indian business tycoon and Chairman of Reliance Group.

Initially, his father Dhirubhai Ambani was a petrol pump attendant in Aden.  And in the year 1958, he decided to move back to India to start their trading spices business. They lived in a two-room house in Bhuleshwar, Mumbai. Later, Dhirubhai bought a 14- floor building (Sea Wind) in Colaba.

Education

On the other hand, he enrolled for an MBA from Stanford University but dropped out. In 1980 to help his father build Reliance. Above all, Ambani was highly influenced by his two teachers. Who taught him to think “out of the box”- William F. Sharpe and Manmohan Sharma.

Career

Mukesh Ambani completed his High School at Hill Grange High School at Peddar Road, Mumbai. After, that got admitted to St. Xavier’s College, Mumbai to complete his Senior Secondary Education. And, received a Bachelor’s degree in Chemical Engineering from the Institute of Chemical Technology.

Mukesh Ambani’s career started in 1981. After, he returned to India to help his father. To build Reliance Industries Limited. Soon the family business started expanding to refining, petrochemicals, retail, and telecommunications industries. Its subsidiary, Reliance Retail Ltd. is the largest retailer in India. 

• However, in 1980, the Indira Gandhi government started the PFY (Polyester Filament yarn). Then Reliance also submitted its claim for the license. And succeeded in getting a license between Tata, Birla, and 43 more veterans. In conclusion, Dhirubhai Ambani called the Mukesh Ambani to help him build his business. The company laid on the principle -” that everyone must contribute to the business and not the selected individuals“. And Under the Charismatic leadership of Mukesh Ambani, Reliance industries grew. And became one of the largest telecom companies in India.

•  After some years, his father passed away. Mukesh and his brother divided the business into two sections. Mukesh Ambani received Reliance Industries Limited and Indian Petrochemicals Corporation Limited. Under his guidance, the company built the world’s largest grassroots petroleum refinery at Jamnagar, India. however, has produced 660,000 barrels per day in the year 2010. 

HIS IMPORTANT ANNOUNCEMENTS and VENTURES:

• Firstly in December 2013, Mukesh Ambani announced a “collaborative venture” with Bharti Airtel. To set up a digital infrastructure for the 4G network in India.

• Secondly, on June 18, 2014, he announced an investment of Rs 1.8 trillion across businesses in the next three years. And launched 4G broadband services on December 27, 2015, internally. 

• Thirdly, on top of that in 2016, Jio launched its own 4G smartphone under the brand named ‘LYF‘. And it became India’s third-largest-selling mobile phone brand of that year. In conclusion, Reliance’s Jio has earned a top-five spot in the country’s telecommunication services.

Ambani’s achievements

• As of 2016, Ambani ranked 38TH. And has consistently held the title of India’s richest person on Forbes magazine’s list for the past 10 years. He is the only Indian businessman on Forbes‘ list of the world’s most powerful people.
• However, in January 2018, Mukesh Ambani ranked by Forbes as the 18th-wealthiest person in the world. Likewise, he surpassed Jack Ma, executive chairman of Alibaba Group.
• To become Asia’s richest person with a net worth of $44.3 billion in July 2018. Finally, now is the wealthiest person in the world. And outside North America and Europe. Finally, As of 2015, Ambani ranked 5th among India’s philanthropists. 

• Therefore, he owned the IPL franchise Mumbai Indians. And is the founder of the Indian Super League, a football league in India.
• Likewise, in 2012, Forbes named him one of the richest sports owners in the world. Most importantly, He resides at the Antilia Building. Above all one of the world’s most expensive private residences with its value reaching $1 billion.

Personal life

Mukesh Ambani got married to Nita Ambani in 1985. Currently, she is the chairperson of the company. The couple has blessed with three children. Fortunately, they have two boys, Anant and Akash Ambani, and a daughter, Isha. Surprisingly, their marriage was an arranged one from Mukesh’s father. The family resides in a 27-story private apartment– Antilia, worth $1 bn USD. The building has 600 staff members for its maintenance. Has three helipads, a 160-car garage, a private movie theatre, a swimming pool, and a fitness center. Interestingly, Mukesh Ambani’s favorite food is Idli Sambhar. Particularly, his favorite restaurant is Mysore Cafe, Mumbai. Initially, where he used to eat during his college time.

Awards

• In the year 2000, awarded ‘Ernst & Young Entrepreneur of the Year’ by Ernst & Young India. 
• Honoured with ‘Global Vision Award at The Awards Dinner’ by Asia Society in 2010.
• Again, in the year 2010, awarded ‘Business Leader of the Year’ by NDTV India.
• Honoured as the ‘Businessman of the Year’ by Financial Chronicle in 2010.
• In the year 2010, awarded ‘School of Engineering and Applied Science Dean’s Medal’ by the University of Pennsylvania.
• In the year 2010, ranked ‘5th-best performing global CEO’ by Harvard Business Review.
• Received the ‘Global Leadership Award’ from the Business Council for International Understanding.
• In 2010, he received ‘Honorary Doctorate (Doctor of Science)’ by M. S. University of Baroda.
• In 2013, he received ‘Millennium Business Leader of the Decade’ at India Leadership Conclave & Indian Affairs Business Leadership Awards. 
• 2016, honoured as ‘Foreign associate, U.S. National Academy of Engineering’ by the National Academy of Engineering. 
• Finally, In the year 2016, ‘Othmer Gold Medal’ from Chemical Heritage Foundation. 

Prerna

See author's posts