Name: Mukesh Ambani
Birthdate: April 19, 1957
Famous Years: 1980-Present
Currently Known For: Richest Man in India
|Networth: $48.8 Billion||Famous For: Chairman of Reliance Industries|
Birthdate April 19, 1957
Famous Years 1980-Present
Currently Known For Richest Man in India
Networth $48.8 Billion
Famous For Chairman of Reliance Industries
Thanks to technology, it’s not only countries such as the United States or United Kingdom that dominate the global economy. Now, large countries such as China and India are seeing tremendous growth, and there have been many that have taken advantage of their opportunities. Perhaps nobody has seized that opportunity over the past decade or so more than Mukesh Ambani, who currently ranks as the richest man in all of India. Because of his business success, it’s unlikely that he’ll lose that spot anytime soon.
Ambani was born on April 19, 1957 in Aden, a former British colony now known as Yemen, though his family was from India. At only a year old, Ambani would move to India with his family where they struggled financially. Despite that, Ambani was a solid student when he was in Mumbai, and was accepted into the Institute of Chemical Technology. There, he would earn his Bachelor’s degree in chemical engineering, and then moved to the United States to attend Stanford University, though he never finished his Master’s degree.
The reason that Ambani wouldn’t finish his degree was because his father had started a company called Reliance Industries. His father had told him that real-life work experience was going to be more valuable than anything that he could learn in school, so he got to work with his father to finish out the 1970s. Within a couple of years, his father’s business would start to take off, and Ambani would become a beneficiary.
During the 1980s, Ambani and his brother would be left in charge of the company once his father had suffered a stroke. Thankfully for Ambani, he had been well prepared for the task, and expanded the company throughout the rest of the decade and into the 1990s. However, things would hit a snag between Ambani and his brother, Anil, after their father passed away in 2002. The two had to battle for power of Reliance without a will left by their father, and it was decided that Mukesh would gain control of the company.
Since then, Reliance Industries has been one of the leading companies in India, and was the first company from the country to reach over $100 billion in total capital. It sits around the 200th ranked business in the world, and has been instrumental in India’s global growth. There are now nearly 200,000 employees with Reliance Industries, along with several subsidiaries.
Some of the more successful business that Ambani’s company has operated includes Reliance Retail, which is the largest store in all of India. They’ve also opened everything from blood banks to logistical and solar services. Like most billionaires, Ambani has a very wide range of businesses in his portfolio, which has helped keep him very wealthy.
On top of his efforts with Reliance, Ambani has also served on the board of his alma mater (ICT of Mumbai), Indian Petrochemicals Corporation Limited and others. He’s won several awards for his business leadership over the years, though he’s been one of the more reserved billionaires around personally. He’s been described as being a shy person that isn’t very outspoken, which is why interviews with Ambani are so rare.
In the times that he does speak, however, Ambani has proven to be a very well-spoken man, which explains why he’s been so successful. The 61 year old has no plans of retiring soon, has spoken about his plans for the coming years. “It’s the thought of the future that drives me,” he said. “My obsession is with technology and how it can improve human life. In my view, what we have seen in the 300 years is only a trailer. The next 20 years will overshadow the last 300 years to the extent that we would not be able to fathom today.”
It’s estimated that there are just over 80 billionaires in all of India, but none come close to the net worth of Mukesh Ambani. Currently, it’s believed that Ambani has a net worth that’s over $48 billion, which puts him comfortably ahead of the likes of Dilip Shanghvi and Azim Premji in India, and he’s also been among the world’s richest people. Though he’s not currently in the top 10 of overall net worth in the world, he’s been there before.
Ambani would make his debut in the top 10 back in 2008 when his net worth soared to $43 billion as four men from India surprised many to climb into the rankings. At the time, Ambani wasn’t the highest in India, but would soon take the spot the next year when he was listed as the world’s seventh richest person and richest in India. His net worth had dropped to $19.5 billion in the wake of the global recession, but the title of India’s richest person was quite noteworthy.
In 2010, Ambani’s net worth would see a large rebound as he was estimated to be worth $29 billion, moving up the charts to the fourth spot in the world behind only Carlos Slim Helu, Bill Gates and Warren Buffett. In 2011, he was overtaken by five people as he dropped to ninth as his net worth sunk by $2 billion, and he hasn’t made the list since. Still, being the richest in India and within the top 30 in the world is quite remarkable.