India's Richest Person Mukesh Ambani's Net Worth and Family

Mukesh Ambani's Net Worth: Richest Indian for Past 15 Years

Have you ever wondered how some people became so rich? One such person is Indian business billionaire Mukesh Ambani, the world's 13th Richest person with a net worth of $95.7 Billion, whose staggering personal wealth has made headlines. Mukesh Ambani is a corporate legend with a diversified portfolio, including Reliance Industries Limited. 

Powerhouse Reliance Industries rules petrochemicals, oil and gas, communications, retail, and finance. Several things contributed to his extraordinary rise to great riches, including the success of his father and the transfer of his money to him. In today's article, we will uncover Mukesh Ambani's net worth and multiple businesses.

Key Highlights

  • The yarn merchant Dhirubhai Ambani founded Reliance in 1966 as a tiny textile company. 

  • After their father died in 2002, Ambani and Anil split the family enterprise.

  • Jio has 450 million users. Jio Financial Services debuted spectacularly in August 2023.

  • Three Ambani children joined Reliance's board in August 2023. 

  • Anant drives electricity, Isha oversees retail and financial services, and Akash controls Jio.

Overview of Mukesh Ambani's Net Worth

After their father passed away, the Ambani children received an endowment of $42 billion. Although it's simple to whine that riches passed down through generations are unearned, maintaining it is a feat. This was evident when brother Anil Ambani revealed that his net worth had decreased to nothing, demonstrating that not all family members are equally skilled in business.

The COVID-19 shutdown raised Mukesh Ambani's net worth to $100 billion. In addition to the two brothers, sister Nina Kothari is a successful Indian entrepreneur with an undisclosed net worth. The youngest sibling, Deepti Salgaonkar, lives in a million-dollar mansion. Their combined wealth makes them one of the world's wealthiest families. Unlike the Waltons, the Ambanis have a $100 billion wealth difference. Inheriting privilege does not guarantee longevity.

Mukesh Ambani's Life, Family, and His Business Empire

Age: 66 Years

Net worth: $95.7 B   

Global Rank: 13th Richest

Source of Wealth: Reliance Industries Ltd

Meet Mukesh Dhirubhai Ambani, the brilliant Indian billionaire and Asia's wealthiest individual. He holds the prestigious positions of chairman and managing director at Reliance Industries. He commands the mighty Reliance Industries, a $110 billion empire spanning petrochemicals, oil and gas, telecom, retail, and financial services.

Early Life

Mukesh Ambani was born into a thriving Gujarati Hindu family in the British Crown colony of Aden (present-day Yemen) on April 19, 1957. His younger brother, Anil Ambani, has two wonderful sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaonkar.

In 1958, Dhirubhai Ambani returned to India and established a commercial company specializing in textiles and spices. For the uninitiated, his apparel line was formerly called Only Vimal but was subsequently renamed Vimal.

Family

Mukesh Ambani and his family occupied a two-bedroom flat in Bhuleshwar, Mumbai, in the 1970s. Ultimately, the 14-story condominium complex Sea Wind in Mumbai's Colaba district was bought out by Dhirubhai Ambani.

Mukesh Ambani wed Nita Ambani in 1985. The couple has a daughter named Isha and two boys named Akash and Anant. Their mansion, Antilia, is a private 27-story structure located in Mumbai. It was the most expensive private property globally, estimated at US$1 billion when constructed.

Education

Mukesh Ambani attended Peddar Road's Hill Grange High School in Mumbai. He was a student at the school along with his brother, where Anand Jain eventually became a close friend. The millionaire graduated from St. Xavier's College and later earned a BE in chemical engineering from the Institute of Chemical Technology. After earning his MBA at Stanford, he left school in 1980 to assist his father in founding Reliance.

Career

In 1966, Mukesh Ambani's late father, yarn dealer Dhirubhai Ambani, established Reliance as a modest textile factory. To help his father, Dhirubhai Ambani, manage the family business Reliance Industries Limited, he moved to India in 1981. After their father died in 2002, Ambani and his younger brother Anil split up the family firm.

Editor Picks: Why Is the India Middle-East Europe Economic Corridor Important?

Mukesh Ambani Business

The list of Mukesh Ambani's businesses is shown below.

                                                     

Petrochemical Industry

Petrochemical or refinery is Mukesh Ambani Ji's most prominent business. This business is a cash cow for Mukesh Ambani. Reliance Company refines and exports crude oil to the Gulf and other countries. Reliance Group operates refineries and sells gasoline and diesel at its petrol stations in India.

Telecom Enterprise

Telecom is the second-most valuable reliance basket industry. With Bharti Airtel, Jio Telecom is India's largest telecom. The telecom sector's ARPU has practically quadrupled from less than Rs. 100. After launching Jio in September 2016, Reliance joined the telecom business. Via its Jio Fiber firm, Jio Sim offers internet services to consumers and companies in addition to its mobile network.

Business in Agriculture

Agriculture is one of Mukesh Ambani's biggest and most profitable businesses. In a shareholder meeting, Reliance said it exports the most Indian mangoes. Besides fruits, it trades various agricultural products. Besides exporting, it sells locally under the Reliance Fresh brand.

Online Retailer

Reliance has made a new entry into the e-commerce sector. Reliance is involved in nearly all the leading e-commerce revenue- and profit-generating sectors via its numerous businesses, online brands, and platforms. A few e-commerce brands include Netmeds, Jio Mart, and AJIO.

Digital Media and Television Industry

This business is handled by Network 18 and Media 18. Under this firm, Mukesh Ambani runs CNBC, MoneyControl, History TV 18, Colors TV 18, News 18, and others. Hathway and Den Networks also rely heavily on dependability in the TV broadcasting business.

Internet-Based Service Enterprise

The Reliance Group is also a significant player in the internet service industry, operating under brands including Justdial, Bookmyshow, and Urban Laddar. These businesses are a part of Reliance Empire's internet services division.

Chain Store Supermarket Enterprise

In addition to its strong internet presence, the Reliance Group is equally active offline. Here are some of Reliance Group's offline projects in several areas. Reliance Digita, Reliance Fresh, Reliance Smart Bazar (previously Big Bazar), Reliance Digital, and Reliance Retail are supermarket chain companies.

Textile Business: 

The Reliance Group is also quite involved in the textile industry, operating under several brands, including Vimal. Textile items are sold online and through physical shops, such as Ajio and Reliance Trends.

Digital Platform Enterprise

As everyone knows, the Jio sim has many other benefits like Jio Saavan, Jio TV, Jio Cinema, Jio Clouds, and many more. Each of these is a component of Reliance's digital enterprise.

How did Mukesh Ambani become so Rich?

Mukesh Ambani is the Chairman of Reliance Industries and runs a $110 billion (revenue) company, which has branches in petrochemicals, oil and gas, telecom, retail, and financial services. Reliance was initially founded by his late father, Dhirubhai Ambani, a yarn trader, in 1966 as a small textile manufacturer; that's when he registered Reliance Textiles.

Dhirubhai Ambani's Legacy

Indian businessman Dhirubhai Ambani founded Reliance Industries and was Mukesh's father. Dhirubhai Ambani's entrepreneurial energy and innovative leadership helped build Reliance Industries into India's largest company. He transformed the Indian textile business and entered petrochemicals, refining, and telecoms.

Passing of Fortune

After Dhirubhai Ambani's 2002 death, his sons Mukesh and Anil inherited his riches. As per their father's desires, Mukesh Ambani ran Reliance Industries while Anil inherited other Reliance Group businesses. Mukesh Ambani expanded and diversified the firm throughout this shift, resulting in significant growth and riches.

Mukesh Ambani's Entrepreneurship

While his father's riches gave Mukesh Ambani a firm platform, his entrepreneurial skills, and strategic vision helped him build fortunes. Mukesh Ambani has shown remarkable leadership, inventive thinking, and commercial acumen as Reliance Industries chairman. Reliance Industries has grown into telecommunications, retail, petrochemicals, and digital services under his leadership.

Mukesh Ambani made $22 billion in 2020 by selling a minority stake in Jio. His riches gained immense fame due to Bill Gates, Jeff Bezos, and Mark Zuckerberg, who were involved in this transaction.

In preparation for global 5G connectivity, Google has promised $10 billion to update its services over the coming years. This kind of expansionist thinking drove Ambani's riches to unprecedented levels.

Petrochemicals and oil were only the starting point; Mukesh was responsible for many significant purchases that solidified his status as a local superstar. With the launch of India's largest 4G network and the opening of 700 grocery shops, he caused a cellular pricing war and quickly attracted 400 million users. 

Current Net Worth of Mukesh Ambani

  • Mukesh Ambani is the richest Asian and 13th richest in the world, with a $95.7 billion net worth in December 2023. His diverse companies in oil and gas, petrochemicals, telecom, retail, and digital services make him rich. 

  • He owns the Mumbai Indians cricket team and invests in startups and media. In 2022, Gautam Adani took the Forbes India Rich List top spot, but Ambani returned in 2023.

  • Due to Reliance Industries' 64% share price growth in 2023, Ambani's net wealth rose by $53 billion.

  • Ambani's digital wing, Jio Platforms, which offers mobile, internet, e-commerce, and cloud services, also launched well. In 2023, Facebook, Google, and Silver Lake Partners invested $20 billion in Jio Platforms.

  • Innovation, philanthropy, and ambition define Ambani. He is establishing the biggest renewable project in Gujarat to produce 100 gigawatts of electricity from solar and wind by 2030. His family foundation contributes to education, health, sports, and culture.

Related Articles: Unveiling the Secrets Behind the Surging Indian Stock Market

What Is the Role of Ambani's Family in His Business?

Let's discover how Mukesh Ambani's family takes part in his business.

Mukesh Ambani's Children

Mukesh Ambani's kids, Isha, Akash, and Anant, are future entrepreneurs of Reliance. Isha and Akash play essential roles in Reliance's ventures, including Jio. Isha and Akash sealed deals with Facebook, Google, Qualcomm, and Intel. As important players in Reliance, what specific roles do they fulfill? Get ready for the scoop on the Ambani heirs!

ISHA AMBANI:

The elder twin joined Jio and Reliance Retail as a director in 2014. She is an advisory and board director at Reliance Foundation and Reliance Jio. Isha Ambani's influence has grown in the past two years. She was a key Facebook negotiator for a 9.99% Jio Platforms stake.

Isha Ambani and Akash visited Facebook's California headquarters last year for negotiations. RIL released Isha's response after Reliance Retail Ventures bought Future Group's businesses for Rs 24,713 crore.

Isha inspired Jio. Jio was formed in 2016 due to slow internet complaints. She owns Ajio, a famous online fashion brand. Isha Ambani runs JioMart. Isha founded Reliance Arts Foundation. 

Ambani's daughter markets Reliance Jio and Retail. Isha Ambani studied psychology and South Asian studies at Yale. She joined McKinsey as a business analyst after Yale. Isha Ambani studied for an MBA from Stanford. She wed Anand Piramal.

AKASH AMBANI:

The oldest son is on the executive committee and the director and strategy head at Reliance Jio. He joined the firm in 2014, just like his twin sister. Akash serves on Reliance Jio's boards and Executive Committee. Akash works on Reliance Jio's products and services. He is crucial to Mumbai Indians' IPL success. 

Akash plays in the ISL, the football equivalent of the IPL. He assisted Reliance in making a deal with IT giants and Isha Ambani. Akash transferred from Dhirubhai Ambani International School to Brown University. He studied economics and business at Brown. He wed Shloka Mehta.

ANANT AMBANI:

The youngest member is an Additional Director on the Jio Platforms board. Anant has been promoted within the Empire. Anant works at the Jamnagar refinery. The younger heir is being prepared for higher social positions. Ambanis joined the Shri Badrinath - Kedarnath Temple Committee after being invited by the Uttarakhand government. 

Daughters-in-Law

Mukesh Ambani's daughters-in-law are working in the family company.

Shloka Mehta

Akash Ambani's wife, Shloka Mehta, has participated in charitable endeavors via the Reliance Foundation. She has contributed to several social programs that have improved rural development, healthcare, education, and other sectors.

Radhika Merchant

Radhika Merchant, linked to Anant Ambani, is known for her involvement in social causes. While her role within Reliance Industries is not publicly disclosed, she actively participates in various events and initiatives the company organizes.

Is Mukesh Ambani the richest person in India?

Mukesh Ambani's wealth is an astonishing USD 95.6 Billion. The world's richest list has placed him in position 13. Gautam Adani narrowly missed out on being in the top slot as Mukesh Ambani moved to second place from fourth. Adani Group Chairman Gautam Adani faced a significant setback after the Hindenburg report. Adani has a net worth of $68 billion right now. 

Final Words

So there you have it - Mukesh Ambani's net worth and business. Mukesh Ambani became wealthy for several reasons. His father's Reliance Industries success paved the way for him. Transferring his father's riches allowed him to lead and build the firm. Sons, daughters, and daughters-in-law assist Mukesh Ambani in business. They create and shape digital services and give back to the family business. Mukesh Ambani's riches have come from his business skills and intelligent decision-making.

FAQs

What was Mukesh Ambani's background before becoming successful?

Mukesh Ambani came from an ordinary home in Mumbai, belonging to a lower-middle-income family. He was of low means, utilizing commuter rails. As a young man, he struggled with money.

What are some of Mukesh Ambani's surprising habits?

Mukesh Ambani is known to have certain unique habits. For instance, he reportedly asks his driver to stop the car on the road to pick up fallen coins as a reminder of the value of money.

Is there a succession plan for Mukesh Ambani's business empire?

Yes, Mukesh Ambani's firm has a succession plan. His children, Isha, Akash, and Anant Ambani, are involved in the family company and are anticipated to take over significant responsibilities.

Has Mukesh Ambani faced any regulatory issues or fines?

Yes, Mukesh Ambani and Reliance Industries have had regulatory troubles. In 2021, SEBI fined Mukesh Ambani and Reliance Industries ₹25 crore for exceeding the stake ownership limit in a firm.

Suggested Article:

11 Dec, 2023

0 Comments

Add a comment

Why Is Tax Season Very Important for Stock Market Investors? |  Why Is There No Tax in UAE? How Dubai Makes Money with No Tax? |  Fastest Growing Industries in India 2024: Booming Indian Sectors |  Top Tech Companies List: Top 10 Largest Tech Giants Worldwide |