Mukesh Ambani is the Chairman and Managing Director of Reliance Industries Limited (RIL). He is known as the richest person in Asia with a net worth of 87.8 billion USD. He is ranked 13th in the world’s richest people list and has surpassed Jack Ma, the founder of Alibaba, to become Asia’s number one.
Early life
He was born on April 19, 1957 in Aden, Yemen. His father, Dhirubhai Ambani, relocated the family to the Bahuleshwar neighborhood of Mumbai in 1958. There, Dhirubhai and his cousin Champaklal Damani laid the foundation for Reliance Commercial Corporation, which has since grown into RIL.
Education
He started his education at Hill Grange High School in Pedder Road, Mumbai. After completing his schooling, he joined St. Xavier College in Mumbai, where he earned his bachelor’s degree in Chemical Engineering. He then enrolled in Stanford University to pursue a master’s degree in Business Administration. However, due to a family emergency in 1981, he had to quit his studies and join the family business.
Business Startup
In 1980, when Indira Gandhi opened up the Polyester Filament Yarn (PFY) industry to the private sector, the father of the protagonist of this story obtained a license and started a yarn production business. The business grew rapidly, and in 1981, the protagonist dropped out of his master’s degree to join his father’s business, where he gained practical experience in yarn manufacturing. Over time, the business expanded to include refining, petrochemicals, retail, and telecommunication services.
Father’s death and Control of RIL
After his father’s passing on July 6, 2002, Ambani gained control of RIL and India Petrochemical Limited. In 2010, they established a petroleum refinery in Jamnagar, which is now the world’s largest with a capacity of 33 million tons per year.
Purchasing of Mumbai Indians
In 2008, he purchased the Mumbai Indians cricket team for $111.9 million. Since then, the team has grown in value to $1.3 billion, with a revenue of $33 million, making him the world’s richest sports team owner.
Launching of 4G service in India
In 2015 Ambani invested 18 trillion rupees to launch the 4G broad band service in the coming 3 years. He states:
“Anything and everything that can go digital is going digital India cannot afford to left behind”
Launching of Jio
In 2015, he founded LYF, also known as Jio, which produced smartphones, laptops, and other electronics, along with Jio 4G services. By the end of the year, Jio had become the fifth largest smartphone producer in India.
Launching of 5G in India
On August 20, 2022, Mukesh Ambani announced a $25 billion investment to launch 5G mobile internet services across India, according to BBC.
Purchasingof IPL media rights
The Indian Premier League, which is considered as the world’s richest cricket competition, has sold its TV and streaming rights for the next five years at a record price of $6.02 billion. Viacom18, which is backed by Indian billionaire Mukesh Ambani, has secured the streaming rights until 2027 for $3.05 billion.
Mukesh Ambani and Mark Zuckerberg
Reliance Industries’ Jio Platforms and Meta Platforms’ Facebook are teaming up to launch a grocery delivery app using WhatsApp messaging service as billionaires Mukesh Ambani and Mark Zuckerberg expand their digital footprint in India.
Disney Deal
Reliance and Disney are reportedly in talks for a multi-billion dollar deal that would give Reliance a controlling stake in Disney’s Indian business.
Antilia
Antilia, located in South Mumbai, is the world’s most expensive residential property, worth $1 billion. It consists of 27 stories and employs over 600 staff members.
Awards
Mukesh mbani recieved the following awards
Ernst & Young Entrepreneur of the Year
Global Vision Award at The Awards Dinner
School of Engineering and Applied Science Dean’s Medal
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