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Mukesh Ambani

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Mukesh Ambani
Mukesh Ambani.jpg
Ambani in 2007
Born
Mukesh Dhirubhai Ambani

(1957-04-19) 19 April 1957 (age 65)
NationalityIndian
Alma mater
OccupationChairman and MD, Reliance Industries
Spouse
(m. 1985)
[3]
Children3, including Akash Ambani
Parent
RelativesAnil Ambani (brother)
Tina Ambani (sister-in-law)

Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian billionaire businessman. He is the chairman and managing director of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India's most valuable company by market value.[4] According to Forbes and Bloomberg Billionaires Index, Ambani's net worth is estimated at US$88.4 billion as of 25 November 2022, making him the second richest person in Asia after Gautam Adani and the 9th richest in the world.[5][6][7][8]

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Billionaire

Billionaire

A billionaire is a person with a net worth of at least one billion units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American business magazine Forbes produces a global list of known U.S. dollar billionaires every year and updates an Internet version of this list in real time. The American oil magnate John D. Rockefeller became the world's first confirmed U.S. dollar billionaire in 1916.

Fortune Global 500

Fortune Global 500

The Fortune Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine.

Market value

Market value

Market value or OMV is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and differ in some circumstances.

Forbes

Forbes

Forbes is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. Forbes also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include Fortune and Bloomberg Businessweek. Forbes has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide.

Bloomberg Billionaires Index

Bloomberg Billionaires Index

The Bloomberg Billionaires Index, launched in March 2012, is a daily ranking of the world's 500 richest people based on their net worth. It draws information from "action in the stock market, economic indicators and news reports," features a profile of each billionaire, and includes a tool that allows users to compare the fortunes of multiple billionaires. The index is updated every day at the close of trading in New York.

Asia

Asia

Asia is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area of 44,579,000 square kilometres (17,212,000 sq mi), about 30% of Earth's total land area and 8.7% of Earth's total surface area. The continent, which has long been home to the majority of the human population, was the site of many of the first civilizations. Its 4.7 billion people constitute roughly 60% of the world's population.

Gautam Adani

Gautam Adani

Gautam Shantilal Adani is an Indian billionaire industrialist. He is the chairman and founder of Adani Group, an Ahmedabad-based multinational conglomerate involved in port development and operations in India. Adani is also the president of Adani Foundation, which is primarily led by his wife, Priti Adani. As of November 2022, with a net worth of US$138.1 billion according to Forbes and $133 billion according to Bloomberg, he is the richest person in Asia and the third richest person in the world.

Early life

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

Ambani lived only briefly in Yemen because his father decided to move back to India in 1958[9] to start a trading business that focused on spices and textiles. The latter was originally named "Vimal" but later changed to "Only Vimal".[10][11] His family lived in a modest two-bedroom apartment in Bhuleshwar, Mumbai until the 1970s.[12] The family's financial status slightly improved when they moved to India but Ambani still lived in a communal society, used public transportation, and never received an allowance.[13] Dhirubhai later purchased a 14-floor apartment block called 'Sea Wind' in Colaba, where, until recently, Ambani and his brother lived with their families on different floors.[14]

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Crown colony

Crown colony

A Crown colony or royal colony was a colony administered by The Crown within the British Empire. There was usually a Governor, appointed by the monarch of the UK on the advice of the Home (UK) Government, with or without the assistance of a local Council. In some cases, this Council was split into two: an Executive Council and a Legislative Council, and was similar to the Privy Council that advises the Monarch. Members of Executive Councils were appointed by the Governors, and British citizens resident in Crown colonies either had no representation in local government, or limited representation. In several Crown colonies, this limited representation grew over time. As the House of Commons of the British Parliament has never included seats for any of the colonies, there was no direct representation in the sovereign government for British subjects or citizens residing in Crown colonies.

Yemen

Yemen

Yemen, officially the Republic of Yemen, is a country in Western Asia. It is situated on the southern end of the Arabian Peninsula, and borders Saudi Arabia to the north and Oman to the northeast and shares maritime borders with Eritrea, Djibouti, and Somalia. Yemen is the second-largest Arab sovereign state in the peninsula, occupying 555,000 square kilometres, with a coastline stretching about 2,000 kilometres. Its constitutionally stated capital, and largest city, is Sanaa. As of 2021, Yemen has an estimated population of some 30.4 million.

Gujarati people

Gujarati people

The Gujarati people or Gujaratis, are an Indo-Aryan ethnolinguistic group who reside in or can trace their ancestry or heritage to the present-day western Indian state of Gujarat. They primarily speak Gujarati, an Indo-Aryan language. While Gujaratis mainly inhabit Gujarat, they have a diaspora worldwide. Gujaratis in India and the diaspora are prominent entrepreneurs and industrialists and maintain high levels of social capital. Many notable independence activists were Gujarati, including Gandhi, Patel, and Jinnah, as well as the current Prime Minister of India, Narendra Modi.

Hindus

Hindus

Hindus are people who religiously adhere to Hinduism. Historically, the term has also been used as a geographical, cultural, and later religious identifier for people living in the Indian subcontinent.

Dhirubhai Ambani

Dhirubhai Ambani

Dhirajlal Hirachand Ambani, popularly known as Dhirubhai Ambani, was an Indian business tycoon who founded Reliance Industries. Ambani took Reliance public in 1977 and was worth US$2.9 billion in 2002 upon his death. In 2016, he was honoured posthumously with the Padma Vibhushan, India's second-highest civilian honour for his contributions to trade and industry.

Anil Ambani

Anil Ambani

Anil Dhirubhai Ambani is an Indian businessman. He was the chairman of Reliance Group, which was created in July 2006 following a demerger from Reliance Industries Limited. He leads a number of stocks listed corporations including Reliance Capital, Reliance Infrastructure, Reliance Power and Reliance Communications. Ambani, once the sixth richest person in the world, declared before a UK court in February 2020 that his net worth is zero and he is bankrupt, although the veracity of that claim is in question. He served in the Rajya Sabha, the upper house of the Parliament of India from Uttar Pradesh as an Independent MP between 2004 and 2006.

Bhuleshwar

Bhuleshwar

Bhuleshwar is a neighbourhood in Mumbai. It is situated in South Mumbai and to the north of the Fort area. It is known for being home to over 100 temples including Mumba Devi Temple of Mumbai, the patron goddess of the city of Mumbai and Swaminarayan Mandir. The area is also known for the Bhuleshwar Market for fruit and vegetable and is surrounded a number of old markets, like the Crawford Market for fruits and vegetables, Mangaldas Market for silk and cloth, Zaveri Bazaar, the famous jewellery and diamond market and Chor Bazaar, a noted market for antiques and furniture.

Mumbai

Mumbai

Mumbai is the capital city of the Indian state of Maharashtra and the de facto financial centre of India. According to the United Nations, as of 2018, Mumbai is the second-most populous city in India after Delhi and the eighth-most populous city in the world with a population of roughly 20 million. As per the Indian government population census of 2011, Mumbai was the most populous city in India with an estimated city proper population of 12.5 million (1.25 crore) living under the Brihanmumbai Municipal Corporation. Mumbai is the centre of the Mumbai Metropolitan Region, the sixth most populous metropolitan area in the world with a population of over 23 million. Mumbai lies on the Konkan coast on the west coast of India and has a deep natural harbour. In 2008, Mumbai was named an alpha world city. It has the highest number of millionaires and billionaires among all cities in India.

Public transport

Public transport

Public transport is a system of transport for passengers by group travel systems available for use by the general public unlike private transport, typically managed on a schedule, operated on established routes, and that charge a posted fee for each trip. There is no rigid definition; the Encyclopædia Britannica specifies that public transportation is within urban areas, and air travel is often not thought of when discussing public transport—dictionaries use wording like "buses, trains, etc." Examples of public transport include city buses, trolleybuses, trams and passenger trains, rapid transit and ferries. Public transport between cities is dominated by airlines, coaches, and intercity rail. High-speed rail networks are being developed in many parts of the world.

Colaba

Colaba

Colaba is a part of the city of Mumbai, India. It is one of the four peninsulas of Mumbai while the other three are Worli, Bandra and Malabar Hill. During Portuguese rule in the 16th century, the island was known as Kolbhat. After the British took over the island in the late 17th century, it was known as Kolio.

Education

Ambani attended the Hill Grange High School at Peddar Road, Mumbai, along with his brother and Anand Jain, who later became his close associate.[15] After his secondary schooling, he studied at St. Xavier's College, Mumbai.[16] He then received a BE degree in chemical engineering from the Institute of Chemical Technology.[17][18]

Ambani later enrolled for an MBA at Stanford University but withdrew in 1980 to help his father build Reliance, which at the time was still a small but fast-growing enterprise.[17] His father felt that real-life skills were harnessed through experiences and not by sitting in a classroom, so he called his son back to India from Stanford to take command of a yarn manufacturing project in his company.[13]

Ambani has been quoted as saying that he was influenced by his teachers William F. Sharpe and Man Mohan Sharma because they are "the kind of professors who made you think out of the box."[17]

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Hill Grange High School

Hill Grange High School

Hill Grange High School was a private school for boys and girls located on Pedder Road, Mumbai, Maharashtra, India.

Mumbai

Mumbai

Mumbai is the capital city of the Indian state of Maharashtra and the de facto financial centre of India. According to the United Nations, as of 2018, Mumbai is the second-most populous city in India after Delhi and the eighth-most populous city in the world with a population of roughly 20 million. As per the Indian government population census of 2011, Mumbai was the most populous city in India with an estimated city proper population of 12.5 million (1.25 crore) living under the Brihanmumbai Municipal Corporation. Mumbai is the centre of the Mumbai Metropolitan Region, the sixth most populous metropolitan area in the world with a population of over 23 million. Mumbai lies on the Konkan coast on the west coast of India and has a deep natural harbour. In 2008, Mumbai was named an alpha world city. It has the highest number of millionaires and billionaires among all cities in India.

Anand Jain

Anand Jain

Anand Jain is an Indian business executive. He is the Chairman of Jai Corp Limited, Urban Infrastructure Venture Capital Limited. He has 30 years of experience in various businesses, with an expertise in real estate, finance and capital markets and often considered as third son of Dhirubhai Ambani

St. Xavier's College, Mumbai

St. Xavier's College, Mumbai

St. Xavier's College is a private, Catholic, autonomous higher education institution run by the Bombay Province of the Society of Jesus in Mumbai, Maharashtra, India. It was founded by the Jesuits on January 2, 1869. The college is affiliated with the University of Mumbai offering undergraduate and postgraduate courses in Arts, Science, Commerce and Management. Xavier's was the first college to be granted autonomy by the University of Mumbai in 2010. In 2006, St. Xavier's was awarded the 'A+' grade by National Assessment and Accreditation Council (NAAC).

Bachelor of Engineering

Bachelor of Engineering

A Bachelor of Engineering or a Bachelor of Science in Engineering (BSE) is an academic undergraduate degree awarded to a student after three to five years of studying engineering at an accredited college or university.

Chemical engineering

Chemical engineering

Chemical engineering is an engineering field which deals with the study of operation and design of chemical plants as well as methods of improving production. Chemical engineers develop economical commercial processes to convert raw materials into useful products. Chemical engineering uses principles of chemistry, physics, mathematics, biology, and economics to efficiently use, produce, design, transport and transform energy and materials. The work of chemical engineers can range from the utilization of nanotechnology and nanomaterials in the laboratory to large-scale industrial processes that convert chemicals, raw materials, living cells, microorganisms, and energy into useful forms and products. Chemical engineers are involved in many aspects of plant design and operation, including safety and hazard assessments, process design and analysis, modeling, control engineering, chemical reaction engineering, nuclear engineering, biological engineering, construction specification, and operating instructions.

Institute of Chemical Technology

Institute of Chemical Technology

Institute of Chemical Technology (ICT) is a state-funded deemed university in Mumbai, India. The institute also has campuses at Bhubaneswar, Odisha and Jalna, Marathwada. It is focused on training and research in the fields of chemical engineering, chemical technology, and pharmacy. It was established in 1933 and was granted deemed university status in 2008, making it the only state-funded deemed university in India. On 12 February 2018 it was given the status of Category 1 institute with graded autonomy by the Ministry of Human Resource Development and the University Grants Commission (India). It is also an institute with a special status as mentioned in SECTION IV of the Report of the Empowered Expert Committee in 2018.

Master of Business Administration

Master of Business Administration

A Master of Business Administration is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounting, applied statistics, human resources, business communication, business ethics, business law, strategic management, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and operations management in a manner most relevant to management analysis and strategy. It originated in the United States in the early 20th century when the country industrialized and companies sought scientific management.

Stanford University

Stanford University

Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies 8,180 acres, among the largest in the United States, and enrolls over 17,000 students. Stanford is ranked among the top universities in the world.

William F. Sharpe

William F. Sharpe

William Forsyth Sharpe is an American economist. He is the STANCO 25 Professor of Finance, Emeritus at Stanford University's Graduate School of Business, and the winner of the 1990 Nobel Memorial Prize in Economic Sciences.

Man Mohan Sharma

Man Mohan Sharma

Man Mohan Sharma FREng is an Indian chemical engineer. He was educated at Jodhpur, Mumbai, and Cambridge. At age 27, he was appointed Professor of Chemical Engineering in the Institute of Chemical Technology, Mumbai. He later went on to become the Director of UDCT, the first chemical engineering professor to do so from UDCT.

Career

In 1981 he started to help his father Dhirubhai Ambani run their family business, Reliance Industries Limited. By this time, it had already expanded so that it also dealt in refining and petrochemicals. The business also included products and services in the retail and telecommunications industries. Reliance Retail Ltd., another subsidiary, is also the largest retailer in India.[19] Reliance's Jio has earned a top-five spot in the country's telecommunication services since its public launch on 5 September 2016.

As of 2016, Ambani was ranked as the 36th richest person in the world, and has consistently held the title of India's richest person on Forbes magazine's list for the past ten years.[20] He is the only Indian businessman on Forbes' list of the world's most powerful people.[21] As of October 2020, Mukesh Ambani was ranked by Forbes as the 6th-wealthiest person in the world.[22] 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. He is also the wealthiest person in the world outside North America and Europe.[23] As of 2015, Ambani ranked fifth among India's philanthropists, according to China's Hurun Research Institute.[24] He was appointed as a Director of Bank of America and became the first non-American to be on its board.[25]

Through Reliance, he also owns the Indian Premier League franchise Mumbai Indians and is the founder of the Indian Super League, a football league in India.[26] In 2012, Forbes named him one of the richest sports owners in the world.[27] He resides at the Antilia Building, one of the world's most expensive private residences with its value reaching $1 billion.[28]

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Petrochemical

Petrochemical

Petrochemicals are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as maize, palm fruit or sugar cane.

Reliance Retail

Reliance Retail

Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries Limited. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. Apart from physical outlets, the company also sells products on its e-commerce channels. It has 280,000 employees with profit of $1 billion. Total stores have 16,700 employees till October 2022. Reliance Retail valuation amounts to $150 billion.

Jio

Jio

Reliance Jio Infocomm Limited, doing business as Jio, is an Indian telecommunications company and a subsidiary of Jio Platforms, headquartered in Navi Mumbai, Maharashtra, India. It operates a national LTE network with coverage across all 22 telecom circles. Currently, Jio offers 4G and 4G+ services all over India and 5G service in selected cities. Its 6G services are in the works.

Forbes

Forbes

Forbes is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. Forbes also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include Fortune and Bloomberg Businessweek. Forbes has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide.

Jack Ma

Jack Ma

Jack Ma Yun is a Chinese business magnate, investor and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. In addition, he co-founded Yunfeng Capital, a Chinese private equity firm. As of November 2022, with a net worth of $30.3 billion, Ma is the fourth-wealthiest person in China, as well as the 36th wealthiest person in the world, ranked by Bloomberg Billionaires Index.

Alibaba Group

Alibaba Group

Alibaba Group Holding Limited, also known as Alibaba, is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology. Founded on 28 June 1999 in Hangzhou, Zhejiang, the company provides consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales services via web portals, as well as electronic payment services, shopping search engines, and cloud computing services. It owns and operates a diverse portfolio of companies around the world in numerous business sectors.

Bank of America

Bank of America

The Bank of America Corporation is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank was founded in San Francisco and took its present form when NationsBank of Charlotte acquired it in 1998. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second largest bank in the world by market capitalization. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

Indian Premier League

Indian Premier League

The Indian Premier League (IPL), also known as TATA IPL for sponsorship reasons, is a men's T20 franchise cricket league of India. It is annually contested by ten teams based out of seven Indian cities and three Indian states. The league was founded by the Board of Control for Cricket in India (BCCI) in 2007. Brijesh Patel is the incumbent chairman of IPL. It is usually held annually in summer across India between March to May and has an exclusive window in the ICC Future Tours Programme.

Mumbai Indians

Mumbai Indians

Mumbai Indians are a franchise cricket team based in Mumbai, Maharashtra, that competes in the Indian Premier League and is most successful team of the tournament with 5 titles. Founded in 2008, the team is owned by India's biggest conglomerate, Reliance Industries, through its 100% subsidiary IndiaWin Sports. Since its establishment, the team has played its home matches in the 33,108-capacity Wankhede Stadium in Mumbai.

Indian Super League

Indian Super League

The Indian Super League (ISL) is an Indian professional league for men's association football clubs. At the top of the Indian football league system, it is the country's primary football competition. Organised by the All India Football Federation (AIFF), and their commercial partners Football Sports Development Limited (FSDL), it is officially known as Hero Indian Super League for sponsorship ties with Hero MotoCorp.

Antilia (building)

Antilia (building)

Antilia is a private residence in the billionaires row of Mumbai, India, named after the mythical island Antillia. It is the residence of the Indian billionaire Mukesh Ambani and his family, who moved into it in 2012. The skyscraper-mansion is one of the world's largest and most elaborate private homes, at 27 stories, 173 metres (568 ft) tall, over 37,000 square metres (400,000 sq ft), and with amenities such as three helipads, a 168-car garage, a ballroom, 9 high speed elevators, a 50-seat theatre, terrace gardens, swimming pool, spa, health centre, a temple, and a snow room that spits out snowflakes from the walls.

Timeline

1980s–1990s

In 1980, the Indian government under Indira Gandhi opened PFY (polyester filament yarn) manufacturing to the private sector. Dhirubhai Ambani applied for a license to set up a PFY manufacturing plant. Obtaining the license was a long-drawn-out process requiring a strong connection within the bureaucracy system because the government, at the time, was restricting large-scale manufacturing, making the importation of yarn for the textiles impossible.[29] In spite of stiff competition from Tatas, Birlas and 43 others, Dhirubhai was awarded the license, more commonly addressed as License Raj.[30] To help him build the PFY plant, Dhirubhai pulled his eldest son out of Stanford, where he was studying for his MBA, to work with him in the company. Ambani did not return to his university program, leading Reliance's backward integration, where companies own their suppliers to generate more revenue and improve efficiency, in 1981 from textiles into polyester fibers and further into petrochemicals, which the yarns were made from.[4] After joining the company, he reported daily to Rasikbhai Meswani, then executive director. The company was being built from scratch with the principle of everybody contributing to the business and not heavily depend on selected individuals. Dhirubhai treated him as a business partner allowing him the freedom to contribute even with little experience.[13] This principle came into play after Rasikbhai's death in 1985 along with Dhirubhai suffering a stroke in 1986 when all the responsibility shifted to Ambani and his brother.[31] Mukesh Ambani set up Reliance Infocomm Limited (now Reliance Communications Limited), which was focused on information and communications technology initiatives.[32] At the age of 24, Ambani was given charge of the construction of Patalganga petrochemical plant when the company was heavily investing in oil refinery and petrochemicals.[33]

2000s–present

On 6 July 2002, Mukesh's father died after suffering a second stroke,[34] which elevated tensions between the brothers as Dhirubhai had not left a will for the distribution of the empire in 2004.[35] Their mother intervened to stop the feud, splitting the company into two, Ambani receiving control of Reliance Industries Limited and Indian Petrochemicals Corporation Limited, which was later approved by the Bombay High Court in December 2005.[36][37]

Ambani directed and led the creation of the world's largest grassroots petroleum refinery at Jamnagar, India, which had the capacity to produce 660,000 barrels per day (33 million tonnes per year) in 2010, integrated with petrochemicals, power generation, port, and related infrastructure.[38] In December 2013 Ambani announced, at the Progressive Punjab Summit in Mohali, the possibility of a "collaborative venture" with Bharti Airtel in setting up digital infrastructure for the 4G network in India.[39] On 18 June 2014, Mukesh Ambani, while addressing the 40th AGM of Reliance Industries, said he will invest Rs 1.8 trillion (short scale) across businesses in the next three years and launch 4G broadband services in 2015.[40]

Ambani was elected as a member into the National Academy of Engineering in 2016 for engineering and business leadership in oil refineries, petrochemical products, and related industries.[41] In February 2016, Ambani-led Jio launched its own 4G smartphone brand named LYF.[42] In June 2016, it was India's third-largest-selling mobile phone brand.[43] The release of the service Reliance Jio Infocomm Limited, commonly known as Jio, in September 2016 was a success, and Reliance's shares increased.[44] During the 40th annual general meeting of RIL, he announced bonus shares in the ratio of 1:1 which is the country's largest bonus issue in India, and announced the Jio Phone at an effective price of ₹0.[45] As of February 2018, Bloomberg's "Robin Hood Index" estimated that Ambani's personal wealth was enough to fund the operations of the Indian federal government for 20 days.[46]

In February 2014, a First Information Report (FIR) alleging criminal offenses was filed against Mukesh Ambani for alleged irregularities in the pricing of natural gas from the KG basin.[47] Arvind Kejriwal, who had a short stint as Delhi's chief minister and had ordered the FIR, has accused various political parties of being silent on the gas price issue.[48] Kejriwal has asked both Rahul Gandhi and Narendra Modi to clear their stand on the gas pricing issue.[49][50] Kejriwal has alleged that the Centre allowed the price of gas to be inflated to eight dollars a unit though Mukesh Ambani's company spends only one dollar to produce a unit, which meant a loss of Rs. 540 billion to the country annually.[51][52]

In August 2022, Ambani announced a $25bn plan for launching 5G mobile internet services in the next two months. High-speed internet will be launched in major cities such as New Delhi and Mumbai and then in the rest of the country by the end of 2023.[53]


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Indira Gandhi

Indira Gandhi

Indira Priyadarshini Gandhi was an Indian politician and a central figure of the Indian National Congress. She was elected as third prime minister of India in 1966 and was also the first and, to date, only female prime minister of India. Gandhi was the daughter of Jawaharlal Nehru, the first prime minister of India. She served as prime minister from January 1966 to March 1977 and again from January 1980 until her assassination in October 1984, making her the second longest-serving Indian prime minister after her father.

Licence Raj

Licence Raj

The Licence Raj or Permit Raj was the system of licences, regulations, and accompanying red tape, that hindered the set up and running of businesses in India between 1947 and 1990. Up to 80 government agencies had to be satisfied before private companies could produce something and, if granted, the government would regulate production. The term is a play on the "British Raj", which refers to the period of British rule in India. It was coined by Indian independence activist and statesman Chakravarti Rajagopalachari, who firmly opposed it for its potential for political corruption and economic stagnation, founding the Swatantra Party to oppose these practices.

Jamnagar

Jamnagar

Jamnagar is a city located on the western coast of India in the state of Gujarat of Saurashtra region. It is the administrative headquarters of the Jamnagar district and the fifth largest city in Gujarat. The city lies just to the south of the Gulf of Kutch, some 337 kilometres (209 mi) west of the state capital, Gandhinagar.

Long and short scales

Long and short scales

The long and short scales are two of several naming systems for integer powers of ten which use some of the same terms for different magnitudes.

National Academy of Engineering

National Academy of Engineering

The National Academy of Engineering (NAE) is an American nonprofit, non-governmental organization. The National Academy of Engineering is part of the National Academies of Sciences, Engineering, and Medicine, along with the National Academy of Sciences (NAS), the National Academy of Medicine, and the National Research Council.

LYF

LYF

LYF, also known as Jio LYF, is an Indian brand of smartphones, laptops, consumer electronics developed by Jio and headquartered in Mumbai, India. It manufactures 4G-enabled VoLTE smartphones which run on Android. It is a subsidiary of Jio, the telecommunication arm of Reliance Industries.

Bloomberg News

Bloomberg News

Bloomberg News is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Television, Bloomberg Radio, Bloomberg Businessweek, Bloomberg Markets, Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, John Micklethwait has served as editor-in-chief.

Arvind Kejriwal

Arvind Kejriwal

Arvind Kejriwal is an Indian politician, former bureaucrat, and activist who is the 7th and current Chief Minister of Delhi since February 2015. Currently, he is the national convener of the Aam Aadmi Party, which won the 2015 Delhi Assembly elections with a historic majority, obtaining 67 out of 70 seats. He was also the Chief Minister of Delhi from December 2013 to February 2014, stepping down after 49 days of assuming power. In 2006, Kejriwal was awarded the Ramon Magsaysay Award for his involvement in the Parivartan movement using right to information legislation in a campaign against government corruption. The same year, after resigning from Government service, he founded the Public Cause Research Foundation to campaign for transparant governance.

Delhi

Delhi

Delhi, officially the National Capital Territory (NCT) of Delhi, is a city and a union territory of India containing New Delhi, the capital of India. Straddling the Yamuna river, primarily its western or right bank, Delhi shares borders with the state of Uttar Pradesh in the east and with the state of Haryana in the remaining directions. The NCT covers an area of 1,484 square kilometres (573 sq mi). According to the 2011 census, Delhi's city proper population was over 11 million, while the NCT's population was about 16.8 million. Delhi's urban agglomeration, which includes the satellite cities of Ghaziabad, Faridabad, Gurgaon and Noida in an area known as the National Capital Region (NCR), has an estimated population of over 28 million, making it the largest metropolitan area in India and the second-largest in the world.

Rahul Gandhi

Rahul Gandhi

Rahul Gandhi is an Indian politician and a member of the Indian Parliament, representing the constituency of Wayanad, Kerala in the 17th Lok Sabha. A member of the Indian National Congress, he served as the president of the Indian National Congress from 16 December 2017 to 3 July 2019. Gandhi is the chairperson of the Indian Youth Congress, the National Students Union of India also a trustee of Rajiv Gandhi Foundation and the Rajiv Gandhi Charitable Trust.

Narendra Modi

Narendra Modi

Narendra Damodardas Modi is an Indian politician serving as the 14th and current prime minister of India since 2014. Modi was the chief minister of Gujarat from 2001 to 2014 and is the Member of Parliament from Varanasi. He is a member of the Bharatiya Janata Party (BJP) and of the Rashtriya Swayamsevak Sangh (RSS), a right-wing Hindu nationalist paramilitary volunteer organisation. He is the longest serving prime minister from outside the Indian National Congress.

Indian rupee

Indian rupee

The Indian rupee is the official currency of India. The rupee is subdivided into 100 paise, though as of 2022, coins of denomination of 1 rupee are the lowest value in use whereas 2000 rupees is the highest. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934.

Board memberships

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Institute of Chemical Technology

Institute of Chemical Technology

Institute of Chemical Technology (ICT) is a state-funded deemed university in Mumbai, India. The institute also has campuses at Bhubaneswar, Odisha and Jalna, Marathwada. It is focused on training and research in the fields of chemical engineering, chemical technology, and pharmacy. It was established in 1933 and was granted deemed university status in 2008, making it the only state-funded deemed university in India. On 12 February 2018 it was given the status of Category 1 institute with graded autonomy by the Ministry of Human Resource Development and the University Grants Commission (India). It is also an institute with a special status as mentioned in SECTION IV of the Report of the Empowered Expert Committee in 2018.

Indian Petrochemicals Corporation Limited

Indian Petrochemicals Corporation Limited

Indian Petrochemicals Corporation Limited (IPCL) was a petrochemicals company in India. At the time of its divestment to Reliance Industries Limited, its turnover for the financial year 2005-06 had crossed the US $2 billion mark.

Reliance Petroleum

Reliance Petroleum

Reliance Petroleum is an Indian petroleum company that specializes in oil and energy, owned by Mukesh Ambani of Reliance Industries Limited (RIL), one of India's largest private sector companies. It is based in Ahmedabad, Gujarat, India and has interests in the downstream oil business.Its have 450,000 employees and profit of $5 billion.RPL was merged with Reliance Industries Limited on 29 September 2009.

Awards and honors

Vice President Venkaiah Naidu at an event gives The Economic Times Award for Corporate Excellence to Shri Mukesh Ambani
Vice President Venkaiah Naidu at an event gives The Economic Times Award for Corporate Excellence to Shri Mukesh Ambani
Year of Award or Honor Name of Award or Honor Awarding Organization
2000 Ernst & Young Entrepreneur of the Year[55] Ernst & Young India
2010 Global Vision Award at The Awards Dinner[56] Asia Society
2010 Business Leader of the Year[57] NDTV India
2010 Businessman of the Year[58] Financial Chronicle
2010 School of Engineering and Applied Science Dean's Medal[59] University of Pennsylvania
2010 ranked 5th-best performing global CEO[60] Harvard Business Review
2010 Global Leadership Award[61] Business Council for International Understanding
2010 Honorary Doctorate (Doctor of Science) M. S. University of Baroda
2013 Millennium Business Leader of the Decade at Indian Affairs India Leadership Conclave Awards 2013)[62] India Leadership Conclave & Indian Affairs Business Leadership Awards
2016 Foreign associate, U.S. National Academy of Engineering[63][64] National Academy of Engineering
2016 Othmer Gold Medal[65][66] Chemical Heritage Foundation

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Financial Chronicle

Financial Chronicle

Financial Chronicle (FC) is an Indian English-language daily newspaper published since 2008. The newspaper primarily covers Indian economic and international business topics, and financial news and issues.

University of Pennsylvania

University of Pennsylvania

The University of Pennsylvania is a private Ivy League research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest-regarded universities by numerous organizations and scholars. While the university dates its founding to 1740, it was created by Benjamin Franklin and leading Philadelphia citizens in 1749.

Harvard Business Review

Harvard Business Review

Harvard Business Review (HBR) is a general management magazine published by Harvard Business Publishing, a wholly owned subsidiary of Harvard University. HBR is published six times a year and is headquartered in Brighton, Massachusetts.

Business Council for International Understanding

Business Council for International Understanding

The Business Council for International Understanding (BCIU) is a not-for-profit, nonpartisan, membership organization that encourages dialogue between business and political leaders in different countries. It holds events, briefings and programs for networking and education. Membership comprises more than 200 companies.

National Academy of Engineering

National Academy of Engineering

The National Academy of Engineering (NAE) is an American nonprofit, non-governmental organization. The National Academy of Engineering is part of the National Academies of Sciences, Engineering, and Medicine, along with the National Academy of Sciences (NAS), the National Academy of Medicine, and the National Research Council.

Othmer Gold Medal

Othmer Gold Medal

The Othmer Gold Medal recognizes outstanding individuals who contributed to progress in chemistry and science through their activities in areas including innovation, entrepreneurship, research, education, public understanding, legislation, and philanthropy. The medal is presented annually under the sponsorship of the Science History Institute and four affiliated organizations: the American Chemical Society (ACS), the American Institute of Chemical Engineers (AIChE), The Chemists' Club, and the American section of the Société de Chimie Industrielle, at the Science History Institute's Heritage Day.

Science History Institute

Science History Institute

The Science History Institute is an institution that preserves and promotes understanding of the history of science. Located in Philadelphia, Pennsylvania, it includes a library, museum, archive, research center and conference center.

Personal life

He married Nita Ambani in 1985 and they have two sons, Akash and Anant, and a daughter, Isha, who is Akash's twin.[3][67] They met after his father attended a dance performance which Nita took part in and thought of the idea of arranging a marriage between the two.[68]

They live in Antilia, a private 27-storey building in Mumbai, which was valued at US$1 billion and was the most expensive private residence in the world at the time it was built.[28][69] The building requires a staff of 600 for maintenance, and it includes three helipads, a 160-car garage, private movie theater, swimming pool, and fitness center.[70]

In 2007, Ambani gifted his wife a $60 million Airbus A319 for her 44th birthday.[71] The Airbus, which has a capacity of 180 passengers, has been custom-fitted to include a living room, bedroom, satellite television, WiFi, sky bar, Jacuzzi, and an office.[72]

Ambani was titled "The World's Richest Sports Team Owner" after his purchase of the IPL cricket team Mumbai Indians for $111.9 million in 2008.[73][74]

Mukesh Ambani is a strict vegetarian and teetotaler.[75]

During the fiscal year ending 31 March 2012, he reportedly decided to forgo nearly ₹240 million from his annual pay as chief of Reliance Industries Ltd (RIL). He elected to do this even as RIL's total remuneration packages to its top management personnel increased during that fiscal year. Mukesh Ambani holds a 50.4% stake in the company.[76] This move kept his salary capped at ₹150 million for the fourth year in a row.[77]

In early 2019, a court in Mumbai held his younger brother, Anil Ambani, in criminal contempt for non-payment of personally guaranteed debt Reliance Communications owed to Swedish gearmaker Ericsson. Instead of jail time, the court gave Anil a month to come up with the funds. At the end of the month, Mukesh bailed out his younger brother, paying the debt.[36] In 2021, he was the subject of a bomb scare when a green Mahindra Scorpio SUV packed with explosives was found near a Mumbai skyscraper housing Ambani.[78]

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Nita Ambani

Nita Ambani

Nita Mukesh Ambani is an Indian philanthropist. She is the chairperson and founder of the Reliance Foundation, Dhirubhai Ambani International School and a director of Reliance Industries. She is married to Reliance Industries chairman and managing director Mukesh Ambani. With a family fortune estimated in excess of US$82 billion, the Ambanis are among the richest in the world. She is also an art collector and owner of the Indian Premier League cricket team Mumbai Indians.

Antilia (building)

Antilia (building)

Antilia is a private residence in the billionaires row of Mumbai, India, named after the mythical island Antillia. It is the residence of the Indian billionaire Mukesh Ambani and his family, who moved into it in 2012. The skyscraper-mansion is one of the world's largest and most elaborate private homes, at 27 stories, 173 metres (568 ft) tall, over 37,000 square metres (400,000 sq ft), and with amenities such as three helipads, a 168-car garage, a ballroom, 9 high speed elevators, a 50-seat theatre, terrace gardens, swimming pool, spa, health centre, a temple, and a snow room that spits out snowflakes from the walls.

Airbus A319

Airbus A319

The Airbus A319 is a member of the Airbus A320 family of short- to medium-range, narrow-body, commercial passenger twin-engine jet airliners manufactured by Airbus. The A319 carries 124 to 156 passengers and has a maximum range of 3,700 nmi. Final assembly of the aircraft takes place in Hamburg, Germany and Tianjin, China.

Airbus A320 family

Airbus A320 family

The Airbus A320 family is a series of narrow-body airliners developed and produced by Airbus. The A320 was launched in March 1984, first flew on 22 February 1987, and was introduced in April 1988 by Air France. The first member of the family was followed by the longer A321, the shorter A319, and the even shorter A318 . Final assembly takes place in Toulouse in France; Hamburg in Germany; Tianjin in China since 2009; and in Mobile, Alabama in the United States since April 2016.

Indian Premier League

Indian Premier League

The Indian Premier League (IPL), also known as TATA IPL for sponsorship reasons, is a men's T20 franchise cricket league of India. It is annually contested by ten teams based out of seven Indian cities and three Indian states. The league was founded by the Board of Control for Cricket in India (BCCI) in 2007. Brijesh Patel is the incumbent chairman of IPL. It is usually held annually in summer across India between March to May and has an exclusive window in the ICC Future Tours Programme.

Mumbai Indians

Mumbai Indians

Mumbai Indians are a franchise cricket team based in Mumbai, Maharashtra, that competes in the Indian Premier League and is most successful team of the tournament with 5 titles. Founded in 2008, the team is owned by India's biggest conglomerate, Reliance Industries, through its 100% subsidiary IndiaWin Sports. Since its establishment, the team has played its home matches in the 33,108-capacity Wankhede Stadium in Mumbai.

Teetotalism

Teetotalism

Teetotalism is the practice or promotion of total personal abstinence from the psychoactive drug alcohol, specifically in alcoholic drinks. A person who practices teetotalism is called a teetotaler or teetotaller, or is simply said to be teetotal. Globally, almost half of adults do not drink alcohol.

Anil Ambani

Anil Ambani

Anil Dhirubhai Ambani is an Indian businessman. He was the chairman of Reliance Group, which was created in July 2006 following a demerger from Reliance Industries Limited. He leads a number of stocks listed corporations including Reliance Capital, Reliance Infrastructure, Reliance Power and Reliance Communications. Ambani, once the sixth richest person in the world, declared before a UK court in February 2020 that his net worth is zero and he is bankrupt, although the veracity of that claim is in question. He served in the Rajya Sabha, the upper house of the Parliament of India from Uttar Pradesh as an Independent MP between 2004 and 2006.

Ericsson

Ericsson

Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in information and communications technology for telecommunications service providers and enterprises, including, among others, 3G, 4G, and 5G equipment, and Internet Protocol (IP) and optical transport systems. The company employs around 100,000 people and operates in more than 180 countries. Ericsson has over 57,000 granted patents.

Mahindra Scorpio

Mahindra Scorpio

The Mahindra Scorpio is a mid-size SUV manufactured by the Indian automaker Mahindra & Mahindra since 2002. It was Mahindra's first model to be built for the global market.

Antilia bomb scare

Antilia bomb scare

The Antilia bomb scare occurred on 25 February 2021, when a car containing 20 gelignite sticks was found outside the residence of Mukesh Ambani in Mumbai. A note found inside the vehicle, addressed to Mukesh and his wife Nita Ambani, said that the act was a prelude and threatened additional violence.

Source: "Mukesh Ambani", Wikipedia, Wikimedia Foundation, (2022, November 25th), https://en.wikipedia.org/wiki/Mukesh_Ambani.

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