Find out the Net Worth of Mukesh Ambani. He is the Richest man in India and Asia.
Mukesh Ambani is the CEO and Managing Director of Reliance Industries Limited. The company behind Reliance Jio, that disrupted the telecom segment in India and made our data rates the cheapest in the world!
|Richest man in India, Richest man in Asia
|Chairman and Managing Director of Reliance Industries Limited
Mukesh Ambani Early Life and Education
Mukesh Ambani was born on 19th April 1957 in Yemen. But his family soon moved to Mumbai because his father Mr. Dhirubhai Ambani wanted to start a textile business in Mumbai.
Mukesh and his younger sibling Anil both attended the Hill Grange High school in Mumbai. Then he received a B. E. degree in chemical Engineering from the institute of Chemical Technology.
He had also enrolled for an MBA programme at Stanford University, but later withdrew to help his father Dhirubhai Ambani build Reliance.
Mukesh Ambani and his Role in Reliance
It was around 1981 when Mr. Dhirubhai Ambani called Mukesh home from Stanford because he believed that real skills were developed in the real world and not by sitting inside a classroom.
After coming back home, Mukesh helped his dad build reliance into a multinational conglomerate that it is today. Mr. Dhirubhai Ambani had handed over control of Reliance to his sons, Mukesh and Anil following his first stroke. But a few years down the line, their differences started some serious clashes between the two brothers. This led to their Mother, Kokila Amabani’s intervention and she settled the dispute by splitting the groups into two.
Mukesh Ambani kept the Oil and Textiles company Reliance Industries Limited while Anil got the Telecommunications, Power, and Financial services business in the form of Reliance Anil Dhirubhai Ambani Group.
Reliance after Dhirubhai and Mukesh’s strategic growth plan
After getting control of Reliance Industries Limited Mukesh purchased a majority stake in Indian Petrochemicals Corporation Limited (IPCL) from the Government of India. At that time IPCL was the 2nd largest Petrochemicals company in india. It was later merged with RIL in 2008. Then in 2005-2006 he reorganised the group by demerging various non core verticals like power generation and distribution, financial services and telecommunication services. Later that year, Reliance entered the organised retail market via the Reliance Fresh brand.
Enter 2010 and Reliance acquired Infotel Broadband Services Limited which had pan-India 4G spectrum license. Then in 2016, with the launch of Jio, not only did Reliance enter the Telecommunications market, but also disrupted it by providing the cheapest data rates the world had ever seen!
Mukesh Ambani Net Worth
Mukesh Ambani strategically changed the direction of Reliance from Oil to Textiles company to a multinational Retail, Telecommunications and Digital services provider, while still retaining their Oil and Textiles business. This goes to show how sometimes patiently waiting for the right time pays off big time!
Coming to his Net Worth Mukesh Ambani gets his wealth prominently from his 48% stake in Reliance Industries Limited. That puts his estimated net worth at $55.3 Billion or Rs. 3.98 Lakh Crores as of 25th February, 2020.
Mr. Dhirubhai Ambani had called Mukesh back to get him out in the world and gain practical knowledge instead of sitting in the classroom. This step paid off in the long run.
If we compare the lives of the two brothers Mukesh and Anil, we can clearly see that Anil, despite having more education failed to even keep his empire afloat while Mukesh literally quadrupled it in two decades time.
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Also check out: 10 richest people in India.