Mukesh Ambani: Difference between revisions

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{{short description|Chairman of Reliance Industries}}
{{Short description|Indian businessman and chairman of Reliance Industries}}
 
{{pp|small=yes}}
{{Use Indian English|date=January 2015}}
{{Use Indian English|date=January 2015}}
{{Use dmy dates|date=March 2021}}
{{Use dmy dates|date=November 2022}}
{{Infobox person
{{Infobox person
| name              = Mukesh Ambani
| name              = Mukesh Ambani
| image              = [[File:Mukesh Ambani 1.jpg|200px]]
| image              = [[File:Mukesh Ambani.jpg|200px]]
| caption            = Ambani in 2010
| caption            = Ambani in 2007
| birth_name        = Mukesh Dhirubhai Ambani
| birth_name        = Mukesh Dhirubhai Ambani
| birth_date        = {{birth date and age|1957|04|19|df=y}}
| birth_date        = {{birth date and age|1957|04|19|df=y}}
| birth_place        = [[Aden]], [[Colony of Aden]] <br/>(present-day [[Yemen]])<ref>{{cite encyclopedia|url=http://www.britannica.com/EBchecked/topic/1710517/Mukesh-Ambani|title=Mukesh Ambani|last=Nolan|first=Jeannette|encyclopedia=Encyclopædia Britannica|access-date=6 October 2013}}</ref><ref name=rediff1998>{{cite web |url=http://www.rediff.com/business/1998/jun/17nandy.htm |title=The Rediff Business Interview/ Mukesh Ambani |work=Rediff.com |date=17 June 1998 |access-date=22 August 2013}}</ref>
| birth_place        = [[Aden]], [[Colony of Aden]] <br />(present-day [[Yemen]])<ref>{{cite encyclopedia|url=https://www.britannica.com/EBchecked/topic/1710517/Mukesh-Ambani|title=Mukesh Ambani|last=L. Nolen|first=Jeannette|encyclopedia=[[Encyclopædia Britannica]]|access-date=6 October 2013}}</ref><ref name=rediff1998>{{cite web |url=http://www.rediff.com/business/1998/jun/17nandy.htm |title=The Rediff Business Interview/ Mukesh Ambani |work=[[Rediff.com]] |date=17 June 1998 |access-date=22 August 2013}}</ref>
| nationality        = [[Indian people|Indian]]
| nationality        = Indian
| alma_mater        = [[St. Xavier's College, Mumbai]]; <br/>
| alma_mater        = {{Unbulleted list|[[St. Xavier's College, Mumbai]]|[[Institute of Chemical Technology]] (B.E.)|[[Stanford University]] (drop-out)}}
[[Institute of Chemical Technology]] (B.E.); <br/> [[Stanford University]] (drop-out)
| occupation        = Chairman and MD, [[Reliance Industries]]
| occupation        = Chairman and MD, [[Reliance Industries]]
| networth          = {{up}} US$87.4 billion ({{as of|2021|06|15}})<ref name="Forbes profile">{{cite web|url=https://www.forbes.com/profile/mukesh-ambani/ |title=Forbes: Mukesh Ambani |work=[[Forbes]] |access-date=12 June 2021}}</ref>
| spouse            = {{marriage|[[Nita Ambani]]|1985}}<ref name="marriage">{{cite web | url=https://www.forbes.com/sites/naazneenkarmali/2016/04/06/meet-nita-ambani-the-first-lady-of-indian-business/ | title=Meet Nita Ambani, The First Lady of Indian Business | work=[[Forbes]] | date=6 April 2016 |access-date=15 January 2022 | first=Naazneen | last=Karmali}}</ref>
| spouse            = {{marriage|[[Nita Ambani]]|1985}}<ref name="marriage">{{cite web | url=https://www.forbes.com/sites/naazneenkarmali/2016/04/06/meet-nita-ambani-the-first-lady-of-indian-business/ | title=Meet Nita Ambani, The First Lady of Indian Business | work=[[Forbes]] | date=6 April 2016 | author=Naazneen Karmali}}</ref>
| children          = 3
| children          = 3
| father            = [[Dhirubhai Ambani]]
| parents            = {{Unbulleted list|[[Dhirubhai Ambani]] (father)}}
| relations          = [[Anil Ambani]] (brother) <br/> [[Tina Ambani]] (sister-in-law)
| relations          = [[Anil Ambani]] (brother) <br> [[Tina Ambani]] (sister-in-law)
}}
}}


'''Mukesh Dhirubhai Ambani''' (born 19 April 1957) is an Indian billionaire businessman, and the chairman, managing director, and largest shareholder of [[Reliance Industries Ltd.]] (RIL), a [[Fortune Global 500]] company and India's most valuable company by [[market value]].<ref name="aboutus2">{{cite web|url=http://www.ril.com/html/aboutus/Mukesh_Ambani.html|title=Mukesh Ambani :: RIL :: Reliance Group of Industries|publisher=RIL.com|archive-url=https://web.archive.org/web/20150416033537/http://ril.com/html/aboutus/Mukesh_Ambani.html|archive-date=16 April 2015|url-status=dead|access-date=22 August 2013}}8250964307</ref> According to ''[[Forbes]]'', he is the richest person in [[Asia]] with a net worth of US$87.4 billion<ref>{{Cite web|title=Mukesh Ambani|url=https://www.forbes.com/profile/mukesh-ambani/|access-date=2021-05-22|website=Forbes|language=en}}</ref> and the 10th richest person in the world, as of 15 June 2021.<ref name="Bloomberg profile">{{cite web|url=https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/ |title=Bloomberg Billionaires Index: Mukesh Ambani |work=[[Bloomberg News|Bloomberg]] |access-date=22 May 2021}}</ref>
'''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|''Fortune'' Global 500]] company and India's most valuable company by [[market value]].<ref name="aboutus2">{{cite web|url=http://www.ril.com/html/aboutus/Mukesh_Ambani.html|title=Mukesh Ambani :: RIL :: Reliance Group of Industries|publisher=[[Reliance Industries Limited]]|archive-url=https://web.archive.org/web/20150416033537/http://ril.com/html/aboutus/Mukesh_Ambani.html|archive-date=16 April 2015|url-status=dead|access-date=22 August 2013}}</ref> According to ''[[Bloomberg Billionaires Index]]'', Ambani's net worth is estimated at $83.4 billion {{as of|February 2023|lc=y}}, making him the richest person in [[Asia]] and the 10th richest person in the world.<ref>{{Cite web |last=Ray |first=Siladitya |title=How Gautam Adani Lost More Than $60 Billion In Just 10 Days—And His Ranking As Asia's Richest |url=https://www.forbes.com/sites/siladityaray/2023/02/03/how-gautam-adani-lost-more-than-60-billion-in-just-10-days-and-his-ranking-as-asias-richest/ |access-date=2023-02-04 |website=Forbes |language=en}}</ref><ref>{{Cite web |title=Mukesh Ambani |url=https://www.forbes.com/profile/mukesh-ambani/ |access-date=2023-01-27 |website=Forbes |language=en}}</ref><ref>{{Cite web |title=Real Time Billionaires |url=https://www.forbes.com/real-time-billionaires/ |access-date=2023-01-27 |website=Forbes |language=en}}</ref>


==Early life==
== Early life ==
Mukesh Dhirubhai Ambani was born on 19 April 1957 in the British [[Crown colony]] of [[Colony of Aden|Aden]] (present-day [[Yemen]]) to [[Dhirubhai Ambani]] and Kokilaben Ambani. He has a younger brother [[Anil Ambani]] and two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaonkar.
Mukesh Dhirubhai Ambani was born on 19 April 1957 in the British [[Crown colony]] of [[Colony of Aden|Aden]] (present-day [[Yemen]]) into a [[Gujarati people|Gujarati]] [[Hindus|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<ref>{{Cite news|url=http://www.rediff.com/money/special/pix-special-how-dhirubhai-ambani-changed-the-idiom-of-doing-business/20150114.htm|title=How Dhirubhai Ambani changed the style of doing business in India|work=Rediff|access-date=30 July 2018}}</ref> to start a trading business that focused on spices and textiles. The latter was originally named "Vimal" but later changed to "Only Vimal."<ref>{{Cite web|url=http://www.truthofthoughts.com/life-story-of-mukesh-ambani/|title=Life story of Mukesh Ambani|website=truthofthoughts.com|language=en-US|access-date=30 July 2018}}</ref> His family lived in a modest two-bedroom apartment in [[Bhuleshwar]], [[Mumbai]] until the 1970s.<ref>{{cite web|url=http://www.rediff.com/money/2002/may/11ambani.htm|title=Reliance didn't grow on permit raj: Anil Ambani|date=11 May 2002|work=Rediff.com|access-date=28 October 2010}}</ref> 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.<ref name=":1">{{Cite news|url=https://www.nytimes.com/2008/06/15/business/worldbusiness/15ambani.html|title=Meet Mukesh Ambani: India's Richest Man|last=Giridharadas|first=Anand|access-date=31 July 2018|language=en}}</ref> 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.<ref>{{cite news|url=https://www.nytimes.com/2010/10/29/world/asia/29mumbai.html?ref=global&pagewanted=all|title=Soaring Above India's Poverty, a 27-Story Home|last=Yardley|first=Jim|date=28 October 2010|work=The New York Times}}</ref>
Ambani lived only briefly in Yemen because his father decided to move back to India in 1958<ref>{{Cite news|first=Shyamal|last=Majumdar|url=http://www.rediff.com/money/special/pix-special-how-dhirubhai-ambani-changed-the-idiom-of-doing-business/20150114.htm|title=How Dhirubhai Ambani changed the style of doing business in India|work=[[Rediff.com]]|date=14 January 2015|access-date=10 August 2021}}</ref> to start a trading business that focused on spices and textiles. The latter was originally named "Vimal" but later changed to "Only Vimal".<ref>{{Cite news|first=Piyush|last=Pandey|url=https://timesofindia.indiatimes.com/business/india-business/ril-set-to-part-with-only-vimal-brand/articleshow/14327681.cms|title=RIL set to part with 'Only Vimal' brand|work=[[The Times of India]]|date=22 June 2012|access-date=10 August 2021}}</ref><ref>{{Cite web|url=http://www.truthofthoughts.com/life-story-of-mukesh-ambani/|title=Life story of Mukesh Ambani|website=truthofthoughts.com|language=en-US|date=23 February 2017|access-date=30 July 2018}}</ref> His family lived in a modest two-bedroom apartment in [[Bhuleshwar]], [[Mumbai]] until the 1970s.<ref>{{cite web|url=http://www.rediff.com/money/2002/may/11ambani.htm|title=Reliance didn't grow on permit raj: Anil Ambani|date=11 May 2002|work=[[Rediff.com]]|access-date=28 October 2010}}</ref> The family's financial status slightly improved when they moved to India but Ambani still lived in a [[communal society]], used [[public transport]]ation, and never received an allowance.<ref name=":1">{{Cite news|url=https://www.nytimes.com/2008/06/15/business/worldbusiness/15ambani.html|title=Meet Mukesh Ambani: India's Richest Man|last=Giridharadas|first=Anand|date=15 June 2008|access-date=10 August 2021|work=[[The New York Times]]|language=en}}</ref> 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.<ref>{{cite news|url=https://www.nytimes.com/2010/10/29/world/asia/29mumbai.html?ref=global&pagewanted=all|title=Soaring Above India's Poverty, a 27-Story Home|last=Yardley|first=Jim|date=28 October 2010|access-date=10 August 2021|work=[[The New York Times]]}}</ref>


== Education ==
== 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.<ref>[http://m.intoday.in/story/anand-jain-a-bone-of-contention-between-the-Ambani-brothers/1/194368.html Anand Jain: A bone of contention between the Ambani brothers]. ''India Today''. 17 January 2005</ref> After his secondary schooling, he studied at the [[St. Xavier's College, Mumbai]].<ref>{{cite news |author=Kasmin Fernandes|title=St. Xavier's is the Indian Hogwarts |url=https://www.mid-day.com/articles/st-xaviers-is-the-indian-hogwarts/68236 |work=mid-day |date=2 January 2010 |language=en}}</ref> He then received a BE degree in [[Chemical Engineering]] from the [[Institute of Chemical Technology]].<ref>{{cite web|url=http://www.rediff.com/money/2007/jan/17inter.htm|title=Mukesh Ambani on his childhood, youth|work=Rediff.com|access-date=5 October 2011}}</ref><ref>{{cite journal |last1=Ambani |first1=Mukesh |title=Re-Orienting Education at UDCT |journal=The Bombay Technologist |year=2001 |volume=50 |issue=1 |pages=33–35 |url=http://www.bombaytechnologist.org/index.php/bombaytechnologist/article/view/128789 |access-date=12 June 2020 |language=en |issn=0067-9925}}</ref>
Ambani attended the [[Hill Grange High School]] at [[Peddar Road]], [[Mumbai]], along with his brother and [[Anand Jain]], who later became his close associate.<ref>{{Cite news|url=https://www.indiatoday.in/magazine/economy/story/20050117-anand-jain-a-bone-of-contention-between-the-ambani-brothers-788340-2005-01-17|title=Anand Jain: A bone of contention between the Ambani brothers|last=Bhupta|first=Malini|date=17 January 2005|access-date=10 August 2021|work=[[India Today]]|language=en}}</ref> After his secondary schooling, he studied at [[St. Xavier's College, Mumbai]].<ref>{{cite news |first=Kasmin |last=Fernandes|title=St. Xavier's is the Indian Hogwarts |url=https://www.mid-day.com/articles/st-xaviers-is-the-indian-hogwarts/68236 |work=[[Mid-Day]] |date=2 January 2010 |access-date=10 August 2021 |language=en}}</ref> He then received a [[Bachelor of Engineering|BE]] degree in [[chemical engineering]] from the [[Institute of Chemical Technology]].<ref name="childhood">{{cite web|url=http://www.rediff.com/money/2007/jan/17inter.htm|title=Mukesh Ambani on his childhood, youth|work=[[Rediff.com]]|date=19 January 2007|access-date=10 August 2021}}</ref><ref>{{cite journal |last1=Ambani |first1=Mukesh |title=Re-Orienting Education at UDCT |journal=[[Institute of Chemical Technology#The Bombay Technologist|The Bombay Technologist]] |year=2001 |volume=50 |issue=1 |pages=33–35 |url=http://www.bombaytechnologist.org/index.php/bombaytechnologist/article/view/128789 |archive-url=https://web.archive.org/web/20200612215122/http://www.bombaytechnologist.org/index.php/bombaytechnologist/article/view/128789 |access-date=12 June 2020 |archive-date=12 June 2020 |url-status=dead |language=en |issn=0067-9925}}</ref>


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.<ref>{{cite web|url=http://www.rediff.com/money/2007/jan/17inter.htm|title=Always invest in businesses of future and in talent|work=Rediff Business – Interview with Mukesh Ambani, 2007|publisher=Rediff.com|access-date=17 October 2011}}</ref> 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.<ref name=":1" />
Ambani later enrolled for an [[Master of Business Administration|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.<ref name="childhood" /> 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.<ref name=":1" />


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."<ref name=":0">{{Cite news|url=http://www.rediff.com/money/interview/inter/20070117.htm|title=Mukesh Ambani on his childhood, youth|work=Rediff|access-date=30 July 2018}}</ref>
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."<ref name="childhood" />


== Career ==
== 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 [[petrochemical]]s. The business also included products and services in retail and telecommunications industries. [[Reliance Retail]] Ltd., another subsidiary, is also the largest [[retailer]] in India.<ref>{{cite news|url=http://www.business-standard.com/article/companies/Ambani-becomes-india-s-top-retailer-as-biyani-slips-post-demerger-113081600179_1.html|title=Ambani tops retailer list, too|work=Business Standard|date=17 August 2013|access-date=19 August 2013|last1=Kumar|first1=Abhineet}}</ref> Reliance's [[Jio]] has earned a top-five spot in the country's telecommunication services since its public launch on 5 September 2016.
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 [[petrochemical]]s. 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.<ref>{{cite news|url=http://www.business-standard.com/article/companies/Ambani-becomes-india-s-top-retailer-as-biyani-slips-post-demerger-113081600179_1.html|title=Ambani tops retailer list, too|work=[[Business Standard]]|date=17 August 2013|access-date=10 August 2021|last1=Kumar|first1=Abhineet}}</ref> Reliance's [[Jio]] has earned a top-five spot{{explain|date=November 2022}} in the country's telecommunication services since its public launch on 5 September 2016.


As of 2016, Ambani was ranked 36 and has consistently held the title of India's richest person on Forbes magazine's list for the past ten years.<ref name="Forbes20162">{{cite news|url=http://economictimes.indiatimes.com/news/company/corporate-trends/bill-gates-richest-man-in-world-mukesh-ambani-at-36th-forbes/articleshow/51213191.cms|title=Bill Gates richest man in world, Mukesh Ambani at 36th: Forbes|date=2 March 2016|work=The Economic Times|access-date=17 May 2016}}</ref> He is the only Indian businessman on ''[[Forbes]]''<nowiki/>' list of the world's most powerful people.<ref>{{cite web|url=https://www.forbes.com/powerful-people/list/#tab:overall|title=The World's Most Powerful People}}</ref> As of October 2020, Mukesh Ambani was ranked by Forbes as the 6th-wealthiest person in the world.<ref name="Real Time Billionaires">{{Cite web|title=Real Time Billionaires|url=https://www.forbes.com/real-time-billionaires|access-date=23 December 2020|website=Forbes|language=en}}</ref> 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.<ref>{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/mukesh-ambani-set-to-topple-jack-ma-as-asias-richest-person/articleshow/64975502.cms|title=Billionaire Mukesh Ambani topples Jack Ma as Asia's richest person|work=The Times of India|access-date=13 July 2018}}</ref> As of 2015, Ambani ranked fifth among India's philanthropists, according to China's Hurun Research Institute.<ref name="Balachandran2">{{cite news|url=http://qz.com/321114/indias-biggest-philanthropist-is-seven-times-more-generous-than-the-next/|title=India's biggest philanthropist is seven times more generous than the next|last1=Balachandran|first1=Manu|date=5 January 2015|work=Quartz India|access-date=18 May 2016}}</ref> He was appointed as a Director of [[Bank of America]] and became the first non-American to be on its board.<ref>{{cite news | url=https://economictimes.indiatimes.com/markets/stocks/announcements/mukesh-ambani-appointed-bank-of-america-as-director/articleshow/7721461.cms | title=Mukesh Ambani appointed Bank of America as director | work=[[The Economic Times]] | date=16 March 2011 | access-date=25 January 2019}}</ref>
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.<ref name="Forbes20162">{{cite news|url=http://economictimes.indiatimes.com/news/company/corporate-trends/bill-gates-richest-man-in-world-mukesh-ambani-at-36th-forbes/articleshow/51213191.cms|title=Bill Gates richest man in world, Mukesh Ambani at 36th: Forbes|date=2 March 2016|work=[[The Economic Times]]|access-date=10 August 2021}}</ref> He is the only Indian businessman on ''[[Forbes]]''<nowiki/>' list of the world's most powerful people.<ref>{{cite web|url=https://www.forbes.com/powerful-people/list/#tab:overall|title=The World's Most Powerful People|access-date=10 August 2021|work=[[Forbes]]}}</ref> As of October 2020, Mukesh Ambani was ranked by Forbes as the 6th-wealthiest person in the world.<ref name="Real Time Billionaires">{{Cite web|title=Real Time Billionaires|url=https://www.forbes.com/real-time-billionaires|url-status=live|access-date=12 February 2022|work=[[Forbes]]|language=en}}</ref> 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.<ref>{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/mukesh-ambani-set-to-topple-jack-ma-as-asias-richest-person/articleshow/64975502.cms|title=Billionaire Mukesh Ambani topples Jack Ma as Asia's richest person|work=[[The Times of India]]|date=13 July 2018|access-date=10 August 2021}}</ref> As of 2015, Ambani ranked fifth among India's philanthropists, according to China's Hurun Research Institute.<ref name="Balachandran2">{{cite news|url=http://qz.com/321114/indias-biggest-philanthropist-is-seven-times-more-generous-than-the-next/|title=India's biggest philanthropist is seven times more generous than the next|last1=Balachandran|first1=Manu|date=5 January 2015|work=[[Quartz (publication)|Quartz India]]|access-date=10 August 2021}}</ref> He was appointed as a Director of [[Bank of America]] and became the first non-American to be on its board.<ref>{{cite news | url=https://economictimes.indiatimes.com/markets/stocks/announcements/mukesh-ambani-appointed-bank-of-america-as-director/articleshow/7721461.cms | title=Mukesh Ambani appointed Bank of America as director | work=[[The Economic Times]] | date=16 March 2011 | access-date=25 January 2019}}</ref>


Through Reliance, he also owns the [[Indian Premier League]] franchise [[Mumbai Indians]] and is the founder of [[Indian Super League]], a football league in India.<ref>{{Cite web|url=https://www.heraldsun.com.au/sport/football/ambani-backs-new-soccer-league-for-india/news-story/65ab8b15438c8b63edb75afd669cffb4?sv=2e0a473ca0dd742e1dfd05b452f8f2e9|title=Ambani Backs New Soccer League For India|last=Ambani|first=Mukesh|date=14 December 2010|website=Herald Sun}}</ref> In 2012, ''Forbes'' named him one of the richest sports owners in the world.<ref>{{cite news|url=https://www.forbes.com/pictures/eddf45gffi/Mukesh-Ambani/#gallerycontent|title=Mukesh Ambani in photos|last=Van Riper|first=Tom|work=Forbes|access-date=22 August 2013}}</ref> He resides at the [[Antilia (building)|Antilia Building]], one of the world's most expensive private residences with its value reaching $1 billion.<ref name="auto2">{{cite news|url=http://articles.latimes.com/2010/oct/24/world/la-fg-india-rich-20101025|title=Mumbai billionaire's home boasts 27 floors, ocean and slum views|author=Magnier, Mark|date=24 October 2010|newspaper=[[Los Angeles Times]]}}</ref>
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.<ref>{{Cite web|url=https://www.heraldsun.com.au/sport/football/ambani-backs-new-soccer-league-for-india/news-story/65ab8b15438c8b63edb75afd669cffb4?sv=2e0a473ca0dd742e1dfd05b452f8f2e9|archive-url=https://web.archive.org/web/20210810082310/https://webcache.googleusercontent.com/search?q=cache:nhLVSbd-RMIJ:https://www.heraldsun.com.au/sport/football/ambani-backs-new-soccer-league-for-india/story-e6frfg8x-1225970796255%3Fsv%3D2e0a473ca0dd742e1dfd05b452f8f2e9+&cd=2&hl=en&ct=clnk&gl=in|url-status=dead|title=Indian tycoon Mukesh Ambani backs new soccer league|last=Hiscock|first=Geoff|date=14 December 2010|access-date=10 August 2021|archive-date=10 August 2021|work=[[Herald Sun]]}}</ref> In 2012, ''Forbes'' named him one of the richest sports owners in the world.<ref>{{cite news|url=https://www.forbes.com/pictures/eddf45gffi/mukesh-ambani/?sh=762c02d84022#gallerycontent|title=Richest Owners in Sports: Mukesh Ambani|work=[[Forbes]]|date=12 March 2012|access-date=10 August 2021}}</ref> He resides at the [[Antilia (building)|Antilia]], one of the world's most expensive private residences with its value reaching $1 billion.<ref name="auto2">{{cite news|url=https://www.latimes.com/archives/la-xpm-2010-oct-24-la-fg-india-rich-20101025-story.html|title=Mumbai billionaire's home boasts 27 floors, ocean and slum views|last=Magnier|first=Mark|date=24 October 2010|access-date=10 August 2021|newspaper=[[Los Angeles Times]]}}</ref>


==Timeline==
== Timeline ==
=== 1980s – 1990s ===
=== 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.<ref>{{Cite news|url=https://spontaneousorder.in/india-before-1991-stories-of-life-under-the-license-raj-bfd108e6055b|title=India Before 1991: Stories of Life Under the License Raj|date=30 March 2016|work=Spontaneous Order|access-date=2 August 2018}}{{Dead link|date=February 2021 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> In spite of stiff competition from Tatas, Birlas and 43 others, Dhirubhai was awarded the license, more commonly addressed as [[Licence Raj|License Raj]].<ref>{{cite web|url=http://www.referenceforbusiness.com/history2/78/Reliance-Industries-Ltd.html|title=Reliance Industries Company Profile|work=Reliance Industries Ltd. – Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd. Read more: Reliance Industries Ltd. – Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd. – Reference for Business|publisher=Advameg Inc.|access-date=17 October 2011}}</ref> 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.<ref name="aboutus2"/> 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.<ref name=":2">{{Cite news|url=https://www.nytimes.com/2008/06/15/business/worldbusiness/15ambani.html|title=Meet Mukesh Ambani: India's Richest Man|last=Giridharadas|first=Anand|access-date=4 August 2018|language=en}}</ref> 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.<ref>{{Cite news|url=https://wealthymatters.com/2011/02/04/mukesh-ambani-in-his-own-words/|title=Mukesh Ambani – In His Own Words|date=4 February 2011|work=wealthymatters|access-date=2 August 2018|language=en-US}}</ref> Mukesh Ambani set up Reliance Infocomm Limited (now [[Reliance Communications Limited]]), which was focused on information and communications technology initiatives.<ref>{{cite web|url=http://www.rcom.co.in/rcom/StoreLocator/press_release_detail.jsp?id=72|title=Reliance Infocomm Ushers a Digital Revolution in India|date=27 December 2002|work=Press Release by Reliance Infocomm|publisher=Reliance Communications|archive-url=https://web.archive.org/web/20130723100615/http://www.rcom.co.in/rcom/StoreLocator/press_release_detail.jsp?id=72|archive-date=23 July 2013|url-status=dead|access-date=22 August 2013}}</ref> 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.<ref>{{Cite book|url=https://books.google.com/books?id=KRKa6WQD8dAC&q=%22patalganga%22+%22mukesh%22&pg=PA362|title=Family Business|last=Poza|first=Ernesto J.|date=29 January 2009|publisher=Cengage Learning|isbn=978-0324597691|language=en}}</ref>
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.<ref>{{Cite news|first=Neeraj|last=Agarwal|url=https://spontaneousorder.in/india-before-91/#:~:text=Life%20under%20license%20raj%20was,the%20market%20to%20choose%20from.|archive-url=https://web.archive.org/web/20160330173548/https://spontaneousorder.in/india-before-91/|title=India Before 1991: Stories of Life Under the License Raj|date=30 March 2016|archive-date=30 March 2016|work=Spontaneous Order|access-date=2 August 2018|url-status=live}}</ref> In spite of stiff competition from Tatas, Birlas and 43 others, Dhirubhai was awarded the license, more commonly addressed as [[Licence Raj|License Raj]].<ref>{{cite web|url=http://www.referenceforbusiness.com/history2/78/Reliance-Industries-Ltd.html|title=Reliance Industries Ltd. – Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd.|work=referenceforbusiness.com|publisher=Advameg Inc.|access-date=10 August 2021}}</ref> To help him build the PFY plant, Dhirubhai pulled his eldest son out of Stanford in 1981, where he was studying for his MBA, to work with him in the company. Ambani did not return to his university program, as he was in charge of Reliance's [[vertical integration]], from textiles into polyester fibers and further into petrochemicals, which the yarns were made from.<ref name="aboutus2" /> 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.<ref name=":1" /> 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.<ref>{{Cite news|url=https://wealthymatters.com/2011/02/04/mukesh-ambani-in-his-own-words/|title=Mukesh Ambani – In His Own Words|date=4 February 2011|work=wealthymatters|access-date=2 August 2018|language=en-US}}</ref> Mukesh Ambani set up Reliance Infocomm Limited (now [[Reliance Communications Limited]]), which was focused on information and communications technology initiatives.<ref>{{cite web|url=http://www.rcom.co.in/rcom/StoreLocator/press_release_detail.jsp?id=72|title=Reliance Infocomm Ushers a Digital Revolution in India|date=27 December 2002|work=Press Release by Reliance Infocomm|publisher=[[Reliance Communications]]|archive-url=https://web.archive.org/web/20130723100615/http://www.rcom.co.in/rcom/StoreLocator/press_release_detail.jsp?id=72|archive-date=23 July 2013|url-status=dead|access-date=22 August 2013}}</ref> 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.<ref>{{Cite book|url=https://books.google.com/books?id=KRKa6WQD8dAC&q=%22patalganga%22+%22mukesh%22&pg=PA362|title=Family Business|last=Poza|first=Ernesto J.|date=29 January 2009|publisher=[[Cengage Learning]]|isbn=978-0-324-59769-1|language=en}}</ref>


=== 2000s – Present ===
=== 2000s–present ===
On 6 July 2002, Mukesh's father died after suffering a second stroke,<ref>{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/Dhirubhai-Ambani-passes-away/articleshow/15204217.cms|title=Dhirubhai Ambani passes away|work=The Times of India|access-date=4 August 2018}}</ref> which elevated tensions between the brothers as Dhirubhai had not left a will for the distribution of the empire in 2004.<ref name=":3">{{Cite news|url=https://www.thenational.ae/business/economy/an-insight-into-mukesh-ambani-s-empire-and-how-he-became-asia-s-richest-man-1.750368|title=An insight into Mukesh Ambani's empire and how he became Asia's richest man|work=The National|access-date=4 August 2018|language=en}}</ref> 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.<ref name="sibling_rivalry"/><ref>{{Cite news|url=https://www.businessinsider.com/ambani-brothers-feud-reliance-2011-05#june-2005-their-mother-kokilaben-intervenes-and-splits-reliance-group-into-2-3|title=The Full Story of the Massive Feud Between The Billionaire Ambani Brothers|work=Business Insider|access-date=4 August 2018}}</ref>
On 6 July 2002, Mukesh's father died after suffering a second stroke,<ref>{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/Dhirubhai-Ambani-passes-away/articleshow/15204217.cms|first=Pradipta|last=Bagchi|title=Dhirubhai Ambani passes away|work=[[The Times of India]]|date=7 July 2002|access-date=10 August 2021}}</ref> which elevated tensions between the brothers as Dhirubhai had not left a will for the distribution of the empire in 2004.<ref name=":3">{{Cite news|url=https://www.thenational.ae/business/economy/an-insight-into-mukesh-ambani-s-empire-and-how-he-became-asia-s-richest-man-1.750368|title=An insight into Mukesh Ambani's empire and how he became Asia's richest man|work=[[The National (Abu Dhabi)|The National]]|date=15 July 2018|access-date=10 August 2021|language=en}}</ref> 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.<ref name="sibling_rivalry" /><ref>{{Cite news|first=Mamta|last=Badkar|url=https://www.businessinsider.com/ambani-brothers-feud-reliance-2011-05#june-2005-their-mother-kokilaben-intervenes-and-splits-reliance-group-into-2-3|title=The Full Story of the Massive Feud Between The Billionaire Ambani Brothers|work=[[Business Insider]]|date=26 May 2011|access-date=10 August 2021}}</ref>


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&nbsp; million tonnes per year) in 2010, integrated with petrochemicals, power generation, port, and related infrastructure.<ref>{{cite web|url=http://www.reliancepetroleum.com/html/mda.html |title=Mukesh Ambani :: Reliance Group :: Reliance Petroleum Limited :: Reliance Industries |publisher=RIL |access-date=18 February 2010}}</ref> 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.<ref>{{cite news | url= http://www.indianexpress.com/news/Mukesh-Ambani-hints-at-venture-between-reliance-industries-and-bharti-airtel/1205304/|work=The Indian Express |title=Mukesh Ambani hints at venture between Reliance Industries and Bharti Airtel|date=9 December 2013 }}</ref> On 18 June 2014, Mukesh Ambani, while addressing the 40th AGM of Reliance Industries, said he will invest Rs 1.8&nbsp; trillion ([[Long and short scales|short scale]]) across businesses in the next three years and launch 4G broadband services in 2015.<ref>{{cite news|url=http://www.abplive.in/business/2014/06/18/article345784.ece/Reliance-4G-services-to-be-launched-in-2015-Mukesh-Ambani|title=Reliance 4G services to be launched in 2015: Mukesh Ambani|date=18 June 2014|publisher=ABP Live}}</ref>
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.<ref>{{cite web|url=http://www.reliancepetroleum.com/html/mda.html |archive-url=https://web.archive.org/web/20100404033843/http://www.reliancepetroleum.com/html/mda.html |title=Mukesh Ambani :: Reliance Group :: Reliance Petroleum Limited :: Reliance Industries |publisher=[[Reliance Industries Limited]] |archive-date=4 April 2010 |access-date=4 April 2010 |url-status=dead}}</ref> 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.<ref>{{cite news | url= http://www.indianexpress.com/news/Mukesh-Ambani-hints-at-venture-between-reliance-industries-and-bharti-airtel/1205304/|work=[[The Indian Express]] |title=Mukesh Ambani hints at venture between Reliance Industries and Bharti Airtel|date=9 December 2013|access-date=10 August 2021}}</ref> On 18 June 2014, Mukesh Ambani, while addressing the 40th AGM of Reliance Industries, said he will invest Rs 1.8 trillion ([[Long and short scales|short scale]]) across businesses in the next three years and launch 4G broadband services in 2015.<ref>{{cite news|url=http://www.abplive.in/business/2014/06/18/article345784.ece/Reliance-4G-services-to-be-launched-in-2015-Mukesh-Ambani|archive-url=https://web.archive.org/web/20140619183010/http://www.abplive.in/business/2014/06/18/article345784.ece/Reliance-4G-services-to-be-launched-in-2015-Mukesh-Ambani#.U6MsSv7P2M8|title=Reliance 4G services to be launched in 2015: Mukesh Ambani|date=18 June 2014|archive-date=19 June 2014|access-date=15 January 2022|url-status=dead|publisher=[[ABP News]]}}</ref>


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.<ref>{{Cite news|date=8 February 2016|title=Mukesh Ambani elected to National Academy of Engineering, one of only 10 Indians|work=Firstpost|url=https://www.firstpost.com/business/mukesh-ambani-elected-to-national-academy-of-engineering-one-of-only-ten-indians-2617592.html|url-status=live|access-date=17 May 2021|archive-url=https://web.archive.org/web/20200920045155/https://www.firstpost.com/business/mukesh-ambani-elected-to-national-academy-of-engineering-one-of-only-ten-indians-2617592.html|archive-date=20 September 2020}}</ref> In February 2016, Ambani-led Jio launched its own 4G smartphone brand named [[LYF]].<ref>{{cite web|url=http://www.financialexpress.com/photos/technology-gallery/255581/mukesh-ambanis-reliance-jio-infocomms-lyf-mobile-a-whopping-1-billion-brand/|title=Mukesh Ambani's Reliance Jio Infocomm's LYF mobile: A whopping $1 billion brand?|author=Gloria Singh, Surbhi|date=14 May 2016|work=The Financial Express|access-date=14 July 2016}}</ref> In June 2016, it was India's third-largest-selling mobile phone brand.<ref>{{cite web|url=http://www.livemint.com/Industry/qiV33gHp9I4VOkeDbyhEPO/How-Reliance-Jios-LYF-became-Indias-third-largest-selling.html|title=How Reliance Jio's LYF became India's third-largest selling phone brand|author1=Agarwal, Sapna|author2=Pathak, Kalpana|date=29 June 2016|publisher=Livemint|access-date=14 July 2016}}</ref> The release of the service Reliance Jio Infocomm Limited, commonly known as Jio, in September 2016 was a success, and Reliance's shares increased.<ref>{{Cite web|url=https://www.bloomberg.com/news/articles/2018-07-13/who-is-mukesh-ambani-asia-s-newest-richest-man-quicktake|title=Analysis {{!}} Who Is Mukesh Ambani, Asia's Newest Richest Man?: QuickTake|website=The Washington Post|language=en|access-date=4 August 2018}}</ref> 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.<ref>{{cite news|url=https://economictimes.indiatimes.com/markets/stocks/news/macro-cues-q3-earnings-and-oil-prices-to-sway-market-next-week/articleshow/62400132.cms|title=Macro cues, Q3 earnings, and oil prices to sway market this week|last=Verma|first=Swati|date=9 April 2018|newspaper=The Economic Times|access-date=9 April 2018}}</ref> As of February 2018, [[Bloomberg News|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.<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2018-02-12/what-if-the-world-s-richest-paid-for-government-spending|title=What If the World's Richest Paid for Government Spending?|last1=Strauss|first1=Marine|date=11 February 2018|work=Bloomberg Politics|access-date=14 February 2018|last2=Lu|first2=Wei}}</ref>
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.<ref>{{Cite news|date=8 February 2016|title=Mukesh Ambani elected to National Academy of Engineering, one of only 10 Indians|work=[[Firstpost]]|url=https://www.firstpost.com/business/mukesh-ambani-elected-to-national-academy-of-engineering-one-of-only-ten-indians-2617592.html|url-status=live|access-date=10 August 2021|archive-url=https://web.archive.org/web/20200920045155/https://www.firstpost.com/business/mukesh-ambani-elected-to-national-academy-of-engineering-one-of-only-ten-indians-2617592.html|archive-date=20 September 2020}}</ref> In February 2016, Ambani-led Jio launched its own 4G smartphone brand named [[LYF]].<ref>{{cite web|url=http://www.financialexpress.com/photos/technology-gallery/255581/mukesh-ambanis-reliance-jio-infocomms-lyf-mobile-a-whopping-1-billion-brand/|title=Mukesh Ambani's Reliance Jio Infocomm's LYF mobile: A whopping $1 billion brand?|author=Gloria Singh, Surbhi|date=15 May 2016|work=[[The Financial Express (India)|Financial Express]]|access-date=14 July 2016}}</ref> In June 2016, it was India's third-largest-selling mobile phone brand.<ref>{{cite web|url=http://www.livemint.com/Industry/qiV33gHp9I4VOkeDbyhEPO/How-Reliance-Jios-LYF-became-Indias-third-largest-selling.html|title=How Reliance Jio's LYF became India's third-largest selling phone brand|author1=Agarwal, Sapna|author2=Pathak, Kalpana|date=29 June 2016|work=[[Mint (newspaper)|Mint]]|access-date=10 August 2021}}</ref> The release of the service Reliance Jio Infocomm Limited, commonly known as Jio, in September 2016 was a success, and Reliance's shares increased.<ref>{{Cite web|first=Saket|last=Sundria|url=https://www.bloomberg.com/news/articles/2018-07-13/who-is-mukesh-ambani-asia-s-newest-richest-man-quicktake|title=Analysis {{!}} Who Is Mukesh Ambani, Asia's Newest Richest Man?: QuickTake|work=[[Bloomberg News|Bloomberg]]|language=en|date=13 July 2018|access-date=4 August 2018}}</ref> 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.<ref>{{cite news|url=https://economictimes.indiatimes.com/markets/stocks/news/macro-cues-q3-earnings-and-oil-prices-to-sway-market-next-week/articleshow/62400132.cms|title=Macro cues, Q3 earnings, and oil prices to sway market this week|last=Verma|first=Swati|date=7 January 2018|newspaper=[[The Economic Times]]|access-date=9 April 2018}}</ref> As of February 2018, [[Bloomberg News|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.<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2018-02-12/what-if-the-world-s-richest-paid-for-government-spending|title=What If the World's Richest Paid for Government Spending?|last1=Strauss|first1=Marine|date=11 February 2018|work=[[Bloomberg News|Bloomberg]]|access-date=14 February 2018|last2=Lu|first2=Wei}}</ref>


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]].<ref>{{cite web|url=http://indianexpress.com/article/india/india-others/arvind-kejriwal-orders-fir-against-murli-deora-veerappa-moily-and-Mukesh-Ambani/ |title=Arvind Kejriwal rakes up K G Basin gas pricing, orders FIRs against Moily, Deora, Mukesh Ambani |work=The Indian Express|date=11 February 2014}}</ref> [[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.<ref>{{cite web|url=http://news.oneindia.in/india/kejriwal-addresses-first-rally-rohtak-kickstarts-Lok-sabha-campaign-1400745-lse.html |title=Arvind Kejriwal calls BJP, Congress puppets of Mukesh Ambani|author=Nair, Anisha |date=23 February 2014|work=news.oneindia.in}}</ref> Kejriwal has asked both [[Rahul Gandhi]] and [[Narendra Modi]] to clear their stand on the gas pricing issue.<ref>{{cite web|url=http://www.ndtv.com/article/india/arvind-kejriwal-s-letter-to-Mukesh-Ambani-on-gas-pricing-486256?home_1392963087 |title=Arvind Kejriwal's letter to Mukesh Ambani on gas pricing}}</ref><ref>{{cite web|url=http://www.ndtv.com/article/india/clear-your-stand-on-Mukesh-Ambani-arvind-kejriwal-tells-narendra-modi-rahul-gandhi-486236|title=Clear your stand on Mukesh Ambani: Arvind Kejriwal tells Narendra Modi, Rahul Gandhi|author=Ghosh, Deepshikha |date= 21 February 2014}}</ref> 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 [[Indian rupee|Rs]]. 540&nbsp; billion to the country annually.<ref>{{cite web|url=http://indiatoday.intoday.in/story/arvind-kejriwal-fires-on-all-cylinders-now-writes-to-rahul-gandhi-over-gas-prices-involving-Mukesh-Ambani/1/345268.html|title=Arvind Kejriwal fires on all cylinders, now writes to Rahul Gandhi over gas prices involving Mukesh Ambani|work=India Today|date=24 February 2014 }}</ref><ref>{{cite web|url=http://www.dnaindia.com/india/report-arvind-kejriwal-asks-narendra-modi-to-come-clean-on-gas-pricing-1964063|title=Arvind Kejriwal asks Narendra Modi to come clean on gas pricing|work=DNA India|date=21 February 2014}}</ref>
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]].<ref>{{cite web|url=http://indianexpress.com/article/india/india-others/arvind-kejriwal-orders-fir-against-murli-deora-veerappa-moily-and-Mukesh-Ambani/ |title=Arvind Kejriwal rakes up K G Basin gas pricing, orders FIRs against Moily, Deora, Mukesh Ambani |work=[[The Indian Express]]|date=11 February 2014|access-date=10 August 2021}}</ref> [[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.<ref>{{cite web|url=http://news.oneindia.in/india/kejriwal-addresses-first-rally-rohtak-kickstarts-Lok-sabha-campaign-1400745-lse.html |title=Arvind Kejriwal calls BJP, Congress puppets of Mukesh Ambani|author=Nair, Anisha |date=23 February 2014|access-date=10 August 2021|work=[[Oneindia]]}}</ref> Kejriwal has asked both [[Rahul Gandhi]] and [[Narendra Modi]] to clear their stand on the gas pricing issue.<ref>{{cite web|url=http://www.ndtv.com/article/india/arvind-kejriwal-s-letter-to-Mukesh-Ambani-on-gas-pricing-486256?home_1392963087 |title=Arvind Kejriwal's letter to Mukesh Ambani on gas pricing|date=21 February 2014|access-date=10 August 2021|publisher=[[NDTV]]}}</ref><ref>{{cite web|url=http://www.ndtv.com/article/india/clear-your-stand-on-Mukesh-Ambani-arvind-kejriwal-tells-narendra-modi-rahul-gandhi-486236|title=Clear your stand on Mukesh Ambani: Arvind Kejriwal tells Narendra Modi, Rahul Gandhi|author=Ghosh, Deepshikha|date= 21 February 2014|access-date=10 August 2021|publisher=[[NDTV]]}}</ref> 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 [[Indian rupee|Rs]]. 540 billion to the country annually.<ref>{{cite web|url=http://indiatoday.intoday.in/story/arvind-kejriwal-fires-on-all-cylinders-now-writes-to-rahul-gandhi-over-gas-prices-involving-Mukesh-Ambani/1/345268.html|title=Arvind Kejriwal fires on all cylinders, now writes to Rahul Gandhi over gas prices involving Mukesh Ambani|work=[[India Today]]|date=24 February 2014|access-date=10 August 2021}}</ref><ref>{{cite web|url=http://www.dnaindia.com/india/report-arvind-kejriwal-asks-narendra-modi-to-come-clean-on-gas-pricing-1964063|archive-url=https://web.archive.org/web/20140227103540/https://www.dnaindia.com/india/report-arvind-kejriwal-asks-narendra-modi-to-come-clean-on-gas-pricing-1964063|title=Arvind Kejriwal asks Narendra Modi to come clean on gas pricing|work=[[DNA (newspaper)|DNA]]|date=21 February 2014|archive-date=27 February 2014|access-date=10 August 2021|url-status=dead}}</ref>


==Board memberships==
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.<ref>{{cite news|url=https://www.bbc.com/news/business-62719598 | title=Mukesh Ambani: India tycoon launches $25bn 5G rollout plan | date=30 August 2022 | publisher=BBC News |access-date=30 August 2022 }}</ref>
 
== Board memberships ==
* Member of Board of Governors [[Institute of Chemical Technology]], Mumbai
* Member of Board of Governors [[Institute of Chemical Technology]], Mumbai
* Chairman, managing director, Chairman of Finance Committee and Member of Employees Stock Compensation Committee, [[Reliance Industries Limited]]
* Chairman, managing director, Chairman of Finance Committee and Member of Employees Stock Compensation Committee, [[Reliance Industries Limited]]
Line 63: Line 63:
* Chairman and Chairman of Audit Committee, [[Reliance Retail Limited]]
* Chairman and Chairman of Audit Committee, [[Reliance Retail Limited]]
* Chairman, Reliance Exploration and Production DMCC
* Chairman, Reliance Exploration and Production DMCC
* Former Director, Member of Credit Committee and Member of Compensation & Benefits Committee, [[Bank of America Corporation]]<ref>{{cite web|title=Mukesh Ambani – Executive Profile & Biography|url=http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=7388031&ticker=RELI:IJ|work=Mukesh Ambani – Executive Profile & Biography – Bloomberg Businessweek|publisher=Bloomberg}}</ref>
* Former Director, Member of Credit Committee and Member of Compensation & Benefits Committee, [[Bank of America Corporation]]<ref>{{cite web|title=Mukesh Dhirubhai Ambani, Reliance Industries: Profile and Biography|url=https://www.bloomberg.com/profile/person/1784869|work=[[Bloomberg News|Bloomberg]]|access-date=10 August 2021}}</ref>
* President, [[Pandit Deendayal Petroleum University]], Gandhinagar, Gujarat
* President, [[Pandit Deendayal Petroleum University]], Gandhinagar, Gujarat


==Awards and honors==
== Awards and honors ==
[[File:The Vice President, Shri M. Venkaiah Naidu at an event to give away The Economic Times Award for Corporate Excellence to Shri Mukesh Ambani, in Mumbai.jpg|thumb|Vice President Venkaiah Naidu at an event gives The Economic Times Award for Corporate Excellence to Shri Mukesh Ambani]]


{| class="wikitable" style="font-size:90%;"
{| class="wikitable" style="font-size:90%;"
Line 73: Line 74:
|-
|-
| 2000
| 2000
| Ernst & Young Entrepreneur of the Year<ref>{{cite web|title=Ernst & Young Entrepreneur of the Year Award|url=http://www.ey.com/IN/en/About-us/Entrepreneurship/Entrepreneur-Of-The-Year/Entrepreneur_Of_The_Year_Winner2000|access-date=10 June 2013}}</ref>
| Ernst & Young Entrepreneur of the Year<ref>{{cite web|title=Entrepreneur of the Year – 2000 Winners|url=http://www.ey.com/IN/en/About-us/Entrepreneurship/Entrepreneur-Of-The-Year/Entrepreneur_Of_The_Year_Winner2000|archive-url=https://web.archive.org/web/20130320061833/http://www.ey.com/IN/en/About-us/Entrepreneurship/Entrepreneur-Of-The-Year/Entrepreneur_Of_The_Year_Winner2000|archive-date=20 March 2013|access-date=10 June 2013|publisher=[[Ernst & Young]]|url-status=dead}}</ref>
| Ernst & Young India
| Ernst & Young India
|-
|-
| 2010
| 2010
| Global Vision Award at The Awards Dinner<ref>{{cite web|last=Mulgund|first=Shreyas|title=Asia Society Awards Dinner Honors Mukesh Ambani, Jeffrey Immelt, and NY Philharmonic|url=http://asiasociety.org/media/press-releases/asia-society-awards-dinner-honors-Mukesh-Ambani-jeffrey-immelt-and-ny-philharmo|work=Press Release on Asia Society|publisher=Asia Society|access-date=21 September 2011}}</ref>
| Global Vision Award at The Awards Dinner<ref>{{cite web|title=Asia Society Awards Dinner Honors Mukesh Ambani, Jeffrey Immelt, and NY Philharmonic|url=http://asiasociety.org/media/press-releases/asia-society-awards-dinner-honors-Mukesh-Ambani-jeffrey-immelt-and-ny-philharmo|work=Press Release on Asia Society|publisher=[[Asia Society]]|date=4 November 2010|access-date=21 September 2011}}</ref>
| Asia Society
| Asia Society
|-
|-
| 2010
| 2010
| Business Leader of the Year<ref>{{cite web|last=Mulgund |first=Shreyas |title=Winners of the NDTV Business Leadership Awards |url=http://www.ndtv.com/convergence/ndtv/bla10/winners.aspx |publisher=NDTV Convergence Limited |access-date=21 September 2011 |url-status=unfit |archive-url=https://web.archive.org/web/20130723114843/http://www.ndtv.com/convergence/ndtv/bla10/winners.aspx |archive-date=23 July 2013 }}</ref>
| School of Engineering and Applied Science Dean's Medal<ref>{{cite web|title=Mukesh Ambani awarded the Dean's Medal by University of Pennsylvania
| NDTV India
|url=http://forbesindia.com/article/web-special/mukesh-ambani-awarded-the-deans-medal-by-university-of-pennsylvania/8902/1|work=[[Forbes India]]|date=9 January 2010|access-date=10 August 2021}}</ref>
|-
| 2010
| Businessman of the Year<ref>{{cite news|last=Mulgund |first=Shreyas |title=FC Businessman of the Year: Mukesh Ambani |url=http://www.mydigitalfc.com/companies/fc-businessman-year-mukesh-ambani-459 |newspaper=Financial Chronicle |date=30 December 2010 |url-status=unfit |archive-url=https://web.archive.org/web/20130723125841/http://www.mydigitalfc.com/companies/fc-businessman-year-mukesh-ambani-459 |archive-date=23 July 2013 }}</ref>
| Financial Chronicle
|-
| 2010
| School of Engineering and Applied Science Dean's Medal<ref>{{cite web|title=IMukesh Ambani awarded the Dean's Medal by University of Pennsylvania
|url=http://forbesindia.com/article/web-special/mukesh-ambani-awarded-the-deans-medal-by-university-of-pennsylvania/8902/1|work=Mukesh Ambani awarded the Dean's Medal by University of Pennsylvania
|publisher=FORBES|access-date=9 January 2010}}</ref>
| [[University of Pennsylvania]]
| [[University of Pennsylvania]]


|-
|-
| 2010
| 2010
| ranked 5th-best performing global CEO<ref>{{cite web|last=Mulgund |first=Shreyas |title=The 100 Best-Performing CEOs in the World |url=http://hbr.org/web/extras/100ceos/5-ambani |date=January 2010 |work=Harvard Business Review |publisher=Harvard Business Publishing |access-date=21 September 2011 |url-status=unfit |archive-url=https://web.archive.org/web/20120301040655/http://hbr.org/web/extras/100ceos/5-ambani |archive-date=1 March 2012 }}</ref>
| ranked 5th-best performing global CEO<ref>{{cite web|last1=T. Hansen |first1=Morten |last2=Ibarra |first2=Herminia |last3=Peyer |first3=Urs |title=Mukesh D. Ambani – 100 Best-Performing CEOs in the World |url=http://hbr.org/web/extras/100ceos/5-ambani |date=January 2010 |work=[[Harvard Business Review]] |publisher=[[Harvard Business Publishing]] |access-date=10 August 2021 |archive-url=https://web.archive.org/web/20120301040655/http://hbr.org/web/extras/100ceos/5-ambani |archive-date=1 March 2012 |url-status=dead}}</ref>
| [[Harvard Business Review]]
| [[Harvard Business Review]]


|-
|-
|2010
|2010
|Global Leadership Award<ref>{{cite news|title=BCIU Presents Dwight D. Eisenhower Global Awards to Mukesh D
|Global Leadership Award<ref>{{cite news|title=BCIU Presents Dwight D. Eisenhower Global Awards to Mukesh D.
|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aT_weC3ceIys
|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aT_weC3ceIys
|publisher=Bloomberg|access-date=1 August 2012}}</ref>
|archive-url=https://web.archive.org/web/20140729214311/https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aT_weC3ceIys
|work=[[Bloomberg News|Bloomberg]]|date=11 November 2010|access-date=1 August 2014|archive-date=29 July 2014}}</ref>
|[[Business Council for International Understanding]]
|[[Business Council for International Understanding]]
|-
|2010
|Honorary Doctorate (Doctor of Science)<ref>{{cite web|title=M.S. University Confers Degree of Doctor of Science Honoris Causa To Mukesh Ambani|url=http://www.degreeuk.com/m-s-university-confers-degree-of-doctor-of-science-honoris-causa-to-mukesh-ambani-2.html|access-date=15 October 2010}}</ref>
|[[M. S. University of Baroda]]
|-
|2013
|Millennium Business Leader of the Decade at Indian Affairs India Leadership Conclave Awards 2013)<ref>{{cite web|title=Priyanka Chopra, Manish Malhotra, Dr. Mukesh Batra, Ratan Tata, Mukesh Ambani, Dr. Laud, Dr. Mukesh Hariawala, Dilip Surana Among Others to Receive Prestigious India Leadership Conclave Awards 2013|url=http://www.indiainfoline.com/article/news-business-wire-entertainment/priyanka-chopra-manish-malhotra-dr-mukesh-batra-ratan-tata-mukesh-ambani-dr-laud-dr-mukesh-hariawala-dilip-surana-among-others-to-receive-prestigious-india-leadership-conclave-awards-2013-114012901736_1.html}}</ref>
|India Leadership Conclave & Indian Affairs Business Leadership Awards
|-
|-
| 2016
| 2016
| Foreign associate, U.S. [[National Academy of Engineering]]<ref name="West">{{cite news|title=Four Indian American Engineers Among Newly Elected NAE Members|url=http://www.indiawest.com/news/global_indian/four-indian-american-engineers-among-newly-elected-nae-members/article_de1c0fc6-cf73-11e5-b931-bf7b3573219e.html|access-date=18 May 2016|work=India West|date=9 February 2016}}</ref><ref name="NAEMembership">{{cite web|title=Mr. Mukesh Dhirubhai Ambani|url=http://www.nae.edu/MembersSection/MemberDirectory/149904.aspx|website=National Academy of Engineering|access-date=18 May 2016}}</ref>
| Foreign associate, U.S. [[National Academy of Engineering]]<ref name="West">{{cite news|title=Four Indian American Engineers Among Newly Elected NAE Members|url=http://www.indiawest.com/news/global_indian/four-indian-american-engineers-among-newly-elected-nae-members/article_de1c0fc6-cf73-11e5-b931-bf7b3573219e.html|archive-url=https://web.archive.org/web/20160604214531/http://www.indiawest.com/news/global_indian/four-indian-american-engineers-among-newly-elected-nae-members/article_de1c0fc6-cf73-11e5-b931-bf7b3573219e.html|archive-date=4 June 2016|access-date=18 June 2016|work=India West|date=9 February 2016|url-status=dead}}</ref><ref name="NAEMembership">{{cite web|title=Mr. Mukesh Dhirubhai Ambani|url=http://www.nae.edu/MembersSection/MemberDirectory/149904.aspx|website=[[National Academy of Engineering]]|access-date=10 August 2021}}</ref>
| National Academy of Engineering
| National Academy of Engineering
|-
|-
| 2016
| 2016
| [[Othmer Gold Medal]]<ref name="NetIndian">{{cite news|title=Mukesh Ambani awarded Othmer Gold Medal for Entrepreneurial Leadership|url=http://netindian.in/news/2016/05/17/00038017/mukesh-ambani-awarded-othmer-gold-medal-entrepreneurial-leadership|access-date=17 May 2016|work=NetIndian News Network|date=17 May 2016}}</ref><ref name="OthmerMedal">{{cite web|title=Othmer Gold Medal|url=https://www.sciencehistory.org/othmer-gold-medal|access-date=22 March 2018|publisher=Science History Institute|date=31 May 2016}}</ref>
| [[Othmer Gold Medal]]<ref name="NetIndian">{{cite news|title=Mukesh Ambani awarded Othmer Gold Medal for Entrepreneurial Leadership|url=http://netindian.in/news/2016/05/17/00038017/mukesh-ambani-awarded-othmer-gold-medal-entrepreneurial-leadership|access-date=17 May 2016|work=NetIndian News Network|date=17 May 2016}}</ref><ref name="OthmerMedal">{{cite web|title=Othmer Gold Medal|date=31 May 2016 |url=https://www.sciencehistory.org/othmer-gold-medal|publisher=[[Science History Institute]]|access-date=10 August 2021}}</ref>
| [[Science History Institute|Chemical Heritage Foundation]]
| [[Science History Institute|Chemical Heritage Foundation]]
|}


|}
==Stock manipulation and penalty==
For [[Market manipulation|manipulating shares]] of [[Reliance Petroleum]] Limited (RPL), Reliance Industries was fined Rs. 950 crore (about 447 crore in retracted gains and 500 crore in interest) in 2007.<ref>{{Cite web|url=https://scroll.in/latest/982968/sebi-fines-reliance-industries-mukesh-ambani-rs-40-crore-for-manipulative-trades-in-2007|title=SEBI fines Reliance Industries, Mukesh Ambani Rs 40 crore for 'manipulative trades' in 2007|first=Scroll|last=Staff|website=Scroll.in}}</ref> In April 2006, RPL went public as a Reliance subsidiary at a price of Rs. 60 per share. The market crashed by 30% after it floated at roughly Rs. 100, and RPL was back at 60. In accordance with [[Securities and Exchange Board of India]] directive, RIL carried out an organised operation with the help of its agents in order to obtain unauthorised profits from the trading of its formerly listed unit, RPL, which was combined with the former in 2009.<ref>{{Cite news|url=https://www.thehindu.com/business/Industry/sebi-fines-reliance-industries-mukesh-ambani-two-other-entities-in-rpl-case/article33474227.ece|title=Reliance Petroleum case &#124; SEBI fines Reliance Industries, Mukesh Ambani, two other entities|newspaper=The Hindu |date=1 January 2021|via=www.thehindu.com}}</ref><ref>{{Cite web|url=https://www.livemint.com/companies/news/rpl-case-sebi-fines-reliance-industries-mukesh-ambani-two-other-entities-11609514042845.html|title=RPL case: Sebi slaps fine on Reliance, Ambani|first=Kalpana|last=Pathak|date=1 January 2021|website=mint}}</ref><ref>{{Cite web|url=https://www.businessinsider.in/business/news/sebi-imposes-penalty-on-mukesh-ambani-and-reliance-industries-for-manipulative-trading/articleshow/80071715.cms|title=SEBI imposes penalty on Mukesh Ambani and Reliance Industries for manipulative trading|website=Business Insider}}</ref><ref>{{Cite news|url=https://www.reuters.com/article/india-reliance-penalty-idUSKBN2962DY|title=India's Reliance Industries and chairman fined over share trades|newspaper=Reuters |date=1 January 2021|via=www.reuters.com}}</ref><ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2017-03-27/reliance-industries-falls-after-manipulation-charge-trading-ban|title=Reliance Industries Falls After Manipulation Charge, Trading Ban|newspaper=Bloomberg |date=27 March 2017|via=www.bloomberg.com}}</ref>


== Personal life ==
== Personal life ==


He married [[Nita Ambani]] in 1985 and they have two sons; Akash Ambani and Anand Ambani, and a daughter, Isha.<ref>{{cite web|url=http://www.indiatvnews.com/business/india/born-rich-india-s-young-billionaire-heirs-and-heiresses--3676.html|title=India's young billionaire heirs and heiresses|date=28 November 2012|access-date=7 January 2014}}</ref><ref name="marriage"/> 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.<ref>{{Cite news|url=http://www.freepressjournal.in/business/nita-ambanis-story-from-school-teacher-to-indias-wealthiest-woman-is-worth-a-read/1175962|title=Nita Ambani's story, from school teacher to India's wealthiest woman, is worth a read! {{!}} Free Press Journal|date=24 November 2017|work=Free Press Journal|access-date=31 July 2018|language=en-GB}}</ref>
He married [[Nita Ambani]] in 1985 and they have two sons, Akash and Anant, and a daughter, Isha, who is Akash's twin.<ref name="marriage" /><ref>{{cite web|url=http://www.indiatvnews.com/business/india/born-rich-india-s-young-billionaire-heirs-and-heiresses--3676.html|title=India's young billionaire heirs and heiresses|date=28 November 2012|publisher=[[India TV]]|access-date=10 August 2021}}</ref> 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.<ref>{{Cite news|first=Priyanka|last=Vartak|url=http://www.freepressjournal.in/business/nita-ambanis-story-from-school-teacher-to-indias-wealthiest-woman-is-worth-a-read/1175962|archive-url=https://web.archive.org/web/20171124102203/https://www.freepressjournal.in/business/nita-ambanis-story-from-school-teacher-to-indias-wealthiest-woman-is-worth-a-read/1175962|title=Nita Ambani's story, from school teacher to India's wealthiest woman, is worth a read!|date=24 November 2017|work=[[The Free Press Journal]]|archive-date=24 November 2017|access-date=10 August 2021|url-status=dead|language=en-GB}}</ref>


They live in [[Antilia (building)|Antilia]], a private 27-storey building in Mumbai, which was valued at US$1&nbsp;billion and was the most expensive private residence in the world at the time it was built.<ref name="auto2"/><ref name="theage1">{{cite news|url=http://www.theage.com.au/executive-style/luxury/indias-richest-man-builds-worlds-first-billiondollar-home-20101015-16mrg.html|title=India's richest man builds first $1-billion home, Antilia|last=Kwek|first=Glenda|date=15 October 2010|work=The Age|access-date=28 October 2010|location=Melbourne}}</ref> 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.<ref>{{Cite news|url=https://www.huffingtonpost.com/2012/05/18/antilia-inside-mukesh-expensive-home-mumbai_n_1527703.html|title=Antilia: Inside Mukesh Ambani's 27-Story Mumbai Residence, The World's First $1 Billion Home (PHOTOS)|last=Hanrahan|first=Mark|date=18 May 2012|work=HuffPost|access-date=1 August 2018|language=en-US}}</ref>
They live in [[Antilia (building)|Antilia]], a private 27-storey building in Mumbai, which was valued at US$1&nbsp;billion and was the most expensive private residence in the world at the time it was built.<ref name="auto2" /><ref name="theage1">{{cite news|url=http://www.theage.com.au/executive-style/luxury/indias-richest-man-builds-worlds-first-billiondollar-home-20101015-16mrg.html|title=India's richest man builds world's first billion-dollar home|last=Kwek|first=Glenda|date=15 October 2010|work=[[The Age]]|access-date=10 August 2021|location=Melbourne}}</ref> 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.<ref>{{Cite news|url=https://www.huffingtonpost.com/2012/05/18/antilia-inside-mukesh-expensive-home-mumbai_n_1527703.html|title=Antilia: Inside Mukesh Ambani's 27-Story Mumbai Residence, The World's First $1 Billion Home (PHOTOS)|last=Hanrahan|first=Mark|date=18 May 2012|work=[[HuffPost]]|access-date=10 August 2021|language=en-US}}</ref>


In 2007, Ambani gifted his wife a $60 million [[Airbus A319]] for her 44th birthday.<ref>{{Cite news|url=https://in.reuters.com/article/idINIndia-30294620071102|title=Mukesh Ambani gifts wife jet on birthday|last=Editorial|first=Reuters|work=IN|access-date=1 August 2018|language=en-IN}}</ref> The [[Airbus A320 family|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.<ref>{{Cite web|url=http://www.rediff.com/money/2007/nov/03ril.htm?print=true|title=Mukesh Ambani gifts Rs 240 cr jet to wife|work=Rediff.com|access-date=1 August 2018}}</ref>
In 2007, Ambani gifted his wife a $60 million [[Airbus A319]] for her 44th birthday.<ref>{{Cite news|url=https://in.reuters.com/article/idINIndia-30294620071102|title=Mukesh Ambani gifts wife jet on birthday|publisher=[[Reuters]]|date=2 November 2007|access-date=10 August 2021|language=en-IN}}</ref> The [[Airbus A320 family|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.<ref>{{Cite web|url=http://www.rediff.com/money/2007/nov/03ril.htm?print=true|title=Mukesh Ambani gifts Rs 240 cr jet to wife|work=[[Rediff.com]]|date=3 November 2007|access-date=10 August 2021}}</ref>


Ambani was titled "The World's Richest Sports Team Owner" after his purchase of the [[Indian Premier League|IPL]] cricket team [[Mumbai Indians]] for $111.9 million in 2008.<ref>{{Cite news|url=http://www.espncricinfo.com/ipl/content/story/333193.html|title=Big business and Bollywood grab stakes in IPL|publisher=ESPNcricinfo|access-date=1 August 2018|language=en}}</ref><ref>{{Cite news|url=https://www.forbes.com/sites/kurtbadenhausen/2018/03/07/the-worlds-richest-sports-team-owners-2018/|title=The World's Richest Sports Team Owners 2018|last=Badenhausen|first=Kurt|work=Forbes|access-date=1 August 2018|language=en}}</ref>
Ambani was titled "The World's Richest Sports Team Owner" after his purchase of the [[Indian Premier League|IPL]] cricket team [[Mumbai Indians]] for $111.9 million in 2008.<ref>{{Cite news|url=http://www.espncricinfo.com/ipl/content/story/333193.html|title=Big business and Bollywood grab stakes in IPL|publisher=[[ESPNcricinfo]]|date=24 January 2008|access-date=10 August 2021|language=en}}</ref><ref>{{Cite news|url=https://www.forbes.com/sites/kurtbadenhausen/2018/03/07/the-worlds-richest-sports-team-owners-2018/|title=The World's Richest Sports Team Owners 2018|last=Badenhausen|first=Kurt|work=[[Forbes]]|date=7 March 2018|access-date=1 August 2018|language=en}}</ref>


In an interview with [[Rajdeep Sardesai]] in March 2017, he said that his favourite food continued to be [[idli]] [[Sambar (dish)|sambar]] and his favourite restaurant remains [[Mysore cafe|Mysore Café]], a restaurant in [[Kings Circle|King's Circle]] (Mumbai) where he used to eat as a student at [[Institute of Chemical Technology|UDCT.]]<ref name="mid">{{cite news|last1=DMello|first1=Yollande|title=Number munching at Cafe Mysore|url=http://www.mid-day.com/articles/number-munching-at-cafe-mysore/138926|access-date=6 July 2017|publisher=Mid-Day|date=16 October 2011}}</ref> Mukesh Ambani is a strict vegetarian and [[Teetotalism|teetotaler]].<ref>{{cite web|url=https://www.thomaswhite.com/global-perspectives/mukesh-ambani-reliance-industries-chairman/|title=Mukesh Ambani is India's richest man for the second year in a row|website=thomaswhite.com|access-date=9 April 2018}}</ref> He is a very big fan of [[Bollywood]] movies, watching three a week because he says "you need some amount of escapism in life."<ref name=":3" /><ref name=":2" />
Mukesh Ambani is a strict vegetarian and [[Teetotalism|teetotaler]].<ref>{{cite web|url=https://www.thomaswhite.com/global-perspectives/mukesh-ambani-reliance-industries-chairman/|archive-url=https://web.archive.org/web/20130615035436/https://www.thomaswhite.com/global-perspectives/mukesh-ambani-reliance-industries-chairman/|title=Mukesh Ambani is India's richest man for the second year in a row|website=thomaswhite.com|date=1 June 2010|archive-date=15 June 2013|access-date=9 April 2018|url-status=dead}}</ref>  


During the fiscal year ending 31 March 2012, he reportedly decided to forgo nearly ₹240&nbsp; 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.<ref>{{cite news|url=https://www.bloomberg.com/news/2012-03-05/Ambani-backed-by-india-power-is-asia-s-no-1-billionaire.html|title=Mukesh Ambani Backed by India Power Holdings Proves Asia's Top Billionaire|last1=Chu|first1=Patrick|date=5 March 2012|work=Bloomberg|access-date=22 August 2013|last2=Ismail|first2=Netty|quote=Year 2012.}}</ref> This move kept his salary capped at ₹150&nbsp; million for the fourth year in a row.<ref>{{cite news| url=http://timesofindia.indiatimes.com/business/india-business/Mukesh-Ambani-forgoes-Rs-23-82-crore-from-his-pay-package/articleshow/13064719.cms | work=The Times of India | title=Mukesh Ambani forgoes Rs 23.82 crore from his pay package|date=9 May 2012}}</ref>
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.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2012-03-05/ambani-backed-by-india-power-is-asia-s-no-1-billionaire|title=Mukesh Ambani Backed by India Power Holdings Proves Asia's Top Billionaire |last1=Chu |first1=Patrick |last2=Idayu Ismail |first2=Netty |date=5 March 2012 |work=[[Bloomberg News|Bloomberg]]|access-date=10 August 2021}}</ref> This move kept his salary capped at ₹150 million for the fourth year in a row.<ref>{{cite news| url=http://timesofindia.indiatimes.com/business/india-business/Mukesh-Ambani-forgoes-Rs-23-82-crore-from-his-pay-package/articleshow/13064719.cms | work=[[The Times of India]] | title=Mukesh Ambani forgoes Rs 23.82 crore from his pay package|date=9 May 2012|access-date=15 January 2022}}</ref>


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.<ref name="sibling_rivalry">{{cite news |last1=Altstedter |first1=Ari |last2= Sanjai|first2= P.R. |title=Mukesh Ambani Won the World's Most Expensive Sibling Rivalry |url=https://www.bloomberg.com/news/features/2020-06-03/mukesh-ambani-won-the-world-s-most-expensive-sibling-rivalry |access-date=7 June 2020 |work=Bloomberg News |date=3 June 2020}}</ref>
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.<ref name="sibling_rivalry">{{cite news |last1=Altstedter |first1=Ari |last2= Sanjai|first2=P. R. |title=Mukesh Ambani Won the World's Most Expensive Sibling Rivalry |url=https://www.bloomberg.com/news/features/2020-06-03/mukesh-ambani-won-the-world-s-most-expensive-sibling-rivalry |access-date=10 August 2021 |work=[[Bloomberg Businessweek]] |date=3 June 2020}}</ref>
In 2021, he was the subject of a [[bomb scare]] when a green [[Mahindra Scorpio]] [[SUV]] packed with explosives [[Antilia bomb scare|was found near]] a Mumbai skyscraper housing Ambani.<ref>{{Cite news|url=https://www.ft.com/content/19a30cd2-5ec4-4105-a971-294d6ac541cf|title=Mukesh Ambani bomb scare brings Mumbai's dirty politics into the open|newspaper=Financial Times |date=4 April 2021}}</ref>


==See also==
== See also ==
* [[Make in India]]
* [[Energy in India]]
* [[Energy in India]]
* [[Reliance Industries]]
* [[Reliance Industries]]
* [[Jio|Reliance Jio]]
* [[Jio|Reliance Jio]]


==References==
== References ==
{{Reflist|30em}}
{{Reflist|30em}}


==External links==
== External links ==
{{Wikiquote}}
{{Wikiquote}}
{{Commons category}}
{{Commons category}}
*[http://www.ril.com/OurCompany/Leadership/Chairman-And-Managing-Director.aspx Profile] at [[Reliance Industries]]
* [http://www.ril.com/OurCompany/Leadership/Chairman-And-Managing-Director.aspx Profile] at [[Reliance Industries]]
* [https://www.forbes.com/profile/mukesh-ambani/ Profile] at [[Forbes]]
* [https://www.forbes.com/profile/mukesh-ambani/ Profile] at [[Forbes]]
* {{worldcat id|lccn-n2005-207680}}
* [https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/ Profile] at [[Bloomberg L.P.]] 
 
* {{Britannica|1710517}}  
{{Reliance Group}}
* {{Internet Archive author|sname=Mukesh Ambani}} 
* {{worldcat id|lccn-n2005207680}}  


{{Reliance Group}}
{{Authority control}}
{{Authority control}}


{{DEFAULTSORT:Ambani, Mukesh}}
{{DEFAULTSORT:Ambani, Mukesh}}
[[Category:1957 births]]
[[Category:1957 births]]
[[Category:Living people]]
[[Category:Ambani family|Mukesh]]
[[Category:Ambani family|Mukesh]]
[[Category:Businesspeople from Mumbai]]
[[Category:Foreign associates of the National Academy of Engineering]]
[[Category:Gujarati people]]
[[Category:Hill Grange High School alumni]]
[[Category:Indian billionaires]]
[[Category:Indian billionaires]]
[[Category:Businesspeople from Mumbai]]
[[Category:Indian businesspeople in the oil industry]]
[[Category:Indian Hindus]]
[[Category:Indian Hindus]]
[[Category:Indian industrialists]]
[[Category:Indian Premier League franchise owners]]
[[Category:Indian Premier League franchise owners]]
[[Category:Institute of Chemical Technology alumni]]
[[Category:Living people]]
[[Category:Reliance Industries people]]
[[Category:Stanford Graduate School of Business alumni]]
[[Category:Stanford Graduate School of Business alumni]]
[[Category:University of Mumbai alumni]]
[[Category:University of Mumbai alumni]]
[[Category:Institute of Chemical Technology alumni]]
[[Category:Victims of bomb threats]]
[[Category:Reliance Industries people]]
[[Category:Centibillionaires]]
[[Category:Gujarati people]]
[[Category:Indian industrialists]]
[[Category:Indian businesspeople in the oil industry]]
[[Category:Foreign associates of the National Academy of Engineering]]
[[Category:Hill Grange High School alumni]]

Revision as of 14:07, 6 March 2023

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

(1957-04-19) 19 April 1957 (age 68)
Aden, Colony of Aden
(present-day Yemen)[1][2]
NationalityIndian
Alma mater
OccupationChairman and MD, Reliance Industries
Spouse(s)
(
m. 1985)
[3]
Children3
Parent(s)
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 Bloomberg Billionaires Index, Ambani's net worth is estimated at $83.4 billion as of February 2023, making him the richest person in Asia and the 10th richest person in the world.[5][6][7]

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[8] to start a trading business that focused on spices and textiles. The latter was originally named "Vimal" but later changed to "Only Vimal".[9][10] His family lived in a modest two-bedroom apartment in Bhuleshwar, Mumbai until the 1970s.[11] 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.[12] 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.[13]

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.[14] After his secondary schooling, he studied at St. Xavier's College, Mumbai.[15] He then received a BE degree in chemical engineering from the Institute of Chemical Technology.[16][17]

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.[16] 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.[12]

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."[16]

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.[18] Reliance's Jio has earned a top-five spot[further explanation needed] 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.[19] He is the only Indian businessman on Forbes' list of the world's most powerful people.[20] As of October 2020, Mukesh Ambani was ranked by Forbes as the 6th-wealthiest person in the world.[21] 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.[22] As of 2015, Ambani ranked fifth among India's philanthropists, according to China's Hurun Research Institute.[23] He was appointed as a Director of Bank of America and became the first non-American to be on its board.[24]

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.[25] In 2012, Forbes named him one of the richest sports owners in the world.[26] He resides at the Antilia, one of the world's most expensive private residences with its value reaching $1 billion.[27]

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.[28] In spite of stiff competition from Tatas, Birlas and 43 others, Dhirubhai was awarded the license, more commonly addressed as License Raj.[29] To help him build the PFY plant, Dhirubhai pulled his eldest son out of Stanford in 1981, where he was studying for his MBA, to work with him in the company. Ambani did not return to his university program, as he was in charge of Reliance's vertical integration, 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.[12] 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.[30] Mukesh Ambani set up Reliance Infocomm Limited (now Reliance Communications Limited), which was focused on information and communications technology initiatives.[31] 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.[32]

2000s–present

On 6 July 2002, Mukesh's father died after suffering a second stroke,[33] which elevated tensions between the brothers as Dhirubhai had not left a will for the distribution of the empire in 2004.[34] 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.[35][36]

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.[37] 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.[38] 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.[39]

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.[40] In February 2016, Ambani-led Jio launched its own 4G smartphone brand named LYF.[41] In June 2016, it was India's third-largest-selling mobile phone brand.[42] The release of the service Reliance Jio Infocomm Limited, commonly known as Jio, in September 2016 was a success, and Reliance's shares increased.[43] 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.[44] 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.[45]

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.[46] 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.[47] Kejriwal has asked both Rahul Gandhi and Narendra Modi to clear their stand on the gas pricing issue.[48][49] 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.[50][51]

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.[52]

Board memberships

Awards and honors

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[54] Ernst & Young India
2010 Global Vision Award at The Awards Dinner[55] Asia Society
2010 School of Engineering and Applied Science Dean's Medal[56] University of Pennsylvania
2010 ranked 5th-best performing global CEO[57] Harvard Business Review
2010 Global Leadership Award[58] Business Council for International Understanding
2016 Foreign associate, U.S. National Academy of Engineering[59][60] National Academy of Engineering
2016 Othmer Gold Medal[61][62] Chemical Heritage Foundation


Stock manipulation and penalty

For manipulating shares of Reliance Petroleum Limited (RPL), Reliance Industries was fined Rs. 950 crore (about 447 crore in retracted gains and 500 crore in interest) in 2007.[63] In April 2006, RPL went public as a Reliance subsidiary at a price of Rs. 60 per share. The market crashed by 30% after it floated at roughly Rs. 100, and RPL was back at 60. In accordance with Securities and Exchange Board of India directive, RIL carried out an organised operation with the help of its agents in order to obtain unauthorised profits from the trading of its formerly listed unit, RPL, which was combined with the former in 2009.[64][65][66][67][68]

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][69] 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.[70]

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.[27][71] 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.[72]

In 2007, Ambani gifted his wife a $60 million Airbus A319 for her 44th birthday.[73] 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.[74]

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.[75][76]

Mukesh Ambani is a strict vegetarian and teetotaler.[77]

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.[78] This move kept his salary capped at ₹150 million for the fourth year in a row.[79]

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.[35] 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.[80]

See also

References

  1. ↑ L. Nolen, Jeannette. "Mukesh Ambani". Encyclopædia Britannica. Retrieved 6 October 2013.
  2. ↑ "The Rediff Business Interview/ Mukesh Ambani". Rediff.com. 17 June 1998. Retrieved 22 August 2013.
  3. ↑ 3.0 3.1 Karmali, Naazneen (6 April 2016). "Meet Nita Ambani, The First Lady of Indian Business". Forbes. Retrieved 15 January 2022.
  4. ↑ 4.0 4.1 "Mukesh Ambani :: RIL :: Reliance Group of Industries". Reliance Industries Limited. Archived from the original on 16 April 2015. Retrieved 22 August 2013.
  5. ↑ Ray, Siladitya. "How Gautam Adani Lost More Than $60 Billion In Just 10 Days—And His Ranking As Asia's Richest". Forbes. Retrieved 4 February 2023.
  6. ↑ "Mukesh Ambani". Forbes. Retrieved 27 January 2023.
  7. ↑ "Real Time Billionaires". Forbes. Retrieved 27 January 2023.
  8. ↑ Majumdar, Shyamal (14 January 2015). "How Dhirubhai Ambani changed the style of doing business in India". Rediff.com. Retrieved 10 August 2021.
  9. ↑ Pandey, Piyush (22 June 2012). "RIL set to part with 'Only Vimal' brand". The Times of India. Retrieved 10 August 2021.
  10. ↑ "Life story of Mukesh Ambani". truthofthoughts.com. 23 February 2017. Retrieved 30 July 2018.
  11. ↑ "Reliance didn't grow on permit raj: Anil Ambani". Rediff.com. 11 May 2002. Retrieved 28 October 2010.
  12. ↑ 12.0 12.1 12.2 Giridharadas, Anand (15 June 2008). "Meet Mukesh Ambani: India's Richest Man". The New York Times. Retrieved 10 August 2021.
  13. ↑ Yardley, Jim (28 October 2010). "Soaring Above India's Poverty, a 27-Story Home". The New York Times. Retrieved 10 August 2021.
  14. ↑ Bhupta, Malini (17 January 2005). "Anand Jain: A bone of contention between the Ambani brothers". India Today. Retrieved 10 August 2021.
  15. ↑ Fernandes, Kasmin (2 January 2010). "St. Xavier's is the Indian Hogwarts". Mid-Day. Retrieved 10 August 2021.
  16. ↑ 16.0 16.1 16.2 "Mukesh Ambani on his childhood, youth". Rediff.com. 19 January 2007. Retrieved 10 August 2021.
  17. ↑ Ambani, Mukesh (2001). "Re-Orienting Education at UDCT". The Bombay Technologist. 50 (1): 33–35. ISSN 0067-9925. Archived from the original on 12 June 2020. Retrieved 12 June 2020.
  18. ↑ Kumar, Abhineet (17 August 2013). "Ambani tops retailer list, too". Business Standard. Retrieved 10 August 2021.
  19. ↑ "Bill Gates richest man in world, Mukesh Ambani at 36th: Forbes". The Economic Times. 2 March 2016. Retrieved 10 August 2021.
  20. ↑ "The World's Most Powerful People". Forbes. Retrieved 10 August 2021.
  21. ↑ "Real Time Billionaires". Forbes. Retrieved 12 February 2022.{{cite web}}: CS1 maint: url-status (link)
  22. ↑ "Billionaire Mukesh Ambani topples Jack Ma as Asia's richest person". The Times of India. 13 July 2018. Retrieved 10 August 2021.
  23. ↑ Balachandran, Manu (5 January 2015). "India's biggest philanthropist is seven times more generous than the next". Quartz India. Retrieved 10 August 2021.
  24. ↑ "Mukesh Ambani appointed Bank of America as director". The Economic Times. 16 March 2011. Retrieved 25 January 2019.
  25. ↑ Hiscock, Geoff (14 December 2010). "Indian tycoon Mukesh Ambani backs new soccer league". Herald Sun. Archived from the original on 10 August 2021. Retrieved 10 August 2021.
  26. ↑ "Richest Owners in Sports: Mukesh Ambani". Forbes. 12 March 2012. Retrieved 10 August 2021.
  27. ↑ 27.0 27.1 Magnier, Mark (24 October 2010). "Mumbai billionaire's home boasts 27 floors, ocean and slum views". Los Angeles Times. Retrieved 10 August 2021.
  28. ↑ Agarwal, Neeraj (30 March 2016). "India Before 1991: Stories of Life Under the License Raj". Spontaneous Order. Archived from the original on 30 March 2016. Retrieved 2 August 2018.
  29. ↑ "Reliance Industries Ltd. – Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd". referenceforbusiness.com. Advameg Inc. Retrieved 10 August 2021.
  30. ↑ "Mukesh Ambani – In His Own Words". wealthymatters. 4 February 2011. Retrieved 2 August 2018.
  31. ↑ "Reliance Infocomm Ushers a Digital Revolution in India". Press Release by Reliance Infocomm. Reliance Communications. 27 December 2002. Archived from the original on 23 July 2013. Retrieved 22 August 2013.
  32. ↑ Poza, Ernesto J. (29 January 2009). Family Business. Cengage Learning. ISBN 978-0-324-59769-1.
  33. ↑ Bagchi, Pradipta (7 July 2002). "Dhirubhai Ambani passes away". The Times of India. Retrieved 10 August 2021.
  34. ↑ "An insight into Mukesh Ambani's empire and how he became Asia's richest man". The National. 15 July 2018. Retrieved 10 August 2021.
  35. ↑ 35.0 35.1 Altstedter, Ari; Sanjai, P. R. (3 June 2020). "Mukesh Ambani Won the World's Most Expensive Sibling Rivalry". Bloomberg Businessweek. Retrieved 10 August 2021.
  36. ↑ Badkar, Mamta (26 May 2011). "The Full Story of the Massive Feud Between The Billionaire Ambani Brothers". Business Insider. Retrieved 10 August 2021.
  37. ↑ "Mukesh Ambani :: Reliance Group :: Reliance Petroleum Limited :: Reliance Industries". Reliance Industries Limited. Archived from the original on 4 April 2010. Retrieved 4 April 2010.
  38. ↑ "Mukesh Ambani hints at venture between Reliance Industries and Bharti Airtel". The Indian Express. 9 December 2013. Retrieved 10 August 2021.
  39. ↑ "Reliance 4G services to be launched in 2015: Mukesh Ambani". ABP News. 18 June 2014. Archived from the original on 19 June 2014. Retrieved 15 January 2022.
  40. ↑ "Mukesh Ambani elected to National Academy of Engineering, one of only 10 Indians". Firstpost. 8 February 2016. Archived from the original on 20 September 2020. Retrieved 10 August 2021.
  41. ↑ Gloria Singh, Surbhi (15 May 2016). "Mukesh Ambani's Reliance Jio Infocomm's LYF mobile: A whopping $1 billion brand?". Financial Express. Retrieved 14 July 2016.
  42. ↑ Agarwal, Sapna; Pathak, Kalpana (29 June 2016). "How Reliance Jio's LYF became India's third-largest selling phone brand". Mint. Retrieved 10 August 2021.
  43. ↑ Sundria, Saket (13 July 2018). "Analysis | Who Is Mukesh Ambani, Asia's Newest Richest Man?: QuickTake". Bloomberg. Retrieved 4 August 2018.
  44. ↑ Verma, Swati (7 January 2018). "Macro cues, Q3 earnings, and oil prices to sway market this week". The Economic Times. Retrieved 9 April 2018.
  45. ↑ Strauss, Marine; Lu, Wei (11 February 2018). "What If the World's Richest Paid for Government Spending?". Bloomberg. Retrieved 14 February 2018.
  46. ↑ "Arvind Kejriwal rakes up K G Basin gas pricing, orders FIRs against Moily, Deora, Mukesh Ambani". The Indian Express. 11 February 2014. Retrieved 10 August 2021.
  47. ↑ Nair, Anisha (23 February 2014). "Arvind Kejriwal calls BJP, Congress puppets of Mukesh Ambani". Oneindia. Retrieved 10 August 2021.
  48. ↑ "Arvind Kejriwal's letter to Mukesh Ambani on gas pricing". NDTV. 21 February 2014. Retrieved 10 August 2021.
  49. ↑ Ghosh, Deepshikha (21 February 2014). "Clear your stand on Mukesh Ambani: Arvind Kejriwal tells Narendra Modi, Rahul Gandhi". NDTV. Retrieved 10 August 2021.
  50. ↑ "Arvind Kejriwal fires on all cylinders, now writes to Rahul Gandhi over gas prices involving Mukesh Ambani". India Today. 24 February 2014. Retrieved 10 August 2021.
  51. ↑ "Arvind Kejriwal asks Narendra Modi to come clean on gas pricing". DNA. 21 February 2014. Archived from the original on 27 February 2014. Retrieved 10 August 2021.
  52. ↑ "Mukesh Ambani: India tycoon launches $25bn 5G rollout plan". BBC News. 30 August 2022. Retrieved 30 August 2022.
  53. ↑ "Mukesh Dhirubhai Ambani, Reliance Industries: Profile and Biography". Bloomberg. Retrieved 10 August 2021.
  54. ↑ "Entrepreneur of the Year – 2000 Winners". Ernst & Young. Archived from the original on 20 March 2013. Retrieved 10 June 2013.
  55. ↑ "Asia Society Awards Dinner Honors Mukesh Ambani, Jeffrey Immelt, and NY Philharmonic". Press Release on Asia Society. Asia Society. 4 November 2010. Retrieved 21 September 2011.
  56. ↑ "Mukesh Ambani awarded the Dean's Medal by University of Pennsylvania". Forbes India. 9 January 2010. Retrieved 10 August 2021.
  57. ↑ T. Hansen, Morten; Ibarra, Herminia; Peyer, Urs (January 2010). "Mukesh D. Ambani – 100 Best-Performing CEOs in the World". Harvard Business Review. Harvard Business Publishing. Archived from the original on 1 March 2012. Retrieved 10 August 2021.
  58. ↑ "BCIU Presents Dwight D. Eisenhower Global Awards to Mukesh D." Bloomberg. 11 November 2010. Archived from the original on 29 July 2014. Retrieved 1 August 2014.
  59. ↑ "Four Indian American Engineers Among Newly Elected NAE Members". India West. 9 February 2016. Archived from the original on 4 June 2016. Retrieved 18 June 2016.
  60. ↑ "Mr. Mukesh Dhirubhai Ambani". National Academy of Engineering. Retrieved 10 August 2021.
  61. ↑ "Mukesh Ambani awarded Othmer Gold Medal for Entrepreneurial Leadership". NetIndian News Network. 17 May 2016. Retrieved 17 May 2016.
  62. ↑ "Othmer Gold Medal". Science History Institute. 31 May 2016. Retrieved 10 August 2021.
  63. ↑ Staff, Scroll. "SEBI fines Reliance Industries, Mukesh Ambani Rs 40 crore for 'manipulative trades' in 2007". Scroll.in.
  64. ↑ "Reliance Petroleum case | SEBI fines Reliance Industries, Mukesh Ambani, two other entities". The Hindu. 1 January 2021 – via www.thehindu.com.
  65. ↑ Pathak, Kalpana (1 January 2021). "RPL case: Sebi slaps fine on Reliance, Ambani". mint.
  66. ↑ "SEBI imposes penalty on Mukesh Ambani and Reliance Industries for manipulative trading". Business Insider.
  67. ↑ "India's Reliance Industries and chairman fined over share trades". Reuters. 1 January 2021 – via www.reuters.com.
  68. ↑ "Reliance Industries Falls After Manipulation Charge, Trading Ban". Bloomberg. 27 March 2017 – via www.bloomberg.com.
  69. ↑ "India's young billionaire heirs and heiresses". India TV. 28 November 2012. Retrieved 10 August 2021.
  70. ↑ Vartak, Priyanka (24 November 2017). "Nita Ambani's story, from school teacher to India's wealthiest woman, is worth a read!". The Free Press Journal. Archived from the original on 24 November 2017. Retrieved 10 August 2021.
  71. ↑ Kwek, Glenda (15 October 2010). "India's richest man builds world's first billion-dollar home". The Age. Melbourne. Retrieved 10 August 2021.
  72. ↑ Hanrahan, Mark (18 May 2012). "Antilia: Inside Mukesh Ambani's 27-Story Mumbai Residence, The World's First $1 Billion Home (PHOTOS)". HuffPost. Retrieved 10 August 2021.
  73. ↑ "Mukesh Ambani gifts wife jet on birthday". Reuters. 2 November 2007. Retrieved 10 August 2021.
  74. ↑ "Mukesh Ambani gifts Rs 240 cr jet to wife". Rediff.com. 3 November 2007. Retrieved 10 August 2021.
  75. ↑ "Big business and Bollywood grab stakes in IPL". ESPNcricinfo. 24 January 2008. Retrieved 10 August 2021.
  76. ↑ Badenhausen, Kurt (7 March 2018). "The World's Richest Sports Team Owners 2018". Forbes. Retrieved 1 August 2018.
  77. ↑ "Mukesh Ambani is India's richest man for the second year in a row". thomaswhite.com. 1 June 2010. Archived from the original on 15 June 2013. Retrieved 9 April 2018.
  78. ↑ Chu, Patrick; Idayu Ismail, Netty (5 March 2012). "Mukesh Ambani Backed by India Power Holdings Proves Asia's Top Billionaire". Bloomberg. Retrieved 10 August 2021.
  79. ↑ "Mukesh Ambani forgoes Rs 23.82 crore from his pay package". The Times of India. 9 May 2012. Retrieved 15 January 2022.
  80. ↑ "Mukesh Ambani bomb scare brings Mumbai's dirty politics into the open". Financial Times. 4 April 2021.

External links

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