Mukesh Ambani: Difference between revisions

| 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>

| 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>

'''Mukesh Dhirubhai Ambani''' (born 19 April 1957) is an Indian billionaire businessman. He is currently the chairman and managing director of [[Reliance Industries]], 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> With an estimated net worth of $87.2 billion {{as of|May 2023|lc=y}}, he is the richest person in [[Asia]] and 13th richest in the world.<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> He was listed as one of the [[Time 100|100 most influential people in the world]] by ''[[Time (magazine)|Time]]'' magazine in 2019.<ref name="TIME-2019-MI">{{cite news |last=Mahindra |first=Anand |author-link=Anand Mahindra |title=100 Most Influential People - Mukesh Ambani |url=https://time.com/collection/100-most-influential-people-2019/5567845/mukesh-ambani/ |date= |magazine=[[Time (magazine)|Time]] |access-date=19 May 2023 }}</ref>

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|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>

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>

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 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 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>

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 ===

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 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=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|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>

 

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>

* 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>

| Ernst & Young India

| 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

| School of Engineering and Applied Science Dean's Medal<ref>{{cite web|title=Mukesh 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=[[Forbes India]]|date=9 January 2010|access-date=10 August 2021}}</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

| [[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>

For [[Market manipulation|manipulating shares]] of [[Reliance Petroleum]] Limited (RPL), Reliance Industries was fined Rs. 950 crore (9.5 billion), split into 447 crore (4.47 billion) in retracted gains and 500 crore (5 billion) 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|author=Scroll Staff|website=Scroll.in|date=2 January 2021 }}</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>

[[File:Ambani Family at reception of Deepika and Ranveer 2018.jpg|thumb|260x260px|The [[Ambani]] Family at the reception of [[Deepika Padukone]] and [[Ranveer Singh]] in 2018.<ref>{{Cite web |title=Meet the Ambanis, the richest family in Asia, who live in a $1 billion skyscraper and mingle with royals, politicians, and Bollywood stars |url=https://www.businessinsider.in/meet-the-ambanis-the-richest-family-in-asia-who-live-in-a-1-billion-skyscraper-and-mingle-with-royals-politicians-and-bollywood-stars/articleshow/67150327.cms |access-date=11 February 2022 |website=Business Insider |archive-date=11 February 2022 |archive-url=https://web.archive.org/web/20220211022414/https://www.businessinsider.in/meet-the-ambanis-the-richest-family-in-asia-who-live-in-a-1-billion-skyscraper-and-mingle-with-royals-politicians-and-bollywood-stars/articleshow/67150327.cms |url-status=live }}</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 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|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]]|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>

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=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>

 

 

* {{Internet Archive author|sname=Mukesh Ambani}}