Mukesh Ambani, Indian entrepreneur, Managing Director of Reliance Industries Ltd & Billionaire Business Magnate

Mukesh Ambani
Mukesh Ambani: Indian entrepreneur

Today you will read the Biography of Mukesh Ambani. Reading success stories of Indian Entrepreneurs stimulates motivational enzymes within us and we all wish to emulate them on the path of success.

Exactly with this aim, SugerMint is presenting you series of success stories of Indian Entrepreneurs, Indian Social Entrepreneurs, and Women Entrepreneurs, who have carved niche in their own way and have become icons.

Following above, today you will read the Biography of Mukesh Ambani, Managing Director of Reliance Industries Ltd

Who is Mukesh Ambani

Mukesh Dhirubhai Ambani is an Indian entrepreneur, the largest shareholder, billionaire business magnate, chairperson and managing director of Reliance Industries Ltd. He was the richest man in Asia until 2020.

He was born on 19th April 1957 in Yemen. His father’s name is Dhirubhai Ambani and his mother’s name is Kokilaben Ambani.

He has one brother Anil Ambani and two Sisters, Nina Kothari and Dipti Salgaocar. They lived only briefly in Yamen as Dhirubhai decided to move back to India in 1958.

He wanted to start a trading business for spices and textiles. Until 1970, they lived in a two-bedroom apartment in Bhuleshwar, Mumbai.

Later his father Dhirubhai purchased a 14-floor apartment block called ‘Sea Wind’ in Colaba.

Mukesh Ambani Education:

He completed his schooling from Hill Grange Highschool at Paddar road, Mumbai. He completed his BE in Chemical Engineering from Institute of Chemical Technology.

He enrolled for MBA at Stanford University but withdrew in 1980 to help his father build Reliance. His father Dhirubhai believes that real-life skills were harnessed through experience, not by education.

Entrepreneurial Journey

He started to help Dhirubhai in running family business in 1981. By the time the business also included products and services in retail and communication industries.

Reliance Jio has earned a top-five spot in the country’s telecommunication services since 2016.

As of 2016, he was ranked 38, and consistently held the title of India’s richest person on Forbes magazine’s list for the past ten years.

He is the only businessperson on Forbes’s list of world’s most powerful people. In January 2018, he was ranked 18th wealthiest person in the world by Forbs magazine.

He is also the wealthiest person in the world outside North America and Europe. He ranked fifth among India’s philanthropists, according to China’s Hurun Research Institute in 2015.

He became the first non-American to become Director of Bank of America. Through Reliance, he owned Indian Premier League franchise Mumbai Indians.

He is a founder of the Indian Super League, a football league in India. Forbes named him one of the richest sports owners in 2012.

His residence Antilia Building is one of the world’s most expensive private residences. Its value reaches $1 billion.

Biography of Mukesh Ambani

Full Name: Mukesh Dhirubhai Ambani
Born: 19 April 1957
Education: Institute of Chemical Technology (ICT) Mumbai
Wife: Nita Ambani
Brother: Anil Ambani
Son: Akash Ambani, Anant Ambani
Daughter: Isha Ambani
Net Worth: US$55.8 billion
Awards: The Ernst & Young Entrepreneur of the Year, NDTV Business leader of
the year

Personal life:

In 1985, he married to Nita Ambani. They met after Dhirubhai attended a dance performance which nita look part in and thought of the idea of arranging a marriage between the two.

They have two sons, Anant and Akash, and a daughter Isha. They live in Antilia, a private 27-story residence.

There are 600 staff members for maintenance. It includes three helipads, a car parking for 160 cars a private movie theatre, a fitness center, and a swimming pool.

He gifted a 60 million Airbus A319 to his wife on her 44th birthday in 2007. The Airbus has a capacity of 180 passengers, satellite television, Wi-Fi, sky bar, Jacuzzi, and an office.

It has been custom fitted to include a living room and bedroom also. His favorite food is Idli Sambar and his favorite restaurant remains Mysore Café at Kings Circle Mumbai.

Dhirubhai Ambani: The journey from ₹15000 to becoming a billionaire

He is a strict vegetarian and a teetotaller. He is a very big fan of Bollywood movies. He holds a 44.7% stake in the company.

In 1980, the Indian government opened PFY manufacturing to the private sector. Dhirubhai applied for a licence to set up a PFY manufacturing plant.

In spite of stiff competition from Tata, Birla, and 43 others Dhirubhai awarded the licence, more commonly known as the Licence Raj.

Mukesh Ambani joined him to build the PFY plant. After joining the company, he daily reported to Rasikbhai Meswani, then executive director.

Dhirubhai treated Mukesh as a business partner and allowed him to contribute with little experience.

That started after Rasikbhai’s death in 1985 and Dhirubhai also suffered from a stroke in 1986.

At that time, all responsibility shifted to Mukesh and Anil Ambani. Mukesh Ambani set up Reliance Communications Limited; he was given the charge to Patalganga plant. At that time the company was investing in oil refinery and petrochemicals heavily.

In July 2002, Dhirubhai died after second stroke. That elevated tension between Anil and Mukesh, as Dhirubhai had not left will for distribution.

Mother Kokilaben intervened to stop it. She divided the company into two. Mukesh Ambani received the control of Reliance Industries Limited and Indian Petrochemical Corporation Limited.

Successful Indian entrepreneurs Stories and their contributions to society

Bombay High Court later approved Indian Petrochemical Company Limited in December 2005.

Mukesh Ambani directed and led the creation of Reliance Petroleum Limited, the world’s largest petroleum refinery at Jamnagar, India.

The refinery had the capacity to produce 660,000 barrels per day (33 million tonnes per year) in 2010.

In December 2013, he announced the possibility of a “collaboration venture” with Bharti Airtel for a 4G network in India.

In February 2016, he launched jio, its own smartphone brand named LYF. It was India’s third largest selling mobile phone brand in June 2016.

During the 40th annual general meeting of RIL, he announced bonus shares in the ratio of 1:1. That was the country’s largest bonus issue in India.

In February 2014, an FIR alleging criminal offenses filed against Ambani for irregular pricing of natural gas from the KG basin.

Arvind Kejriwal asked Rahul Gandhi and Narendra Modi to clear the stand on the gas pricing issue.

We hope you find the inspirational success story and Biography of Mukesh Ambani, Indian entrepreneur, Managing Director of Reliance Industries Ltd & Billionaire Business Magnet inspiring through your entrepreneurial journey and will keep you inspired.

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