Mumbai, India – Mukesh Dhirubhai Ambani, born on April 19, 1957, in Aden (now Yemen), stands as one of the world’s most prominent businessmen, leading Reliance Industries, India’s largest conglomerate. With a staggering net worth of $119.5 billion as of October 2024, Ambani ranks as Asia’s richest individual and the 9th wealthiest globally.
Early Life and Education
Born into a modest Gujarati Hindu family, Ambani is the elder son of Dhirubhai Ambani, the visionary founder of Reliance, and Kokilaben Ambani. His family moved back to India in 1958, residing in a two-bedroom apartment in Mumbai before relocating to the luxurious ‘Sea Wind’ apartment block in Colaba during the 1970s.
Ambani’s educational journey began at Hill Grange High School in Mumbai, followed by St. Xavier’s College. He earned a degree in chemical engineering from the Institute of Chemical Technology and briefly attended Stanford University for an MBA. However, he left the program in 1980 to assist his father in expanding Reliance Industries.
Building an Empire
Under Mukesh Ambani’s leadership, Reliance grew exponentially, diversifying into petrochemicals, telecommunications, and retail. Notably, he spearheaded the construction of the Jamnagar refinery, the world’s largest petroleum refinery, and launched Reliance Jio, which revolutionized India’s digital landscape.
In 2008, Ambani acquired the Mumbai Indians IPL franchise for $111.9 million, further cementing his influence in India’s sports and entertainment sectors. His family resides in Antilia, a 27-story Mumbai skyscraper valued at $1 billion, often dubbed the world’s most expensive private residence.
Controversies and Challenges
Ambani’s career has not been without controversy. Allegations of market manipulation and political cronyism have occasionally shadowed his achievements. Reliance Industries was fined ₹950 crore in 2007 for share manipulation involving Reliance Petroleum Limited.
In 2014, an FIR was filed against him for alleged irregularities in natural gas pricing. However, Ambani’s resilience and focus on innovation have kept him at the forefront of India’s business landscape.
Philanthropy and Recognition
Despite his immense wealth, Ambani has demonstrated a commitment to philanthropy. In 2015, he ranked as the fifth-largest philanthropist in India, as per China’s Hurun Research Institute. Globally, he has earned accolades, including the Othmer Gold Medal and membership in the U.S. National Academy of Engineering.
Ambani also holds significant roles on the boards of major organizations, including the World Economic Forum and Bank of America, where he became the first non-American director.
Personal Life and Recent Highlights
Ambani married Nita Ambani in 1985. The couple has three children: Akash, Isha, and Anant. Known for their opulent lifestyle, the Ambanis hosted a three-day wedding for Anant Ambani and Radhika Merchant in July 2024, estimated to cost between $300 million and $600 million. The event drew both admiration and criticism, highlighting India’s widening wealth gap.
Recently, Mukesh Ambani acquired a Boeing 737 Max 9 aircraft, reportedly valued at ₹1,000 crore, for family travel.
As a strict vegetarian and teetotaler, Ambani’s disciplined personal choices contrast sharply with his larger-than-life public persona. His enduring legacy lies in transforming Reliance Industries into a global powerhouse, shaping India’s economic narrative, and maintaining his position as one of the most influential figures in the world.
