Mukesh Ambani

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The World's Richest Family
Born Flag of Yemen Aden, Yemen
Residence Flag of India Mumbai, India
Occupation Chairman, Managing Director of Reliance Industries
Net worth ▲ US$6075 Million
Spouse Nita Ambani

Mukesh Ambani (born April 19, 1957 in Yemen) is an Indian businessman and the world's sixteenth richest man. He is the chairman, managing director and the largest shareholder of Reliance Industries, India's largest private sector enterprise and a Fortune 500 company. [1] His personal stake in Reliance Industries is 7.15%.[2] His wealth is valued at US$3073 Million (according to Forbes). [3]

Mukesh and younger brother Anil are sons of the late founder of Reliance Industries, Dhirubhai Ambani. Ambani also owns the Indian Premier League team Mumbai Indians.

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[edit] Education

Mukesh Ambani was educated at Hill Grange High School, he did his graduation Bachelor in Chemical Engineering from UDCT Mumbai and later pursued an MBA at Stanford University but dropped out after his first year.[4]

[edit] Career

Mukesh Ambani joined Reliance in 1981 and initiated Reliance's backward integration from textiles into polyester fibres and further into petrochemicals. In this process, he directed the creation of 60 new, world-class manufacturing facilities involving diverse technologies that have raised Reliance's manufacturing capacities from less than a million tonnes to twelve million tonnes per year.

He directed and led the creation of the world's largest grassroots petroleum refinery at Jamnagar, Gujarat, India, with a present capacity of 660,000 barrels per day (33 million tonnes per year) integrated with petrochemicals, power generation, port and related infrastructure, at an investment of Rs 100000 crore (nearly $26 billion USD).

Mukesh Ambani set up one of the largest telecommunications companies in India in the form of Reliance Communications (formerly Reliance Infocomm) Limited. However, Reliance Infocom now is under Anil Dhirubhai Ambani Group post the brothers' split. Under Ambani's leadership, Reliance has entered retail business through its wholly owned subsidiary Reliance Retail.

Under him Reliance retail has also luanched a new venture by the name "DELIGHT" and also signed up an LOT(Letter Of Intent) with an US company NOVA for making energy effecient strucutures for Reliance Retails.

Ambani owns the Indian Premier League team Mumbai Indians. He has also set up the Dhirubhai Ambani International School in Mumbai.

[edit] Family

Mukesh Ambani is son of one of the most prominent businessmen in India, the late Dhirubhai Ambani, an Indian entrepreneur and founder of Reliance Industries.

His brother Anil Ambani heads Reliance Anil Dhirubhai Ambani Group with interests in telecom, power, natural resources, infrastructure and financial services. The Ambani brothers had a well-publicized spat after their father's death, which led to the Reliance Group being split between the two.

Mukesh Ambani is married to Nita Ambani, who looks after the social and charitable arm of Reliance industries. They have 3 children: Akash, Isha and Anant.

Mukesh Ambani is currently building the world's most expensive home (valued at nearly $1 billion). This will be a 27-story skyscraper in downtown Mumbai.

His family belongs to Modh Bania, a trading community in Gujarat, a coastal province of India.

[edit] Achievements

  • Chosen the businessman of the year 2007 by a public poll in India conducted by NDTV
  • Conferred the United States-India Business Council (USIBC) leadership award for "Global Vision" 2007 in Washington.
  • Ranked 42nd among the World's Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by Pricewaterhouse Coopers and published in Financial Times, London, November 2004.
  • Conferred the World Communication Award for the Most Influential Person in Telecommunications in 2004 by Total Telecom, October, 2004.
  • Chosen Telecom Man of the Year 2004 by Voice and Data magazine, September 2004.
  • Ranked 13th in Asia's Power 25 list of The Most Powerful People in Business published by Fortune magazine, August 2004.
  • Ranked No.1 for the second consecutive year, in The Power List 2004 published by India Today, March 2004.
  • Recorded as the first Trillionaire in India, June 2007.
  • Awarded the "Chitralekha Person of the Year Award -- 2007" by Gujarat Chief Minister Narendra Modi

[edit] References

  1. ^ FORTUNE Global 500 2006: Countries
  2. ^ The World's Billionaires. Forbes (2007-03-08). Retrieved on 2007-03-09. “Year 2007 .”
  3. ^ The World's Billionaires. Forbes (2008-03-05). Retrieved on 2008-05-14. “Year 2008”
  4. ^ Is MDA really an MBA. Telhelka (2005-01-01). Retrieved on 2008-05-14.

[edit] External links