19 April 1957 |
|Residence||Mumbai, Maharashtra, India|
|Alma mater||Institute of Chemical Technology
Forest School (Walthamstow)
Stanford University (discontinued)
|Occupation||Chairman of Reliance Industries|
|Net worth||US$19.9 billion (October 2015)|
|Relatives||Anil Ambani (Brother)|
Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian business magnate who is the chairman, managing director and largest shareholder of Reliance Industries Limited (RIL), a Fortune Global 500 company and India's second most valuable company by market value. He resides at the Antilia Building, the world's most expensive property. He holds a 44.7% stake in the company. He is the elder son of the late Dhirubhai Ambani and the brother of Anil Ambani. RIL deals mainly in refining, petrochemicals, and in the oil and gas sectors. Reliance Retail Ltd., another subsidiary, is the largest retailer in India.
In 2014, he was ranked 36 on Forbes list of the world's most powerful people and in 2010, he was included in Forbes's list of "68 people who matter most". As of 2013, he is India's richest man and second richest man in Asia. Ambani is listed as the 19th richest person in the world with a personal wealth of $23.6 billion. He has retained his position as India's richest person for the sixth year in a row. Through Reliance, he also owns the Indian Premier League franchise Mumbai Indians. In 2012, Forbes named him one of the richest sports owners in the world.
He has served on the board of directors of Bank of America Corporation and the international advisory board of the Council on Foreign Relations. He was the chairman of the board of Indian Institute of Management Bangalore, which is one of the leading business schools in India.
Mukesh Ambani was born on 19 April 1957 to Dhirubhai Ambani and Kokilaben Ambani. He has a younger brother, Anil Ambani, and two sisters, Dipti Salgaoncar and Nina Kothari. The Ambani family lived in a modest two-bedroom apartment in Bhuleshwar, Mumbai until the 1970s. Dhirubhai later purchased a 14-floor apartment block called 'Sea Wind' in Colaba, where, until recently, Mukesh and Anil lived with their families on different floors.
He attended the Hill Grange High School at Peddar Road, Mumbai, along with his brother and where Anand Jain, his close associate, was his classmate. He received his BE degree in Chemical Engineering from the Institute of Chemical Technology, Matunga. Mukesh later enrolled for an MBA at Stanford University but has discontinued the program to help his father build Reliance, which at the time was still a small but fast growing enterprise.
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. In spite of stiff competition from Tatas, Birlas and 43 others, Dhirubhai was awarded the licence. To help him build the PFY plant, Dhirubhai pulled his eldest son Mukesh out of Stanford where he was studying for his MBA. Mukesh Ambani, then discontinued the program to help his father and initiated Reliance's backward integration from textiles into polyester fibres and further into petrochemicals, beginning in 1981.
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.
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.
In February 2014, an FIR has been filed against Mukesh Ambani for alleged irregularities in the pricing of natural gas from K G Basin. Arvind Kejriwal, who had a short stint as Delhi's chief minister and had ordered the FIR against has accused various political parties of being silent on the gas price issue. Kejriwal has asked both Rahul Gandhi and Narendra Modi to clear their stand on the gas pricing issue. Kejriwal has alleged that the Centre inflated the price of gas 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.
On 18 June 2014, Mukesh Ambani, addressing the 40th AGM of Reliance Industries, said it will invest Rs 1.8 trillion (short scale) across businesses in the next three years and launch 4G broadband services in 2015.
- 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
- Former chairman, Indian Petrochemicals Corporation Limited
- Former vice-chairman, Reliance Petroleum
- chairman of the board, Reliance Petroleum
- Chairman and Chairman of Audit Committee, Reliance Retail Limited.
- Chairman, Reliance Exploration and Production DMCC
- Former Director, Member of Credit Committee and Member of Compensation & Benefits Committee', Bank of America Corporation
- President, Pandit Deendayal Petroleum University, Gandhinagar, Gujarat
Awards and honors
|Year of Award or Honor||Name of Award or Honor||Awarding Organization|
|2000||Ernst & Young Entrepreneur of the Year||Ernst & Young India|
|2010||Global Vision Award at The Awards Dinner||Asia Society|
|2010||Business Leader of the Year||NDTV India|
|2010||Businessman of the Year||Financial Chronicle|
|2010||School of Engineering and Applied Science Dean's Medal||University of Pennsylvania.|
|2010||Global Leadership Award||Business Council for International Understanding|
|2010||Honorary Doctorate (Doctor of Science)||M. S. University of Baroda|
Mukesh is married to Nita Ambani and has two sons, Anant and Akash, and a daughter, Isha. They live in a private 27-storey building in Mumbai named Antilia valued at US$1 billion and it is said to be the most expensive home in history.
During the fiscal year ending 31 March 2012, Mukesh, it was reported, decided to forgo nearly Rs 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. This move kept his salary capped at Rs 150 million for the fourth year in a row.
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- "Mukesh Ambani hints at venture between Reliance Industries and Bharti Airtel". The Indian Express. 9 December 2013.
- "Arvind Kejriwal rakes up K G Basin gas pricing, orders FIRs against Moily, Deora, Mukesh Ambani". The Indian Express. 11 February 2014.
- Nair, Anisha (23 February 2014). "Arvind Kejriwal calls BJP, Congress puppets of Mukesh Ambani". news.oneindia.in.
- "Arvind Kejriwal's letter to Mukesh Ambani on gas pricing".
- Ghosh, Deepshikha (21 February 2014). "Clear your stand on Mukesh Ambani: Arvind Kejriwal tells Narendra Modi, Rahul Gandhi".
- "Arvind Kejriwal fires on all cylinders, now writes to Rahul Gandhi over gas prices involving Mukesh Ambani". India Today. 24 February 2014.
- "Arvind Kejriwal asks Narendra Modi to come clean on gas pricing". DNA India. 21 February 2014.
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- "Ernst & Young Entrepreneur of the Year Award". Retrieved 10 June 2013.
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- "M.S. University Confers Degree of Doctor of Science Honoris Causa To Mukesh Ambani". Retrieved 15 October 2010.
- "India's young billionaire heirs and heiresses". Retrieved 7 January 2014.
- Magnier, Mark (24 October 2010). "Mumbai billionaire's home boasts 27 floors, ocean and slum views". Los Angeles Times.
- "Mukesh Ambani forgoes Rs 23.82 crore from his pay package". The Times of India. 9 May 2012.
|Wikimedia Commons has media related to Mukesh Ambani.|
- Profile at Reliance Industries
- Profile at Forbes
- Mukesh Ambani collected news and commentary at Bloomberg News
- Mukesh Ambani collected news and commentary at The New York Times
- Mukesh Ambani collected news and commentary at The Wall Street Journal
- Mukesh Ambani collected news and commentary at The Economist
- Mukesh Ambani collected news and commentary at The Times of India
- Works by or about Mukesh Ambani in libraries (WorldCat catalog)