19 April 1957 |
Aden, Colony of Aden (now Yemen)
|Residence||Mumbai, Maharashtra, India|
|Alma mater||Institute of Chemical Technology
Forest School (Walthamstow)
Stanford University (discontinued)
|Occupation||Chairman of Reliance Industries|
|Net worth||US$21.6 billion (February 2016)|
|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 Kokilaben 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 retains his title as India's richest person for the ninth consecutive year. 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 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|
|2013||Millennium Business Leader of the Decade at Indian Affairs India Leadership Conclave Awards 2013)||India Leadership Conclave & Indian Affairs Business Leadership Awards|
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 one of the most expensive homes ever built.
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.
- Nolan, Jeannette. "Mukesh Ambani". Encyclopædia Britannica. Retrieved 6 October 2013.
- "The Rediff Business Interview/ Mukesh Ambani". Rediff.com. 17 June 1998. Retrieved 22 August 2013.
- "Meet the Gujarati who went on to become the richest Indian". Daily Bhaskar. Retrieved 29 January 2014.
- 'Always invest in businesses of the future and in talent'. Rediff.com. 17 January 2007
- "Mukesh Ambani". Forbes. Retrieved 2 February 2016.
- "NY Times pics on Mukesh Ambani". The New York Times (India). 15 June 2008. Retrieved 22 August 2013.
- "Mukesh Ambani :: RIL :: Reliance Group of Industries". RIL.com. Retrieved 22 August 2013.
- "FORTUNE Global 500 2011: Countries". CNN. 24 July 2011. Retrieved 22 August 2013.
- "Market Capitalization". Indian stock markets:Companies by Market Capitalization. Rediff.com.
- Magnier, Mark (24 October 2010). "Mumbai billionaire's home boasts 27 floors, ocean and slum views". Los Angeles Times.
- Kwek, Glenda (15 October 2010). "India's richest man builds first $2-billion home, Antilia,". The Age (Melbourne). Retrieved 28 October 2010.
- Chu, Patrick; Ismail, Netty (5 March 2012). "Mukesh Ambani Backed by India Power Holdings Proves Asia's Top Billionaire". Bloomberg. Retrieved 22 August 2013.
- "Ambani tops retailer list, too". Business Standard. Retrieved 19 August 2013.
- "Sonia Gandhi, Tata in Forbes' most powerful people list". The Hindu (Chennai, India). 4 November 2010.
- "Mukesh Ambani richest Indian with wealth of $21 billion: Forbes". CNN-IBN. 25 October 2012
- Van Riper, Tom. "Mukesh Ambani in photos". Forbes. Retrieved 22 August 2013.
- "Mumbai Indians owner Mukesh Ambani among richest sport owners". Cricic.com. 20 January 2010. Retrieved 22 August 2013.
- "Reliance didn't grow on permit raj: Anil Ambani". Rediff.com. 11 May 2002. Retrieved 28 October 2010.
- Yardley, Jim (28 October 2010). "Soaring Above India's Poverty, a 27-Story Home". The New York Times.
- Anand Jain: A bone of contention between the Ambani brothers. India Today. 17 January 2005
- "Mukesh Ambani on his childhood, youth". Mukesh Ambani on his childhood, youth. Rediff.com. Retrieved 5 October 2011.
- "Always invest in businesses of the future and in talent". Rediff Business – Interview with Mukesh Ambani, 2007. Rediff.com. Retrieved 17 October 2011.
- "Reliance Industries – Company Profile". Reliance Industries Ltd. – Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd. Read more: Reliance Industries Ltd. – Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd.- Reference for Business. Advameg Inc. Retrieved 17 October 2011.
- "Mukesh Ambani :: RIL :: Reliance Group of Industries". RIL. Retrieved 29 March 2010.
- "Reliance Infocomm Ushers a Digital Revolution in India". Press Release by Reliance Infocomm. Reliance Communications. 27 December 2002. Retrieved 22 August 2013.
- "Mukesh Ambani :: Reliance Group :: Reliance Petroleum Limited :: Reliance Industries". RIL. Retrieved 18 February 2010.
- "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.
- "Reliance 4G services to be launched in 2015: Mukesh Ambani". ABP Live. 18 June 2014.
- "Mukesh Ambani – Executive Profile & Biography". Mukesh Ambani – Executive Profile & Biography – Bloomberg Businessweek. Bloomberg.
- Mulgund, Shreyas (January 2010). "The 100 Best-Performing CEOs in the World". Harvard Business Review. Harvard Business Publishing. Retrieved 21 September 2011.
- "Ernst & Young Entrepreneur of the Year Award". Retrieved 10 June 2013.
- Mulgund, Shreyas. "Asia Society Awards Dinner Honors Mukesh Ambani, Jeffrey Immelt, and NY Philharmonic". Press Release on Asia Society. Asia Society. Retrieved 21 September 2011.
- Mulgund, Shreyas. "Winners of the NDTV Business Leadership Awards". Winners of the NDTV Business Leadership Awards. NDTV Convergence Limited. Retrieved 21 September 2011.
- Mulgund, Shreyas (30 December 2010). "FC Businessman of the Year: Mukesh Ambani". Financial Chronicle.
- "IMukesh Ambani awarded the Dean's Medal by University of Pennsylvania". Mukesh Ambani awarded the Dean's Medal by University of Pennsylvania. FORBES. Retrieved 9 January 2010.
- "BCIU Presents Dwight D. Eisenhower Global Awards to Mukesh D". Bloomberg. Retrieved 1 August 2012.
- "M.S. University Confers Degree of Doctor of Science Honoris Causa To Mukesh Ambani". Retrieved 15 October 2010.
- "Priyanka Chopra, Manish Malhotra, Dr. Mukesh Batra, Ratan Tata, Mukesh Ambani, Dr. Laud, Dr. Mukesh Hariawala, Dilip Surana Among Others to Receive Prestigious India Leadership Conclave Awards 2013".
- "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)