Mukesh Ambani - Wikipedia

Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian billionaire businessman, and the chairman, managing director, and largest shareholder of Reliance ... MukeshAmbani FromWikipedia,thefreeencyclopedia Jumptonavigation Jumptosearch ChairmanofRelianceIndustries MukeshAmbaniAmbaniin2010BornMukeshDhirubhaiAmbani(1957-04-19)19April1957(age 64)Aden,ColonyofAden(present-dayYemen)[1][2]NationalityIndianAlma materSt.Xavier'sCollege,MumbaiInstituteofChemicalTechnology(B.E.)StanfordUniversity(drop-out)OccupationChairmanandMD,RelianceIndustriesSpouse(s)NitaAmbani​(m. 1985)​[3]Children3Parent(s)DhirubhaiAmbani(father)KokilabenAmbani(mother)RelativesAnilAmbani(brother)TinaAmbani(sister-in-law) MukeshDhirubhaiAmbani(born19April1957)isanIndianbillionairebusinessman,andthechairman,managingdirector,andlargestshareholderofRelianceIndustriesLtd.(RIL),aFortuneGlobal500companyandIndia'smostvaluablecompanybymarketvalue.[4]AccordingtoForbes,heistherichestpersoninAsiawithanetworthofUS$90billion[5]andthe11thrichestpersonintheworld,asof2December2021. Contents 1Earlylife 2Education 3Career 4Timeline 4.11980s–1990s 4.22000s–Present 5Boardmemberships 6Awardsandhonors 7Personallife 8Seealso 9References 10Externallinks Earlylife MukeshDhirubhaiAmbaniwasbornon19April1957intheBritishCrowncolonyofAden(present-dayYemen)toDhirubhaiAmbaniandKokilabenAmbani.HehasayoungerbrotherAnilAmbaniandtwosisters,NinaBhadrashyamKothariandDiptiDattarajSalgaonkar. AmbanilivedonlybrieflyinYemen,becausehisfatherdecidedtomovebacktoIndiain1958[6]tostartatradingbusinessthatfocusedonspicesandtextiles.Thelatterwasoriginallynamed"Vimal"butlaterchangedto"OnlyVimal".[7][8]Hisfamilylivedinamodesttwo-bedroomapartmentinBhuleshwar,Mumbaiuntilthe1970s.[9]Thefamily'sfinancialstatusslightlyimprovedwhentheymovedtoIndiabutAmbanistilllivedinacommunalsociety,usedpublictransportation,andneverreceivedanallowance.[10]Dhirubhailaterpurchaseda14-floorapartmentblockcalled'SeaWind'inColaba,where,untilrecently,Ambaniandhisbrotherlivedwiththeirfamiliesondifferentfloors.[11] Education AmbaniattendedtheHillGrangeHighSchoolatPeddarRoad,Mumbai,alongwithhisbrotherandAnandJain,wholaterbecamehiscloseassociate.[12]Afterhissecondaryschooling,hestudiedattheSt.Xavier'sCollege,Mumbai.[13]HethenreceivedaBEdegreeinchemicalengineeringfromtheInstituteofChemicalTechnology.[14][15] AmbanilaterenrolledforanMBAatStanfordUniversity,butwithdrewin1980tohelphisfatherbuildReliance,whichatthetimewasstillasmallbutfast-growingenterprise.[14]Hisfatherfeltthatreal-lifeskillswereharnessedthroughexperiencesandnotbysittinginaclassroom,sohecalledhissonbacktoIndiafromStanfordtotakecommandofayarnmanufacturingprojectinhiscompany.[10] AmbanihasbeenquotedassayingthathewasinfluencedbyhisteachersWilliamF.SharpeandManMohanSharmabecausetheyare"thekindofprofessorswhomadeyouthinkoutofthebox."[14] Career In1981hestartedtohelphisfatherDhirubhaiAmbaniruntheirfamilybusiness,RelianceIndustriesLimited.Bythistime,ithadalreadyexpandedsothatitalsodealtinrefiningandpetrochemicals.Thebusinessalsoincludedproductsandservicesinretailandtelecommunicationsindustries.RelianceRetailLtd.,anothersubsidiary,isalsothelargestretailerinIndia.[16]Reliance'sJiohasearnedatop-fivespotinthecountry'stelecommunicationservicessinceitspubliclaunchon5September2016. Asof2016,Ambaniwasranked36andhasconsistentlyheldthetitleofIndia'srichestpersononForbesmagazine'slistforthepasttenyears.[17]HeistheonlyIndianbusinessmanonForbes'listoftheworld'smostpowerfulpeople.[18]AsofOctober2020,MukeshAmbaniwasrankedbyForbesasthe6th-wealthiestpersonintheworld.[19]HesurpassedJackMa,executivechairmanofAlibabaGroup,tobecomeAsia'srichestpersonwithanetworthof$44.3billioninJuly2018.HeisalsothewealthiestpersonintheworldoutsideNorthAmericaandEurope.[20]Asof2015,AmbanirankedfifthamongIndia'sphilanthropists,accordingtoChina'sHurunResearchInstitute.[21]HewasappointedasaDirectorofBankofAmericaandbecamethefirstnon-Americantobeonitsboard.[22] ThroughReliance,healsoownstheIndianPremierLeaguefranchiseMumbaiIndiansandisthefounderofIndianSuperLeague,afootballleagueinIndia.[23]In2012,Forbesnamedhimoneoftherichestsportsownersintheworld.[24]HeresidesattheAntiliaBuilding,oneoftheworld'smostexpensiveprivateresidenceswithitsvaluereaching$1billion.[25] Timeline 1980s–1990s In1980,theIndiangovernmentunderIndiraGandhiopenedPFY(polyesterfilamentyarn)manufacturingtotheprivatesector.DhirubhaiAmbaniappliedforalicensetosetupaPFYmanufacturingplant.Obtainingthelicensewasalong-drawn-outprocessrequiringastrongconnectionwithinthebureaucracysystembecausethegovernment,atthetime,wasrestrictinglarge-scalemanufacturing,makingtheimportationofyarnforthetextilesimpossible.[26]InspiteofstiffcompetitionfromTatas,Birlasand43others,Dhirubhaiwasawardedthelicense,morecommonlyaddressedasLicenseRaj.[27]TohelphimbuildthePFYplant,DhirubhaipulledhiseldestsonoutofStanford,wherehewasstudyingforhisMBA,toworkwithhiminthecompany.Ambanididnotreturntohisuniversityprogram,leadingReliance'sbackwardintegration,wherecompaniesowntheirsupplierstogeneratemorerevenueandimproveefficiency,in1981fromtextilesintopolyesterfibersandfurtherintopetrochemicals,whichtheyarnsweremadefrom.[4]Afterjoiningthecompany,hereporteddailytoRasikbhaiMeswani,thenexecutivedirector.Thecompanywasbeingbuiltfromscratchwiththeprincipleofeverybodycontributingtothebusinessandnotheavilydependonselectedindividuals.Dhirubhaitreatedhimasabusinesspartnerallowinghimthefreedomtocontributeevenwithlittleexperience.[10]ThisprinciplecameintoplayafterRasikbhai'sdeathin1985alongwithDhirubhaisufferingastrokein1986whenalltheresponsibilityshiftedtoAmbaniandhisbrother.[28]MukeshAmbanisetupRelianceInfocommLimited(nowRelianceCommunicationsLimited),whichwasfocusedoninformationandcommunicationstechnologyinitiatives.[29]Attheageof24,AmbaniwasgivenchargeoftheconstructionofPatalgangapetrochemicalplantwhenthecompanywasheavilyinvestinginoilrefineryandpetrochemicals.[30] 2000s–Present On6July2002,Mukesh'sfatherdiedaftersufferingasecondstroke,[31]whichelevatedtensionsbetweenthebrothersasDhirubhaihadnotleftawillforthedistributionoftheempirein2004.[32]Theirmotherintervenedtostopthefeud,splittingthecompanyintotwo,AmbanireceivingcontrolofRelianceIndustriesLimitedandIndianPetrochemicalsCorporationLimited,whichwaslaterapprovedbytheBombayHighCourtinDecember2005.[33][34] Ambanidirectedandledthecreationoftheworld'slargestgrassrootspetroleumrefineryatJamnagar,India,whichhadthecapacitytoproduce660,000barrelsperday(33milliontonnesperyear)in2010,integratedwithpetrochemicals,powergeneration,port,andrelatedinfrastructure.[35]InDecember2013Ambaniannounced,attheProgressivePunjabSummitinMohali,thepossibilityofa"collaborativeventure"withBhartiAirtelinsettingupdigitalinfrastructureforthe4GnetworkinIndia.[36]On18June2014,MukeshAmbani,whileaddressingthe40thAGMofRelianceIndustries,saidhewillinvestRs1.8trillion(shortscale)acrossbusinessesinthenextthreeyearsandlaunch4Gbroadbandservicesin2015.[37] AmbaniwaselectedasamemberintotheNationalAcademyofEngineeringin2016forengineeringandbusinessleadershipinoilrefineries,petrochemicalproducts,andrelatedindustries.[38]InFebruary2016,Ambani-ledJiolauncheditsown4GsmartphonebrandnamedLYF.[39]InJune2016,itwasIndia'sthird-largest-sellingmobilephonebrand.[40]ThereleaseoftheserviceRelianceJioInfocommLimited,commonlyknownasJio,inSeptember2016wasasuccess,andReliance'ssharesincreased.[41]Duringthe40thannualgeneralmeetingofRIL,heannouncedbonussharesintheratioof1:1whichisthecountry'slargestbonusissueinIndia,andannouncedtheJioPhoneataneffectivepriceof₹0.[42]AsofFebruary2018,Bloomberg's"RobinHoodIndex"estimatedthatAmbani'spersonalwealthwasenoughtofundtheoperationsoftheIndianfederalgovernmentfor20days.[43] InFebruary2014,aFirstInformationReport(FIR)allegingcriminaloffenseswasfiledagainstMukeshAmbaniforallegedirregularitiesinthepricingofnaturalgasfromtheKGbasin.[44]ArvindKejriwal,whohadashortstintasDelhi'schiefministerandhadorderedtheFIR,hasaccusedvariouspoliticalpartiesofbeingsilentonthegaspriceissue.[45]KejriwalhasaskedbothRahulGandhiandNarendraModitocleartheirstandonthegaspricingissue.[46][47]KejriwalhasallegedthattheCentreallowedthepriceofgastobeinflatedtoeightdollarsaunitthoughMukeshAmbani'scompanyspendsonlyonedollartoproduceaunit,whichmeantalossofRs.540billiontothecountryannually.[48][49] Boardmemberships MemberofBoardofGovernorsInstituteofChemicalTechnology,Mumbai Chairman,managingdirector,ChairmanofFinanceCommitteeandMemberofEmployeesStockCompensationCommittee,RelianceIndustriesLimited Formerchairman,IndianPetrochemicalsCorporationLimited Formervice-chairman,ReliancePetroleum Chairmanoftheboard,ReliancePetroleum ChairmanandChairmanofAuditCommittee,RelianceRetailLimited Chairman,RelianceExplorationandProductionDMCC FormerDirector,MemberofCreditCommitteeandMemberofCompensation&BenefitsCommittee,BankofAmericaCorporation[50] President,PanditDeendayalPetroleumUniversity,Gandhinagar,Gujarat Awardsandhonors YearofAwardorHonor NameofAwardorHonor AwardingOrganization 2000 Ernst&YoungEntrepreneuroftheYear[51] Ernst&YoungIndia 2010 GlobalVisionAwardatTheAwardsDinner[52] AsiaSociety 2010 BusinessLeaderoftheYear[53] NDTVIndia 2010 BusinessmanoftheYear[54] FinancialChronicle 2010 SchoolofEngineeringandAppliedScienceDean'sMedal[55] UniversityofPennsylvania 2010 ranked5th-bestperformingglobalCEO[56] HarvardBusinessReview 2010 GlobalLeadershipAward[57] BusinessCouncilforInternationalUnderstanding 2010 HonoraryDoctorate(DoctorofScience)[58] M.S.UniversityofBaroda 2013 MillenniumBusinessLeaderoftheDecadeatIndianAffairsIndiaLeadershipConclaveAwards2013)[59] IndiaLeadershipConclave&IndianAffairsBusinessLeadershipAwards 2016 Foreignassociate,U.S.NationalAcademyofEngineering[60][61] NationalAcademyofEngineering 2016 OthmerGoldMedal[62][63] ChemicalHeritageFoundation Personallife HemarriedNitaAmbaniin1985andtheyhavetwosons,AkashandAnant,andadaughter,Isha.[3][64]TheymetafterhisfatherattendedadanceperformancewhichNitatookpartinandthoughtoftheideaofarrangingamarriagebetweenthetwo.[65] TheyliveinAntilia,aprivate27-storeybuildinginMumbai,whichwasvaluedatUS$1 billionandwasthemostexpensiveprivateresidenceintheworldatthetimeitwasbuilt.[25][66]Thebuildingrequiresastaffof600formaintenance,anditincludesthreehelipads,a160-cargarage,privatemovietheater,swimmingpool,andfitnesscenter.[67] In2007,Ambanigiftedhiswifea$60millionAirbusA319forher44thbirthday.[68]TheAirbus,whichhasacapacityof180passengers,hasbeencustom-fittedtoincludealivingroom,bedroom,satellitetelevision,WiFi,skybar,Jacuzzi,andanoffice.[69] Ambaniwastitled"TheWorld'sRichestSportsTeamOwner"afterhispurchaseoftheIPLcricketteamMumbaiIndiansfor$111.9millionin2008.[70][71] InaninterviewwithRajdeepSardesaiinMarch2017,hesaidthathisfavouritefoodcontinuedtobeidlisambarandhisfavouriterestaurantremainsMysoreCafé,arestaurantinKing'sCircle(Mumbai)whereheusedtoeatasastudentatUDCT.[72]MukeshAmbaniisastrictvegetarianandteetotaler.[73]HeisaverybigfanofBollywoodmovies,watchingthreeaweekbecausehesays"youneedsomeamountofescapisminlife."[10][32] Duringthefiscalyearending31March2012,hereportedlydecidedtoforgonearly₹240millionfromhisannualpayaschiefofRelianceIndustriesLtd(RIL).HeelectedtodothisevenasRIL'stotalremunerationpackagestoitstopmanagementpersonnelincreasedduringthatfiscalyear.MukeshAmbaniholdsa50.4%stakeinthecompany.[74]Thismovekepthissalarycappedat₹150millionforthefourthyearinarow.[75] Inearly2019,acourtinMumbaiheldhisyoungerbrother,AnilAmbani,incriminalcontemptfornon-paymentofpersonallyguaranteeddebtRelianceCommunicationsowedtoSwedishgearmakerEricsson.Insteadofjailtime,thecourtgaveAnilamonthtocomeupwiththefunds.Attheendofthemonth,Mukeshbailedouthisyoungerbrother,payingthedebt.[33] Seealso MakeinIndia EnergyinIndia RelianceIndustries RelianceJio References ^Nolan,Jeannette."MukeshAmbani".EncyclopædiaBritannica.Retrieved6October2013. ^"TheRediffBusinessInterview/MukeshAmbani".Rediff.com.17June1998.Retrieved22August2013. ^abNaazneenKarmali(6April2016)."MeetNitaAmbani,TheFirstLadyofIndianBusiness".Forbes. ^ab"MukeshAmbani ::RIL ::RelianceGroupofIndustries".RelianceIndustriesLimited.Archivedfromtheoriginalon16April2015.Retrieved22August2013. ^"MukeshAmbani".Forbes.Retrieved12October2021. ^Majumdar,Shyamal(14January2015)."HowDhirubhaiAmbanichangedthestyleofdoingbusinessinIndia".Rediff.com.Retrieved10August2021. 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Externallinks Wikiquotehasquotationsrelatedto:MukeshAmbani WikimediaCommonshasmediarelatedtoMukeshAmbani. ProfileatRelianceIndustries ProfileatForbes WorksbyoraboutMukeshAmbaniinlibraries(WorldCatcatalog) vteRelianceIndustriesEnergy ReliancePetroleum JamnagarRefinery RelianceIndustrialInfrastructure RelianceSolar RenewableEnergyCorporation AuroraAlgaeInc RelianceEaglefordShale RelianceMarcellusShale RelianceGas RelianceAviationFuels Petrochemicals RelianceSibur Relstar Relpet PVC HTPB Polypropylene JioPlatformsConsumer Haptik Jio JioTV JioMart JioCinema JioSaavn JioChat JioMeet JioSwitch JioPages JioNews JioGate JioCloud JioSecurity JioMotive JioAds JioHealthHub JioPOS JioGames AffinityNamesInc. Enterprise Radisys JioMeetforBusiness JioAttendance JioOnline JioGST RelianceRetailElectronics LYF JioPhone E-Commerce AJIO JioMart UrbanLadder Fynd Other Hamleys RelianceDigital RelianceFootPrint RelianceFresh RelianceJewels RelianceMarket RelianceSmart RelianceTrends Textiles GenesisColors AlokIndustries R-Elan OnlyVimal DNMX RecronPolyester Media Network18Group DENNetworks Hathway NEWJ ForbesIndia Bookmyshow Realty ModelEconomicTownship TheIndianFilmCombine JioWorldCenter MobilitySolutions SkyTran AsteriaAerospace RelianceBPMobility Netradyne FormerHoldings EastWestGasPipeline(India) TowerInfrastructureTrust(RelianceJioInfratel) GAPCO(GulfAfricaPetroleumCorporation) VLECs(EthaneCrystal,EthaneEmerald,EthaneOpal,EthanePearl,EthaneSapphire,EthaneTopaz) Education Embibe Extramarks(38%) DhirubhaiAmbaniInternationalSchool Sports MumbaiIndians IMGReliance LifeSciences Relicord RelianceInstituteofLifeSciences HurkisondasHospital Covid-19HospitalinMumbai Others JioPaymentsBank RelianceLogistics RelianceFoundation DigitalFibreInfrastructureTrust PeopleCurrent MukeshAmbani AkashAmbani IshaAmbani AnantAmbani AlokAgarwal NikhilR.Meswani SSudhakar HitalR.Meswani PMSPrasad SrikanthVenkatachari PawanKumarKapil HemenModi ManojModi Y.P.Trivedi DipakC.Jain RaghunathA.Mashelkar AdilZainulbhai NitaAmbani RaminderSinghGujral ShumeetBanerji ArundhatiBhattacharya K.V.Chowdary KSethuraman SavithriParekh ParimalNathwani MahendraNahata AnandJain Former DhirubhaiAmbani AshishChauhan UrjitPatel VivekLall seealso:Template:RelianceAnilDhirubhaiAmbaniGroup AuthoritycontrolGeneral IntegratedAuthorityFile(Germany) VIAF 1 WorldCat Nationallibraries UnitedStates Other FacetedApplicationofSubjectTerminology Retrievedfrom"https://en.wikipedia.org/w/index.php?title=Mukesh_Ambani&oldid=1059218059" Categories:1957birthsLivingpeopleAmbanifamilyIndianbillionairesBusinesspeoplefromMumbaiIndianHindusRelianceIndustriespeopleIndianPremierLeaguefranchiseownersStanfordGraduateSchoolofBusinessalumniUniversityofMumbaialumniInstituteofChemicalTechnologyalumniGujaratipeopleIndianindustrialistsIndianbusinesspeopleintheoilindustryForeignassociatesoftheNationalAcademyofEngineeringHillGrangeHighSchoolalumniHiddencategories:AllarticleswithdeadexternallinksArticleswithdeadexternallinksfromAugust2021ArticleswithdeadexternallinksfromFebruary2021ArticleswithpermanentlydeadexternallinksCS1maint:unfitURLArticleswithshortdescriptionShortdescriptionisdifferentfromWikidataWikipediatemporarilysemi-protectedbiographiesoflivingpeopleUseIndianEnglishfromJanuary2015AllWikipediaarticleswritteninIndianEnglishUsedmydatesfromMarch2021ArticleswithhCardsCommonscategorylinkfromWikidataArticleswithGNDidentifiersArticleswithVIAFidentifiersArticleswithWORLDCATIDidentifiersArticleswithLCCNidentifiersArticleswithFASTidentifiers Navigationmenu Personaltools NotloggedinTalkContributionsCreateaccountLogin Namespaces ArticleTalk Variants expanded collapsed Views ReadViewsourceViewhistory More expanded collapsed Search Navigation MainpageContentsCurrenteventsRandomarticleAboutWikipediaContactusDonate Contribute HelpLearntoeditCommunityportalRecentchangesUploadfile Tools WhatlinkshereRelatedchangesUploadfileSpecialpagesPermanentlinkPageinformationCitethispageWikidataitem Print/export DownloadasPDFPrintableversion Inotherprojects WikimediaCommonsWikiquote Languages العربيةঅসমীয়াAsturianuAzərbaycancaবাংলাभोजपुरीБългарскиCatalàČeštinaDanskDeutschडोटेलीEspañolEsperantoفارسیFrançaisGalegoગુજરાતી한국어Հայերենहिन्दीBahasaIndonesiaItalianoעבריתಕನ್ನಡमैथिलीMalagasyമലയാളംमराठीمصرىBahasaMelayuမြန်မာဘာသာNederlandsनेपाली日本語ଓଡ଼ିଆOʻzbekcha/ўзбекчаਪੰਜਾਬੀپنجابیPolskiPortuguêsRomânăРусскийᱥᱟᱱᱛᱟᱲᱤSimpleEnglishسنڌيСрпски/srpskiSuomiSvenskaதமிழ்తెలుగుไทยTürkçeУкраїнськаاردوTiếngViệtWinaray吴语中文 Editlinks