Mukesh Ambani Biography: Birth, Early Life, Education, Career, Awards, Memberships, Net Worth and More

As per reports, tech giant Google is likely to buy a stake in Reliance Industries digital arm Jio Platforms. This will attract a $4 billion investment from Google. Let us look at the early life, education and success story of the owner of Reliance Industries-- Mukesh Ambani.
Created On: Nov 11, 2020 14:01 IST
Modified On: Nov 11, 2020 14:01 IST
Mukesh Ambani Biography
Mukesh Ambani Biography

Tech giant Google is in advanced talks to buy a stake in Reliance Industries digital arm Jio Platforms as per reports. This will attract a $4 billion investment from Google. Mukesh Ambani is the chairman, MD and largest shareholder of Reliance Industries. He is not only the richest Indian but is also the richest man in Asia. Let us look at his early life, education and success story.

Birth April 19, 1957 (Aden, present-day Yemen)
Age 63 years
Occupation  Chairman and Managing Director (Reliance Industries)
Wife Nita Ambani
Children Anant Ambani (Son)
Akash Ambani (Son)
Isha Ambani (Daughter)
Net Worth US$72.2 billion as of 13 July 2020
Nationality Indian
Parents Dhirubhai Ambani (Father)
Kokilaben Ambani (Mother)
Siblings Anil Ambani (Brother)
Nina Bhadrashyam Kothari (Sister)
Dipti Dattaraj Salgaocar (Sister)

 

Facebook buys 9.9% stake in Reliance Jio for $5.7 billion

Mukesh Ambani: Birth, Early Life, and Family

Mukesh Ambani was born as Mukesh Dhirubhai Ambani on April 19, 1957, in Aden (present-day Yemen) to Dhirubhai Ambani and Kokilaben Ambani. He has a younger brother Anil Ambani and two sisters-- Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaocar.

Mukesh Ambani spent a year in Yemen and in 1958, Dhirubhai Ambani moved back to India to start spices and textiles trading business. 

Until the 1970s, Mukesh Ambani lived in a two-bedroom apartment in Mumbai's Bhuleshwar. After a few years, when the financial condition of the family improved, Mukesh Ambani's father bought a 14-floor apartment block called 'Sea Wind' in Colaba. 

Mukesh Ambani: Personal Life

In 1985, Mukesh Ambani married Nita Ambani. The couple has two sons-- Anant Ambani and Akash Ambani and a daughter-- Isha Ambani. Dhirubhai Ambani attended a dance performance where Nita participated and later arranged the marriage for the two of them. 

The family resides in a 27-storey private apartment-- Antilia, worth $1 bn USD. The building has 600 staff members for its maintenance and has three helipads, 160-car garage, private movie theatre, swimming pool and a fitness centre. 

Mukesh Ambani's favourite food is Idli Sambhar, his favourite restaurant is Mysore Cafe, Mumbai (he used to eat at this place during his college time).

Mukesh Ambani: Education

Mukesh Ambani completed his High School from  Hill Grange High School at Peddar Road, Mumbai along with his brother Anil Ambani. He got admitted in  St. Xavier's College, Mumbai to complete Senior Secondary Education. Mukesh Ambani holds a Bachelor's degree in Chemical Engineering from the Institute of Chemical Technology. He got admitted at Stanford University to pursue an MBA but drops out to help his father build Reliance. Ambani is highly influenced by his two teachers who taught him to think out of the box-- William F. Sharpe and Man Mohan Sharma. 

Mukesh Ambani: Career

In the year 1981, after returning to India, Mukesh Ambani helped his father to build Reliance Industries Limited. The family business by this time expanded to refining, petrochemicals, retail and telecommunications industries. Its subsidiary, Reliance Retail Ltd. is the largest retailer in India. Mukesh Ambani also owns the IPL team Mumbai Indians and is the owner of Indian Super League, a football league in India.

In the year 1980, India under Indira Gandhi leadership opened the doors of PFY (polyester filament yarn) manufacturing plant to the private sector. Dhirubhai Ambani applied for the license to set up a PFY plant and faced stiff competition with Tatas, Birlas and more. Despite the competition, Dhirubhai received the 'License Raj'. In 1980, he called back Mukesh Ambani to help him build his business. Rasikbhai Meswani was the then director of the company and Mukesh Ambani reported to him daily. 

The company was laid on the principle that everyone must contribute to the business and not the selected individuals. In 1985, Rasikbhai died and the next year in 1986, Mukesh Ambani's father suffered a stroke. It was at this time that all the responsibility was shifted to Mukesh Ambani being the eldest son of the family. At the age of 24 years, Ambani was given charge of the construction of Patalganga petrochemical plant. 

On July 6, 2002, Mukesh's father died suffering a second stroke. This elevated tensions between the brothers as Dhirubhai didn't leave any will for the distribution of the empire. Their mother, Kokilaben Ambani, solved the dispute by splitting the company into two. Mukesh Ambani received Reliance Industries Limited and Indian Petrochemicals Corporation Limited. 

Under Mukesh Ambani's guidance, the company built the world's largest grassroots petroleum refinery at Jamnagar, India and can produce  660,000 barrels per day in the year 2010. 

In December 2013, Mukesh Ambani announced a collaborative venture with Bharti Airtel to set up a digital infrastructure for the 4G network in India. On June 18, 2014, he announced an investment of Rs 1.8 trillion across businesses in the next three years and launched 4G broadband services on December 27, 2015, internally. 

In 2016, Jio launched its own 4G smartphone under the brand named 'LYF'. The smartphone was India's third-largest selling smartphone that year. In September that year, Jio 4G was launched commercially. 

Mukesh Ambani: Board memberships

1- He is the Member of Board of Governors Institute of Chemical Technology, Mumbai.

2- Mukesh Ambani is the Chairman, Managing Director, Chairman of Finance Committee and Member of Employees Stock Compensation Committee at the Reliance Industries Limited.

3- He is the former chairman of Indian Petrochemicals Corporation Limited.

4-  He is the former vice-chairman of Reliance Petroleum.

5- He is the Chairman of the board at Reliance Petroleum.

6- Ambani serves as the Chairman and Chairman of the Audit Committee of Reliance Retail Limited.

7- He also serves as the Chairman of Reliance Exploration and Production DMCC. 

8- He was the former Director, Member of Credit Committee and Member of Compensation & Benefits Committee at Bank of America Corporation.

9- He currently serves as the President of Pandit Deendayal Petroleum University, Gandhinagar, Gujarat. 

Mukesh Ambani: Awards

1- In the year 2000, he was awarded 'Ernst & Young Entrepreneur of the Year' by Ernst & Young India. 

2- In the year 2010, he was honoured with 'Global Vision Award at The Awards Dinner' by Asia Society. 

3- In the year 2010, he was awarded 'Business Leader of the Year' by NDTV India.

4- In the year 2010, he was honoured as the 'Businessman of the Year' by Financial Chronicle.  

5- In the year 2010, he was awarded 'School of Engineering and Applied Science Dean's Medal' by the University of Pennsylvania.

6- In the year 2010, he was ranked '5th-best performing global CEO' by Harvard Business Review.

7- In the year 2010, he received the 'Global Leadership Award' from the Business Council for International Understanding.

8- In the year 2010, he received 'Honorary Doctorate (Doctor of Science)' by M. S. University of Baroda.

9- In the year 2013, he received 'Millennium Business Leader of the Decade' at India Leadership Conclave & Indian Affairs Business Leadership Awards. 

10- In the year 2016, he was honoured as 'Foreign associate, U.S. National Academy of Engineering' by the National Academy of Engineering. 

11- In the year 2016, 'Othmer Gold Medal' from Chemical Heritage Foundation. 

Mukesh Ambani: Recognitions

Mukesh Ambani has been listed consistently as India's richest man over a decade by the Forbes Magazine. In addition to this, he is the only businessman of India on Forbe's list of the world's most powerful people. In January 2018, he was ranked 18 by the Forbe's in its list of the wealthiest person in the world. In 2018, he surpassed Jack Ma, becoming Asia's richest person with a net worth of $44.3 billion. Outside North America and Europe, Mukesh Ambani the wealthiest person in the world. In the year 2015, China's Hurun Research Institute ranked Mukesh Ambani as fifth among India's philanthropists. He also became the first non-American to be the Director of Bank of America. In 2012, Forbes listed him among the richest sports owners in the world.

On November 11, 2020, Mukesh Ambani ranked third in the seventh edition of EdelGive Hurun India Philanthropy List 2020 with a donation of ₹458 crores. 

EdelGive Hurun India Philanthropy List 2020

EdelGive Foundation and Hurun India have jointly released the seventh edition of EdelGive Hurun India Philanthropy List 2020 having 112 names.

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