SchoolChalao

  • Helpline: +91-8058868746
  • Mail us: help@schoolchalao.com
  • LOGIN | REGISTER
    Tutorial Library

Learning Point

Mukesh Ambani

Previous Next

Mukesh Dhirubhai Ambani is the richest person in India. He is MD and chairman of Reliance Industries, the largest Indian private sector enterprise. He is the largest shareholder of Reliance Industries Limited (RIL), a Fortune Global 500 company and India's second-most valuable company by market value.

He is the elder son of late Dhirubhai Ambani and Kokilaben Ambani. He has a brother Anil Ambani and two sisters. Dhirubhai Ambani was an Indian business tycoon. He founded Reliance Industries in Bombay with his cousin. The combined fortune of the family was $60 billion, making the Ambanis the third richest family in the world in 2007. Dhirubhai Ambani died on 6 July 2002. Mukesh Ambani is India's richest man and second-richest man in Asia in 2013.

He got married on March 8, 1985 with Nita Ambani. Nita Ambani belongs to a middle class family. Now they have two sons and a daughter. Nita Ambani is the chairperson and founder of Reliance Foundation and a non-executive director of Reliance Industries. She is the most powerful business woman in India.

Mukesh Ambani attended the Hill Grange High School at Peddar Road in Mumbai where he was a classmate of Anand Jain, who is his close associate now. His brother also attended the same school as him. After school he got a BE Degree in Chemical Engineering from Institute of Chemical technology at Matunga. He also started his MBA in Stanford University but he had to discontinue his studies to assist his father in the family start-up company, Reliance, which was growing fast at the time.

                                                               schoolo-chalao-mukeshambaniwith his wife image1\

In 1980 Dhirubhai Ambani applied for a license to set up a PFY manufacturing plant. Dhirubhai was awarded the licence. 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. Mukesh Ambani set up Reliance Infocomm Limited (now Reliance Communications Limited), which was focused on information and communications technology initiatives. 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.

In February 2016, Mukesh Ambani-led Jio launched its own 4G smartphone brand named LYF. In June 2016, it was India's third-largest-selling mobile phone brand.

Very Useful (0)

Useful (0)

Not Useful (0)