One of four children of a renowned Indian industrialist, Mukesh Dhirubhai Ambani is the richest businessman in India and the chairman and managing director of Reliance Industries Limited (RIL). Ambani has been on the board of Reliance Industries Limited since 1977. Reliance Industries Limited is India’s largest private-sector corporation with businesses in petrochemicals, energy, textiles, retail, and telecommunications. He is one of the richest people in India and the world, and he has been consistently ranked among the top 10 richest people in the world by Forbes magazine and also often tops the Indian billionaire wealth rankings.
Mukesh Ambani’s net worth in 2024 stands at around $80.7 billion.
Here is a detailed Mukesh Ambani wealth analysis-
- The majority of Ambani’s wealth derives from a 42% stake in publicly traded Reliance Industries. The Mumbai-based company has the largest oil refining complex in the world, according to its website. Reliance Industries financial growth also inspires the growth of the Indian economy.
- Ambani’s Jio Infocomm Limited, was soft launched on 27 December 2015 with a beta for partners and employees and became publicly available on 5 September 2016. It is the largest mobile network operator in India and the third largest mobile network operator in the world with over 46.72 subscribers.
- During the Covid-19 lockdown, Ambani raised more than $20 billion selling a third of Jio to a string of investors, such as Facebook and Google.
- A promoter group holds the shares which includes holding companies, trusts and family members according to July 2024 filing to the Bombay Stock Exchange. They’re all credited in his analysis to Ambani to reflect his status as founder, chairman and managing director. A stake held by his mother is excluded.
- Jio Financials Services was spun-out of Reliance Industries on July 20,2023 on 1:1 distribution to shareholders. He owns about 43% of the company directly and through a promoter group, according to a July 2024 filing.
- Reliance Industries bought the Mandarin Oriental hotel in New York for $98 million in 2022. Reliance Industries Limited made several acquisitions in the past three years to boost the product offerings of its subsidiaries and add to Mukesh Ambani’s expensive assets.
- The billionaire’s Mumbai mansion, Antillia, was valued at more than $400 million in a 2014 analysis by property surveyors. Media reports say that Ambani has spent more than $1 billion on the 27-storey property. The valuation used here reflects the lower amount because of uncertainty around funding costs and re-sale value.
- He has collected more than $3 billion in dividends, according to Bloomberg data. The value of his cash investments is based on an analysis of those proceeds, share transactions as well as taxes, market performance and family investments.
- Under his guidance, Reliance Industries Limited achieved a historic milestone in February 2024, becoming the first Indian company to achieve a market capitalization of Rs. 20 lakh crores. The milestone added to Reliance Industries financial growth.
- Mukesh Ambani allocated approximately Rs.830 crores for the wedding of his daughter, Isha Ambani, to Anand Piramal. The wedding guestlist included names like Hillary Clinton. He also spared no expenses for the wedding of his eldest son, Akash Ambani to Shloka Mehta.
- For his youngest son, Anant Ambani’s marriage to Radhika Merchant, Mukesh Ambani is said to have allocated Rs.1260 crore for the pre-wedding celebrations. The celebrations had performances by global stars like Rihanna, Akon, Justin Bieber, Katy Perry, Backstreet Boys and Diljit Dosanjh. The event attracted elite attendees including, Bill Gates and Mark Zuckerberg. According to estimates from LiveMint, The Economic Times and Outlook Business, the wedding festivities have cost around Rs.5000 crores, making it one of the most expensive weddings ever.
- Mukesh Ambani is officially the sole owner of the Mumbai Indian Franchise of the much popular cricket league also known as the Indian Premier League (IPL). The Indian Super League (ISL) is also backed by Mukesh Ambani. The Indian Super League, owned and run by Football Sports Development Limited (FDSL), whose chair is Mukesh Ambani’s wife Nita Ambani, has managed to become the top league in the Indian football system.
- The Ambani family also inaugurated the Nita Ambani Cultural Centre (NMMACC), located within the Jio Centre in Mumbai. The marvelous infrastructure includes a 2000 seating capacity grand theatre, a 4-storey art house, a Pavilion- a museum like convertible area of 52,627sq. ft for art shows and exhibitions, and a studio theatre.
Beyond business, Mukesh Ambani is also actively involved in philanthropy and social initiatives. The Reliance Foundation, led by his wife Nita Ambani, is involved in various charitable activities focused on children, education, healthcare, rural development and disaster relief. Reliance was the biggest donor during covid relief response. The Ambani family also donated Rs 2.52 crore and 33 kilograms of gold to the Ram Mandir Trust. He also donated an amount of Rs 5 crores to Kedarnath and Badrinath temples. Mukesh Ambani’s youngest son Anant Ambani had donated a whopping amount of Rs 2.51 crores each to Maa Kamakhya Temple in Assam and Jagannath Temple in Odisha. On the occasion of Ganesh Chaturthi, he donated 20 kg of gold crown worth Rs 15 crores to Mumbai’s Lalbaugcha Raja.
In recognition of his contributions to business and society, Mukesh Ambani has received numerous accolades and honors over the years. He has been featured in various lists of the world’s most influential business leaders and billionaires, cementing his status as a prominent figure in the global business community. Overall, Mukesh Ambani’s journey to become the richest businessman in India serves as an inspiration to entrepreneurs and aspiring leaders worldwide, showcasing the power of innovation, resilience and ethical leadership in driving sustainable growth and creating lasting impact.
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