Mukesh Ambani net worth
Mukesh Ambani (born 19 April 1957) is an Indian billionaire business magnate, and the chairman, managing director, and largest shareholder of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India’s most valuable company by market value. He is currently the richest man in Asia with a net worth of US$81.6 billion and as of 28 July 2020 he is listed on Forbes as the 5th richest person in the world.
Mukesh Ambani, the richest person in India and all of Asia, has more than doubled his wealth in the past 10 years.
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In 2010, he was worth an estimated $27 billion. Today, he’s worth US$81.6 billion.
Reliance Industries Chairman Mukesh Ambani’s net worth has been soaring as investments keep pouring in for Jio Platforms. Earlier this week on Thursday Ambani pipped Steve Ballmer to become the fifth-wealthiest person on the planet with a net worth of $77.4 billion (Rs 5.78 lakh crore). On Friday, his wealth rose a further $3.5 billion to $80.9 billion (Rs 6.04 lakh crore), bringing him closer to Mark Zuckerberg whose net worth according to Bloomberg Billionaires Index as of today (July 25) is $87.7 billion.
Ambani entering the elite club of world’s five richest people is just the latest milestone for the 63-year-old billionaire whose fortune has surged by $22.3 billion (Rs 1.66 lakh crore) since the beginning of the year. As per Bloomberg Billionaire Index data, the Reliance chairman has jumped nine places on the Index since January as shares of his oil to telecom giant have surged 145% from a low of Rs 867.82 in March after the company got Zukerberg on board.
The uptick movement in shares is buoyed by recent investments from firms including Facebook Inc., Silver Lake and BP Plc. Note that Ambani has added $15.5 billion (Rs 1.15 lakh crore) to his fortune in just July amid a record-breaking rally in the shares of Reliance Industries on back of investor euphoria owing over Jio.
Mukesh Ambani and his family live in a 27-story skyscraper in Mumbai that cost an estimated $1 billion to build.
Mukesh Ambani house
Ambani and his family live in a 27-story skyscraper in Mumbai that cost an estimated $1 billion to build, which would make it one of the most expensive homes anywhere in the world.
Mukesh Ambani lived only briefly in Yemen because his father decided to move back to India in 1958 to start a trading business that focused on spices and textiles. The latter was originally named “Vimal” but later changed to “Only Vimal. His family lived in a modest two-bedroom apartment in Bhuleshwar, Mumbai until the 1970s.
The family’s financial status slightly improved when they moved to India but Ambani still lived in a communal society, used public transportation, and never received an allowance. Dhirubhai later purchased a 14-floor apartment block called ‘Sea Wind’ in Colaba, where, until recently, Ambani and his brother lived with their families on different floors
Mukesh Ambani attended the Hill Grange High School at Peddar Road, Mumbai, along with his brother and Anand Jain, who later became his close associate After his secondary schooling, he studied at the St. Xavier’s College, Mumbai. He then received a BE degree in Chemical Engineering from the Institute of Chemical Technology.
Mukesh Ambani later enrolled for an MBA at Stanford University but withdrew in 1980 to help his father build Reliance, which at the time was still a small but fast-growing enterprise. His father felt that real-life skills were harnessed through experiences and not by sitting in a classroom, so he called his son back to India from Stanford to take command of a yarn manufacturing project in his company.
- Former vice-chairman, Reliance Petroleum
- Chairman of the board, Reliance Petroleum
- Chairman and Chairman of Audit Committee, Reliance Retail Limited
- 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
- 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
Plans that changed him
Mukesh Ambani has changed the game by entering the world’s top 5 richest list as for decades, the world’s five richest people comprised a little-changed group dominated by Americans, one or two Europeans and, occasionally, a Mexican. It seems like forever since people have been seeing the names of Bill Gates, Mark Zuckerberg, Warren Buffett in the world’s richest list. Jeff Bezos dethroning Bill Gates as the world’s richest was certainly a game-changer. However, Bezos is also an American meaning the top spots still have little to no diversity.
That changed this week when Ambani entered the top 5 club pipping former Microsoft boss Steve Ballmer. Three of the top 5 richest people on the planet are from the US. One is from France and now there is an Indian in there as well. In fact, out of the top 10 richest persons on the Bloomberg Index, eight are Americans. Ambani is not only the richest Indian but he is also the richest Asian in the list.
It is worth noting that the RIL chairman cracked the group of the 10 richest people just last month when he surpassed Warren Buffett, now ranked No. 6. He then overtook Elon Musk and Google co-founders Sergey Brin and Larry Page days later to become the sixth richest person and finally on Thursday, he surpassed Ballmer to become the world’s fifth-richest person in the world.