“I’m a Mumbai boy… On its streets I learnt to stand up for myself, in its roadside stalls I learnt to bargain, in its commercial centres I learnt business, and in its cinemas I learnt to dream.”
– Mukesh Ambani
When Indians speak of billionaires, the first word we come across is ‘Ambani.’ The name that has been synonymous with royalty and trust across India for ages, ensured its legacy by producing another gem in the form of Mukesh Dhirubhai Ambani.
Boasting a net worth of over $80 billion, Mukesh Ambani is an Indian business magnate and the proprietor of the biggest private conglomerates, and the Fortune 500 Company in India in the name of Reliance Industries.
Born on April 19, 1957, in Aden, Yemen, Mukesh is the eldest son of the late Dhirubhai Ambani, who also happens to be a legendary Indian business tycoon and the founder of Reliance Industries. Mukesh completed his BE degree in Chemical Engineering from the Institute of Chemical Technology, Mumbai, and later enrolled for his MBA at the Stanford University.
But fate had other plans for Mukesh as he had to drop out of the university in 1981 to assist his father in developing a PFA (Polyester fiber yarn) production line. Mukesh then went on to establish the world’s largest petroleum refinery at Jamnagar, Gujarat, and further proceeded to set up an independent telecom arm named ‘Dependence Infocomm Limited’ presently known as Reliance Communication, which subsequently went on to become one of the largest telecom organizations in India.
The period that followed Dhirubhai Ambani’s abrupt death in 2002 made Mukesh the man he is today. Since Dhirubai didn’t leave a will, Mukesh and Anils’ relationship took a sore turn and soon became a massive public debacle. It was during this period that Dhirubhai’s massive empire was carved up with Mukesh receiving the oil and gas, refining, and petrochemical companies and Anil receiving the rising sun companies, which included the electricity, telecommunications, and financial service companies.
This split forced Mukesh to take some tough decisions and despite the odds Reliance once again rose to its former glory under his guidance.
The turning point in Mukesh’s success story came in 2007 when a sharp rise in the Indian stock market saw the Indian rupee getting stronger and thus raising the market capitalization of Reliance group companies, thereby making him the richest man on the planet.
Mukesh’s success reached newer heights when he launched Reliance Jio in 2016. Jio offered 4G internet at the cheapest price to the Indian public whilst their competitors were robbing the public with over-expensive products based on poor 2G service. Jio swiftly gained 1.5 billion clients in only 170 days and within 3 years the majority of India had access to 4G, all due to the drive and determination of one individual.
And as of today, despite being India’s richest man for many years, Mukesh carries himself humbly, and is eager to achieve even more. It was reported in August 2022 that Mukesh had shunned his salary for two years in a row. As India and the world were all hands together against the Covid-19 pandemic, Mukesh quietly did his part. He indeed lives up to his father’s advice of “Hope against hope and figure out how to exceed expectations” and inspires us to do as well.
