Biography of Mukesh Ambani

Tags: Business Persons, Entrepreneurs, India, M, Richest People Mukesh Dhirubhai Ambani was born on 19 April 1957 in Aden, Colony of Aden (now Yemen), is an Indian business magnate is the current chairman and managing director of Reliance Industries, the largest private sector enterprise in India, a Fortune 500 company, and one of the largest private sector conglomerates in the world. His personal stake in Reliance Industries is 48%. Mukesh Ambani is the eldest son of Dhirubhai Ambani, the late founder of Reliance Industries. He has a brother, Anil, and two sisters. In 2010, he was named among the most powerful people in the world by Forbes in its list of 68 people who matter most As of 2011, he is the second richest man in Asia and the ninth richest man in the world with a personal wealth of US$27 billion. In 2007, a strong rally in the Indian stock market and the appreciation of the Indian rupee boosted the market capitalisation of Reliance group companies, briefly making him the worlds richest man. According to Forbes Magazine forecasts, he is expected to regain the title of the richest man in the world in 2014. He is a member of the board of director of Bank of America Corporation and a present member of the international advisory board of Council on Foreign Relations. The Ambani family lived in a two bedroom apartment in Bhuleshwar, Mumbai until the 1970s. Dhirubhai Ambani then purchased a 14-floor apartment block called Sea Wind in Colaba, where, until recently, Mukesh and Anil each lived with their families on different floors. Anil Ambani is also a billionaire and owns a competing company, Reliance Anil Dhirubhai Ambani Group. The two brothers have had clashes over business. He joined Reliance Industries in 1981. He initiated Reliances backward integration journey from textiles into polyester fibres and further into petrochemicals, petroleum refining and going up-stream into oil and gas exploration and production. Ambani set up one of the largest and most complex information and communications technology initiatives in the world in the form of Reliance Infocomm Limited (now Reliance Communications Limited). Ambani directed and led the creation of the worlds largest grassroots petroleum refinery at Jamnagar, India, with a current capacity of 660,000 barrels per day (33 million tonnes per year) integrated with petrochemicals, power generation, port and related infrastructure. He is married to Nita Ambani and has three children, Akash, Anant and Isha. He owns the Indian Premier League team, the Mumbai Indians. They live in a private 27 story building in Mumbai named Antilia. It is estimated to be valued at over US$1 Billion to build. It is claimed to be the most expensive home in history.