Mukesh Ambani

Mukesh Ambani
मुकेश अंबानी

Man at the helm of Reliance
Born 19 April 1957 (1957-04-19) (age 54)
Aden, Colony of Aden (now Yemen)[1]
Residence Mumbai, Maharashtra, India
Nationality Indian
Alma mater University of Bombay
Stanford University (Dropped out in the year 1980)
Occupation Chairman & MD of Reliance Industries
Director of Bank of America
Net worth decreaseUS$27 billion (2011)[2]
Religion Hinduism
Spouse Nita Ambani
Children Akash, Anant, Isha[3]
Parents Dhirubhai Ambani
Kokilaben Ambani
Relatives Anil Ambani (Brother)
Website
Mukesh Ambani

Mukesh Dhirubhai Ambani (born on 19 April 1957) is an Indian business magnate. He is the chairman and managing director of Indian conglomerate Reliance Industries,[4] the largest private sector enterprise in India listed in Fortune 500 magazine.[5] His personal stake in Reliance Industries is 48%.[6] On the 29th of August' 2011, Reliance Industries regained its status as the most valued firm in India, after a heady contest with ONGC and Coal India Ltd., both public sector units as well as energy giants.[7]

In 2010, he was named among the most powerful people in the world by Forbes in its list of "68 people who matter most"[8] As of 2011, he is the second richest man in Asia[9] 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 world’s richest man.[10][11][12]

He is a member of the board of directors of Bank of America Corporation and a present member of the international advisory board of the Council on Foreign Relations.[13][14][15]

Contents

Early life and education

Mukesh Ambani is the eldest son of Dhirubhai Ambani, the late founder of Reliance Industries.[16] He has a brother, Anil, and two sisters - Dipti Salgaoncar & Neena Kothari.[17]

The Ambani family lived in a two bedroom apartment in Bhuleshwar, Mumbai until the 1970s.[18] 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.[19]

Mukesh Ambani was educated at Abaay Morischa School in Mumbai and completed his graduation with a bachelor`s degree in chemical engineering from the UDCT, now Institute of Chemical Technology, Mumbai.He stood sixth in the University exams.[20] Mukesh later enrolled for an MBA from Stanford University but completed only one year of the two year program and dropped out in the year 1980.[21] Indira Gandhi administration threw open the doors of PFY (Polyester Filament Yarn) manufacturing to the private sector in early 1980. Dhirubhai Ambani had applied for a licence to setup PFY manufacturing plant. In spite of stiff competition from Tatas, Birlas and 43 others, Dhirubhai was awarded the licence.[22] To help him build the PFY plant, Dhirubhai pulled his eldest son Mukesh out of Stanford where he was studying for his MBA. Mukesh Ambani, then dropped out to help his father and initiated Reliance`s backward integration from textiles into polyester fibres and further into petrochemicals, beginning in 1981.[23]

Career

He joined Reliance Industries in 1981.[24] He initiated Reliance's 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.[25]

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).[26]

Ambani directed and led the creation of the world’s 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.[27]

Board Memberships

  • Chairman, Managing Director, Chairman of Finance Committee and Member of Employees Stock Compensation Committee, Reliance Industries Limited
  • Former Chairman, Indian Petrochemicals Corporation Limited
  • Former Vice Chairman, Reliance Petroleum
  • Chairman of the Board, Reliance Petroleum
  • Chairman and Chairman of Audit Committee, Reliance Retail Limited.
  • Chairman, Reliance Exploration and Production DMCC
  • Director, Member of Credit Committee and Member of Compensation & Benefits Committee, Bank of America Corporation[28]


Awards and honours

Year of Award or Honor Name of Award or Honor Awarding Organization
2010 Global Vision Award at The Awards Dinner[29] Asia Society
2010 Business Leader of the Year[30] NDTV India
2010 Businessman of the Year[31] Financial Chronicle
2010 Juran Quality Medal for 2009[32] Indian Merchant's Chamber (IMC)
2010 School of Engineering and Applied Science Dean's Medal University of Pennsylvania.
2007 United States-India Business Council Leadership Award United States-India Business Council.
2007 Chitralekha Person of the Year Award Government of Gujarat.
2004 World Communication Award Total Telecom.
  • Ranked 5th best performing CEO in the world by Harvard Business Review in its ranking of top 50 global CEOs.[33]
  • Only Indian to be a part of the United Nations MDG Advocacy Group[34]
  • Re-elected as Vice Chairman of the Business Council for Sustainable Development's (WBCSD) Executive Committee for a second consecutive term in 2010.[35]

Personal life

He is married to Nita Ambani and has three children.[36] They live in a private 27-story building in Mumbai named Antilia.[37] The construction cost was estimated to be approximately US$77 million and it is claimed to be the most expensive home in history.[38]

He owns the Indian Premier League team the Mumbai Indians.

References

  1. ^ "The Rediff Business Interview/ Mukesh Ambani". Rediff. 17 June 1998. http://www.rediff.com/business/1998/jun/17nandy.htm. Retrieved 15 July 2010. 
  2. ^ Mukesh Ambani topic page. Forbes.com. Retrieved September 2010.
  3. ^ "NY Times pics on Mukesh Ambani". The New York Times (India). 15 June 2008. http://www.nytimes.com/slideshow/2008/06/15/business/0615-AMBANI_7.html. Retrieved 9 February 2010. 
  4. ^ "Mukesh Ambani :: RIL :: Reliance Group of Industries". RIL. http://www.ril.com/html/aboutus/mukesh_ambani.html. Retrieved 9 February 2010. 
  5. ^ "FORTUNE Global 500 2006: Countries". CNN. 24 July 2006. http://money.cnn.com/magazines/fortune/global500/2006/countries/I.html. Retrieved 9 February 2010. 
  6. ^ "The World's Billionaires". Forbes. 8 March 2007. http://www.forbes.com/lists/2007/10/07billionaires_Mukesh-Ambani_NY3A.html. Retrieved 9 March 2007. "Year 2007." 
  7. ^ "Market Capitalization". Indian stock markets:Companies by Market Capitalization. Rediff.com India Limited. http://money.rediff.com/companies/market-capitalisation. 
  8. ^ "Sonia Gandhi, Tata in Forbes' most powerful people list". The Hindu (Chennai, India). 4 November 2010. http://www.thehindu.com/news/national/article868374.ece. 
  9. ^ "Forbes topic page on Mukesh Ambani". Forbes. http://billionaires.forbes.com/topic/Mukesh_Ambani. Retrieved 5 April 2010. 
  10. ^ "Mukesh Ambani Becomes World’s Richest Man". Economic Times. http://economictimes.indiatimes.com/Corporate_Trends/Mukesh_Ambani_worlds_richest_now/articleshow/2500036.cms. Retrieved 5 April 2010. 
  11. ^ "World's richest is Mukesh Ambani: Billion-dollar decisions from a billion-dollar home". http://www.bloggingstocks.com/2007/10/29/mukesh-ambani-billion-dollar-decisions-from-a-billion-dollar-ho/. Retrieved 5 April 2010. 
  12. ^ "Mukesh Ambani Becomes World’s Richest Man". http://www.stockmarketsview.com/mukesh-ambani-becomes-worlds-richest-man/22/. Retrieved 5 April 2010. 
  13. ^ http://www.cfr.org/content/about/annual_report/ar_2008/Intl_Advisory_Board2008.pdf
  14. ^ "Leadership and Staff – Council on Foreign Relations". Cfr.org. 5 December 2009. http://www.cfr.org/about/people/international_advisory_board.html. Retrieved 31 August 2010. 
  15. ^ [1][dead link]
  16. ^ "Mukesh Ambani | Reliance Industries | Dhirubhai Ambani | Worlds Richest Men – Oneindia Living". Living.oneindia.in. http://living.oneindia.in/celebrity/other-celebrities/mukesh-ambani-reliance-industries.html. Retrieved 28 October 2010. 
  17. ^ "Ambani sisters in Mumbai for family meeting". The Times of India - India Business. Bennett, Coleman & Co. Ltd. http://articles.timesofindia.indiatimes.com/2004-11-22/india-business/27154492_1_ownership-issues-mukesh-ambani-ambani-brothers. Retrieved 17 October 2011. 
  18. ^ "Reliance didn't grow on permit raj: Anil Ambani". rediff.com. 11 May 2002. http://www.rediff.com/money/2002/may/11ambani.htm. Retrieved 28 October 2010. 
  19. ^ Yardley, Jim (28 October 2010). "Soaring Above India's Poverty, a 27-Story Home". The New York Times. http://www.nytimes.com/2010/10/29/world/asia/29mumbai.html?ref=global&pagewanted=all. 
  20. ^ "Mukesh Ambani on his childhood, youth". Mukesh Ambani on his childhood, youth - Rediff.com Business. Rediff.com. http://www.rediff.com/money/2007/jan/17inter.htm. Retrieved 5 October 2011. 
  21. ^ "'Always invest in businesses of the future and in talent'". Rediff Business - Interview with Mukesh Ambani, 2007. Rediff.com. http://www.rediff.com/money/2007/jan/17inter.htm. Retrieved 17 October 2011. 
  22. ^ "Reliance Industries - Company Profile". Reliance Industries Ltd. - Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd. Read more: Reliance Industries Ltd. - Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd.- Reference for Business. Advameg Inc.. http://www.referenceforbusiness.com/history2/78/Reliance-Industries-Ltd.html. Retrieved 17 October 2011. 
  23. ^ "Mukesh Ambani to pen RIL’s polyester-to-petrochem story". Ways2Trade Blog. Blogspot.com. http://ways2trade.blogspot.com/2010/09/mukesh-ambani-to-pen-rils-polyester-to.html. Retrieved 17 October 2011. 
  24. ^ "Mukesh Ambani :: RIL :: Reliance Group of Industries". RIL. http://www.ril.com/html/aboutus/mukesh_ambani.html. Retrieved 29 March 2010. 
  25. ^ "Remarks by Mukesh D. Ambani Chairman and Managing Director, Reliance Industries Ltd., India". Global Business and Global Poverty Conference Stanford Graduate School of Business. Stanford Graduate School of Business. http://www.gsb.stanford.edu/news/headlines/2004globalconf_ambani_speech.shtml. Retrieved 17 October 2011. 
  26. ^ "Reliance Infocomm Ushers a Digital Revolution In India". Press Release by Reliance Infocomm. Reliance Communications. http://www.rcom.co.in/rcom/StoreLocator/press_release_detail.jsp?id=72. Retrieved 17 October 2011. 
  27. ^ "Mukesh Ambani :: Reliance Group :: Reliance Petroleum Limited :: Reliance Industries". RIL. http://www.reliancepetroleum.com/html/mda.html. Retrieved 18 February 2010. 
  28. ^ "Mukesh Ambani - Executive Profile & Biography". Mukesh Ambani - Executive Profile & Biography - Bloomberg Businessweek. Bloomberg. http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=7388031&ticker=RELI:IJ. 
  29. ^ Mulgund, Shreyas. "Asia Society Awards Dinner Honors Mukesh Ambani, Jeffrey Immelt, and NY Philharmonic". Press Release on Asia Society. Asia Society. http://asiasociety.org/media/press-releases/asia-society-awards-dinner-honors-mukesh-ambani-jeffrey-immelt-and-ny-philharmo. Retrieved 21 September 2011. 
  30. ^ Mulgund, Shreyas. "Winners of the NDTV Business Leadership Awards". Winners of the NDTV Business Leadership Awards. NDTV Convergence Limited. http://www.ndtv.com/convergence/ndtv/bla10/winners.aspx. Retrieved 21 September 2011. 
  31. ^ Mulgund, Shreyas (30th December'2010). "FC Businessman of the Year: Mukesh Ambani". Financial Chronicle. http://www.mydigitalfc.com/companies/fc-businessman-year-mukesh-ambani-459. Retrieved 21-September' 2011. 
  32. ^ "IMC Juran Quality Medal 2009". List of Winners of IMC Juran Quality Medal. IMC. http://www.imcrbnqa.com/IMC_Juran/About_JM/PastWinners.aspx. Retrieved 21 September 2011. 
  33. ^ Mulgund, Shreyas. "The 100 Best-Performing CEOs in the World". Harvard Business Review. Harvard Business Publishing. http://hbr.org/web/extras/100ceos/5-ambani. Retrieved 21 September 2011. 
  34. ^ Mulgund, Shreyas. "The MDG Advocacy Group". Millennium Development Goals. UN Department of Public Information. http://www.un.org/millenniumgoals/pdf/The%20MDG%20Advocacy%20Group%20-%20List%20of%20Members.pdf. Retrieved 21 September 2011. 
  35. ^ Mulgund, Shreyas. "Membership & governance-WBSCD". Membership & governance-WBSCD. World Business Council for Sustainable Development (WBCSD). http://www.wbcsd.org/templates/TemplateWBCSD4/layout.asp?type=p&MenuId=MzM5. Retrieved 21 September 2011. 
  36. ^ "Nita Sikbani". Da-is.org. http://www.da-is.org/html/nita_ambani.html. Retrieved 9 February 2010. 
  37. ^ Kwek, Glenda (15 October 2010). "India's richest man builds first $1-billion home, Antilia,". The Age (Melbourne). http://www.theage.com.au/executive-style/luxury/indias-richest-man-builds-worlds-first-billiondollar-home-20101015-16mrg.html. Retrieved 28 October 2010. 
  38. ^ Mark Mangier (24 October 2010). "Mumbai billionaire's home boasts 27 floors, ocean and slum views". The Los Angeles Times. http://articles.latimes.com/2010/oct/24/world/la-fg-india-rich-20101025. 

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