Mukesh Ambani

Verified Timeline

Lore & Background

Born in 1957 to Dhirubhai Ambani, the founder of Reliance Industries, and Kokilaben in Aden, Mukesh Ambani completed his studies at St. Xavier's College, Mumbai and Institute of Chemical Technology. He dropped out of Stanford University in 1980 to join Reliance Industries. He expanded the energy ventures of the company, and directed the set up of its largest petroleum refinery at Jamnagar. He took an increasing role in the company after his father developed health issues in the late 1980s. After the death of his father in 2002, the ownership of the companies in the group was divided between him and his younger brother Anil Ambani. Later, he expanded the portfolio of the group and launched or acquired several ventures in energy, finance, healthcare, media, telecommunications, and sports.

In Their Own Story

In 2008, Mukesh Ambani made history by purchasing the Mumbai Indians IPL franchise for $111.9 million, a move that immediately established him as "The World's Richest Sports Team Owner." This acquisition was not merely a financial transaction but a strategic entry into India's burgeoning sports market. The purchase coincided with his broader expansion into media and telecommunications, including the launch of 4G broadband services in 2015, demonstrating how his business interests often intersected with his sporting ventures. Ambani's ownership provided the Mumbai Indians with unparalleled resources, allowing them to build a squad capable of challenging for titles from the outset. The franchise quickly became a symbol of Reliance's ambition, mirroring the company's growth in other sectors like energy and retail.

Reader's Guide

Through Reliance, Ambani owns the Indian Premier League franchise Mumbai Indians. He is the founder of the Indian Super League, a football league in India. He married Nita Ambani in 1985 and they have two sons, Akash and Anant, and a daughter, Isha Ambani. They live in Antilia, a private 27-storey building in Mumbai.

Did You Know?

• Ambani dropped out of Stanford University in 1980 to help his father build Reliance.
• He directed the creation of the world's largest grassroots petroleum refinery in Jamnagar, India.
• As of 2016, Ambani was ranked as the 36th richest person in the world and has consistently held the title of India's richest person on Forbes magazine's list for the past ten years.
• He surpassed Jack Ma to become Asia's richest person with a net worth of $44.3 billion in July 2018.