Reliance Group has six listed companies. "[34][29], During the fiscal year ending 31 March 2012, he reportedly decided to forgo nearly ₹240 million from his annual pay as chief of Reliance Industries Ltd (RIL). ALSO READ: Reliance Industries share rises 3% after Jio adds maximum subscribers in October. Reliance Logistics It is a single-window company selling transportation, distribution, warehousing, logistics, and supply chain-related products. The business also included products and services in retail and telecommunications industries. [34] Their mother intervened to stop the feud, splitting the company into two, Ambani receiving control of Reliance Industries Limited and Indian Petrochemicals Corporation Limited, which was later approved by the Bombay High Court in December 2005. In 1981 he started to help his father Dhirubhai Ambani run their family business, Reliance Industries Limited. [44], In February 2014, a First Information Report (FIR) alleging criminal offenses was filed against Mukesh Ambani for alleged irregularities in the pricing of natural gas from the KG basin. [38] On 18 June 2014, Mukesh Ambani, while addressing the 40th AGM of Reliance Industries, said he will invest Rs 1.8 trillion (short scale) across businesses in the next three years and launch 4G broadband services in 2015. The Bloomberg list shows Ambani's wealth at $76.5 billion (over Rs 5.63 lakh crore), down from $90 billion (around Rs 6.62 crore) earlier this year. [47][48] Kejriwal has alleged that the Centre allowed the price of gas to be inflated to eight dollars a unit though Mukesh Ambani's company spends only one dollar to produce a unit, which meant a loss of Rs. The Jeff Bezos-led retail giant claimed that its 2019 investment in Future Coupons had clauses that the Kishore Biyani-led group cannot sell its retail assets to anyone on a retail assets list, which included Reliance Industries. He is also the wealthiest person in the world outside North America and Europe. Mukesh Ambani net worth, education, asset value and more on The Economic Times. It is an asset-based company with its infrastructure and fleet. Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian billionaire businessman, 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. Ambani did not return to his university program, leading Reliance's backward integration, where companies own their suppliers to generate more revenue and improve efficiency, in 1981 from textiles into polyester fibers and further into petrochemicals, which the yarns were made from. Younger brother Anil Ambani received telecom, power, entertainment, and financial services business of the group. [75] This move kept his salary capped at ₹150 million for the fourth year in a row. [26][67] The building requires a staff of 600 for maintenance, and it includes three helipads, a 160-car garage, private movie theater, swimming pool, and fitness center. It is one of the leading integrated freight forwarding company offering multiple choice to the global freight and shipping industry. According to annual Motilal Oswal wealth creation analysis, Reliance has created Rs 6.3 lakh crore investor wealth between 1995 and 2020. Reliance later entered into Telecom Sector, Retail Sector, financial services, petrol refining, hydropower sector. He has a younger brother Anil Ambani and two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaocar. [14][15], 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. The company was being built from scratch with the principle of everybody contributing to the business and not heavily depend on selected individuals. Present Status After stroke in 1986, Ambani handed over control of Reliance to his sons Mukesh and Anil. [5] He is the second richest person in Asia with a net worth of US$74 billion in January 2021, and as of 28 December 2020, the 14th richest in the world.[3][6]. He elected to do this even as RIL's total remuneration packages to its top management personnel increased during that fiscal year. Ambani, still the richest man in Asia, has now dropped down to eleventh position in the Bloomberg Billionaires Index, after reaching the fourth spot earlier this year. Reliance Industrial Infrastructure – This firm focuses on developing and operating industrial infrastructure. [24] In 2012, Forbes named him one of the richest sports owners in the world. ALSO READ: RIL to acquire 50% stake in its sports arm IMG-R, rebrand as Reliance. Reliance Retail Ltd., another subsidiary, is also the largest retailer in India. Reliance Industries Limited is a Fortune Global 500 company and is the largest private sector company in India. [39] In February 2016, Ambani-led Jio launched its own 4G smartphone brand named LYF. [6] He surpassed Jack Ma, executive chairman of Alibaba Group, to become Asia's richest person with a net worth of $44.3 billion in July 2018. Reliance Industry is started by formation of Reliance Commercial Corporation. [68], In 2007, Ambani gifted his wife a $60 million Airbus A319 for her 44th birthday. [35], Indian Petrochemicals Corporation Limited, Business Council for International Understanding, "The Rediff Business Interview/ Mukesh Ambani", "Meet Nita Ambani, The First Lady of Indian Business", "Mukesh Ambani :: RIL :: Reliance Group of Industries", "How Dhirubhai Ambani changed the style of doing business in India", "Reliance didn't grow on permit raj: Anil Ambani", "Meet Mukesh Ambani: India's Richest Man", "Soaring Above India's Poverty, a 27-Story Home", Anand Jain: A bone of contention between the Ambani brothers, "Always invest in businesses of future and in talent", "Bill Gates richest man in world, Mukesh Ambani at 36th: Forbes", "Billionaire Mukesh Ambani topples Jack Ma as Asia's richest person", "India's biggest philanthropist is seven times more generous than the next", "Mukesh Ambani appointed Bank of America as director", "Ambani Backs New Soccer League For India", "Mumbai billionaire's home boasts 27 floors, ocean and slum views", "India Before 1991: Stories of Life Under the License Raj", "Reliance Infocomm Ushers a Digital Revolution in India", "An insight into Mukesh Ambani's empire and how he became Asia's richest man", "Mukesh Ambani Won the World's Most Expensive Sibling Rivalry", "The Full Story of the Massive Feud Between The Billionaire Ambani Brothers", "Mukesh Ambani :: Reliance Group :: Reliance Petroleum Limited :: Reliance Industries", "Mukesh Ambani hints at venture between Reliance Industries and Bharti Airtel", "Reliance 4G services to be launched in 2015: Mukesh Ambani", "Mukesh Ambani's Reliance Jio Infocomm's LYF mobile: A whopping $1 billion brand? New Delhi: Dhirubhai Ambani, the late founder of Reliance Industries Ltd (RIL), has been primarily credited for the vision and objectives of the oil-to-textile-to-retail-to-telecom conglomerate. Reliance Anil Dhirubhai Ambani Group or popularly known as Reliance ADA Group or simply Reliance Group is an Indian conglomerate, headquartered in Mumbai, India.The company, which was formed after Dhirubhai Ambani's business was divided up, is headed by his younger son Anil Ambani. Tesla CEO Elon Musk stood at the second position of Bloomberg Billionaires Index with $160 billion. After the death of Dhirubhai Ambani, the group was split into Reliance industries ltd, headed by Mukesh Ambani, and Reliance Anil Dhirubhai Ambani group (Reliance ADA group), headed by Anil Ambani… It offers supply for logistics to the RIL and also other third party companies. This is almost half of the wealth the conglomerate has created for investors over the past 25 years. ", "Arvind Kejriwal rakes up K G Basin gas pricing, orders FIRs against Moily, Deora, Mukesh Ambani", "Arvind Kejriwal calls BJP, Congress puppets of Mukesh Ambani", "Arvind Kejriwal's letter to Mukesh Ambani on gas pricing", "Clear your stand on Mukesh Ambani: Arvind Kejriwal tells Narendra Modi, Rahul Gandhi", "Arvind Kejriwal fires on all cylinders, now writes to Rahul Gandhi over gas prices involving Mukesh Ambani", "Arvind Kejriwal asks Narendra Modi to come clean on gas pricing", "Mukesh Ambani – Executive Profile & Biography", "Ernst & Young Entrepreneur of the Year Award", "Asia Society Awards Dinner Honors Mukesh Ambani, Jeffrey Immelt, and NY Philharmonic", "Winners of the NDTV Business Leadership Awards", "FC Businessman of the Year: Mukesh Ambani", "IMukesh Ambani awarded the Dean's Medal by University of Pennsylvania", "The 100 Best-Performing CEOs in the World", "BCIU Presents Dwight D. Eisenhower Global Awards to Mukesh D", "M.S. ", "How Reliance Jio's LYF became India's third largest selling phone brand", "Analysis | Who Is Mukesh Ambani, Asia's Newest Richest Man? The views of Dhirubhai Ambani are largely followed and admired by numerous business leaders and eminent personalities across the nation. Obtaining the license was a long-drawn-out process requiring a strong connection within the bureaucracy system because the government, at the time, was restricting large-scale manufacturing, making the importation of yarn for the textiles impossible. The Early office of Reliance commercial corporation was set up at Narsinatha Street in Masjid Bunder. [76], In early 2019, a court in Mumbai held his younger brother, Anil Ambani, in criminal contempt for non-payment of personally guaranteed debt Reliance Communications owed to Swedish gearmaker Ericsson. Reliance Industries is India's largest private sector company on all major financial parameters. [41] The release of the service Reliance Jio Infocomm Limited, commonly known as Jio, in September 2016 was a success, and Reliance's shares increased. Group's annual revenues are in excess of US$ 44 billion. The Anil Dhirubhai Ambani Group includes Reliance Communications, Reliance Infrastructure, Reliance Capital, Reliance Natural Resources and Reliance … The latter was originally named "Vimal" but later changed to "Only Vimal. While the matter is now in court, Reliance Industries shares have seen profit booking on the back of the dispute with Amazon. [70], Ambani was titled "The World's Richest Sports Team Owner" after his purchase of the IPL cricket team Mumbai Indians for $111.9 million in 2008. RELIANCE ANIL DHIRUBHAI AMBANI GROUP •Reliance Anil Dhirubhai Ambani Group (usually referred as Reliance Group and legally Anil Dhirubhai Ambani Ventures Limited) is an Indian multinational conglomerates. MUMBAI: The Mukesh Ambani-owned Reliance Logistics Pvt Ltd plans to provide logistics services to the retail sector soon, a top company official said. [43] As of February 2018, Bloomberg's "Robin Hood Index" estimated that Ambani's personal wealth was enough to fund the operations of the Indian federal government for 20 days. By this time, it had already expanded so that it also dealt in refining and petrochemicals. [10], Ambani has been quoted as saying that he was influenced by his teachers William F. Sharpe and Man Mohan Sharma because they are "the kind of professors who made you think out of the box."[17]. : QuickTake", "Macro cues, Q3 earnings, and oil prices to sway market this week", "What If the World's Richest Paid for Government Spending? In 2004 Reliance Industries (RIL) became the first Indian private sector organisation to be listed in the Fortune Global 500 list. [22] He was appointed as a Director of Bank of America and became the first non-American to be on its board. Dhirubhai Ambani applied for a license to set up a PFY manufacturing plant. Reliance Logistics is a Group of Companies that has operation in the field of Shipping, Forwarding, Trucking& Custom Clearance for the last eight years. … RELIANCE LOGISTICS. Reliance Infrastructure. [26], In 1980, the Indian government under Indira Gandhi opened PFY (polyester filament yarn) manufacturing to the private sector. Mukesh Ambani is planning to acquire yet some more startups, adding two more to its already long list. Microsoft co-founder Bill Gates was placed third on the list with $131 billion. Human Resources "In my book, we have no greater asset than the quality of our intellectual capital, and no greater priority than the growth and retention of our vast pool of talent" – Anil Dhirubhai Ambani At Reliance - Anil Dhirubhai Amabani Group, we recognise the critical role that our people play in the success and growth of each of our businesses. Reliance Logistics is a single-window company selling transportation, distribution, warehousing, logistics, ... entertainment and financial services business of the group. We pride ourselves on our ability to design and execute innovative, cost-effective solutions to even the most complex global logistics challenges. The Anil Dhirubhai Ambani Group includes Reliance Communications, Reliance Infrastructure, Reliance Capital, Reliance Natural Resources and Reliance Power. [37] In December 2013 Ambani announced, at the Progressive Punjab Summit in Mohali, the possibility of a "collaborative venture" with Bharti Airtel in setting up digital infrastructure for the 4G network in India. On Thursday, the scrip closed at 1,993.90, up 50.10 points or 2.58 per cent. In a BSE filing, the Mukesh Ambani-led Reliance Industries said that its wholly-owned subsidiary Reliance Industrial Investments and Holdings Limited (‘RIIHL’) will acquire equity shares of … The Reliance Group, founded by Dhirubhai H. Ambani (1932-2002), is India's largest private sector enterprise, with businesses in the energy and materials value chain. However, the deal faced serious hiccups with Amazon challenging it. RInfra is a constituent of the Reliance Group, one of the leading business houses in India, and fastest growing companies in the infrastructure sector with turnover of Rs 18,852 crore and market capitalization of over Rs 11,300 croreknow more Reliance Industries Limited (RIL) is headquartered in Mumbai and is taken care by Mukesh Ambani, the elder brother of Anil Ambani and the son of late Dhirubhai Ambani … Mukesh Ambani: Read Mukesh Ambani latest updates. 540 billion to the country annually. 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