Name↓ Mukesh Ambani
Net worth (USD)↓ $27.0 billion increase
Sources of wealth↓ Reliance Industries
India’s highest valued company Reliance Industries is controlled by Mukesh Ambani. The oil and gas large conglomerate represents a large portion of Mukesh Ambani’s wealth. At an age of 54, the chairman of Reliance has big best on shale gas. Reliance Industries is buying large stakes in several American shale gas companies.
The Indian citizen has a net worth of twenty seven billion United States dollars ($27 billion USD). Ambani owns 48% of Reliance Industries. The continued rise in the Indian stock market and the value of the rupee has helped Ambani move up the list of billionaires. Ambani is believed to have been the richest man in the world at one point and is likely to return there or come closer to number one over the next two to three years.
Dhirubhai Ambani was the founder of Reliance Industries and his eldest son Mukesh, now runs the company. Born the eldest of four children, Mukesh and his family lived in a two bedroom apartment where he lived until the 1970s. Mukesh’s brother Anil owns a competing business in Reliance Anil Dhirubhai Ambani Group. The two brothers do not get along when it comes to their competing businesses in India. Mukesh officially joined Reliance in 1981 and led the company into new more profitable industries.
Mukesh Ambani has three kids with his wife Nita Ambani. The Indian billionaire owns The Mumbai Indians, a team in the Indian Premier League.
The most expensive home ever built belongs to Mukesh Ambani. The home was estimated to cost over one billion dollars to construct. Sources of Ambani’s wealth went on to pay for this humongous project. A staff of over six hundred people work in the home daily to maintain the large twenty seven story building. Ambani’s mother lives with her son and three grandchildren in the building. Items included in the building are:
- 400,000 square feet of living space
- Ability to park 168 vehicles
- Maintenance for vehicles
- 9 elevators located in the lobby
- Air traffic control with a helipad
- Health spa
- Yoga studio
- Seating for 50 in a movie theater
- Several swimming pools
- A ballroom
Ambani has taken some criticism for this giant mansion. India is one of the poorest countries in the world and the difference between the wealthy and the lower classes is large. The building was costly to build and maintain.
Throughout his career in the oil and gas sector Mukesh Ambani has received many awards and accolades.
- 2004 Telecom Man of the Year – Voice and Data magazine
- 2004 World Communication Award – Total Telecom
- 2007 Leadership Award – United States/India Business Council
- 2010 Dean’s Medal – University of Pennsylvania