He Is 'Asia's Richest Person'; How Rich Is Reliance Industries Chairman Mukesh Ambani?

Mukesh Ambani’s Net Worth

Mukesh Ambani, the leading business tycoon from India, the richest man in Asia and currently the 12th richest billionaire in the world (at the time of writing), has an estimated net worth of $95.3 billion as of September, according to Forbes. He is the managing director and chairman of Reliance Industries, India’s most valuable company by market capitalization.

Ambani has his succession plan worked out as his son Akash Ambani is now the chairman of Reliance Jio, his daughter Isha Ambani is in charge of retail and financial services, and his younger son Anant Ambani is in the new energy business. The Ambani siblings have been appointed to the board of Reliance Industries as the 66-year-old prepares to hand over the reins.

Recently, global investment firm KKR & Co. announced that it will invest $249.19 million in Ambani’s rapidly expanding retail unit that rivals Amazon and Walmart in India, Bloomberg reported.

Mukesh Ambani’s sources of income

Mukesh Ambani is the chairman and managing director of Reliance Industries which has a revenue of $110 billion, as per Forbes. As the chairman, Ambani receives an annual salary of approximately $6.2 million, as per the The Times of India.  The conglomerate has businesses in petrochemicals, oil and gas, telecom, and retail and it owns the world's largest oil refining complex. The telecom wing, Reliance Jio, has over 450 million subscribers. In August this year, Reliance listed its finance arm Jio Financial Services.

IPL Team

Mukesh Ambani became "The World's Richest Sports Team Owner" when he purchased the Indian Premier League cricket team the Mumbai Indians for $111.9 million in 2008. As per Forbes, the Mumbai Indians team was worth $1.3 billion in 2022 and it is one of the most successful teams in the IPL. Ambani is also the founder of the football league, the Indian Super League.

Ambani also owns the 259-year-old British toy maker 'Hamleys', which he acquired for $88.5 million in 2019, according to the Economic Times. He is also the first non-American to be on the Bank of America's board and is a former director of the bank.

Mukesh Ambani’s Assets

Ambani’s home, Antilia, is regarded as the Buckingham Palace of India. The house is built on an area of 400,000 sq. Ft. in one of the world’s most posh areas, the Altamount Road in South Mumbai.

Out of the 27 floors, the top six floors are fully residential while six floors from the ground floor are dedicated to car parking. The abode has extraordinary amenities such as air traffic control, three helipads, a theatre with a capacity of 50 people, terrace gardens, a ballroom, 9-speed elevators, a health center, a temple, spa, a snow room, and 168-car parking. Antilia is one of the world’s most expensive private residences with an estimated value of $2 billion.

Ambani also owns the heritage property of Stokes Park in London, which he reportedly acquired for $79 million, as per Bloomberg. The historic estate that dates back more than 900 years, includes a five-star hotel, three restaurants & lounges, 13 tennis courts, and a 27-hole championship golf course. 

In 2022, Ambani bought the most expensive house in Dubai from Kuwaiti tycoon Mohammed Alshaya for a whopping $163 million, as per NDTV. The beachfront Palm Jumeirah mansion is regarded as one of the largest and most luxurious properties in Dubai.

Apart from his uber-luxurious homes, Ambani has a luxury car collection of dreams. He has the most expensive cars from brands like Bentley, Rolls Royce, Mercedes Benz, BMW and more parked in his garage. Some of the top cars in his collection include the Rolls Royce Cullinan, BMW 760Li, Mercedes Maybach 62, Aston Martin Rapide, and Mercedes SL500. Further, Ambani owns two private jets, an Airbus 319 and a Falcon 900EX.

Personal life

Mukesh Ambani was born on April 19, 1957 in Yemen to Dhirubhai Ambani and Kokilaben Ambani. Reliance Industries was founded by Dhirubhai Ambani in 1966. After Dhirubhai's death in 2002, Mukesh and his younger brother Anil assumed joint leadership of Reliance. Ambani has been married to Nita Ambani since 1985. Their marriage was arranged by Ambani’s father and the couple have two sons and a daughter. Ambani gifted his wife the $60 million Airbus A319 for her 44th birthday in 2007. The private jet features custom fittings for a living room, bedroom, satellite television, sky bar, Jacuzzi, and office.

Awards and honors

2000 'Ernst & Young Entrepreneur of the Year' by Ernst & Young India.

2010 'Global Vision Award at The Awards Dinner' by Asia Society.

2010 'Business Leader of the Year' by NDTV India.

2010 'Businessman of the Year' by Financial Chronicle.

2010 'School of Engineering and Applied Science Dean's Medal' by the University of Pennsylvania.

2010 ranked as '5th-best performing global CEO' by Harvard Business Review.

2010 'Global Leadership Award' from the Business Council for International Understanding.

2013 'Millennium Business Leader of the Decade' at India Leadership Conclave & Indian Affairs Business Leadership Awards.

2016 'Foreign associate, U.S. National Academy of Engineering' by the National Academy of Engineering.

2016 'Othmer Gold Medal' from Chemical Heritage Foundation.

FAQs

How old is Mukesh Ambani?

Mukesh Ambani is 66 years old.

How did Mukesh Ambani get so rich?

Mukesh Ambani started helping his father, Dhirubhai Ambani in 1981, in Reliance Industries Limited. The company worked in telecommunication, retail, petrochemical, and refinement services, which rapidly grew in India allowing Mukesh's wealth to rise exponentially.

Who is the richest man in India?

Mukesh Ambani, the Managing Director and Chairman of Reliance Industries is India's richest individual.

What is Mukesh Ambani’s net worth?

Mukesh Ambani’s net worth is estimated to be $95.3 billion as of September 2023, according to Forbes.