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| Mukesh Ambani at the India Economic Summit |
Mukesh Dhirubhai Ambani (born on 19 April 1957) is an Indian business magnate who is the chairman and CEO of the Indian conglomerate Reliance Industries Limited (RIL), a Fortune Global 500 company and India's most valuable company by market value.[4] [5][6] Ambani remains the largest individual shareholder, with 44.7 percent stake in RIL.[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 2013, he is India's richest man, second richest man in Asia[9] Ambani is listed as the 22nd richest person in the world with a personal wealth of $21.5 billion. He has retained his position as the world's richest Indian for the sixth year in a row.[10] He is a member of the board of directors of Bank of America Corporation and the international advisory board of the Council on Foreign Relations. He is also the chairman of the board of Indian Institute of Management Bangalore, one of the premier business schools in the country.
In 2012, Forbes named him the richest sports owner [11] in the world. He co-owns the Indian Premier League franchise Mumbai Indians.[12]
Early life
Mukesh Ambani was born on 19 April 1957 to Dhirubhai Ambani and Kokilaben Ambani. He has a younger brother, Anil, and two sisters namely Dipti Salgaoncar and Nina Kothari. The Ambani family lived in a two bedroom apartment in Bhuleshwar, Mumbai until the 1970s.[13] 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.[14]
He attended the Hill Grange High School on Peddar Road, Mumbai, along with his brother Anil Ambani and where Anand Jain, his close associate, was his classmate.[15] He received BE degree in chemical engineering from the University of Bombay; Mumbai; University Department of Chemical Technology. [16] Mukesh later enrolled for an MBA from Stanford University but completed only one year of the two year program before dropping out in 1980.[17] The 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 license to set up a PFY manufacturing plant. In spite of stiff competition from Tatas, Birlas and 43 others, Dhirubhai was awarded the licence.[18] 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.[19]
In 2010, Mukesh Ambani was given Hon.DSc'Doctor of Science Honoris Causa'degree by M.S University, Baroda[20]
Business career
Mukesh Ambani joined Reliance Industries in 1987.[21] 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.[22]
Mukesh Ambani set up one Reliance Infocomm Limited (now Reliance Communications Limited), which was focused on information and communications technology initiatives.[23]
Ambani directed and led the creation of the world’s largest grassroots petroleum refinery at Jamnagar, India, which had the capacity to produce 660,000 barrels per day (33 million tonnes per year) in 2010, integrated with petrochemicals, power generation, port and related infrastructure.[24]
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