Who does not knows the name of the chairman and the managing director of Reliance Industry, Mukesh Ambani, the globally renowned business tycoon and one of the richest personalities existing on the planet? We all have heard his name and seen him making the news headlines quite often, nowadays. Very recently he has again made headlines for spending a whopping rupees 640 crores to buy the most expensive property for his son Anant Ambani, in Dubai, and also for acquiring a New Delhi-based pure drink band of the 70s, Campa Cola for an amount of 22 crores.
Being a Fortune 500 organization, his company Reliance Industries Limited, which was established on May 8, 1973, is one of the world’s largest private segment endeavors in India.
Now, what we are going to do ahead is, we will try to dig a bit into his life’s journey and will try to know more about him and his success story as well.
Keep up your excitement, continue reading it ahead, and explore it all you can! We will meet you on the other side of the story!
Mukesh Ambani’s Early Life
Yemen, the Middle East Country, is the place where Mukesh Ambani was born on April 19, 1957. His father, one of the legends of India, Dhirubhai Ambani was used to serve as a petrol pump attendant there.
When the Ambani family moved to India, their standard of living enriched and they started to live in an apartment, which was of 2 bedrooms. Here Mukesh’s father successfully started his business in the textile industry, under the Vimal brand.
Within a short time, Dhirubhai Ambani purchased a 14-floors building for where his family could live in. He wanted Mukesh to have a normal childhood as he believed it to be the best for Mukesh and so Mukesh had to use public transport for going to school and did not receive any allowance from his father. And from the Institute of Chemical Technology, Mumbai, Maharashtra, he completed his graduation and became a chemical engineer.
Dropped Out of Stanford University
When Mukesh was pursuing his MBA from Stanford University, his father asked him to drop out and join him to set up the plant, his father believed that real-life skills get harnessed through experiences, and not by sitting in the classroom. Mukesh obeyed his father’s instructions and played a very significant role in setting up the plant, and he has done it exceptionally well as it was very advanced. It became possible because, for his father, Mukesh was a business partner and was allowed to make contributions even if Mukesh did not have experience.
Moving forward in his journey, at Jamnagar, Gujarat, the world’s largest petroleum refinery. But he was in no mood to stop here and founded a telecom firm named Reliance Communication, in the year 1973.
Dhirubhai Ambani Passed Away
In the year 2002, Dhirubhai Ambani got a second stroke and passed away. However, Dhirubhai Ambani did not write any will but their mother decided to split the assets of the company between two brothers as some disputes began to appear between two brothers, Mukesh and Anil. And in this split of the assets, Refining, Oil and Gas, and Petrochemicals companies were now of Mukesh’s, and Telecom, Financial Services, and Electricity segments were given to Anil.
Mukesh still did not stop here, he then thought to pour the money that he made from his Oil and Petrochemicals business to build a competitive company in the telecom industry, an industry that was then already dominated by a good few giants in the sector.
In September 2016, Mukesh Ambani launched Reliance Jio Infocomm Limited, which is popularly known as Jio. This was launched at the lowest price possible in the market, which very soon became so wildly popular in the market that it was giving unbeatable competition to other service providers. It has not only given the unbeatable competition but all the other service providers were now forced to reduce their costs of services.
Reliance Reaching New Heights
Reliance, under the leadership of Mukesh Ambani, is continuing to reach new heights of success. Mukesh made Reliance the first Indian Company of which the market capitalization has exceeded 100 billion dollars. Furthermore, Reliance is presently one of the most profitable companies in the nation.
So, this was all about our discussion where we got to know the interesting success story of Mukesh Ambani. We explored a bit about his father as well and learned a few things about him, too.
And with this note, we hope that this was an interesting and informative read for you.