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The Success Story The Legend:Mr.Mukesh Ambani

Mukesh Dhirubhai Ambani, a True Champion, and a Legendary Entrepreneur is THE FACE OF MODERN Indian Industrialists. The Chairman and Managing Director of Reliance Industries running Ambani’s real legacy is a “role model for Young Entrepreneurs”. Mukesh, the owner of the largest private sector, and the Fortune 500 Company in India has successfully set up the path towards the development of Modern India.

The recent announcement of the biggest foreign investment by Japan’s Softbank in Reliance Jio and Saudi giant Aramco in Reliance Industries’ refining and petrochemical business is a lesson to Young Entrepreneurs how to take advantage of the opportunities by taking some risks in life. His meticulous plan to deleverage business by selling stakes shows his visionary leadership. Mukesh always believes “Investment in excellence is Investment in Future”.   

Mukesh’s business styles and strategies give an impression of his walking in his father’s Dhirubhai Hirachand Ambani’s footsteps while following his ideals and framing an example for his next generation. The son of a rich noble family got the business management skills, revolutionary attitude, faith in teamwork, and a helping attitude from his father while disciplining, determination, and Nationalist attitude from his mother Kokilaben Ambani to whom he was the closest among family members.

Mukesh Ambani, a 62-year-old business tycoon, owning the property of about $50 billion, featured on the Forbes billionaire list as the 13th richest businessman, is among the World’s Top Billionaires and the sole Indian among the top wealthiest person. Although he captured the attention of business fraternity in the Year 2000 when he received Ernst & Young Entrepreneur of the Year, he was passionate about Business and Entrepreneurship since childhood. Even though he is India’s wealthiest individual, he is known for being “humble-minded”.

Mukesh Ambani was born on 19 April 1957 in Yemen. This was because his late father and Indian legend Dhirubhai Ambani then worked as a petrol station attendant there.

The family soon moved to India where their standard of living improved as they now lived in a 2 bedroom apartment. It was good times from here as his father successfully set up his business in the textile industry under the brand Vimal.

His father soon purchased a 14 story building for the family to live in. Despite this, his father believed that it was best for Mukesh to have a normal childhood. He would use public transport to go to school and never received any allowance.

Dropping out for Reliance

Mukesh went onto pursue his MBA from Stanford. It was at the same time that his father had successfully beaten the Tata’s and Birla’s to secure a license for PFY (Polyester Filament Yarn) manufacturing.

His father always believed that real-life skills were harnessed through experience, not by sitting in a classroom. Due to this belief, he asked Mukesh to drop out and join him in setting up the plant.

Taking Reliance to new heights

Mukesh Ambani successfully diversified Reliance into a conglomerate that owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.

Apart from setting up Telecomm Giant ‘JIO’, Mukesh Ambani is also slowly venturing into the Retail and e-commerce industry by Partnering with Mark Zuckerberg’s Whatsapp. In April 2020, Facebook had invested $5.7 Bn in Reliance Jio by acquiring a 9.99% stake at a pre-money valuation of $65.95 Bn.

Further to deepen its roots in the Retail segment, Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries also acquired Kishore Biyani’s Future Group in a ₹24,713 crore deal (which is currently engaged in a legal battle with Amazon). RIL also acquired a majority stake in online pharmacy ‘Netmeds’ for about ₹620 crores in the same month.

Under his leadership, Reliance became the first Indian company to exceed $100 billion in market capitalization.  It is also currently the most profitable company in India.

The company has been responsible for almost 5% of the revenue the government of India earns from Customs and Excise duty. The growth also propelled him to become the richest man in Asia. His net worth as of 2021 stands at $76.3 billion.

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