Anil Dhirubhai Ambani (born 4 June 1959) is an Indian businessman. He is the chairman of Reliance Group (also known as Reliance ADA Group), which was created in July 2006 following a demerger from Reliance Industries Limited. He leads a number of stock listed corporations including Reliance Capital, Reliance Infrastructure, Reliance Power and Reliance Communications. Ambani, once the sixth richest person in the world, as of July 2019, his net worth has fallen to $109 million.
Ambani in 2012
|Born||4 June 1959|
|Alma mater||University of Mumbai(B.Sc.)|
University of Pennsylvania(MBA)
|Net worth||USD 523 million (2019)|
|Title||Chairman, Reliance Group|
Tina Ambani (m. 1991)
|Relatives||Mukesh Ambani (brother)|
His major business interests in entertainment include 44 FM radio stations, nationwide DTH business, animation studios, and several multiplex cinemas throughout India. After his father's death in 2002, Anil Ambani took over the reins of Reliance Group with interests in telecom, entertainment, financial services, power and infrastructure. Ambani is also credited with India's largest IPO, that of Reliance Power, which in 2008 was subscribed in less than 60 seconds, the fastest in the history of Indian capital markets to date.
In 2005 Ambani made his debut in the entertainment industry with an acquisition of a majority stake in Adlabs Films, a company with interests in film processing, production, exhibition and digital cinema. The company was renamed Reliance MediaWorks in 2009.
In 2008 a joint venture worth US$1.2 billion with Steven Spielberg's production company DreamWorks cast Ambani's entertainment business on to a global platform. He has contributed to the production of a number of Spielberg films, including the Academy Award-winning Lincoln.
Early life and education
Ambani is a Gujarati. He is married to Indian actress Tina Munim, and they have two sons, Jai Anmol and Jai Anshul. Ambani is the younger brother of Mukesh Ambani and has two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaocar.
Awards and recognition
- Conferred the 'Businessman of the Year 1997' award by India's leading business magazine Business India, December 1998.
- Voted 'the Businessman of the Year' in a poll conducted by The Times of India – TNS, December 2006.
- Voted the 'Best role model' among business leaders in the biannual Mood of the Nation poll conducted by India Today magazine, August 2006.
- Conferred 'the CEO of the Year 2004' in the Platts Global Energy Awards.
- Conferred 'The Entrepreneur of the Decade Award' by the Bombay Management Association, October 2002.
- Awarded the First Wharton Indian Alumni Award by the Wharton India Economic Forum (WIEF) in recognition of his contribution to the establishment of Reliance as a global leader in many of its business areas, December 2001.
- Selected by Asiaweek magazine for its list of 'Leaders of the Millennium in Business and Finance' and was introduced as the only 'new hero' in Business and Finance from India, June 1999.
In 2018, India's principal opposition party, Indian National Congress, accused Prime Minister Narendra Modi of favouring Anil Ambani's defence manufacturing company over HAL, a public sector enterprise, in a fighter aircraft deal worth INR 58,000 crores with French manufacturing firm Dassault. Ambani, several of whose companies are debt-ridden, has denied all charges of benefiting from crony capitalism. In a possibly related controversy, one of his businesses partly financed a French film in which former French president Francois Hollande's then-partner had acted around the same time the aircraft deal was being negotiated. He gained notoriety as one of the fastest destroyers of shareholder wealth in the last 100 years with the combined group market cap declining by 90% since the formation of the Reliance ADA group.
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- Paranjoy Guha Thakurta; Subir Ghosh; Jyotirmoy Chaudhuri (30 March 2014). GAS WARS: Crony Capitalism and the Ambanis. Paranjoy Guha Thakurta. ISBN 978-81-928551-3-4.
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- Business Ethics and Corporate Governance. books.google.co.in.
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- "Rafale row: Reliance Entertainment confirms it paid 1.4 million Euros for film by Hollande's partner through partner". indianexpress.com.
- "DCC wants TRAI to review stand on spectrum pricing, quantum". 14 June 2019 – via The Economic Times.
- "Anil Ambani falls off billionaire club; equity wealth crashes from $42 billion to $0.5 billion". www.businesstoday.in.