Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#20 Mukesh Ambani $37.9B

Random fact: Received 2013 letter threatening attack on his 27-story home.

Overview

Ambani controls 40 percent of Reliance Industries, owner of the world's largest oil refining complex. The Mumbai-based conglomerate's other businesses include a 4G wireless network across India. The billionaire also owns a residential property worth more than $400 million and the Mumbai Indians professional cricket team.

As of Oct. 17, 2017:
Last change +$18.5M (+0.1%)
YTD change +$15.2B (+66.6%)
Industry Energy
Biggest asset RIL IN Equity
Citizenship India
Age 60
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Mukesh Ambani's net worth of $37.9B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Ambani's wealth derives from his 40 percent stake in Reliance Industries. The Mumbai-based company has the largest oil refining complex in the world, according to its website. He holds the shares directly, through holding companies, trusts and family members, according to a December 2016 filing to the Bombay Stock Exchange. Shares held by his family are credited to Ambani to reflect his status as founder, chairman and managing director.

Reliance Industries Holdings, a closely held company for his private investments, is valued based on its 2016 equity value.

The billionaire's Mumbai mansion, Antilia, is valued at more than $400 million, according to property surveyors. Media reports suggested Ambani has spent more than $1 billion on the 27-story property, a number he hasn't commented on.

The value of his cash investments is based on an analysis of dividends and insider transactions, as well as taxes and market performance.

Tushar Pania, a spokesman at Reliance Industries, confirmed Ambani's stake in the company. He declined to comment on the valuation of his personal assets and the calculation of his net worth.

Biography

Birthdate: 4/19/1957
Family: Married, 3 children
Education: Institute of Chemical Technology

Father Dhirubhai Ambani got his start as a clerk at the trading company A. Besse & Co. in Aden, Turkey. He struck out on his own in 1958 trading spices and yarn with Yemen and eventually built Reliance Industries into a fabrics, textiles and energy empire. The company, which began trading in India in 1977, often had its annual meetings in stadiums.

Mukesh Ambani moved to Palo Alto, California, in 1979, to attend Stanford Business School. He was summoned home a year later by his father to oversee construction of a polyester mill. The Ambanis began to buy up suppliers as well as petrochemical plants and oil refineries. Dhirubhai died of a stroke in 2002 without leaving a will, causing a fraternal feud between Mukesh and brother Anil.

Three years later, in a settlement brokered by their mother, the brothers split the family business. Mukesh retained control over refining, petrochemicals, oil and gas and textiles operations, while Anil took the telecommunications, asset management, entertainment and power generation businesses. The duo settled a legal dispute over sharing natural gas and dissolved the noncompete pacts in 2010. Three years later, the brothers announced a $220 million pact to share a fiber-optic network, their first deal since splitting the Reliance business empire. Mukesh told shareholders in June 2014 his company plans to start a $12 billion telecommunications network.

Mukesh built a 27-story mansion in Mumbai that holds six residents: Ambani, his wife, three children and his mother. The 48,000-square-foot building has room for 600 servants, three rooftop helipads, parking for 168 cars on six floors, a 50-seat movie theater, a grand ballroom with crystal chandeliers, three floors of Babylon-inspired hanging gardens, a yoga studio and a health spa and fitness center.

Milestones
  • 1977 Reliance Textiles Industries sells shares in a public offering.
  • 1996 Ambanis invest $6 billion in the construction of an oil refinery complex.
  • 2002 Discovers India's largest natural gas field in Bay of Bengal.
  • 2002 Dhirubhai Ambani suffers a stroke and dies.
  • 2005 Feud with brother Anil leads to split of Reliance Group.
  • 2011 Sells stakes in India oil and gas blocks to BP for $7.2 billion.
  • 2013 Announces first deal with brother since splitting Reliance Group.
  • 2015 Says $16 billion phone network to start operations in December 2015.