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Mukesh Ambani

Mukesh Ambani

Born19 April 1957(age58)Aden,Yemen[1][2]

ResidenceMumbai,Maharashtra,India

NationalityIndian

EthnicityGujarati[3]

AlmamaterInstitute of Chemical TechnologyForest School (Walthamstow)Stanford University(discontinued)[4]

OccupationChairman ofReliance Industries

NetworthUS$32.2 billion (July 2015)[5]

ReligionHinduism

Spouse(s)Nita Ambani

ChildrenAkash AmbaniAnant AmbaniIsha Ambani[6]

Parent(s)Dhirubhai AmbaniKokilaben Ambani

RelativesAnil Ambani(Brother)

WebsiteMukesh Ambani

Mukesh Dhirubhai Ambani(born 19 April 1957) is an Indianbusiness magnatewho is the chairman, managing director and largest shareholder ofReliance Industries Limited(RIL), aFortune Global 500company and India's second most valuable company bymarket value.[7][8][9]He resides at theAntilia Building, the world's most expensive property.[10][11]He holds a 44.7% stake in the company.[12]He is the elder son of the lateDhirubhai Ambaniand the brother ofAnil Ambani. RIL deals mainly in refining,petrochemicals, and in the oil and gas sectors.Reliance RetailLtd., another subsidiary, is the largestretailerin India.[13]In 2014, he was ranked 36 on Forbes list of the world's most powerful people[5]and in 2010, he was included inForbes's list of "68 people who matter most".[14]As of 2013, he is India's richest man and second richest man in Asia.[5]Ambani is listed as the19th richest person in the worldwith a personal wealth of $23.6 billion.[15]He has retained his position as India's richest person for the sixth year in a row.[16]Through Reliance, he also owns the Indian Premier League franchiseMumbai Indians. In 2012,Forbesnamed him one of the richest sports owners in the world.[17][18]He has served on the board of directors ofBank of America Corporationand the international advisory board of the [Council on Foreign Relations]]. He was the chairman of the board ofIndian Institute of Management Bangalore, which is one of the leading business schools in India.Contents[ 1Early life 2Business career 3Board memberships 4Awards and honors 5Personal life 6See also 7References 8External links

his classmate.[21]He received his BE degree in Chemical Engineering from theInstitute of Chemical Technology, Matunga.[22]Mukesh later enrolled for anMBAatStanford Universitybut has discontinued the program to help his father build Reliance, which at the time was still a small but fast growing enterprise.[23]Business career[edit]In 1980, the Indian government underIndira Gandhiopened PFY (polyester filament yarn) manufacturing to the private sector. Dhirubhai Ambani 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.[24]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 discontinued the program to help his father and initiated Reliance's backward integration from textiles into polyester fibres and further into petrochemicals, beginning in 1981.[25]Mukesh Ambani set up Reliance Infocomm Limited (nowReliance Communications Limited), which was focused on information and communications technology initiatives.[26]Ambani directed and led the creation of the world's largest grassroots petroleum refinery atJamnagar,India, which had the capacity to produce 660,000 barrels per day (33million tonnes per year) in 2010, integrated with petrochemicals, power generation, port and related infrastructure.[27]In December 2013 Ambani announced, at the Progressive Punjab Summit in Mohali, the possibility of a "collaborative venture" with Bharti Airtel in setting up digital infrastructure for the 4G network in India.[28]In February 2014, an FIR has been filed against Mukesh Ambani for alleged irregularities in the pricing of natural gas from K G Basin.[29]Arvind Kejriwal, who had a short stint asDelhi's chief minister and had ordered the FIR against has accused various political parties of being silent on the gas price issue.[30]Kejriwal has asked bothRahul GandhiandNarendra Modito clear their stand on the gas pricing issue.[31][32]Kejriwal has alleged that the Centre inflated the price of gas to eight dollars a unit though Mukesh Ambani's company spends only one dollar to produce a unit, which meant a loss ofRs. 540billion to the country annually.[33][34]On 18 June, Mukesh Ambani, addressing the 40th AGM of Reliance Industries, said it will invest Rs 1.8trillion (short scale) across businesses in the next three years and launch 4G broadband services in 2015.[35]Board memberships[edit] Memberof Board of GovernorsInstitute of Chemical Technology, Mumbai Chairman, managing director, Chairman of Finance Committee and Member of Employees Stock Compensation Committee,Reliance Industries Limited Former chairman,Indian Petrochemicals Corporation Limited Former vice-chairman,Reliance Petroleum chairman of the board,Reliance Petroleum Chairman and Chairman of Audit Committee,Reliance Retail Limited. Chairman, Reliance Exploration and Production DMCC Former Director, Member of Credit Committee and Member of Compensation & Benefits Committee',Bank of America Corporation[36] President,Pandit Deendayal Petroleum University, Gandhinagar, GujaratAwards and honors[edit] Ambani is Ranked 5th besbest performing CEO in the world byHarvard Business Reviewin its ranking of top 50 global CEOs.[37]Year of Award or HonorName of Award or HonorAwarding Organization

2000Ernst & Young Entrepreneur of the Year[38]Ernst & Young India

2010Global Vision Award at The Awards Dinner[39]Asia Society

2010Business Leader of the Year[40]NDTV India

2010Businessman of the Year[41]Financial Chronicle

2010School of Engineering and Applied Science Dean's Medal[42]University of Pennsylvania.

2010Global Leadership Award[43]Business Council for International Understanding

2010Honorary Doctorate (Doctor of Science)[44]M. S. University of Baroda

Antilia, as seen from Altamount RoadPersonal life[edit]Mukesh is married toNita Ambaniand has two sons, Anant and Akash, and a daughter, Isha.[45]They live in a private 27-story building in Mumbai namedAntiliavalued at US$1billion and it is said to be the most expensive home in history.[46][11]During the fiscal year ending 31 March 2012, Mukesh, it was reported, decided to forgo nearly Rs 240million from his annual pay as chief of Reliance Industries Ltd (RIL). He elected to do this even as RIL's total remuneration packages to its top management personnel increased during that fiscal year. This move kept his salary capped at Rs 150million for the fourth year in a row.[47]See also[edit] Make in Maharashtra Energy in India Nolan, Jeannette."Mukesh Ambani".Encyclopdia Britannica. Retrieved6 October2013 "The Rediff Business Interview/ Mukesh Ambani". Rediff.com. 17 June 1998. Retrieved22 August2013. Jump up^"Meet the Gujarati who went on to become the richest Indian".Daily Bhaskar. Retrieved29 January2014. Jump up^'Always invest in businesses of the future and in talent'. Rediff.com. 17 January 2007 ^Jump up to:abc"Mukesh Ambani".Forbes. Jump up^"NY Times pics on Mukesh Ambani".The New York Times(India). 15 June 2008. Retrieved22 August2013. Jump up^"Mukesh Ambani:: RIL:: Reliance Group of Industries". RIL.com. Retrieved22 August2013. Jump up^"FORTUNE Global 500 2011: Countries". CNN. 24 July 2011. Retrieved22 August2013. Jump up^"Market Capitalization".Indian stock markets:Companies by Market Capitalization. Rediff.com. Jump up^Magnier, Mark (24 October 2010)."Mumbai billionaire's home boasts 27 floors, ocean and slum views".Los Angeles Times. ^Jump up to:abKwek, Glenda (15 October 2010)."India's richest man builds first $2-billion home, Antilia,".The Age(Melbourne). Retrieved28 October2010. Jump up^Chu, Patrick; Ismail, Netty (5 March 2012)."Mukesh Ambani Backed by India Power Holdings Proves Asia's Top Billionaire".Bloomberg. Retrieved22 August2013.Year 2012. Van Riper, Tom."Mukesh Ambani in photos".Forbes. Retrieved22 August2013. Jump up^"Mumbai Indians owner Mukesh Ambani among richest sport owners". Cricic.com. 20 January 2010. Retrieved22 August2013. Jump up^"Reliance didn't grow on permit raj: Anil Ambani". Rediff.com. 11 May 2002. Retrieved28 October2010. Jump up^Yardley, Jim (28 October 2010)."Soaring Above India's Poverty, a 27-Story Home".The New York Times. Jump up^Anand Jain: A bone of contention between the Ambani brothers. India Today. 17 January 2005 Jump up^"Mukesh Ambani on his childhood, youth".Mukesh Ambani on his childhood, youth. Rediff.com. Retrieved5 October "Always invest in businesses of the future and in talent".Rediff Business Interview with Mukesh Ambani, 2007. Rediff.com. Retrieved17 October2011. Jump up^"Reliance Industries Company Profile".Reliance Industries Ltd. Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd. Read more: Reliance Industries Ltd. Company Profile, Information, Business Description, History, Background Information on Reliance Industries Ltd.- Reference for Business. Advameg Inc. Retrieved17 October2011. Jump up^"Mukesh Ambani:: RIL:: Reliance Group of Industries". RIL. Retrieved29 March2010.

Mukesh Ambani, India's richest man, has just bought his latest car: the most powerful, and armoured Mercedes Benz for his personal security.The fortified Benz is mounted on a normal S600. The RIL car has Level-9 vehicle resistance (VR9), the highest available currently. It was customised at Benz's Sindelingen plant in Germany.This is Ambani's second big ticket purchase this year after he spent Rs 8.5 crore on a new armoured BMW in April.The base price of the S600 is Rs 1.5 crore. But this armoured car is likely to cost a lot more, because of import duties of 300 percent, and the sophisticated armour and other additions made to the car to make it secure. The total cost might well be around the same price he paid for the BMThe Benz was registered at the Mumbai Central Regional Transport Office (RTO) today. "As chairman of India's largest private conglomerate, Mukesh Ambani is the custodian of the interests of more than 2.8 million shareholders. He has Z-category security since April 2013. An armoured vehicle complies with advice of the security establishment for protectees of this level," said a source who is aware of the purchase.An email to RIL spokesperson seeking details wasn't answered.Demand for super-secure carriages for apex protectees in the world of business, politics and the arts has been surging globally. RIL, the source said, had to queue up at No. 57 on the global wait list for the 2015-model armoured S600. This meant a wait of eight months before the car could land in India earlier this week.The 2015-model S600 V-9 armoured vehicle is the first in India. Actor Aamir Khan has the 2014 model.The story of Mukesh Ambani's loss-making private firm that just got public banks to restructure its loansLoss-making Reliance Gas Transportation Infrastructure has been the beneficiary of favourable decisions by the government and banks.Paranjoy Guha Thakurta Jun 16, 2015 09:00 am

A loss-making company controlled by India's richest man, Mukesh Ambani, who heads the country's biggest private corporate entity, Reliance Industries Limited, has successfully managed to reschedule repayments of its loans to banks. Reliance Gas Transportation Infrastructure Limited, the closely-held firm whose shares are not listed on stock exchanges,has a colourful and controverisal past.

According to astorybroken by Dev Chatterjee in theBusiness Standardon June 12, this is the first time a company in the Reliance group led by Mukesh Ambani has sought and obtained rescheduling of loans extended to it by Indian public-sector banks.

RGTIL's losses for the financial year that ended on March 31, 2015, stood at Rs 436 crore on an income of Rs 1,357 crore. In the previous year, the company's losses were nearly eight times higher at Rs 3,403 crore on a slightly higher income of Rs 1,412 crore. The company's debt was above Rs 16,000 crore at the end of March.

RGTIL has stated that it had received a sanction from nationalised banks to repay the principal loan amount outstanding by 2030-31 insteinstead of 2019-20. Such a rescheduling is considered most generous.Closely held company

Why did this company seek and obtain a new schedule for repaying the loans it had received from a consortium of banks? And what is the role of this particular firm in the bigger affairs of RIL, India's biggest private corporate entity, and its associates?

RGTIL is a company in which Mukesh Ambani holds a personal stake is 42.5%. Being a closely-held private company, its accounts are not part of the financial statements that are disclosed by RIL, which is a widely-held company whose shares are listed on stock exchanges. Yet this company plays an important role in the activities of the wider business empire controlled by the Ambani family.

RGTIL owns and operates a nearly 1,400-kilometre-long natural gas transportation pipeline from Kakinada in Andhra Pradesh to Bharuch in Gujarat that passes through four states including Karnataka and MaharashtraThe company's losses are apparently on account of a sharp fall in production from the D6 block in the Krishna-Godavari basin in the Bay of Bengal, where a company controlled by the Reliance group has been contracted by the government to explore and extract natural gas. The decline in gas output has, in turn, led to significant decline in the utilisation of the pipeline's capacity.

In 1999, when RIL obtained the rights to explore the D6 block, it was estimated that gas output would be in the region of 40 million metric standard cubic metres a day. This figure was subsequently doubled and the pipeline that was built to transport the gas assumed gas production would be 80 mmscmd.

These estimates seemed reasonable when in March 2010 gas production reached nearly 70 mmscmd and RIL crowed about its achievement. However, gas output started dipping thereafter.Falling output

In 2010-11, production averaged less than 56 mmscmd and in the following year, gas output dropped below 43 mmscmd. Worse was to follow. In 2012-13, production shrunk to 26 mmscmd and by December 2014, the average output of gas from the KG-D6 block had come down to a meagre 10 mmscmd, an eighth of the amount had been envisaged.

Reliance group spokespersons claimed the fall in gas production was on account of "natural" and "unanticipated" factors, whereas others including the Comptroller and Auditor General of India and a Parliamentary committee were sceptical about their explanation.

They contended that output had been "deliberately" suppressed in anticipation of higher prices of gas which are administered by the government. RIL protested.Over the last three years, the Ministry of Petroleum and Natural Gas has levied penalties on the contracting company led by RIL, disallowing it from recovering costs incurred to the extent of nearly $ 2.4 billion (or around Rs 15,000 crores at the prevailing exchange rate). The company again protested.

A number of petitions on these and related issues are currently under adjudication in the Supreme Court. In addition, arbitration proceedings are proceeding concurrently.

The drastic fall in gas production has not merely adversely affected the fortunes of RGTIL. Power plants which were set up to use the gas are operating way below their installed capacities. According to a December 2013 report of a Parliamentary committee, power projects with investments of Rs 40,000 crore are "stranded" because of non-availability of gas.

In March, the Union cabinet approved a plan to subsidise imported liquefied natural gas to help these stranded projects.Intense battle

RGTIL was created in March 2003 as a 100% subsidiary of RIL. In August 2004, RGTIL was granted approval by the Ministry of Petroleum and Natural Gas to build a pipeline to transport gas from Kakinada to Bharuch.

Between November 2004 and June 2005, the Ambani brothers Mukesh and Anil fought a bitter battle in public over control of the assets of the businesses of the family.

On April 21, 2005, an unusual development took place. For a paltry sum of Rs 500,000, RGTIL was taken out of the ambit of RIL and converted into an "independent" company controlled entirely by Mukesh Ambani.

The way this was done presents a typical case study of how Ambani family members structure their personal assets, using a slew of companies with extremely complicated cross-holdings that is, shares held by a clutch of corporate entities in one another with loyal employees and associates acting as directors in these firms.The story of RGTIL then took an interesting turn, The Union budget for 2009-10, announced by Pranab Mukherjee, who was the finance minister at the time (and is now President of India) on July 6, 2009, inserted Section 35AD in the Income Tax Act, 1961, to allow 100% of the capital expenditure incurred on setting up and operating a natural gas or a crude oil pipeline as a tax deduction in the very first year of operation.

This was the only business of its kind in India in which the entire capital expenditure incurred was allowed to be treated as revenue expenditure in the first year of operation. The estimated benefit to RGTIL was a staggering Rs 20,000 crore.

Deal is investigatedFour years later, in 2013, a report was drafted by the Serious Fraud Investigation Office in the Ministry of Corporate Affairs investigating the manner in which firms in the Reliance group had sought to control a company which controlled the NewsX television channel.

The draft report, which was presented in the Supreme Court on November 11 that year by lawyer Prashant Bhushan as an annexure to a public interest litigation petition, alleged that there had been a "fraudulent" set of transactions linked to corporate entities controlled by lobbyist Niira Radia, a Mauritius-based associate of multinational investment firm New Silk Route (whose founders included Rajat Gupta and Raj Rajaratnam who were been found guilty of insider trading charges in the United States) and RGTIL.

The Serious Fraud Investigation Office draft report claims that the RIL chief quietly and without any disclosure "stripped RGTIL from RIL and converted into his personal property at a meagre price" through a "maze of private companies" that enabled India's richest man to "convert" a wholly-owned subsidiary of the country's largest private corporate entity into his "personal property" in a "classic manoeuvre".

RGTIL also figures among the firms involved in the so-called Biometrix case. In 2013, the Enforcement Directoratein the Ministry of Finance (which is responsible for enforcing the Foreign Exchange Management Act and the Prevention of Money Laundering Act) wrote to the Reserve Bank of India seeking its advice on the legality or otherwise of a loan of Rs 6,530.36 crore ($1.62 billion) by an overseas branch of ICICI Bank to a Singapore-based company called Biometrix Corporation that later returned to the country allegedly as foreign direct investment through the issuance of financial instruments in four Reliance group companies, including RGTIL.

The range of transactions relating to this company underscores its importance to the sprawling business empire of India's richest man.

The writer is a journalist, educator and documentary film-maker. He is the lead author ofGas Wars: Crony Capitalism and the Ambanis.

About Mukesh Ambani son of Dhirubhai AmbaniMukesh Ambani's FamilyMukesh Ambani was born on 19 April 1957. His father was famous industrialist Dhirubhai Ambani and his mother is Kokilaben Ambani. His younger brother is Anil Ambani, another well-known industrialist. He has two sisters Nina Kothari and Deepti Salgaonkar.

During the 1970s, the entire Ambani family stayed at a modest apartment with a couple of bedrooms in Bhuleshwar, Mumbai. Later on, they shifted to Sea Wind in Colaba, a block of 14 flats, which were all owned by the Ambanis. This was where both the Ambani brothers lived along with their families.

Ambani is currently married to Nita Ambani. They have one daughter Isha and two sons Akash and Anant. They are currently staying at Antilla, which has 27 storeys. The house is worth a billion dollars and is said to be the worlds costliest home.

Mukesh Ambani's EducationAmbani was a student at the Hill Grange High School, which is located at Peddar Road. This was where he met Anand Jain, who would go on to become a close associate in the future. Ambani obtained a Bachelor of Engineering in chemical engineering from the Institute of Chemical Technology, Matunga, under the University of Bombay. After that, he attended Stanford University for an MBA programme but did not complete his education over there as he wanted to join Reliance, which was then a small yet quickly growing enterprise.

Career of Mukesh Ambani

It was in 1981 that Mukesh Ambani joined the family business. It was Dhirubhai Ambani who had started Reliance. Mukesh Ambani started the expansion of the companys activities from just textiles to areas as diverse as polyester fibres, petroleum refining and petrochemicals. Very soon, he moved on to oil and production and exploration of natural gas

Later on, he also started the Reliance Infocomm Limited, which was rebranded as Reliance Communications Limited. It focused primarily on communications and information technology programmes. At present, Reliance Industries Limited also has the rights to the natural gas obtained in the Krishna-Godavari Basin. Ambani is also looking at expanding the 4G broadband wireless and retail services offered by Reliance with a view to become one of the top 50 companies of the world.

The petroleum refinery started by Ambani at Jamnagar can produce 660 thousand barrels of oil in a day.-Mukesh Ambani's Awards and RecognitionOver his illustrious life, Ambani has received a number of awards. He received the Ernst & Young Entrepreneur of the Year award from Ernst & Young India in 2000. In 2010, he was awarded the Global Vision Award at The Awards Dinner by Asia Society.

In the same year, he was also conferred the Business Leader of the Year by NDTV India and Businessman of the Year by Financial Chronicle. The University of Pennsylvania bestowed on him the School of Engineering and Applied Science Deans Medal in 2010 and the Business Council for International Understanding gave him the Global Leadership Award in 2010.

The MS University of Baroda has also awarded him an honorary Doctor of Science degree in 2010. The Harvard Business Review has also ranked him the fifth best performing CEO of the world among the top 50 CEOs of the world.

Last Updated on May 13, 2015Born:April 19, 1957Achievement:Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company; Chosen as ET Business Leader of the Year 2006; Ranked 42nd among the World's Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by PricewaterhouseCoopers and published in Financial Times, London, November 2004.Mukesh Ambani is the face of new emerging India. He is the Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company.Mukesh Ambani was born on April 19, 1957 in Mumbai. His father Dhirubhai Ambani was then a small businessman who later on rose to become one of the legends of Indian industry. Mukesh Ambani did his Bachelors in Chemical Engineering from University of Bombay and Masters in Business Administration from Stanford University, USA.Mukesh Ambani joined Reliance in 1981 and was the brain behind Reliance's backward integration from textiles into polyester fibres and further into petrochemicalWorld's largest grassroots petroleum refinery at Jamnagar is the brainchild of Mukesh Ambani. He was also the incharge of Dhirubhai's dream project Reliance Infocomm. But after the split in the Reliance Empire, Reliance Infocomm went to his brother Anil Ambani. Mukesh Ambani is now planning to enter retail sector in a big way. He has plans to establish big retail stores all over the country. Recently, he also entered into an agreement with Haryana Government to establish a Special Economic Zone (SEZ) with an investment running into thousands of crores.mukesh Ambani has many achievements and honours to his name. Mukesh Ambani was chosen as the ET Business leader of the Year 2006. He was ranked 42nd among the World's Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by PricewaterhouseCoopers and published in Financial Times, London, November 2004. He was conferred the World Communication Award for the Most Influential Person in Telecommunications in 2004 by Total Telecom, October, 2004. Mukesh Ambani was also conferred the Asia Society Leadership Award by the Asia Society, Washington D.C., USA,Read How Mukesh Dhirubhai Ambani become a legendThe richest person in India and MD and chairman of Reliance Industries, the largest Indian private sector enterprise, Mukesh Dhirubhai Ambani is a worthy example of business tycoons carrying forward legacy.The elder son of Legendary business leader late Dhirubhai Ambani, he has played a pivotal role in takingReliance Industries Limitedto zenith of success in his illustrious career. Despite the steep competition from rival tycoons like Tatas and Birlas and allegations of business malpractice, Mukesh Ambani continues his success in various spheres of business.Along with the tremendous growth of his Fortune Global 500company, Mukesh Ambani has often hogged headlines for his lavish lifestyle and diversification into other industries. Located in South Mumbai, his skyscraper home Antiliahas been rated as the worlds costliest residential property by prestigious Forbes Magazine. He held the position of the richest Indian for 6 years.

After attaining a Chemical Engineering degree, Mukesh Ambani enrolled for a management degree under the Stanford University. However, owing to his fathers failing health and plan to grow in PFY sector, he returned to India and joined Reliance Industries, leaving the course midway. It was in 1981 that marked the beginning of his rise as a worthy successor to a legendary business legacy.After joining the business, Mukesh Ambani played a pivotal role in growing the business legacy and diversified into new sectors. Under his leadership, Reliance Industries made a foray into sectors like petroleum refining, petrochemicals and gas exploration. He also set up Reliance Infocomm Limited (presentlyReliance Communications Limited).In 2010, Mukesh Ambani set up the biggest grassroots petroleum refinery plant in Jamnagar. With his initiative, manufacturing capacity of Reliance's Petrochemicals has grown substantially as per industry sources. The company has also become a leading player in the retail sector, under his leadership and endeavors.In his successful anviable business career, Mukesh Ambani has gone through some turbulent times, too. His rift with sibling Anil Ambani, another business tycoon and chairman of Reliance ADA Group, hogged media attention post the demise of their father. In recent times, the NDA government slammed a $579million fine on RIL for gas production shortfall

Mukesh Ambani faced hurdles in the form of business malpractice allegations too. His detractors, including AAP founder Arvind Kejriwal accused him of interfering in the governance of the country. RIL as well as Mukesh Ambani himself have denied the allegations strongly. The company has also resorted to legal actions over the controversy.The numerous acquisitions made by RIL, the acknowledgement from leading business entities, and his firm hold on the throne of Indias richest person has not made Mukesh Ambani complacent. Reliance Jio Infocomm, his telecom arm is all set to roll out 4G services in alliance with his sibling Anil Ambanis company.Mukesh Ambani announced a few months back that Reliance Jio Infocomm will launch 4G services in commercial capacity in 2015, incurring a whopping 70,000 crore investment in India. It will use the pan-India BWA spectrum for the 4G service rollout, which will cover almost 90 per cent of urban regions and more than 215,000 villages. It is being deemed as an aggressive move by industry analysts at a time when telecom companies are vying for 4G dominance.AErnst& Young Entrepreneur ofthe Year in2000 United States-India Business Council Leadership Award in2007Global Leadership Award (BCIU) in2010Entrepreneur of the Decade (AIMA) in2013Net Worth ofMukesh Dhirubhai Ambani is$23.2 Billion10 Surprising Facts About Indias Richest Family The Ambanis

Mukesh Ambaniis Indias richest man. According to Forbes magazine, Mukesh Ambanihas an estimated net worth of 22.6 billion dollars.TheAmbani familyconsists of Mukesh, his wife Nita and their three childrenAkash, Isha and Anant. A number of interesting stories and facts are connected to the richest Indian family. Here are 10 interesting things you may not know aboutthe wealthiest family inindia

Ambanis new house is called Antiliaand according to a number of reputable publications, it is the most expensive home in the world. Antilia is actually the first house to exceed a net worth of one billion dollars.Antiliawas built in downtown Mumbai, a city that is known for its exceptional poverty. The 60-storey house has a garage for 168 cars, an independent health club for each family member, a cinema and a staff of 600 people. Anant Ambanis Sacred White Elephant

Anant Ambani, the 17-year old son of Indias richest man, is exceptionally spiritual. Numerous reports state thatAnant Ambaniis visiting theLord Balaji templeas frequently, as possible.To prove his faith, the affluent teenager decided to make a special donation for the temple.Anant Ambaniended up providing a sacred white elephant as a special present to Lord Balaji.The Importance of the FamilyIn 2009,Nita and Mukesh Ambanicelebrated 25 years of marriage. Mukesh has often stated in interviews that his family is of exceptional importance. No matter how busy his schedule is, Mukesh spends Sundays with his mother, wife and children.The manner in which the Ambani family is decorated is also strongly evident of the family ties. A family photo or a photo of Mukesh Ambanis father is available in each of the houses rooms Special Birthday Presents

Mukesh Ambanihates celebrating his birthday. The only exception he has ever made was on the occasion of his 50th birthday.On the other hand, Mukesh loves showering family members with love and affection. On the occasion of one of her birthdays,Nita Ambani received a jet plane worth 62 million dollars.A Family of Billionaires

Indias richest man has one brother, Anil.Anil Ambaniis one of the other wealthiest individuals in India. Prior to their fathers death, the two brothers worked together. They eventually entered a dispute about the company, which led to the separation of their business activities.Word is that they have crushed their problems and have found some sort of middle ground once again.Philanthropic Activities

Nita Ambaniis involved in a number of philanthropic activities and charity projects. The areas that she is mostly active in include disaster relief, education and proper human resources management.Nita had always wanted to be a dancer, but she instead holds degrees in interior design and teaching. Today, she is the chairperson ofDhirubhari Ambani International School.Its a Rich Mans World

Despite the fact he is the wealthiest individual in India, Mukesh is known for his modest behavior. He enjoys traditional Indian dishes and he is a vegetarian. The family can be spotted in some of the countrys little and less pretentious restaurants that serve traditional cuisine.In addition,Mukesh Ambanihas absolutely no knowledge of fashion brands. He says that he is willing to wear anything that feels comfortable.The Youngest Billionaire Heiress

Isha Ambani, the daughter ofMukesh and Nita, and is the youngest billionaire heiress. Isha, who was only 16 at the time, ranked second in the Forbes list of top ten billionaire heiresses in 2008. At that tender age, Isha was the owner of an 80-million dollar share of Reliance Industries.Currently,Isha Ambaniis a student at Yale. Her majors are South Asian Studies and Psychology.Mukesh Ambanis AwardsMukesh Ambaniholds a number of awards and records. Fortune magazine gave him the 13th place in a ranking of Asias Most Powerful People in Business.In 2012, he was included in a list of the most powerful Digital Indians. Harvard Business Review gave Mukesh the fifth spot in a ranking of the best performing CEOs in the world.Like Father, Like Son

Akash Ambaniis the familys oldest son. He is the twin brother of Isha and the elder brother ofAnant Ambani.According to numerous reports, Akash has attended the signing of several important Reliance Industries deals. His participation in such affairs is seen as his fathers attempt to get Akash ready for involvement in the family business.