Rich Dudes│How Indian Billionaire Mukesh Ambani Built a $86.5B Net Worth
Mukesh Ambani became one of the world's richest people with a net worth of $86.5 billion with investments in ventures like Reliance Industries and Jio. Here’s what else is in his portfolio.
Updated Mar 21, 2023
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Mukesh Dhirubhai Ambani is an Indian businessman with a net worth that could fund a small country. He's worth over $86.5 billion, making him one of the richest people in the world.
Ambani made his fortune primarily through his majority stake in Reliance Industries, a conglomerate with interests in everything from energy and petrochemicals to textiles and telecommunications.
Ambani has also dipped his toes into the tech and e-commerce sectors in recent years, with big plans to make Reliance Industries a major player in India's digital economy.
And let's not forget about Jio, Ambani's low-cost mobile data network that took the telecom sector by storm and quickly became the largest mobile network operator in India with over 400 million subscribers.
But don't think all that money has gone to Ambani's head—he's also known for his philanthropic efforts, including the establishment of the Reliance Foundation, which supports initiatives in healthcare, education, and disaster relief.
Ambani owns Antilia, a 27-story skyscraper in Mumbai worth over $4.6 billion.
And despite his wealth, Ambani is apparently quite frugal, opting to live in a relatively modest 27-story house in Mumbai instead of a sprawling mansion.
Mukesh Ambani net worth at a glance
April 19, 1957
Indian born in Aden, Yemen
Entrepreneur, industrialist, chairman and managing director of Reliance Industries
Sources of wealth
Reliance Industries Limited, Mumbai Indians, Network18 Media & Investments Limited, Just Dial, Reliance Foundation.
Real estate, startups, stocks
How Mukesh Ambani made his money
How Mukesh Ambani made his money
Mukesh Ambani didn't just wake up one day and become Asia's richest person. It all started back in 1981 when he began helping his father Dhirubhai Ambani run their family business: Reliance Industries Limited.
Reliance Industries Ltd. was already in the game, expanding into petrochemical refinement as well as selling products and services in the retail and telecommunications industries. They weren't messing around—it was in these industries that Ambani's personal wealth began to grow exponentially.
Ambani's company owns the world's largest oil refining complex. That's right, the biggest one on Earth. And with that kind of power, the cash quickly begins flowing in. It goes without saying that Ambani's stake in Reliance Industries comprises the majority of his wealth.
Mukesh retained control of Reliance Industries Limited and Indian Petrochemicals Corporation Limited from his brothers in 2005 following his father’s death.
But it's not just oil and refining that makes Ambani's pockets swell. He's got a residential property worth more than $400 million, and he even owns a professional cricket team.
How Mukesh Ambani invests
How Mukesh Ambani invests
Mukesh Ambani, the Indian business magnate, has invested heavily in the commercial real estate market since the launch of R-SoUL. He plans to invest $9.1 billion in Uttar Pradesh over the next four years.
Additionally, he has financed Indian startups such as Byju's, Infibeam Avenues, and Embibe. His portfolio of companies and businesses includes Reliance Jio, Reliance Retail, Reliance Foundation, and Reliance Life Sciences, which cover a wide range of sectors from apparel and footwear to healthcare and rural development.
Mukesh Ambani's net worth is impressive and can be attributed to his wise investments, but he has also been adding to his collection of high-end luxury cars, which includes a Rolls Royce Phantom and a Maybach 62.
Mukesh Ambani is also into stocks, with significant holdings in several individual public companies. When you hear Mukesh Ambani's name, you think of investments. Here’s a breakdown of Mukesh Ambani's startup investments, stocks, and real estate.
Mukesh Ambani is an Indian billionaire known for his extravagant real estate investments. With the 27-story skyscraper worth over $4.6 billion and a villa in Dubai worth $80 million, he clearly has a soft spot for lavish properties.
Ambani has set up a company for real estate development called Reliance Haryana SEZ Limited. More recently, he's entered the commercial real estate business with the launch of R-SoUL, a subsidiary of Reliance Industries.
He also plans to headhunt top talent for his real estate ventures and has even been eyeing some expensive properties. One of the properties Ambani owns is Antilia, a 27-story skyscraper in Mumbai worth over $4.6 billion. He also owns a property in Palm Jumeirah, Dubai, worth $163 million.
Mukesh Ambani’s property in Mumbai alone has increased in value by ten times in just 10 years. Antilia’s 27 floors include six floors of parking that can fit 168 cars, a 50-seat theater, a swimming pool, a spa, and even a temple among its many amenities. This place is fit for a king—or, in this case, a billionaire.
But Mukesh doesn't stop there, he's also invested in a $90 million residential property in London and a $50 million penthouse in Mumbai. And it's not just residential real estate that he's interested in. Ambani has made significant investments in commercial real estate, too, including a joint venture with Brookfield Asset Management to develop office parks in India.
Mukesh Ambani has invested over $50 million in a number of Indian startups, including Haptik, Netradyne, Embibe, and many others. Ambani's company, Reliance Jio, initially invested $20 billion in the Indian telecom industry. Reliance Industries has also acquired several businesses, including British toy retailer Hamleys and a majority stake in online pharmacy Netmeds.
Ambani's startup investments and acquisitions are all part of his grand plan to transform Reliance Industries into a tech and e-commerce giant. And with investments like $200 million in Dunzo, a hyperlocal delivery startup backed by Google, it seems like he's on the right track.
Mukesh Ambani plans to spend $75 billion dollars over the next 15 years on clean energy projects and is seeking billions of dollars of investments in India's energy sector and has approached potential investors. He’s aiming to own every link of the renewable energy supply chain and disrupt the sector, just like he did in the telecom industry with Reliance Jio.
To do this, Ambani will strategize, oversee the construction of gigafactories and blue hydrogen facilities, assist acquisition targets, and talk to potential investors. He is going head to head with Gautam Adani, a rival billionaire who has committed $70 billion to become the world's largest renewables player.
Ambani's strategic investments have not only helped him diversify his business interests but also stay ahead of the market. And with a recent $132 million investment in Addverb Technologies, a robot maker specializing in warehouse automation, he's not slowing down anytime soon.
Mukesh Ambani, the executive chairman of Reliance communications limited, is laughing all the way to the bank thanks to his investments in Indian startups. He's invested $8 billion in startups like JioMart and Delhivery, and it's paid off big time.
Under his leadership, Reliance Industries has grown 42 times in market capitalization, adding approximately $92 billion in investor wealth over the last 20 years. And it's not just about the money—these startups are expanding too.
Some of them, like Embibe, have seen a 4 times increase in revenue since Ambani’s investment. Mukesh has not only helped position Reliance Industries as a leader in the digital space, but his companies have also created jobs and boosted entrepreneurship in India.
Mukesh Ambani is a stock market savant and his company Reliance Industries has been dishing out index-beating returns for six of the last seven years. Ambani is no small fry, as his stake in Reliance Industries has ballooned to 48.87%.
Ambani likes to stick his fingers in many pies—Reliance Industries is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India. Ambani also owns shares in several financial institutions like HDFC Bank, ICICI Bank, and Axis Bank.
But don't be fooled, Ambani is in it for the long haul. His investments in the stock market are focused on long-term growth rather than short-term gains.
Reliance Industries has diversified its business interests, including oil refineries, oil and gas exploration, retail, and telecommunications. All these strategic investments have made Ambani one of the richest people in the world.
Ambani’s oil refinery business isn’t completely uncontroversial. Amani, his family members, and some Reliance Industries executives were fined the equivalent of $3.36 million by the Indian Federal Government for issuing themselves company stock in secret without notifying other shareholders.
Despite, some regulatory turbulence, Mukesh Ambani's investment in Reliance Industries Limited is like a fairy tale—if fairy tales involved billions of dollars and public markets. With an $86.5 billion net worth, Ambani has arguably been the biggest wealth creator in India.
Reliance Industries Limited's market capitalization has grown by approximately 10 times in the last 10 years, making it one of India's most valuable companies. Investors who bought Reliance Industries Limited shares 30 years ago would have seen a 50,000% return on their investment.
No wonder Ambani holds a 48.87% stake in reliance—he probably thinks it’ll only go up.