Mukesh Ambani

June 17, 2007 at 7:22 pm Leave a comment

He is the richest man in India, with a net worth of $20 Billion. He is the chairman, managing director and the largest shareholder of Reliance Industries, India’s largest private sector company. He is Mukesh Ambani. Since splitting with younger brother Anil in 2005 and taking control of $20 billion (revenues) Reliance Industries, founded by his late father Dhirubhai Ambani, his fortune has soared by $11 billion. Reliance Petroleum, the oil refining subsidiary of Reliance, in which Chevron has 5% stake, listed on May 2006. Betting $5.5 billion on retail ventures including Reliance Fresh, a chain of food stores; 60 are now open. Megaplans include $10 billion investment to develop special economic zones. Recently got board approval to hike personal stake in Reliance Industries from 44% to 48%.