Who is the head of the most valuable company in Terms of Market Capitalization in India? From india’s top business tycoons to even a tea seller in Dharavi, the answer is clear, ‘Reliance Chairman and Managing Director Mukesh Ambani.’ Five decades ago, Dhirubhai Ambani had started a small business with a thousand rupees, a table and a chair. Then it spread and became a tree called Reliance Industries.
The businessman’s eldest son, who had made sure that all the steps were subtle and successful, was a follower of his father’s business and a good wizard. Yes, how can we describe the man who has possessed the magic of business? Mukesh Ambani is the subject of discussion in the industry during this coronation.
Ambani is now the fifth in forbes real-time billionaires list with a fortune of $88.9 billion, or about Rs 6,53,237 crore. Moreover, Mukesh Ambani, the world’s fifth richest man, is now behind Facebook’s Mark Zuckerberg, who is valued at $98 billion on the Forbes real-time billionaire list.
Not only was Ambani’s success so, but ril’s boss had a time when he overtook Microsoft co-founder Bill Gates and became the richest man in the world. In October 2007, Mukesh Ambani topped the global rich list, surpassing tech giant Bill Gates, Mexican business magnet Carlos Slim Helu and billionaire investor Warren Buffett at Berkshire Hathaway. Ambani’s wealth, worth $63.2 billion in 2007, rose to more than $25 billion over 13 years.
The world also faced a global recession during this period. Mukesh Ambani still named Dhirubhai Ambani and remained on the list of the richest people in the world. It was a matter of wealth, even if Mukesh Ambani had no rivals in Asia and Europe. Foreign investment into Jio Platforms, the digital arm of Reliance, has made Reliance Industries a debt-free company.
Mukesh Ambani had promised shareholders in August 2019 that he would settle all liabilities before March 2021. The world also saw a recent surge in share prices when Mukesh Ambani announced that he had kept his promise. Reliance Industries Ltd. became the first such company in India to reach $200 billion in market capitalization.