Mukesh Dhirubhai Ambani, the face of new emerging India, is the chairman and managing director (CMD) of Reliance Industries, which is one of India's largest private sector companies, a Fortune 500 group, and one of the world's largest private-sector conglomerates. He is the eldest son of late Reliance Industries founder Dhirubhai Ambani. Mukesh owns a 48 percent interest in Reliance Industries.
Mukesh Ambani Biography : Education
Mukesh was born on April 19, 1957, in Aden, Colony of Aden (now Yemen). He attended Abaay Morischa School in Mumbai and graduated from the UDCT, now Institute of Chemical Technology, in Mumbai with a bachelor's degree in Chemical Engineering. Later, he enrolled at Stanford University for an MBA program but dropped out in 1980.
Mukesh Ambani & Reliance Industries
In early 1980, during the reign of Indira Gandhi, the doors of PFY (Polyester Filament Yarn) manufacturing were opened to the private sector. Dhirubhai's father had applied for a license to start PFY, and despite strong competition from the Tatas, Birlas, and 43 other families, Dhirubhai was granted the license. Mukesh dropped out of college to help his father develop the PFY factory, which began Reliance's backward integration from textiles into polyester fibers, petrochemicals, petroleum refining, and upstream into oil and gas exploration and production in 1981.
Mukesh has not only taken over the reins and responsibilities of Reliance Industries Limited but has also been pivotal in making the business a global corporation, following in his father's footsteps of "dare to dream and learn to succeed." In the form of Reliance Infocomm Limited, he founded one of the world's largest and most complex information and communications technology initiatives (now Reliance Communications Limited).
He guided and led the construction of the world's largest grassroots petroleum refinery in Jamnagar, India, with a current capacity of 660,000 barrels per day (33 million tonnes per year) and integrated petrochemicals, power generation, port, and related infrastructure. He refused to resort to business fads or government pressure, opting instead to develop greenfield assets that generate 20% returns on investment rather than investing in overseas acquisitions.
Mukesh, an oracular thinker and optimist futurist at heart, is optimistic about the Indian economy's capabilities and prospects. India's economic success, he believes, would be driven by "inclusive" growth and "value addition."
Mukesh Ambani – World’s Richest Man
Mukesh's major "power moment" occurred in 2007, when a quick rally in the Indian stock market and the strengthening of the Indian rupee increased the market capitalization of Reliance group firms, briefly making him the world's richest man. According to Forbes Magazine, he is expected to reclaim the title of "world's wealthiest man" in 2014. Within a month of taking office, he became the first Indian to visit US President Barack Obama.
After his split from Mukesh in 2006, his younger brother Anil Ambani formed the Reliance Anil Dhirubhai Ambani Group (ADAG), which competes with Mukesh.
Mukesh Ambani Achievements
Mukesh Ambani has been recognized as one of the world's most admired business leaders and has received several awards in recognition of his leadership abilities. The University of Pennsylvania awarded him the Dean's Medal in the School of Engineering and Applied Science in 2010. In 2007, he received the United States-India Business Council Leadership Award from the US-India Business Council. In the same year, the Gujarat government honored him with the Chitralekha Person of the Year Award. In 2004, Total Telecom presented him with the World Communication Prize.
Mukesh is a member of the board of directors of Bank of America Corporation and the international advisory board of the Council on Foreign Relations, in addition to being the president of the conglomerate empire. He previously served as the Chairman of the Indian Institute of Management in Bangalore (IIM-B). He is an Honorary Fellow of the Institute of Chemical Engineers (IChemE) (the Institution of Chemical Engineers)
He also owns the Mumbai Indians of the Indian Premier League, and his private 27-story hotel, Antilia, in Mumbai has made headlines. It is believed to be the most expensive home in history, with a construction cost of over USD1 billion.
Mukesh Ambani is the face of modern Indian industry, representing a bold picture of an urbane, developing, and innovative Indian business market. He will always be regarded as the business guru and the idol of every young Indian who aspires to emulate his achievements and make a name for him in the corporate world.
Mukesh Ambani Biography – Rules for Success
Now that we have discussed the achievements and accomplishments of Mr. Mukesh Ambani but here the question arises is what makes him different from the other entrepreneurs? How and why is he so successful? It was his vision and capacity to take forward his father's legacy.
Here Are 9 Rules to Success from Mr. Mukesh Ambani-
- Be courageous - The first lesson is about having courage. Without courage, no one has ever accomplished something significant in business or life. Of course, if you do something significant, you will be a little nervous, but you must overcome your anxiety to find the secret hero inside you. You can overcome any adversity with confidence, self-belief, and a can-do attitude.
- Find and solve the problem- The second thing I found is that as an entrepreneur, it's important to identify an issue that you are passionate about and want to solve. Professor Sharma at the University Department of Chemical Technology (UDCT) (now Institute of Chemical Technology (ICT)) was a blessing in my life. He would always say, "I'm not going to send you a list of problems and then tell you to go work on anything; you find a problem, and then I'll grade you on the nature of the problem you find and the quality of the solution you do." So, for an entrepreneur, the same principles apply: it's not about solving problems; it's about discovering problems.
- Work hard - Put your running shoes on, but keep in mind that personal and professional achievement is a marathon, not a sprint. We are fortunate to live in a diverse world where anything is possible, but it is important to note that there are no overnight successes; you must be committed, single-minded, and hard work is the only way to succeed.
- Serve a higher purpose - My father was a firm believer that any company that exists solely to make money is unworthy of being pursued; rather, it must serve a greater societal function. RIL got all of its funding from capital markets and individual small shareholders, so we've made a million millionaires out of ordinary Indians just by investing in RIL, and that's how wealth is generated for the country. When you build opportunity, money follows.
- Accept Failure - Failure is unavoidable. With all of the progress that one sees, people, including myself, don't realize how many times I struggled before succeeding; they are just a step ahead of me. So, don't be discouraged by setbacks; learn from them but never give up.
- Ignore the naysayers - Put on your headphones, fill your ears and minds with songs of hope, and block out the skeptics and cynics, the naysayers - those who claim it can't be achieved - as noise cancellation. Dance to your beat and take some chances in life because it is always the risk-taker who alters history, innovates, creates something the world truly requires and contributes to the well-being of millions of people.
- Feel empathy - Empathy entails caring for and connecting with others in our organization, as well as the rest of the world; the more we care, the more we develop as people. I think of empathy as 'Dil Ki Daulat,' or heart wealth; the more you spend it on others, the wealthier you become.
- Make memories - I think this whole business of making memories - it's such a simple statement, but I think it's profound in saying that, especially now that papa is gone, and the only thing we have of him are his memories, which we treasure.
- Always be an optimist - An entrepreneur is an optimist who is always optimistic. There are many cynics and pessimistic people in the world, but an entrepreneur spreads positive energy, which is just what I've learned.
In both his professional and personal lives, he had seen many highs and lows. After the tragic death of their father due to a stroke, relations with his younger brother Anil Ambani (another business tycoon and chairman of Reliance ADA Groups) have deteriorated. Mukesh Ambani also suffered a big setback when the NDA (National Democratic Alliance) government slapped Reliance Petroleum Industry with a $579 million fine.
Like any other businessman, Mr. Mukesh Ambani has suffered a loss in business, but it was his strong will and visionary mind with courage that has kept him going, making him India's richest man.