Ambani Mukesh (Mukesh Ambani)

Ambani Mukesh (Mukesh Ambani)

Biography

Mukesh_Ambani - Chairman of the Board, Executive Director of Reliance Industries.

2002: Appointment as Chairman of the Board of Reliance Industries after the death of his father

Mukesh Ambani became chairman of the board of Indian Reliance Industries in 2002, when his father, the founder of the company, died.

In the early 2010s, Ambani predicted that India's economy would grow from $1.4 trillion in 2011 to $30 trillion by 2030. This is a rather optimistic forecast, given the fact that the country's GDP in 2014 is $2.2 trillion.

2015: India's richest man with a fortune of $23 billion

As of 2015, Reliance Industries generated $61 billion in annual sales. Its interests lie in the fields of energy, petrochemicals, natural resource development, the textile industry, retail sales and telecommunications.

For 2015, Ambani is the richest man in India, his fortune exceeds $23 billion. He owns a 27-story mansion in Mumbai, the construction of which required $1 billion.

2019: Free 4K TV distribution

In early September 2019, Asia's richest man, billionaire Mukesh Ambani, began distributing 4K TVs in exchange for users' subscriptions. Thus, the tycoon is trying to penetrate the business, clogged by competing mobile operators and streaming services like Netflix and Amazon, and lure their audience.

The fact is that the broadband service JioFiber owned by Ambani began broadcasting throughout India. At the same time, his company Reliance Jio Infocomm offers free high-resolution TVs and set-top boxes to anyone who buys a subscription to most streaming services of premium service at a price of 700 rupees (about $10) per month. JioFiber will also offer subscribers a number of new films on the same day that their rental begins in cinemas.

Ambani used a similar tactic of luring users from competitors earlier - his service with free calls and cheap access to data attracted hundreds of millions of subscribers who had previously used the services of Bharti Airtel and Vodafone Idea. In the summer of 2019, the media mogul company became the No. 1 player in the Indian wireless services market. Another company, Airtel, is trying to attract users in a similar way by offering free trial access to television and film content.

Carriers around the world are adding entertainment content to their offerings to attract as many users as possible. According to forecasts of the Boston Consulting Group (BCG), by 2023 this market could grow from $500 million to $5 billion. The boom in streaming television has pushed Bollywood producers to mass create content that should meet user demand for television shows and films.

It is assumed that the number of users by 2023 will reach 600 million, and their monthly fee will bring owners up to $50 million.^[1]

2020: 6th richest person in the world with a fortune of $72.4 billion

On July 15, 2020, Mukesh Ambani, India's richest man, overtook Elon Musk, Sergey Brin and Larry Page and became the sixth richest person in the world.

The fortune of the chairman of Reliance Industries Ltd., is now estimated at $72.4 billion, according to the Bloomberg Billionaires Index.

The conglomerate's stock more than doubled in price after its digital division received billions of investments from companies such as Facebook, Silver Lake and Qualcomm.

The second most populous country in the world has faced a surge in foreign interest in its economy, especially from Silicon Valley, Google said that in the coming years it will spend $10 billion to help accelerate the introduction of digital technologies in the country.

After the fall of shares, Page's fortune at that time is $71.6 billion, Brina - $69.4 billion, Mask - $68.6 billion.

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