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Business News›Magazines›Panache›Panache People 101›Mukesh Ambani
    Mukesh Ambani

    Mukesh Ambani

    Chairman & Managing Director, Reliance Industries Limited
    Birth DetailsApril 19, 1957 | Aden, Yemen
    NationalityIndian
    LeagueBusiness Leader
    EducationChemical Engineering, Institute of Chemical Technology, Mumbai; MBA, Stanford University (dropout)
    Net Worth$56.7 billion (as of June 3, 2020)
    Mukesh Ambani Assets:

    Mukesh Ambani's Journey so far ...
    • Mukesh Ambani left his studies mid-way and returned to India in 1981 to help his father Dhirubhai Ambani with the family business
    • After taking charge, he led the company’s backward integration endeavours which started with the movement from textiles to polyester fibre manufacturing. He oversaw the development of Reliance’s first mega manufacturing plant at Patalganga (in Maharashtra)
    • In 1986, he diversified the company’s interests into petrochemicals, and later to petroleum refining and oil & gas exploration and production
    • Over the next few years, he pioneered the establishment of several world-class manufacturing facilities for Reliance Petrochemicals, increasing its manufacturing capacity from less than a million tonnes to more than 21 million tonnes per year
    • Reliance’s Jamnagar refinery (in Gujarat) -- which became the world’s largest grassroots petroleum refinery with a capacity of 6,60,000 barrels per day -- was also built under Mukesh Ambani’s leadership. Commissioned in 1999, the plant was integrated with other business subsidiaries such as petrochemicals and power generation
    • A subsequent refinery -- with a capacity of 5,80,000 barrels per day -- was built beside the Jamnagar facility, taking the overall capacity of the oil refinery to 1.24 million barrels per day and making it one of the world’s largest single-location refineries
    • Dhirubhai Ambani passed away in 2002 without having left a will in place, and by that time Reliance had spread its reach into several established as well as emerging sectors. This led to a bitter dispute between Mukesh and his younger brother Anil which ended in 2005 with the former inheriting the company’s flagship oil-refining and petrochemicals businesses
    • In October 2007, with a net worth of $63.2 billion, he surpassed Bill Gates to claim the title of the richest person in the world. Though this title didn’t last long, he has been India’s wealthiest person for a long time now
    • He bought the Indian Premier League (IPL) team Mumbai Indians for over $100 million in 2008
    • Under his leadership, RIL further ventured into various sectors. With several in-store brands and other partnerships, Reliance Retail became the largest retailer of the country in terms of revenue in 2014
    • The same year, RIL acquired Network 18 Media and Investments Ltd which has a host of news and entertainment TV channels among other media initiatives
    • He took India by storm when he introduced Jio telecom services in September 2016. Offering free calls and dirt cheap data, the network acquired 100 million customers within 170 days of its launch. By 2019, Jio had sprinted to become the country’s second-largest telecom service provider
    • On his watch, RIL’s market cap crossed the Rs 10 lakh crore mark in November 2019, making it the first Indian company to achieve the feat
    • Currently, Mukesh Ambani, along with his family, owns around 47% shares of Reliance Industries. He continues to be India’s richest person

    Before you go ...
    Last Updated: 15/02/2021

    Mukesh Ambani News

    • Did you know the Ambanis and Kareena Kapoor Khan have a unique connection? Lalita Dsilva, who gained fame as the nanny for Kareena's son Taimur, was previously the nanny for Mukesh Ambani's younger son, Anant. On the occasion of 29-year-old Anant Ambani's wedding, Lalita D'Silva shared a throwback picture from their trip to Disney World Paris, along with snapshots from his lavish wedding reception.
    • At the grand Shubh Aashirwad function for Anant Ambani and Radhika Merchant, Isha Ambani captivated everyone with her exquisite attire, designed by the renowned Manish Malhotra. Check all seven dresses by Manish Malhotra: ​
    • Anupam Mittal suggests televising the Ambani wedding on JioCinema, sparking online frenzy. Could it rival IPL ratings? His playful remarks and candid opinions continue to stir the pot. As Shark Tank India prepares for season four, Mittal keeps audiences buzzing with his intriguing posts.
    • The Shubh Ashirwad ceremony in Mumbai for Anant Ambani and Radhika Merchant united leaders Modi, Kovind, Kamal Nath, Digvijaya Singh, Ramesh Bais, Eknath Shinde, Devendra Fadnavis, Ajit Pawar, N. Chandrababu Naidu, Pawan Kalyan, Chirag Paswan, Reena Paswan, Akhilesh Yadav, Tony Blair, and Gianni Infantino in warmth and tradition, showcasing camaraderie.
    • A video showed the newlyweds, Anant Ambani and Radhika Merchant, walking slowly with Mukesh Ambani, the groom's father, standing beside them. The emotional bride greeted someone who handed her a silver lamp. Netizens applauded the billionaire for his open display of emotions and dedication to his family.
    • Indian cricket star Hardik Pandya was seen enjoying himself at Anant Ambani and Radhika Merchant's wedding, where he was captured on video ordering two tequila shots. The video quickly went viral on social media, with users finding it both amusing and entertaining. Pandya, who attended the event without his wife Natasa Stankovic, received a warm welcome from Nita Ambani and was praised for his resilience and contributions to the Mumbai Indians team.
    • Modi arrived at the Ambani family-owned Jio World Convention Centre here for a wedding reception that has been titled 'Shubh Aashirwad'. Anant, the youngest son of Mukesh Ambani -- Asia's richest man -- and Radhika, a pharmaceutical heiress, touched Modi's feet to seek his blessings.
    • Anant Ambani and Radhika Merchant's wedding Aashirwad ceremony included Shankaracharya of Dwarka Peeth, Swami Avimukteshwaranand, and Swami Sadananda Saraswati. Mukesh and Nita Ambani welcomed and received blessings. The presence of these religious leaders elevated the occasion, reflecting the family's unwavering faith and dedication to preserving spiritual values, guiding their journey towards happiness.
    • Sabyasachi's absence at the high-profile Ambani wedding raises questions due to corporate connections and strategic investments in the fashion industry. The event sheds light on the evolving landscape where business interests intersect with high fashion.
    • Anant Ambani, the youngest son of Mukesh and Nita Ambani, married his childhood sweetheart Radhika Merchant in a grand ceremony at the Jio World Convention Centre in Mumbai. The Ambani family, dressed in elegant pastel hues, posed for photos before the festivities began. Nita Ambani dazzled in a custom-made 'Ranghaat' ghagra by Abu Jani Sandeep Khosla, while Mukesh Ambani wore a pink sherwani. Groom Anant Ambani looked regal in a golden sherwani.
    • Anant Ambani and Radhika Merchant are getting married on June 12, but the celebrations started as early as March.
    • Bihar CM's aide Ashok Choudhary criticized Lalu Prasad's family, including Rabri Devi, for attending Anant Ambani's wedding amid their criticism. Tejashwi Yadav confirmed the invitation. Choudhary praised CM Nitish Kumar’s humility at Patna expressway dedication aimed at easing traffic. He referenced corruption cases against RJD leaders, defending Kumar's Bihar growth initiatives.
    • The Kardashian sisters arrived in India on Thursday, July 11, and received a grand welcome at the Taj Mahal Hotel in Mumbai. They were surrounded by paparazzi at the airport as they made their way to the hotel.
    • Anant-Radhika Weddig: The lavish wedding of Anant Ambani, son of Mukesh Ambani, has taken a political turn as posters of Prime Minister Narendra Modi line the venue's road. Despite Modi not initially being on the guest list, he may briefly attend. The opulent four-day celebration has sparked debate on income inequality and environmental impact.
    • RIL Q1 Results Date: RIL's board will meet on July 19 to approve its June quarter results. RIL shares ended at Rs 3,163.50 on the NSE on Thursday, down by Rs 3.40 or 0.11% from the previous closing price.
    • It is in talks with a group of foreign banks for a loan of 12-15 years, people familiar with the matter said, asking not to be identified as the discussions are private. The funds would be raised for Ethane Crystal LLC, a subsidiary of Reliance Ethane Holding Pte., the group’s business of buying ships to transport ethane, they said.
    • Anant Ambani Radhika Merchant Wedding: In Mumbai, Anant Ambani and Radhika Merchant’s Bhandara at Antilia provides nutritious meals daily. This initiative addresses a pressing need and strengthens community bonds. It demonstrates the Ambani family’s philanthropic legacy, focusing on uplifting others and reminding us that true legacy lies in making a significant difference.
    • From the images, a grand and magnificent idol of Lord Shiva is visible. Reliance Industries Chairman and Managing Director Mukesh Ambani is seen participating in the Shiv Shakti Puja ceremony alongside his son Anant and future daughter-in-law. A video posted by the Instagram handle Ambani Updates shows the Shiv idol adorned with a radiant golden crown and sparkling ornaments.
    • The Ambani-Merchant wedding, which began in Jamnagar, Italy, and will conclude in Mumbai, has garnered global attention, but the Ambani family is only spending 0.5 per cent of their net worth on the wedding, according to an analysis by NC Financial Advisory Services' founder Nitin Chaudhary. An Indian with a net worth of Rs 50 lakh to Rs 1 crore would easily spend Rs 10-15 lakh on their child's wedding, and for a person with a net worth of up to Rs 10 crore, the spending might be up to Rs 1.5 crore.
    • Investors anticipate the impending Reliance Jio IPO as billionaire Mukesh Ambani remains tight-lipped. The recent telecom tariff hike is seen as a precursor to this long-awaited event. Jefferies, a global investment banking firm, suggests that the high-profile listing could materialize in 2025, valuing Jio at $112 billion.
    • Nearly a dozen former presidents and prime ministers, alongside top global CEOs and celebrities like Kim Kardashian, are set to attend the wedding festivities of Radhika Merchant and Anant Ambani in Mumbai this weekend. Political heavyweights include Tony Blair, Boris Johnson, and John Kerry, while business moguls like Amin Nasser and Shantanu Narayen will also be present. The celebrations, spanning multiple events including a wedding ceremony and reception, mark the union of Anant Ambani, the youngest son of Mukesh and Nita Ambani, amidst a star-studded guest list from around the world.
    • Mukesh Ambani's representatives presented this invitation card to the temple's priests Acharya Gopi Goswami and Shrinath Goswami and blessings for the couple. Goswami said that they presented the invitation of Anant Ambani's wedding sent by Mukesh Ambani at the feet of Thakurji amid chanting of mantras.
    • The son of Asia's richest person Mukesh Ambani is set to marry his long-time girlfriend Radhika Merchant in Mumbai, marking the culmination of lavish celebrations throughout the year. The wedding is considered a "public event" due to the presence of international and Indian VIPs. Despite Mumbai being notorious for its congested traffic, roads near the venue, the Jio World Convention Centre, will be open only for "event vehicles" between 1 p.m. and midnight July 12-15.
    • Isha Ambani's custom heart-embroidered lehenga, styled by Anaita Shroff Adjania, dazzled at Anant Ambani and Radhika Merchant's Haldi pre-wedding festivities. It featured colorful panels, vertical lines, and a tassel-embroidered blouse. Accessories included jewelry, black bindi, mascara, and loose tresses. Torani's similar lehenga costs Rs 1,35,000. The wedding is on July 12, celebrations continue until July 14.
    • Mukesh Ambani's son, Anant Ambani, is set to marry Viren Merchant's daughter, Radhika Merchant, in a grand ceremony at the Jio World Convention Centre in Mumbai. The wedding festivities will include traditional ceremonies and a star-studded guest list from around the world.
    • Following India's T20 World Cup victory, cricketers Hardik Pandya and MS Dhoni added star power to the pre-wedding sangeet of Anant Ambani and Radhika Merchant. The event, held in Mumbai, featured a blend of cricket and Bollywood celebrities, including Ishan Kishan, KL Rahul with Athiya Shetty, and Shreyas Iyer. Dhoni, accompanied by his wife Sakshi, sported traditional attire, while Pandya made a fashion statement alongside his brother Krunal.
    • Radhika appeared stunning in a mesmerizing purple lehenga adorned with intricate shimmering patterns. Her magnificent six-yard saree featured silver sequinned embroidery throughout, with the lower part adorned by Lord Krishna motifs, which stood out as the focal point of her attire.
    • Mukesh Ambani met Sonia Gandhi at 10 Janpath, inviting her to Anant Ambani and Radhika Merchant's July 12 wedding. The Ambani family began wedding celebrations with a philanthropic 'Samuh Vivah', a mass wedding for 50 underprivileged Palghar couples at Reliance Corporate Park, attended by 800 guests. Nita Ambani emphasized traditional fervour and service to humanity.
    • Reliance Retail Ventures is gearing up to launch Chinese fast-fashion label Shein in India, a year after forming a strategic partnership with the brand. The retailer plans to sell Shein products on its app and offline stores. Former Meta director Manish Chopra may lead Shein's operations in India. Shein aims to reduce dependence on China and leverage India's supply chain. The platform and data will be hosted and controlled by Reliance Retail.
    • Radhika looked stunning as always in a beautifully embroidered lehenga. She accessorised her appearance with traditional jhumkas, maang-teeka, and neckpiece for the pre-wedding. The mameru ceremony is a Gujarati wedding tradition where the maternal uncle (mama) of the bride visits her with sweets and gifts.
    • Morgan Stanley, a global brokerage firm, forecasted that Mukesh Ambani-led Reliance Industries' (RIL) fourth monetisation cycle could potentially increase market capitalisation by $60-100 billion. They set a target price of Rs 3,540 in the base case scenario.
    • Reliance Industries (Ltd) shares surged over 4% to hit a new intra-day high of 3,029 on Wednesday, boosting the benchmark Nifty by 144 points. Despite earlier losses post-election, RIL staged a strong recovery, erasing losses and gaining approximately 2.4%.
    • Nita Ambani recently visited a chaat shop in Varanasi, where she enjoyed local delicacies and reflected on her husband Mukesh Ambani's love for street food. Her visit was part of a spiritual trip to offer prayers at the Kashi Vishwanath temple ahead of their son Anant Ambani's wedding. Nita mentioned that Mukesh would have loved the chaat, highlighting his fondness for Mumbai's Swati Snacks, a favorite among the Ambani family for generations.
    • Reliance Industries' shareholders approved reappointment of Yasir Othman H Al-Rumayyan and appointed Haigreve Khaitan as independent directors. They also reappointed P M S Prasad. The board is led by Mukesh D Ambani and includes his children Isha, Akash, and Anant, along with cousins Hital and Nikhi Meswani.
    • JFS plans to acquire equipment worth 360 billion rupees from Reliance Retail, as the financial services provider plans to enter the device leasing business. Through the deal, JFS' unit - Jio Leasing Services - will buy customer premises equipment, devices and telecom equipment such as routers and cell phones.
    • A 54-year-old Ayurveda doctor from Andheri lost over Rs 7 lakh to a trading scam involving a deepfake video of Mukesh Ambani. Dr. K K H Patil transferred Rs 7.1 lakh, believing in the false endorsement. Similarly, Sandeep Kumar from Greater Noida lost Rs 20.54 lakh in a work-from-home scam. Police have filed FIRs in both cases.
    • Anant Ambani-Radhika Merchant Wedding: A tale of opulence and extravagance unfolds as billionaire Mukesh Ambani held a lavish prewedding celebration for his son, showcasing jaw-dropping jewelry pieces with emeralds the size of Popsicles and rare natural pearls. The event, attended by global elite, offered a glimpse into a world of wealth and luxury reminiscent of a bygone era.
    • Shah Rukh Khan, accompanied by his manager Pooja Dadlani, also created a viral moment by hugging actor Akshay Kumar. Among the other notable celebrities at the Rashtrapati Bhavan were megastar Rajinikanth, Anupam Kher, Anil Kapoor, Raveena Tandon, Vikrant Massey, and Rajkumar Hirani. Khan looked stylish in an all-black outfit, while business mogul Mukesh Ambani chose a simple all-white ensemble.
    • Modi 3.0 Cabinet 2024: Narendra Modi was sworn in as Prime Minister for a third term, forming a 72-member coalition government with ease. Despite lacking a majority, BJP retains key ministries. Allies prioritized state funds over cabinet posts, while former CMs bring experience. Absence of Muslim ministers and the presence of billionaires and Hindu groups signal Modi's continuing strategies.
    • In 2019, Akash Ambani, the elder son of billionaire Mukesh Ambani and Nita Ambani, married Shloka Mehta, daughter of business magnate Russell Mehta and Mona Mehta. Their family grew with the birth of their son, Prithvi, in December 2020, and their daughter, Veda, arrived in June 2023.
    • The Ghanaian government’s plan to launch a 5G network using a company partnering with Mukesh Ambani is a bad deal for the debt-ridden nation, which needs funds for critical development projects, the National Democratic Congress (NDC) said in a statement on Monday.
    • Adani Group joins Tata Group and Mukesh Ambani's Reliance Group in achieving $10 billion annual operating profit in FY24 despite challenges.
    • Billionaire Gautam Adani has reclaimed the title of Asia's richest person, surpassing Mukesh Ambani, with a net worth of $111 billion, compared to Ambani's $109 billion. Adani's rise is attributed to a surge in Adani Group stocks following reports of aggressive expansion plans. The Adani Group added ₹1.23 lakh crore in investor wealth, reaching a market capitalisation of ₹17.94 lakh crore intraday. Adani's fortunes had dipped in 2023 after a sell-off due to a probe into allegations, but the Supreme Court later cleared the group.
    • Ambani's latest fintech business under Jio Financial Servics Ltd (JFSL) aims to ride on extensive consumer network as well the data Reliance has acquired. The tracks that consumers leave while shopping and using Reliance products and services will form a strong databank for JFSL.
    • Reliance Industries Limited (RIL) has been named one of the World's Most Influential Companies by TIME magazine, marking its second appearance in the TIME 100 list. Recognized in the 'Titans' category, Reliance has significantly impacted various sectors in India and beyond, under the leadership of Mukesh Ambani. Key initiatives include Jio Platforms, the world's largest refining complex, Reliance Retail, investments in new energy, and ambitious net zero goals. The inclusion highlights the growing global influence of Indian enterprises.
    • Anant Ambani, son of billionaire Mukesh Ambani, will marry Radhika Merchant on July 12, 2024, at the Jio World Convention Centre in Mumbai. The three-day celebration begins with the "Shubh Vivah" on July 12, followed by the "Shubh Aashirwad" on July 13, and concludes with the "Mangal Utsav" on July 14. The ceremonies will follow traditional Vedic Hindu rituals. The couple is currently enjoying pre-wedding festivities on a French cruise.
    • Reliance Industries (RIL) chairman Mukesh Ambani is expanding the company's retail empire to include quick commerce services through JioMart. This move aims to compete with players like Blinkit and BigBasket, leveraging Reliance's extensive reach and resources. The shift towards quick commerce reflects changing consumer habits, favoring convenience and instant deliveries.
    • Reliance Industries, led by Mukesh Ambani, plans to enter India's quick commerce sector, aiming to compete with Blinkit, BigBasket, Instamart, and Zepto. Initially targeting 7-8 cities, JioMart aims to expand to over 1,000 cities. Unlike rivals, it will leverage Reliance Retail's network instead of dark stores. Goldman Sachs estimates the online grocery market at $11 billion, with quick commerce accounting for $5 billion, possibly affecting kirana store sales.
    • Reliance Industries has signed a one-year deal with Russia's Rosneft to purchase at least 3 million barrels of oil monthly in roubles. This agreement, following President Putin's push for alternative financial systems amid Western sanctions, secures discounted oil for Reliance and underscores India's role as a major buyer of Russian crude.
    • Radisys, a company owned by RIL's subsidiary Jio Platforms Ltd (JPL), is collaborating with Tech Mahindra and Finland's Nokia, to team up with Next-Gen Infrastructure Co. (NGIC). NGIC, in which the Ghanaian government, Ascend Digital, and K-Net have equity stakes, is positioned as the first neutral 5G shared infrastructure provider in Africa. The company's initial focus will be on offering 4G and 5G network support in Ghana before expanding its services across the continent.
    • Reliance Industries Ltd.’s Tira, a new venture in India’s beauty sector, leverages AI for personalized experiences like fragrance selection and skincare analysis. With 12 stores and online presence, Tira competes with Nykaa and Tata Group’s Palette in a rapidly growing market. Reliance's diversification strategy aims for innovation and market dominance.
    • The deal came as the India’s media landscape is going through a major shakeup. Disney signed a binding agreement in late February to combine its India Unit with viacom 18 media pvt, creating an $8.5 billion entertainment giant that will have 750 million viewers and dominate the sector in the world’s populous country.
    • Mukesh and Nita Ambani are set to host a second pre-wedding bash for their son Anant Ambani and Radhika Merchant. Following a grand celebration in Jamnagar, Gujarat, the new festivities will take place on a luxury cruise from Italy to southern France from May 28-30. The guest list includes high-profile celebrities such as Shah Rukh Khan, Salman Khan and Alia Bhatt. Around 800 guests and 600 hospitality staff will attend the event, ensuring a lavish and memorable celebration.
    • As images of the Ambanis exercising their voting rights circulated rapidly across X, numerous internet users lauded the family for their modesty. One observant fan took note of Ambani Sr. carrying his Aadhar card in a transparent polythene bag and commended him for his simplicity. Additionally, some engaged in speculation regarding the political party the family might be supporting.
    • Prime Minister Narendra Modi emphasized the importance of allowing probe agencies to work without interference in the battle against corruption. He cited Congress leader Adhir Ranjan Chowdhury's remarks on not speaking against Adani-Ambani if they send money as validation of his earlier comments. Modi highlighted the ED and CBI's independent functioning in tackling corruption cases.
    • Harsh Goenka recently shared a throwback photo on social media, featuring himself with Mukesh Ambani and Anand Mahindra. The candid moment, captured by journalist Pradeep Chandra, quickly gained popularity, drawing thousands of views and likes. Goenka's humorous caption, highlighting the unique traits of each friend, resonated with users who praised the camaraderie and wit displayed.
    • India is poised to become a 21st-playing a fundamental role in shaping the economic superpower the country will become in the coming decades, according to a CNN report
    • The US entertainment giant, which has signed a merger deal with Mukesh Ambani's Reliance Industries Limited (RIL), has recorded a $1.3 billion non-cash goodwill impairment charge related to the India merger deal, as per a regulatory filing.
    • Vodafone Idea Ltd. plans to secure loans totaling 150 billion rupees ($1.8 billion) from lenders over the next two years. This is part of a larger strategy to raise 250 billion rupees in debt to repay creditors, roll out 5G, and bid for additional spectrum, following a recent $2.2 billion share sale.
    • Billionaire Mukesh Ambani's new financial services firm is set to appoint Kusal Roy, the India country manager of Standard Chartered Plc, as the CEO of one of its units, Jio Finance Ltd. Roy will join the firm in the coming weeks, pending regulatory approval. Jio Financial is expanding its services and talent pool, including hiring KV Kamath as non-executive chairman and Charanjit Attra as chief operating officer.
    • JioCinema Premium Plans: Reliance Jio has launched JioCinema Premium, a new subscription service in India, offering ad-free streaming in up to 4K quality for just Rs 29 per month. The move aims to attract a wider audience, challenge competitors like Netflix and Disney Hotstar, and disrupt the subscription video-on-demand market with affordable pricing. JioCinema's strategic pricing reflects its commitment to democratising premium entertainment, leveraging its distribution network, and catering to the rising demand for quality content. JioCinema's expansive content library, featuring titles from top Hollywood studios, positions it as a key player in the rapidly evolving streaming industry in India.
    • Reliance Latest Update: Mukesh Ambani is expanding Reliance into various aspects of daily life. From soap to mobile phones, Reliance is already a significant part of consumers' routines. Now, with plans to enter the consumer electronics and home appliances segment, Reliance aims to provide a comprehensive experience across all consumption areas. The new brand Wyzr will offer a range of products, including air coolers, televisions, washing machines, and more.
    • Reliance Share Price: RIL shares, which have gained around 14% in the calendar year so far, were trading flat in Tuesday's morning trade but brokerages have increased their targets going up to Rs 3,500-mark.
    • Net profit attributable to the company, India's biggest by value, retreated marginally to Rs 18,951 crore. Analysts expected the country's biggest refiner, telco and retailer to report a bottom-line just shy of Rs 18,000 crore, translating into a decline in excess of 5%.
    • Mukesh Ambani, the chairman and managing director of Reliance, has a penchant for creating humongous businesses with an amazing sweep across the country. While Reliance looks to shape-shift into a decarbonised business empire with a mega green energy and renewables plan, it has already started making waves in its new consumer products business which is being led by his daughter Isha Ambani.
    • Media giant Viacom18, backed by Reliance Industries Ltd., is set to become a powerhouse in India's media and entertainment industry. With a focus on streaming and digital offerings, Viacom18 aims to compete with tech giants like YouTube and Meta Platforms Inc. The company's strategy includes offering ad-supported programming and integrating e-commerce into its platform. Led by media veteran Uday Shankar, Viacom18 is betting big on mobile streaming and digital advertising to drive growth in India's rapidly evolving media landscape.
    • ​The shares of RIL-owned chocolate manufacturer, Lotus Chocolate rallied 14% to hit a 52-week high of Rs 470 on BSE in Tuesday's trade ahead of its Q4 results which are due later today.
    • Elon Musk's visit to India involves discussions on Tesla and Starlink. The competition in India's satcom sector includes major players like Mukesh Ambani's Reliance Jio, Luxembourg's SES, and Amazon's Project Kuiper. The space economy in India shows significant growth potential. Approvals to Elon Musk-owned Starlink for starting satcom services in India are stuck with the communications ministry seeking clarity from the Department for Promotion of Industry & Internal Trade (DPIIT) about mandatory ownership disclosure rules
    • Anil Ambani, once ranked as the sixth richest person globally, faces setbacks as the Supreme Court reverses an Rs 8,000 crore arbitral award in favor of a firm in his group, Reliance Infrastructure. The award, related to a concession agreement with Delhi Metro Rail Corp in 2008, now requires nearly Rs 3,300 crore repayment by Ambani's firm. This development adds to the financial challenges faced by his group amid debt restructuring.
    • This move pitches the infrastructure conglomerate in direct competition with RIL-backed Observer Research Foundation or ORF, a think tank that took shape in 1990. ORF, based in New Delhi, has emerged in recent years as one of India's most high-profile thinktanks.
    • Reliance-Tesla: Tesla is making strides towards entering the Indian automobile market, with talks of a potential joint venture with Mukesh Ambani's Reliance Industries to establish a manufacturing facility. The move aligns with India's push for electric vehicles, with attractive land proposals from states like Maharashtra and Gujarat.
    • Stating that there is a potential for re-rating across multiple verticals of Reliance Industries (RIL), global broking firm Morgan Stanley has taken an overweight stance on the oil-to-retail conglomerate with a price target of Rs 3,046, signaling an upside potential of 2%.
    • In February 2024, Bharti Airtel outpaced Reliance Jio in adding active mobile users, with Airtel gaining 1.51 million users while Jio added 1.18 million. Vodafone Idea lost 1.11 million active users. Airtel's active user base reached 382.6 million, Jio's rose to 426.79 million, and Vi's shrank to 193.85 million.
    • Major investment firms worldwide are seeking the next generation of artificial intelligence (AI) leaders beyond the borders of the United States. Despite the significant rise in the valuation of Nvidia Corp. and a notable increase in a key American semiconductor index, propelled by global enthusiasm for AI, investors are now turning their attention to emerging markets for greater value and a wider array of investment opportunities. Reliance Industries Ltd., led by billionaire Mukesh Ambani, stands out among these emerging players
    • Vodafone Idea (Vi) plans to raise funds via a preferential share issue on April 6, following shareholders' approval of a proposal to raise ₹20,000 crore through equity and equity-linked instruments. The company expects to complete the equity fund raise by the end of June, with promoters expected to infuse around ₹2,000 crore.
    • Bernard Arnault maintains his position as the world's richest person in 2024, with a fortune of $233 billion, driven by LVMH's exceptional performance. His strategic acquisitions and focus on succession planning highlight his visionary leadership. Globally, the number of billionaires has reached a record high, with significant concentrations of wealth in the United States, China, and India. Arnault's continued success underscores his enduring impact on the luxury goods industry and the global economy.
    • Mukesh Ambani, Elon Musk, Jeff bezos and other richest billionaires in the world
    • Forbes' latest '2024 Billionaires List' sees Mukesh Ambani topping as Asia and India's richest individual, with a wealth surge to $116 billion. The roster includes 200 Indian billionaires, up from 169 last year, amassing a combined $954 billion, a 41 percent increase. Gautam Adani follows Ambani, with a net worth of $84 billion. Savitri Jindal remains India's wealthiest woman, with $33.5 billion.
    • Hollywood power couple Jennifer Lopez and Ben Affleck recently purchased a lavish mansion in Los Angeles that was previously owned by Isha Ambani, daughter of Indian business magnate Mukesh Ambani. The mansion, located in Beverly Hills, boasts 12 bedrooms, 24 bathrooms, an indoor pickleball court, gym, salon, spas, and a 155-foot infinity pool, among other luxurious amenities. Isha Ambani spent part of her pregnancy at this mansion in 2022 before selling it to Lopez and Affleck for $61 million.
    • Reliance Industries invested heavily in hydrocarbon and telecom sectors, now transitioning to less capital-intensive projects like retail and new energy ventures. The report forecasts a shift towards higher returns and faster capex turns in the coming years.
    • Mukesh Ambani, the chairman and managing director of Reliance Industries, emphasized the business community's role in shaping India's future. Speaking at an event by the Gems and Jewellery Exports Promotion Council (GJEPC), Ambani praised the industry's achievements, highlighting its potential to boost exports and create jobs. He underscored the need for collaboration between different business communities, pointing to the success of partnerships. Ambani also lauded his daughter-in-law's family for their contributions to the sector.
    • Mukesh Ambani Shares Three Biggest Learnings Of His Life
    • Mahan Energen has agreed to allot 50 million equity shares of Rs 10 face value each to RIL at par, Reliance said in a regulatory filing. “The proposed investment by the company is in compliance with the provisions of the Electricity Rules, 2005,” it said. RIL did not disclose any specific purpose for signing the power purchase agreement.
    • In the first collaboration between rival billionaires, Mukesh Ambani's Reliance Industries has picked up a 26 per cent stake in a Madhya Pradesh power project of Gautam Adani, and signed a pact to use the plants' 500 MW of electricity for captive use.
    • In Bengaluru, houses in the Billionaires' Street (Koramangala), Epsilon Villas or Adarsh Palm Retreat (APR) are owned by the likes of Sachin and Binny Bansal, Flipkart cofounders, and its CEO Kalyan Krishnamurthy along with a few Infosys co-founders and the Raveendrans. The owners of several new-age firms such as Unacademy's Gaurav Munjal, PhonePe's Sameer Nigam, Meesho's Vidit Aatrey, the Zetwerk founders dot the palm tree and Mercedes-lined APR. 'India's CTO' Nandan Nilekani, Wipro owners - the Premjis, and Rahul Dravid also own homes in Koramangala, where property rates have already built a formidable moat of exclusivity.
    • Hurun global rich list: Mumbai has more billionaires than Beijing, New Delhi has 57 billionaires. Who are the billionaires of Mumbai?
    • Mumbai has become Asia's leading billionaire hub, surpassing Beijing for the first time, according to Hurun Research's 2024 Global Rich List. The financial capital of India now has 92 billionaires, edging past Beijing's 91. This places Mumbai third globally in terms of billionaires, with New York leading with 119 and London with 97.
    • It also said that the deal undervalued Disney's Star India assets, leading to a $2 billion impairment. On February 28, Disney and RIL announced the signing of a deal to merge Viacom18 with Star India, which will create the country's biggest media and entertainment business valued at $8.5 billion.
    • Isha ambani education: isha ambani reliance daughter of Mukesh Ambani. Who is Isha Ambani? What does Isha Ambani do?
    • Former Mumbai Police 'encounter specialist' Pradeep Sharma has been sentenced to life imprisonment by the Bombay High Court for his involvement in the fake encounter killing of Ramnarayan Gupta in 2006. This marks the first conviction of police officers in a fake encounter case in India. The court condemned the police officers' misconduct, stating that they had misused their position and emphasized the need to address deaths in police custody. Sharma, known for his efforts against the Mumbai underworld, has faced controversy and was dismissed from service in 2008 but later reinstated.
    • Ambani holi party: Isha Ambani, Shloka Mehta, Radhika Merchant look beautiful in gowns. Ambani Mukesh Isha Ambani holi party.
    • The Ambani family, led by Mukesh Ambani, heads Reliance Industries, a global conglomerate spanning petrochemicals, telecom, and retail. Nita Ambani is acclaimed for philanthropy. Their children, Akash, Isha, and Anant, ensure the family legacy while excelling in diverse domains.
    • Electoral bonds data revealed major donors' name, raising concerns about the relationship between money and politics ahead of the upcoming Lok Sabha elections. The disclosure of anonymous electoral bonds sheds light on hidden transactions and highlights the need for transparency in democratic processes.
    • Isha Ambani lehenga looks: Isha Ambani ethnic looks that set fashion goals. What are some beautiful Isha Ambani pictures? Reliance owner Mukesh Ambani daughter Isha Ambani
    • Paramount Global is set to sell its remaining 13.01% stake in Viacom18 to Reliance Industries for ₹4,286 crore, valuing the Indian media company at around ₹33,000 crore. The transaction is subject to certain customary conditions, including regulatory approvals. The transaction is also subject to the completion of the proposed joint venture involving RIL, Viacom18, and The Walt Disney Company's Star India.
    • Anil Manibhai Naik joined L&T in 1965 as a junior engineer, became chief executive in 1999, chairman in 2003, group chairman in 2017 and chairman emeritus in 2023, handing over the reins to SN Subrahmanyan in September last year. "I am proud that we got a Rs 25,000-crore single order from Saudi Aramco, the world's largest oil producer, to build a refinery in their country," says Naik, recipient of the Economic Times Award for Lifetime Achievement.
    • ​While receiving the award, Ambani thanked Julia Morley, the chairman and CEO of the Miss World Organization, and revealed how she had been guided by the Indian motto of Satyam, Shivam Sundaram.
    • Mounting losses from the Indian sports business and the decline in Disney+ Hotstar's subscribers due to the loss of the Indian Premier League (IPL) digital rights had compelled Disney to consider strategic options for its India business. RIL's Viacom18 will merge into Disney's Star India to create an $8.5 billion media entity. Viacom18 is valued at $4 billion, while Star India is valued between $3-3.5 billion.
    • Radhika merchant reliance dinner party new pics: Radhika merchant pink lehenga look with Nita Ambani, Anant Ambani and Mukesh Ambani.
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