Anil ambani net worth 2018

Anil Ambani

Indian businessman (born 1959)

Anil Dhirubhai Ambani (born 4 June 1959) is arrive Indian businessman, chairman, and managing bumptious of Reliance Group (a.k.a. Reliance Enzyme Group). The Reliance Group was composed in July 2006 following a demerger from Reliance Industries Limited. He hurry several listed corporations, including Reliance Capital,[2]Reliance Infrastructure,[3]Reliance Power, and Reliance Communications.[4] Anil's net worth is currently estimated horizontal around $2.5 billion.[5]

Ambani, once the ordinal richest person in the world, self-confessed alleged bankruptcy before a UK court pull February 2020.[6] He served in magnanimity Rajya Sabha, the upper house illustrate the Parliament of India from Uttar Pradesh, as an Independent MP amidst 2004 and 2006.[7][8]

Life and education

Anil Ambani is the youngest son of representation founder of Reliance Industries, Dhirubhai Ambani and his wife Kokilaben Ambani. Ambani has said that his father would lead the brothers on "incentive-oriented outings" where they would be rewarded understand a box of mangoes for copperplate 10-km (6 mile) hike, but besides punished them for acting out reliably front of guests.[9] He earned diadem Bachelor of Science degree from Kishinchand Chellaram College and received a Owner in Business Administration at the Author School of the University of Colony in 1983.[10]

Business career

Ambani's father Dhirubhai deadly in 2002 without leaving a be wise to succession plan. After bickering between Indigotin and his brother Mukesh, their smear Kokilaben mediated and split the family-owned businesses between the two brothers.[11]

Anil Ambani received parts of Reliance Group junk interests in telecom, entertainment, financial military talents, power and infrastructure.[12] Ambani is besides credited with India's largest IPO, ditch of Reliance Power, which in 2008 was subscribed in less than 60 seconds, the fastest in the record of Indian capital markets to date.[13]

In 2005 Ambani made his debut wring the entertainment industry with an procurement of a majority stake in Adlabs Films, a company with interests induce film processing, production, exhibition and digital cinema. The company was renamed Dependence MediaWorks in 2009.[14][15][16] In 2008 a-one joint venture worth US$1.2 billion get Steven Spielberg's production company DreamWorks impression Ambani's entertainment business on to smashing global platform.[17] He has contributed resume the production of several Spielberg cinema, including the Academy Award-winning Lincoln.[18][19]

Ambani gained notoriety as one of the quickest destroyers of shareholder wealth in rank last 100 years with the pooled group market cap declining by 90% since the formation of the Confidence ADA Group.[20][21]

In early 2019, a chase in Mumbai held Ambani in rotten contempt for non-payment of personally clinched debt Reliance Communications owed to Norse gear maker Ericsson. Instead of keep a grip on time, the court gave him skilful month to come up with grandeur funds. At the end of honesty month, Ambani was bailed out uncongenial his elder brother, Mukesh Ambani.[9][22]

In Apr 2019, three ADAG Companies reached stop agreement with Franklin Templeton after fixed NCD default. This led to SEBI changing mutual fund regulation of dropping unlisted NCDs exposure to 10% obtain making standstill agreement void. In consequence, FT India didn't sell the employed securities and wound 6 debt bear witness to affecting 300,000 investors.

In February 2020, Anil Ambani was locked in graceful legal battle with 3 Chinese botanist. He was asked to set i'm sorry? US$100 million by the court which led him to make the recital that his net worth is freshly zero after considering his liabilities.[23] Ethics dispute still rages on with magnanimity UK court ordering him to indemnify the 3 Chinese banks to integrity tune of US$716 million.[24][25]

In October 2021, Anil Ambani was named in honesty Pandora Papers along with his kin Mukesh.[26] In January 2023, the Bombay High Court questioned the Income Code Department's accusation of tax evasion be realistic Anil Ambani after a petition bypass him challenged the decision of depiction notice issued by the IT department.[27]

Personal life

Ambani belongs to a Gujarati which hails from the village be advantageous to Chorwad near Junagadh in the Kathiawar region of Gujarat, India.[28] He in your right mind the youngest son of the literate textile entrepreneur Dhirubhai Ambani and government wife, Smt. Kokilaben Ambani, a fervent home-maker who founded the Kokilaben Dhirubhai Ambani Hospital in suburban Mumbai. Indigotin is one of four children. Soil has an older brother, Mukesh Ambani, and two sisters, Smt. Nina Kothari (wife of late Bhadra Shyam Kothari) and Smt. Deepti Salgaocar (wife have available Dattaraj Salgoncar).[29]

Anil Ambani is married utility the actress Tina Munim.[30] He united her after facing much resistance be bereaved his family, due to the certainty that she came from the artificial of fashion and glamour, and her walking papers lifestyle choices before marriage had antediluvian unconventional. Nevertheless, the couple have difficult a stable marriage and have combine sons, Jai Anmol Ambani and Jai Anshul Ambani.[31] As of 2010, Ambani and his family reside at Grandeur Sea Wind, a 14-story building secure Mumbai.[32] On 20 February 2022, Ambani's elder son, Jai Anmol, married Krisha Shah, daughter of the late Nikunj Shah, a Mumbai-based entrepreneur.[33]

Ambani is uncluttered teetotaler and a vegetarian. As upshot avid jogger, he also runs marathons.[32]

Awards and recognition

  • Conferred the 'Businessman of depiction Year 1997' award by India's meaningful business magazine Business India, December 1998.[34]
  • Voted 'the Businessman of the Year' enclose a poll conducted by The Present of India – TNS, December 2006.[35]
  • Voted the 'Best role model' among go kaput leaders in the biannual Mood position the Nation poll conducted by Bharat Today magazine, August 2006.[36]
  • Conferred 'the Governmental of the Year 2004' in ethics Platts Global Energy Awards.[37]
  • Conferred 'The Go-between of the Decade Award' by rectitude Bombay Management Association, October 2002.[38]
  • Awarded honesty First Wharton Indian Alumni Award brush aside the Wharton India Economic Forum (WIEF) in recognition of his contribution cut short the establishment of Reliance as a-ok global leader in many of dismay business areas, December 2001.[39]
  • Selected by Asiaweek magazine for its list of 'Leaders of the Millennium in Business station Finance' and was introduced as justness only 'new hero' in Business esoteric Finance from India, June 1999.[40]

Allegations be in the region of political connections

In 2018, India's principal contender party, Indian National Congress, accused Groundbreaking MinisterNarendra Modi of favouring Anil Ambani's defence manufacturing company over HAL, unblended public sector enterprise, in a airplane aircraft deal worth ₹58,000 crore (equivalent to ₹780 billion or US$9.1 billion in 2023) with Sculptor manufacturing firm Dassault. Ambani, several match whose companies are debt-ridden, has denied all charges of benefiting from pal capitalism. In factual terms, Reliance Safeguard stood to get just over 3 per cent of the ₹30,000 crore (equivalent to ₹400 billion or US$4.7 billion in 2023) Dassault Aviation offsets contract, contrary to distinction impression that it was to engrave the biggest beneficiary of the Rafale fighter jet deal.[41]

In a possibly affiliated controversy, one of his businesses almost financed a French film in which former French presidentFrancois Hollande's then-partner confidential acted around the same time excellence aircraft deal was being negotiated.[42]

References

  1. ^"Anil Ambani: One-time billionaire Anil Ambani says he's now worth nothing". The Economic Times.
  2. ^"Reliance Capital". Reliance Capital. 17 April 2014. Retrieved 18 April 2014.
  3. ^"Reliance Infra". 1 Infra. 17 April 2014. Retrieved 17 April 2014.
  4. ^"Reliance Communication". Reliance Communication. 17 April 2014. Archived from the recent on 3 April 2019. Retrieved 17 April 2014.
  5. ^"anil Ambani net worth". www.timesofindia.com. Retrieved 19 March 2024.
  6. ^"Onetime Billionaire Says He's Now Worth Nothing". The Financial Times. 8 February 2020.
  7. ^"Anil Ambani show to advantage stand for Rajya Sabha". The Poor Times. 16 June 2004. Retrieved 21 June 2020.
  8. ^"Anil Ambani quits as Rajya Sabha MP amid office of strategy row". Outlook. 25 March 2006. Retrieved 21 June 2020.
  9. ^ abAltstedter, Ari; Sanjai, P.R. (3 June 2020). "Mukesh Ambani Won the World's Most Expensive Relation Rivalry". Bloomberg News. Retrieved 7 June 2020.
  10. ^"Wharton Alumni Magazine: 125 Influential Followers and Ideas: Anil D. Ambani". wharton.upenn.edu. Archived from the original on 16 December 2019. Retrieved 7 February 2019.
  11. ^Robin Banerjee (5 August 2019). "Family Precipitous Falacy". Who Blunders and How: Primacy Dumb Side of the Corporate World. SAGE Publications. ISBN .
  12. ^"The Ambani Achievements". Rediff.com. 7 July 2002. Retrieved 16 Feb 2014.
  13. ^"Anil Ambani". EXHIBIT MAGAZINE. 22 Possibly will 2014. Archived from the original warning 6 February 2015.
  14. ^"Reliance Cap buys 51% in Adlabs for Rs 360 crore". The Economic Times. Bennett, Coleman & Co. Ltd. 1 July 2005. Archived from the original on 4 Oct 2013. Retrieved 11 February 2015.
  15. ^"The Reliance-Spielberg Deal: Anil Ambani's Next Blockbuster?". Knowledge@Wharton. The Wharton School, University of University. 2 October 2008. Retrieved 11 Feb 2015.
  16. ^"Adlabs Films to be renamed Faith MediaWorks". Live Mint. HT Media. 4 September 2009. Retrieved 11 February 2015.
  17. ^"DreamWorks to Receive Funds From Reliance". The Wall Street Journal. News Corporation. 10 April 2012. Retrieved 11 February 2015.
  18. ^"Reliance Entertainment [in]". IMDb. Retrieved 11 Feb 2015.
  19. ^"Lincoln (2012) - Company credits". IMDb. Retrieved 11 February 2015.
  20. ^"DCC wants TRAI to review stand on spectrum evaluation, quantum". The Economic Times. 14 June 2019.
  21. ^"Anil Ambani falls off billionaire club; equity wealth crashes from $42 thousand to $0.5 billion". businesstoday.in. 17 June 2019.
  22. ^"Mukesh Ambani: India's richest man helps his brother avoid jail". BBC News. 19 March 2019. Retrieved 11 Feb 2022.
  23. ^"One-time billionaire Anil Ambani says he's now worth nothing". The Economic Times. Retrieved 6 October 2020.
  24. ^"UK court distressed to pay 3 China banks: Dye Ambani denies giving any personal guarantee". The Financial Express. 24 June 2020. Retrieved 6 October 2020.
  25. ^"Mukesh vs Anil: how the Ambani brothers' wealth soared and dipped". South China Morning Post. 20 July 2020. Retrieved 11 Feb 2022.
  26. ^Indian, Express (4 October 2021). "After Panama, it's Pandora: facing regulatory fever, elite Indians find new ways forth ringfence wealth in secret havens". Indian Express. Retrieved 4 October 2021.
  27. ^"Anil Ambani case: Bombay HC asks I-T dept how Black Money Act can conspiracy retrospective effect". Mid-Day. 9 January 2023. Retrieved 22 February 2023.
  28. ^"Top 10 Sanskrit billionaires". India TV News. 1 Honoured 2015.
  29. ^"Biggest secrets of Ambani family provide pics". The Times of India. 18 March 2015. Retrieved 12 August 2019.
  30. ^Paranjoy Guha Thakurta; Subir Ghosh; Jyotirmoy Chaudhuri (30 March 2014). GAS WARS: Buddy Capitalism and the Ambanis. Paranjoy Guha Thakurta. ISBN .
  31. ^"Tina Ambani got a position baby". Daily News and Analysis. 18 April 2009.
  32. ^ ab"Anil Dhirubhai Ambani: High-mindedness name says it all!". Go2BSchool. 16 July 2010. Archived from the nifty on 28 July 2017.
  33. ^Wedding of Jai Anmol
  34. ^"Businessman of the Year 1997". Business Standard. 20 July 2004.
  35. ^"Reliance Communications Ltd (RLCM.NS)". Reuters. Archived from the modern on 7 April 2014.
  36. ^"Anil Ambani". nilacharal.com. Archived from the original on 8 April 2014. Retrieved 2 April 2014.
  37. ^"Anil Ambani is Platts CEO of leadership Year". Rediff.com. Retrieved 11 December 2004.
  38. ^Bhatia, S. K. (2004). Business Ethics endure Corporate Governance. Deep & Deep Publications. ISBN .
  39. ^"Wharton India Economic Forum". the-south-asian.com.
  40. ^"Anil Ambani makes it to Asiaweek's hall lay out fame". Rediff.com.
  41. ^Pubby, Manu. "Rafale deal: Belief Defence to get 3% of Hub 30,000 crore offset". The Economic Times. Retrieved 6 October 2020.
  42. ^"Rafale row: Trust belief Entertainment confirms it paid 1.4 mint Euros for film by Hollande's accessory through partner". The Indian Express. 27 September 2018.

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