BUSINESS
Ambani family runs India's most valuable company, Reliance Industries, whose market cap is Rs 16.52 lakh crore.
Mukesh Ambani, Reliance Industries chairman, is the richest man in Asia. His company is India's most valuable company with a market cap of Rs 16.52 lakh crore as of Friday. The Indian billionaire has a real-time net worth of USD 95.1 billion as of December 27, as per Forbes. This is around Rs 812557 crore in Indian rupees. The majority of Ambani's wealth derives from a 42 per cent stake in listed Reliance Industries.
Mukesh Ambani has not taken a salary for the last four financial years. He took this decision during the Covid-19 pandemic. His wife, Nita Ambani, who was serving as a non-executive director on the board of Reliance Industries till August 2023, earned Rs 2 lakh as a sitting fee and Rs 97 lakh as commission during the financial year 2023-24. Nita Ambani's net worth is reportedly to be around Rs 2,340 to Rs 2,510 crore by 2024.
Their three children joined the board of Reliance in 2023. Son Akash Ambani heads Jio, daughter Isha Ambani oversees retail and financial services; and younger son Anant Ambani is in the energy business. Isha oversees Reliance Retail. She was ranked 31st in the Hurun Rich list and her estimated net worth is Rs 800 crore. Elder son Akash Ambani, who manages the company's telecom venture Reliance Jio, is ranked 32nd in the Hurun Rich list. His net worth is said to be Rs 3,300 crore. According to the report, Mukesh Ambani's youngest son Anant Ambani gets a salary of Rs 4.2 crore every year.
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Meanwhile, Reliance has one of the largest oil refining complexes in the world. The Mumbai-based conglomerate's other businesses include polymer and chemical manufacturers. Mukesh Ambani also owns the IPL team Mumbai Indians. The billionaire's Mumbai mansion, Antilia, is valued at around Rs 15,000 crore.
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