Anil Ambani Net Worth 2024: Career, Lifestyle, Early Life, Biography- eBLOGTALK

Anil Ambani Net Worth: Anil Ambani is an Indian businessman and the chairman of the Reliance Group, also known as Reliance ADA Group. He is the younger brother of Mukesh Ambani, the chairman of Reliance Industries Limited (RIL). His Reliance Group operates across multiple industries, including telecommunications (Reliance Communications), power (Reliance Power), infrastructure, financial services, and entertainment (Reliance Entertainment). Let’s explore his net worth

Table of Content

Anil Ambani Biography and Career Overview

Anil Ambani was born into a prominent Gujarati family from Chorwad, Gujarat. He spent his early years in Mumbai and completed his education at Kishinchand Chellaram College, where he earned a Bachelor of Science degree. He later pursued an MBA at the Wharton School, University of Pennsylvania, in 1983.

Anil Ambani is married to Tina Munim, a former Bollywood actress. They have 2 sons, including Jai Anmol Ambani and Jai Anshul Ambani. They live in the luxurious 14-story Sea Wind in Mumbai.

Full Name	Anil Dhirubhai Ambani
Date of Birth	June 4, 1959
Citizenship	India
Residence	Mumbai, India
Education	Bachelor’s Degree in Science: University of Bombay MBA: Wharton School, University of Pennsylvania
Father	Dhirubhai Ambani
Mother	Kokilaben Ambani
Spouse	Tina Ambani (Married in 1991)
Children	Jai Anmol Ambani, Jai Anshul Ambani

Anil Ambani Career Highlights

After completing his MBA, Anil Ambani joined Reliance Industries Limited, the company founded by his father, Dhirubhai Ambani. Following a business split with his elder brother, Mukesh Ambani, he took control of certain segments of the Reliance Group, including telecommunications, power, infrastructure, financial services, and entertainment. He has held leadership positions in various publicly listed companies, such as:

Reliance Communications (Telecommunications)
Reliance Power (Energy)
Reliance Capital (Financial Services)
Reliance Infrastructure (Infrastructure and Construction)

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Anil Ambani Net Worth 2024

Anil Ambani’s current net worth is $0 million. In 2007, Forbes reported it as $45 billion. Since 2006, his brother Mukesh Ambani’s wealth has grown more than nine times. In February 2020, Anil Ambani told a UK court that he had declared bankruptcy and had no net worth. In the past, his average annual income was 186 crores, which is about 50 lakhs per day.

NAME	Anil Ambani
Net worth	$42 billion (before becoming Rs. 0)
Monthly Income	–
Yearly Income	Rs. 186 Crores (before becoming Rs. 0)
Wealth	Rs. 0 million
Properties owned	Rs. 5,000 Crores (before becoming Rs. 0)
Miscellaneous assets	$1.2 billion (before becoming Rs. 0)

Anil Ambani Key Highlights

Reliance Powers IPO (2008): Anil Ambani oversaw India’s largest IPO, which was oversubscribed within 60 seconds.
In 2005, he purchased Adlabs Films, which was subsequently renamed Reliance MediaWorks.
In 2008, Reliance Entertainment formed a Hollywood collaboration with Steven Spielberg’s DreamWorks in a $1.2 billion joint venture to co-produce films.

Anil Ambani’s Business

He has been related with many important businesses mostly under Reliance Group (Reliance ADA Group) which is operational throughout.
Reliance Capital is a firm offers financial services.
Reliance Infrastructure deals with infrastructure & construction.
Reliance power works for energy.
Reliance communications can also be termed as telecommunications.
Reliance MediaWorks deals with entertainment & media while DreamWorks is related to Hollywood.

Anil Ambani’s Career Highlights

Anil Ambani’s career highlights include:

Reliance Power IPO (2008): India’s largest IPO, oversubscribed within 60 seconds.
A $1.2 billion partnership with Steven Spielberg’s DreamWorks, a joint venture established in 2008.
In 2021, the Pandora Papers named him and Mukesh Ambani among people who sheltered money offshore.

Anil Ambani’s Awards & Recognitions

Anil Ambani is a businessman who is the recipient of several awards for business leadership.

Businessman of the Year (1997): Business India.
Bombay Management Association honored him with Entrepreneur of the Decade (2002).
Platts Global Energy Awards named him CEO of the Year in 2004.
Times of India: TNS Poll named him Businessman of the Year 2006.
Business Leaders Role Model: Best (2006) awards were given by India Today.
He earned the Wharton Indian Alumni Award at the Wharton India Economic Forum in 2001.
Business and finance industry leaders of the millennium by Asiaweek in 1999.

Anil Ambani’s Personal Life & Legacy

Anil Ambani leads a disciplined life and has engaged in various philanthropic activities.
He does not drink, eat meat, and likes to run while taking part in marathons.
He was an Independent Member of Parliament (Rajya Sabha, Uttar Pradesh) from 2004 to 2006.
He actively contributes for social development.
Once declared the 6th richest person of the world, he went bankrupt in 2020 in a bankruptcy court in the UK.
He has been in legal disputes, contempt of court for not paying debts and dispute with Chinese banks.
He has been accused of crony capitalism and favoritism in the deal for fighter jets by Dassault Aviation, though the size of his involvement is disputed.

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SEBI Ban: Major Setback for Anil Ambani

Anil Ambani to suffer a major setback as SEBI bans him from securities market Anil Ambani, along with 24 other entities, has been barred for five years from the securities market by SEBI. This is a huge setback for the businessman. SEBI has alleged that Reliance Home Finance (RHFL), which Ambani previously served as chairman, was engaged in a fraudulent money diversion scheme.

Anil Ambani, Through Reliance Home Finance (RHFL), indirectly controlled some companies. SEBI found that he misused his position to siphon off funds from Reliance capital. SEBI also demanded a penalty of ₹25 crore from him along with others. According to the report, loans were provided to companies having almost zero assets and revenue, raising legitimacy concerns. Corrective measures were advised by RHFL’s Board but the management did not comply that resulted in a serious governance failure.

Supreme Court Overturns ₹8,000 Crore Arbitral Award

The Supreme Court has overturned an arbitral award of ₹8,000 crore to Anil Ambani’s DAMEPL. DAMEPL is the company owned by Reliance Infrastructure, subsidiary of DAMEPL at Delhi Airport Metro Express Limited (DAMEPL). The dispute arose from a contract between DAMEPL and the Delhi Metro Rail Corporation (DMRC) in 2008. Anil Ambani’s financial problems worsened when the Supreme Court quashed an ₹8,000 crore arbitral award granted to DAMEPL.

Anil Ambani’s Declining Net Worth & Business Struggles

Wealthy businessman Anil Ambani, who was once the world’s sixth richest person in 2008 with a fortune of $42 billion, has seen his net worth decline. He declared bankruptcy in a court in the UK in February 2020 citing many legal and financial challenges. His foray into the business world started in the eighties when he started looking after the financial dealings of Reliance after his father Dhirubhai Ambani’s stroke in the year 1986. After Dhirubhai died in 2002, Anil and Mukesh Ambani led the Reliance empire jointly.

A family feud led to a split in 2005 in which Mukesh retained the oil and petrochemicals businesses while Anil took over the telecom, power and financial services. Anil’s businesses borrowed heavily and ran into massive financial troubles despite taking over sectors like telecoms and power. These businesses’ reliance on debt resulted in their downfall.

Failed Ventures

Ambani’s expansion plan was to diversify into infrastructure, defence, entertainment but failed.
His ambitious project of gas-based power in Dadri, UP, failed when the court ordered cancellation of land acquisition in 2009.
His plans for financially viable investments in entertainment through deals with adlabs and dreamworks yielded no returns.
The Reliance Communications (RCom) venture became massively indebted and subsequently insolvent in 2019.

Legal Troubles

In 2019, the Supreme Court warned him of a jail term after RCom did not pay ₹550 crore to Ericsson AB’s Indian arm. At the last moment, his brother Mukesh Ambani paid the amount and saved him from getting jailed.

In a London court, three Chinese banks have undertaken legal action against Anil Ambani for default on a loan of $680 million.

According to the Banks, he gave a personal guarantee, while Ambani challenged this, claiming he made only a non-binding “personal comfort letter”. The case remains unsettled.

Financial Struggles

Anil Ambani seems to be in continuous financial trouble.
Reliance Capital, one of his businesses, filed for bankruptcy in 2021, defaulting on ₹24,000 crore worth of bonds.
Reliance Infrastructure, known for building Mumbai’s first metro line, is also economically distressed. It has defaulted on bond payments while waiting to raise funds from asset sales.

Uncertain Future

Despite his huge impact on business in India, Anil Ambani’s journey from one of the richest people in the world (worth $42 billion in 2008) to financial ruin and legal fights show the uncertainty of the corporate world. As he fights to revive his empire, the future of his business group appears highly uncertain.

Conclusion

Anil Ambani’s journey from a billionaire business tycoon to a struggling entrepreneur facing legal and financial troubles is a cautionary tale of corporate volatility. Initially successful and ambitious, his debt-heavy business model, which failed and got caught in legal troubles, has resulted in his massive fall. Even as his infrastructure, telecom and finance contributions are huge, the fall of his empire shows how mismanagement, governance failure and market volatility can bring down even the most powerful businesses. As he goes on with bankruptcy, lawsuits, and regulatory bans, the future of his business is uncertain one which brings the end of an era for one of the most high-profile industrialists of India.

FAQs About Anil Ambani Net Worth 2024

1. Who is Anil Ambani?

Anil Ambani is the younger son of Dhirubhai Ambani, founder of Reliance Industries, and an Indian businessman. He used to be a billionaire and headed the Reliance Group that had interests in telecom, power, finance and entertainment.

2. What companies did Anil Ambani own?

He was associated with several companies, including:
• Reliance Communications
• Reliance Infrastructure
• Reliance Capital
• Reliance Power
• Reliance MediaWorks
• DreamWorks (joint venture)

3. Why did Anil Ambani’s businesses fail?

His businesses failed due to heavy debts, poor financial management, regulatory challenges, and market competition. Reliance Communications, once a telecom giant, collapsed due to unsustainable borrowing and pricing wars.

4. What was Anil Ambani’s biggest business achievement?

One of his biggest achievements was launching India’s largest IPO for Reliance Power in 2008, which was fully subscribed in less than 60 seconds.

5. How did the split with Mukesh Ambani affect his business?

In 2005, Anil and Mukesh divided the Reliance empire. Mukesh kept the oil and petrochemical businesses, while Anil got the telecom, power, and finance ones. Mukesh Ambani made good use of his businesses and grew further. Anil Ambani’s businesses suffered due to not managing the finances properly.

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Disclaimer: The net worth, assets, and other information shared here are based on reports from News websites. Sometimes, celebrities or their teams also provide their input, which we include when available. We aim to provide accurate information, but unless stated otherwise, these numbers are approximate. We welcome feedback at info@eblogtalk.com.

Anil Ambani Net Worth 2024: Career, Lifestyle, Early Life, Biography