Mukesh Ambani's 66th birthday: A look at his entrepreneurial journey
What's the story
Mukesh Ambani, the richest man in India and Asia, is celebrating his 66th birthday today. The chairman of Reliance Industries (RIL) was born on April 19, 1957, in Yemen. According to the Bloomberg Billionaires Index, he is currently the 12th richest man in the world. At 66, he is still giving India's young entrepreneurs a run for their money.
Dropout
Ambani dropped out of Standford
Some of the world's richest people are college dropouts. Ambani isn't any different. He dropped out of the prestigious Stanford University while pursuing a master's degree in business administration. In 1981, he left for India to help his father, Dhirubhai Ambani, with the family business. The senior Ambani believed practical skills were more important than any knowledge a classroom could impart.
Leadership
His out-of-the-box thinking made RIL a global conglomerate
That's the beginning of Ambani as we know him now. In 2022, he completed 20 years at the helm of the company his father started. From 2002 to 2022, RIL's revenue grew by 17 times, profit saw a 20-fold jump, and the company became a global conglomerate This rise was mostly due to Ambani's visionary leadership and out-of-the-box thinking.
Growth
Ambani refuses to be satisfied with RIL's growth
RIL under Ambani is never satisfied with its growth. This has been one of the characteristics of his leadership since the beginning. From the company's merger with the Indian Petrochemical Corporation Limited (IPCL) to its entry into retail, telecommunications, aerospace, and more, we can clearly see the expansive mindset of Ambani. The conglomerate is still following the same pattern.
Disruptive
Ambani has always looked to disrupt the market
RIL is currently the most valuable company in India with a market capitalization of around $194 billion. One thing the company under Ambani's leadership has always done is disrupt the market. In 2016, the company commercially launched Jio services. The aggressive pricing strategy the company followed disrupted India's telecommunications sector. Now, it has the largest subscriber base in the wireless market.
Continuation
Reliance continues to expand to other sectors
Reliance Retail, a subsidiary of RIL, is India's largest retailer. Its rise to the top has been swift. The playbook followed to reach the summit was simple: acquire start-ups, create an infrastructure, rapidly expand that infrastructure, and challenge the incumbents with aggressive pricing. It is now trying to do the same in the FMCG sector.
Still at the top
Ambani is ranked 2nd among the world's top CEOs
Per the Brand Guardianship Index 2023, Ambani is placed second on the list of the world's top CEOs. He overtook Microsoft's Satya Nadella. It is RIL's transition to green energy and the never-ending diversification that fueled Ambani's rise. And we're certain that he is not done. His desire to make a mark across the spectrum is what's driving his and RIL's rise.