He was the sixth-richest person in the world in 2008, with a net worth of $42 billion. But by 2020, he faced bankruptcy. Here is his story.
In 2008, this businessman was the sixth-richest person in the world, even surpassing several other global business magnates, including his younger brother. According to Forbes, he had a net worth of $42 billion. The family’s mega business empire, which was single-handedly built by his father, split in 2005 between the two brothers, with him leading several publicly traded companies. Here is his story
Rise And Fall Of A Business Tycoon
Anil Ambani was the chairman and managing director of the Reliance Group (also known as Reliance ADA Group) in 2008. The Reliance Group was formed in 2006 after the split from Reliance Industries. After the split, Anil took control of several publicly traded companies, including Reliance Capital, Reliance Communications, Reliance Infrastructure, and Reliance Power.
He’s well-known for orchestrating the biggest Initial Public Offering (IPO) in India for Reliance Power – a feat that was fully subscribed in less than sixty seconds. Further, he made remarkable strides in the world of entertainment by securing a controlling interest in Adlabs Films, as well as partnering up with Steven Spielberg’s DreamWorks to form a billion-dollar joint venture.