The 2025 contraction marks the steepest decline in both the number of billionaire promoters and their aggregate wealth since 2012.
'Economic benefits of RIL shares held by these four companies have always been for the benefit of RIL's shareholders, and remains so. This fact has been reiterated by RIL a number of times,' the company said.
He was accompanied by his daughter Isha and son Anant
At the 45th Annual General Meeting of Reliance Industries (RIL) in August, chairman and managing director (CMD) Mukesh Ambani described the company as an "unputdownable book" with never-ending chapters of success. "Reliance grew from strength to strength because we internalised the founder's mindset of purpose, philosophy and passion," he said. Wednesday marked the 90th birth anniversary of RIL founder Dhirubhai Ambani.
Another person on Indian origin, PepsiCo chairman and chief executive officer Indra Nooyi, is already a member of the WEF Foundation Board.
Reliance Industries chairman Mukesh Ambani has overtaken Adani Group chairman Gautam Adani to become the richest Indian in the world with a net worth of $84.3 billion, according to Forbes Real-time billionaire list for 2023. Ambani overtook Adani after the Reliance Industries chairman's assets went up 0.19 per cent with an increase of wealth by $64 million while Gautam Adani's assets went down by 4.62 per cent with the industrialist's weath pegged at $84.1 billion according to the real time tracker of Forbes of 5 pm EST on Tuesday. Adani who figured among the top three billionaires in the world has dropped in the ranking to number 10 just below Mukesh Ambani.
The Adani Group has overtaken Mukesh Ambani Group to become the country's second biggest business group in terms of market cap behind Tatas. Adani Group cos now have a combined m-cap of Rs 19.44 trillion against Ambani Group cos combined m-cap of Rs 17.89 trillion. Tata Group leads the league table with the group market capitalisation of Rs 21.73 trillion on Monday. The Adani Group companies, however, continue to out-perform firms from business groups and the broader market on the bourses by a big margin.
Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.
According to a company statement, Ambani said he envisaged a new India in the not too distant future, where almost everything done digitally is transformed to a value-creating and life-enriching new experience cutting across all strata of society.
This is not the first time Reliance has eyed a stake in the club.
Mukesh Ambani has been ranked as India's most powerful CEO.
Reliance Industries Ltd chairman and managing director Mukesh Ambani met Prime Minister Manmohan Singh
India Against Corruption on Wednesday brought Reliance Industries Chairman Mukesh Ambani in its line of fire alleging that the United Progressive Alliance and the previous National Democratic Alliance governments had favoured his company by giving contract on gas exploration in KG Basin and concessions at a huge cost to the exchequer.
Reliance Industries chief Mukesh Ambani on Thursday met Finance Minister P Chidambaram and other senior officials in the ministry.
Reliance Industries chairman Mukesh Ambani recalls his early childhood and what his father Dhirubhai taught him.
We had limited capital but our approach was different, says the RIL chairman.
We are working at putting the most modern technology in farms at Indian costs. I always say whatever the US implements in dollars we should be able to do it at exchange rate of Rs 10, then we would be globally competitive.
Eipro's Azim Premji has been pushed to second place.
Reliance Industries chairman Mukesh Ambani will appeal against the fine imposed by market regulator SEBI over alleged irregularities in a two-decade-old share issue in the company, the firm said on Thursday. Reliance Industries Ltd (RIL) had issued debentures with convertible warrants in 1994 and allotted equity shares against the warrants in 2000. This was when Dhirubhai Ambani was heading the undivided company.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
Thanks to a continued rise in the market capitalisation of the Adani Group companies, its promoter Gautam Adani is now the second richest Asian and fourteenth richest businessman in the world with a networth of $66.5 billion. Reliance Industries promoter Mukesh Ambani remains the wealthiest businessman in Asia with a networth of around $76.5 billion, according to Bloomberg data. The six Adani Group companies had combined market capitalisation of Rs 8.36 trillion as on Thursday, against Reliance Industries' market capitalisation of Rs 12.6 trillion. Adani Green tops the charts in the group with m-cap with Rs 1.99 trillion.
Mukesh Ambani is planning to provide Rs 1000 crore seed capital to kick-start a new venture that would invest in innovative business ideas, including in technology and healthcare segments. Ambani, who heads the country's most valued corporate entity Reliance Industries, will probably make this investment of about USD 250 million in his individual capacity, sources close to the development said.
A bailable arrest warrant has been issued against Mukesh Ambani, chairman and managing director, Reliance Industries Ltd, by a consumer forum in Thissur for failure to pay Rs 24,000 fine to a person who had purchased a mobile from a Reliance outlet in 2003.
Reliance Industries chairman Mukesh Ambani and his wife Nita Ambani topped a list of power couples dominated by celebrity pairs from Bollywood, according to the annual survey results released by the Indian Institute of Human Brands (IIHB) in Mumbai on Wednesday. Ranveer Singh and Deepika Padukone followed the Ambanis at No 2, and Virat Kohli and Anushka Sharma occupied the third position. Five other couples from the corporate world made it to the list - Infosys founder Narayana Murthy and Sudha Murty at 10th, Adar and Natasha Poonawala (Serum Institute) at 11th, Azim and Yasmeen Premji (Wipro) at 16th, Anand and Anuradha Mahindra (Mahindra Group) at 19th, and Kumar Mangalam and Neerja Birla (Aditya Birla Group) at 20th position.
Billionaire Mukesh Ambani's Reliance Retail is poised to perform a rare feat by finally turning profitable.
Leading industrialist, Mukesh Ambani,on Friday said the trend of rising energy prices is a matter of great concern and that it could rise further to three-digits going forward.
India, the world's third-largest energy consumer, will see its energy needs doubling by the end of this decade as it witnesses an unprecedented explosion of economic growth, the nation's richest man Mukesh Ambani said on Saturday. Speaking at the convocation of Pandit Deendayal Energy University (PDEU), Ambani, who heads the nation's most valuable company Reliance Industries Ltd, said the Indian economy will become a $40 trillion economy by 2047 from the current $3.5 trillion. "And to fuel this growth, the country will need enormous amounts of energy - clean, green energy that won't choke mother nature for the sake of human progress," he said.
Reliance Industries CMD Mukesh Ambani made a strong argument in favour of removal of export controls by the US to give a further boost to the partnership between India and the US.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Readers Narasingam, Srinivas B and Srinivas P spotted Mukesh Ambani, chairman nad managing director of Reliance Industries, in Prague, capital of the Czech Republic.
Energy tycoon and Reliance Industries Chairman Mukesh Ambani is the country's richest man with a personal fortune of $19.3 billion, says a report.
Reliance Industries, headed by India's richest man Mukesh Ambani, has bought an ultra-luxury Rolls Royce hatchback costing Rs 13.14 crore.
Billionaire Mukesh Ambani on Monday became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market.
If the Somnath temple, which was attacked 1,000 years ago and faced continuous attacks thereon, could rise again and again, then we can surely restore our great nation to the glory it embodied 1,000 years ago before the invasions, asserts Narendra Modi.
The NIA took over the case following orders from the Ministry of Home Affairs.
Mukesh Ambani joined Reliance in 1981 and initiated Reliance's journey from textiles into polyester fibres and further into petrochemicals, petroleum refining and going up-stream into oil and gas exploration and production.
'If I was the India chief selector, I would have convinced Mukesh Ambani (Mumbai Indians owner) and Bumrah that it was important for Bumrah to miss the IPL for the England series, or play a lesser number of matches in the IPL.' 'I'm sure that they would have agreed to do so.'
Oil-to-telecom conglomerate Reliance Industries (RIL) has emerged as the country's largest wealth creator, adding a staggering Rs 9.6 trillion over the past five years, according to Motilal Oswal's 26th Annual Wealth Creation Study. In doing so, the Mukesh Ambani-led company has beaten its own record of Rs 5.6 trillion generated in 2014-19. The study covered financial year 2015-16 (FY16) to FY21 and ranks the top 100 companies in descending order of absolute wealth created, subject to the company's stock price outperforming the BSE Sensex. The firms were also ranked according to speed (price CAGR during the period).
