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India’s richest man got $16.4 billion richer in 2019. Meet the Ambanis, Asia’s wealthiest family, who live in a $1 billion skyscraper and mingle with royals and Bollywood stars.
- The Ambanis are the richest family in Asia, according to Forbes.
- The family patriarch, Indian business tycoon Mukesh Ambani, is India’s richest man, worth an estimated $60.7 billion, according to Bloomberg’s Billionaires Index.
- Ambani is the 12th-richest person in the world, according to Bloomberg, while Forbes pegs him as the 10th-richest.
- While more than half of India’s richest people took hits to their net worth in the past year, Ambani has added $16.4 billion to his fortune since the beginning of 2019.
- The Ambanis live in a 27-story skyscraper in Mumbai, rumored to have cost $1 billion to build, which would make it one of the most expensive homes anywhere in the world.
- Visit Business Insider’s homepage for more stories.
The richest family in Asia is an Indian family that made headlines in 2018 for throwing one of the most lavish wedding celebrations in recent memory, which included a private Beyoncé concert and celebrity guests including Priyanka Chopra and Nick Jonas, Hillary Clinton, and Arianna Huffington.
The Ambani family is behind the oil-to-telecom conglomerate Reliance Industries. The company’s chairman and largest shareholder is Mukesh Ambani, the richest man in Asia, who is worth an estimated $60.7 billion, according to Bloomberg’s Billionaires Index.
That makes him the 12th-richest person in the world, according to Bloomberg, while Forbes pegs him the 10th-richest.
Mukesh’s daughter, 28-year-old Isha Ambani, married Anand Piramal, 34, heir to a real-estate and pharmaceutical business, in December 2018 at the Ambani family home in Mumbai, a 27-story skyscraper that cost an estimated $1 billion to build.
Here’s a look at the Ambani family’s fortune, relationships, friends, and lavish lifestyles.
India’s richest man got $16.4 billion richer in 2019. Meet the Ambanis, Asia’s wealthiest family, who live in a $1 billion skyscraper and mingle with royals and Bollywood stars. slides
India’s richest man got $16.4 billion richer in 2019. Meet the Ambanis, Asia’s wealthiest family, who live in a $1 billion skyscraper and mingle with royals and Bollywood stars. slides
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… leaving his company to be run by both of his sons: Mukesh and his younger brother, Anil.
Source: Bloomberg
Reuters
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A bitter succession battle between the two brothers followed their father’s death and resulted in a rivalrous relationship between Mukesh and Anil. Ultimately, Mukesh was left in charge of the majority of Reliance.
Source: Bloomberg
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In 2005, the brothers split the company in a deal negotiated by their mother, and Mukesh was left with control of the oil, gas, petrochemicals, and refining operations of the business. Anil took over construction, telecommunications, asset management, entertainment and power generation businesses.
Source: Bloomberg
Reuters
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Mukesh surpassed Alibaba Group founder Jack Ma in July 2018 to become the richest man in Asia after a thriving year for his company.
Source: Bloomberg
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Indian media reported in September 2018 that Anil’s “cash-strapped” Reliance Communications will quit the telecom business and turn to real estate.
Source: Times of India
Reuters
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… and they have two sons. Anmol Ambani, 27, works within his father’s company and was named a director to the Board of Reliance Capital in 2016.
Source: Reliance Capital
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Anil’s younger son, 23-year-old Anshul, joined the family business as a management trainee in January 2019.
Source: The Hindu Business Line
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Mukesh Ambani is married to Nita Ambani, who Forbes called “The First Lady Of Indian Business” in 2016.
Source: Forbes
Reuters
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Nita is the chair of Reliance Foundation, the company’s charity organization. She’s also involved with the company’s sports ventures as well as marketing and branding strategy for Reliance Jio Infocomm, Reliance’s mobile network operator.
Source: Forbes
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Nita and Mukesh have three children, the youngest being 24-year-old Anant Ambani, who has started taking part in some of his father’s company’s events and meetings.
Source: Bloomberg
Associated Press
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Rumors have swirled about a possible engagement between Anant and Radhika Merchant, but a Reliance spokesperson said in May that “Anant Ambani is not engaged yet.” A recent article called Anant “India’s most eligible bachelor.”
Source: Yahoo India, South China Morning Post
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Akash is a board member at Reliance Jio. Both he and his twin sister studied at Ivy League universities in the US, Akash at Brown University …
Source: Forbes
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Akash is married to his high school sweetheart, Shloka Mehta, the daughter of a well-known diamond merchant. Mehta reportedly studied at Princeton University and the London School of Economics.
Source: Forbes, South China Morning Post
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They were married in Mumbai in March 2019. Google CEO Sundar Pichai, former British prime minister Tony Blair, and actress Priyanka Chopra were reportedly among the guests.
Source: Forbes, India Today, Straits Times
Milind Shelte/The India Today Group via Getty Images
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Akash’s twin sister, Isha, is on the board of directors for India’s largest retailer, Reliance Retail, a subsidiary of Reliance Industries, and serves as a co-director for the telecom arm, Jio.
Source: Business Insider
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She previously spent a stint working at management consulting firm McKinsey in New York.
Source: India Times
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Isha married Anand Piramal, now 34, heir to a real estate and pharmaceutical business, in December 2018, following several lavish pre-wedding events.
Source: Business Insider
Reuters
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The engagement party took place at the luxury Villa D’Este hotel on Italy’s Lake Como, where singer John Legend gave a private performance.
Source: Business Insider
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Other pre-wedding festivities were held in the western Indian city of Udaipur.
Source: Business Insider
Reuters
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These celebrations included a private concert by Beyoncé, who reportedly sang “Crazy in Love,” “Naughty Girl,” and “Perfect” at the Oberoi Udaivilas hotel in Udaipur.
Source: Business Insider
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The wedding ceremony itself was held at the Ambani family home in Mumbai.
Source: Business Insider
Reuters
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An estimated 600 guests attended the extravagant wedding, which cost an estimated $100 million by some reports. A Reliance spokesman, however, said it cost no more than $15 million.
Source: Forbes
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Vintage cars carried guests during the wedding procession.
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Brothers Akash and Anant rode in on horseback.
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The celebration included dance performances and sightings of many high-profile guests …
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… including former Secretary of State and presidential candidate Hillary Clinton with her longtime aide, Huma Abedin …
Associated Press
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… actor Priyanka Chopra and her husband, Nick Jonas …
Reuters
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… and Bollywood star Shah Rukh Khan.
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The wedding venue was the Ambani family home in Mumbai: a 27-story luxury skyscraper that cost an estimated $1 billion to build. It’s called Antilia after a mythical Atlantic island.
Source: Business Insider
Reuters
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Antilia includes swimming pools, ballrooms, a garden that spans three floors, six floors of parking, three helipads, and it can withstand a magnitude 8 earthquake. A staff of 600 people runs the home.
Source: Business Insider
Reuters
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It’s estimated to be one of the world’s most expensive properties, second to Buckingham Palace. In this photo, trees surrounding the skyscraper are decorated for Isha’s wedding.
Source: Business Insider
Reuters
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The Ambani family has long mingled with high-profile global figures, including Prince Charles and Camilla, the Duchess of Cornwall …
Reuters
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… former British Prime Minister David Cameron …
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… Indian Prime Minister Narendra Modi …
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… former US president Barack Obama …
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… and former Secretary of State, Hillary Clinton. The Clintons and the Ambanis have reportedly known each other for nearly 20 years.
Source: The Guardian
Reuters
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Ambani’s telecom company, Jio, has grown to become one of India’s biggest mobile carriers, with 340 million subscribers.
Source: Forbes
Reuters
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Mukesh Ambani’s three children are involved in the family business in some capacity, but Ambani’s succession plan for the company is “unclear,” according to Bloomberg. Only time will tell who will take over the $100 billion company.
Source: Bloomberg
Reuters
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