A look into the life of India's richest person, Mukesh Ambani's best friend, Anand Jain. The man who founded Jai Corp Limited and has a special connection with the fantasy sports app, Dream 11.
Indian billionaire, Mukesh Ambani is the richest person in India with a staggering net worth of Rs. 948860 crore. The chairman and managing director of Reliance Industries Limited (RIL) has been making his mark in a series of sectors like energy, petrochemicals, entertainment, retail, telecommunications, textiles, mass media, and many more. It was in February 2024 that Mukesh Ambani’s Reliance Industries Limited created history as it became the first Indian company to touch the mark of Rs. 20 lakh crore in market capitalisation.
Courtesy of its massive market capitalisation, RIL is the 48th most valuable company in the world. Apart from being a visionary businessman, Mukesh Ambani is also renowned for valuing his partners and employees above everything else. Time and again, we have seen him advise young entrepreneurs to treat their employees like family, if their aim is to build a successful company or brand.
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Mukesh Ambani’s advice about treating employees with utmost respect and not just like machines is not just a statement to gain likes on social media. Over the decades, we have seen him lauding his employees and partners for their valuable contributions to making Reliance Industries Limited India’s biggest conglomerate. In order to understand how deeply Mukesh Ambani respects his relations, we are going to talk about his best friend, Anand Jain, who was once India’s 11th richest Indian back in 2007.
Mukesh Ambani and Anand Jain have been friends since childhood. The duo met for the first time when they were studying at Mumbai’s Hill Grange High School. Ambani and Jain developed a concrete bond with each other. In the following years, Mukesh Ambani went to Stanford University, but he remained in touch with his best friend, Anand Jain. As a result, when Mukesh returned to India and took command of Reliance Industries Limited, it was Anand Jain, who left his business ventures in Delhi and joined his best friend in his family business.
Just like Mukesh Ambani, his best friend, Anand Jain is also a businessman, who is the founder of Jai Corp Limited. For the unversed, it was back in 1985 when Anand Jain founded Jai Corp Limited, which deals in a series of businesses spanning steel, manufacturing, yarn spinning, real estate development, plastic processing, and more.
As per a report in the Financial Express, Anand Jain’s company, Jai Corp Limited, also includes the establishment of SEZs (Special Economic Zones), venture capital investments, real estate endeavours, investment in 33 projects, and several infrastructure projects.
Anand Jain has decades of expertise in different sectors, such as finance, capital markets, real estate, and more. According to a report in The Economic Times, he was first noted in Reliance in the mid-1980s, when he disrupted the bear cartel led by the then-kingpin of the Bombay Stock Exchange (BSE), Manu Manek. In the following years, Anand Jain became a prominent figure at Reliance Group, particularly in its telecom wing, Reliance Infocomm.
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Anand Jain broke headlines once again back in January 2005, when Mukesh Ambani’s brother, Anil Ambani resigned from his position of vice-chairman and director at IPCL. As per multiple reports, Anil Ambani cited his differences from Mukesh Ambani’s best friend, Anand Jain as the major factor behind his decision to resign from his position. Despite all the controversy around Anil Ambani's resignation due to Anand Jain, the latter continued to be a major part of the conglomerate.
Anand Jain has been closely associated with the Fortune 500 Reliance Group for over 25 years. Not only this, he has also served as the vice-chairman of Reliance Capital and IPCL (Indian Petro Chemicals Limited).
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Apart from playing a key role at Reliance Group and leading his own conglomerate, Jai Corp Limited, Anand Jain also has a connection with India’s biggest fantasy sports app, Dream 11. For the unversed, Anand Jain is married to Sushma Jain and together they are parents to two children, Neha Jain and Harsh Jain. While not much is known about Neha’s professional background, Harsh is the co-founder of India’s leading fantasy sports app, Dream 11.
As per a report in DNA, Anand Jain’s son, Harsh Jain’s Dream 11 is a Rs. 65,000 crore brand. It was back in April 2019 when Dream 11 became India’s first fantasy sports company to become a unicorn. It was a proud moment for Anand Jain, whose son proved the mettle of his business acumen. The family of four hardly makes their way into the headlines, as Anand Jain prefers to live a quiet life away from the glam and glitz.
It’s incredible how Mukesh Ambani and Anand Jain continue to lead their friendship despite having worked together for so many decades. What are your thoughts on this? Let us know.
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