By Arnav Mittal Last Updated:
One of the most prominent global businessmen, Mukesh Ambani and his family often make headlines for their extravagant lifestyles. According to Forbes, Mukesh Ambani is currently the wealthiest person in Asia, with a net worth estimated to be around USD 82.9 billion and is the 11th richest person in the world as of 2023. He also owns the world's most expensive 27-story house in Mumbai, Antilia which is worth around USD 1 billion.
Many budding Indian entrepreneurs find inspiration in Mukesh Ambani's rise to success. He has achieved the success that many people could only dream of. However, very few people know that Mukesh Ambani dropped out of college.
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Mukesh Ambani did his schooling at Hill Grange High School in Mumbai. The industrialist then completed his Bachelor’s degree in Chemical Engineering from the Institute of Chemical Technology at the University of Mumbai. He attended St. Xavier's College in Mumbai after finishing his secondary education.
Mukesh Ambani's father, Dhirubhai Ambani's health deteriorated in 1980 while Mukesh was pursuing an MBA at Stanford University. The industrialist then left his studies and flew from California back to Mumbai. Upon his return to Mumbai, Mukesh Ambani assisted his father in the petrochemical and yarn manufacturing projects. His father believed practical skills could impart more knowledge than what could be learned in a classroom.
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Anil Ambani is the youngest son of Dhirubhai Ambani. He earned his Bachelor of Science degree from the Kishinchand Chellaram College, University of Bombay. But, unlike his brother, he is an MBA graduate from the University of Pennsylvania's Wharton School. After his father's death, he inherited a telecom business, financial services, and energy arm operations. However, it's ironic how Mukesh Ambani, the richest man in Asia, dropped out of business school while his brother, Anil Ambani, who earned a master's degree, went bankrupt once.
The Reliance company was divided between Mukesh and Anil Ambani in 2002 following the tragic death of Dhirubhai Ambani. Mukesh inherited the petrochemical operations. The world's largest community-based petroleum refinery was built under the direction and leadership of Mukesh Ambani. The Anil Ambani group received Reliance Infocom, which was Mukesh Ambani's dream project, but he still went on to make his name in the telecom market through Reliance Jio.
Reliance Industries, headed by Mukesh Ambani, acquired a 95% share in Infotel Broadband and changed its name to Reliance Jio Infocomm Limited. In order to attract more customers, Mukesh devised a strategy that offered unlimited free voice and 4G data calls. The plan was a huge success, making Reliance one of India's top telecom networks. According to Economic Times, Facebook made a USD 5.7 billion investment in Jio platforms, making it the largest investor in Jio. Some weeks later, Google revealed its USD 4.5 billion investment in Jio.
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Mukesh Ambani is married to Nita Ambani. Together, they have three children, Akash Ambani, Isha Ambani and Anant Ambani. Mukesh Ambani's son Akash did his schooling at Campion School and later went to Dhirubhai Ambani International School in Mumbai. He further pursued economics at Brown University, Rhode Island. Akash and his twin sister, Isha are co-owners of Jio and Reliance Retail. Akash also co-owns an IPL team, Mumbai Indians. Like Akash, Isha and Anant Ambani studied at Dhirubhai Ambani International School.
Isha pursued a degree in psychology from Yale University. She later pursued her MBA from Stanford University. Before joining the Board of Directors of Reliance Jio and Reliance Retail, she worked as a business analyst for the management consulting firm McKinsey & Company. She was formerly listed as the second-youngest millionaire heiress by Forbes. As far as Mukesh's youngest son is concerned, Anant went to Brown University for his higher studies and is currently appointed as the additional director on the boards for Jio telecom.
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