The Anil Ambani Story of Riches of rags.Once among the world’s richest men, Anil Ambani is in the midst of a crumbling situation today. Surrounded by billions of debt, there came such a bad time for this once-billionaire that in 2019, his entire business’s equity value crashed to $523 million The Anil Ambani Story of Riches of rags.
In 2008, Anil Ambani, according to Forbes, became the 6th richest person in the world with a wealth of $42 billion after inheriting his wealth and being appointed as the chairman of the Reliance Anil Dhirubhai Ambani Group (Reliance ADAG). A portion of the influential organizations that constituted the Reliance ADA Group included Reliance Communications, Reliance Capital, Reliance Power, Reliance Infrastructure, Reliance Naval, Reliance Home Finance.
Who is Anil Ambani?
Anil Ambani was born on June 4, 1959, in Mumbai, India. He is the second child of the Indian business mogul Dhirubhai Ambani and the younger brother of Mukesh Ambani, head of Reliance Industries. Anil Ambani is an Indian businessman and chairman of the Anil Dhirubhai Ambani Group, otherwise called the Reliance Group.
He owned many renowned companies, such as Reliance Communication and Reliance Power. The business group operates in many industries such as finance, power, and telecom. In 2008, Reliance Power’s IPO was subscribed in less than 1 Minute, which is the fastest in the Indian capital market for The Anil Ambani Story
The Start of Success
Anil Ambani joined the Reliance Industry in 1983 as a co-CEO, which was established by his father. Among the most successful businessmen in India, who were mostly college dropouts, Anil Ambani was a well educated businessman, who had done a Masters in Business Administration from the Wharton School of the University of Pennsylvania in 1983.
Under the leadership of Anil Ambani, Reliance Industries raised $2 Billion from the international financial market.
In 1991, Anil Ambani tied the knot with former Bollywood actress, Tina Munim then The Anil Ambani Story
Anil Ambani was also elected a Member of Rajya Sabha in 2004.
The Split between brothers
In 2002, Dhirubhai Ambani died without signing his will. After his father passed away, Anil was made the Managing Director of Reliance Industries. Mukesh was made the chairman, which at the time, was a Rs 28,000 crore business conglomerate.
In 2005, a spark of trouble began to grow between the brothers. The brothers had a dispute related to the supply of gas, which led to a court case between them, and the company, was eventually split into two for The Anil Ambani Story of Riches of rags.
Good Days of Anil Ambani
During the split of businesses, Anil Ambani acquired all the new companies, and among them was Reliance Communication, which seemed like the most promising one at the moment.
In 2007, Anil Ambani’s overall wealth reached around Rs. 4 lakh crores alongside being honored with many business awards for The Anil Ambani Story of the success. And the driver of this wealth and fame, was Reliance Communications.
The Anil Ambani Story of Riches of rags
Anil Ambani faced the wrath of the 2008 financial crisis, which was the beginning of the more challenges which were waiting for him, just around the corner. The Rs. 11,563 crores raised through the history-making Reliance Power IPO supported multiple future projects.
However, to get the projects started, natural gas was required at a reasonable rate, and with the 2008 financial crisis, this wasn’t easy to achieve.
Mukesh Ambani being the shrewd businessman he is, saw this as an opportunity and took it to nullify the non-compete clause against providing natural gas to Anil Ambani. Anil Ambani’s plants may have started running again, but the future had other plans for him.
It seems like Anil Ambani has faced it all, starting from going through the journey of riches to rags, struggling with court summons and trying to pay off his debts. Starting from his wealth decline from Rs 4 lakh crore during the 2008 financial crisis, it is now standing at Rs. 2000 crores in 2020.
Experts have also believed that this sharp decline was all because of some of his irrational investment decisions and inability to survive the competitive business world.The Anis Ambani Story was from Riches of rags.
However, it seems like things are still not over for Anil Ambani, and no one knows what’s waiting for him in the future; only time can tell.