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Mukesh Ambani and family
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Indian Prime Minister Narendra Modi (right) greets the country’s richest man, Mukesh Ambani. The family is hugely wealthy and well connected. Photo: Sam Panthaky/AFP

Beyoncé live as wedding entertainment, Priyanka Chopra, Nick Jonas, Hillary Clinton as guests: meet the Ambanis, Asia’s richest family

  • With an estimated net worth of US$66 billion, Mukesh Ambani is the first Asian billionaire to make Fortune magazine’s list of the world’s 10 richest people
  • For an idea of the Ambanis’ wealth and heft, Beyoncé performed at a multimillion-dollar family wedding in 2018, while Tony Blair attended another in 2019

The list of the world’s top 10 richest people recently included the first member from Asia, Fortune reported: Mukesh Ambani, the richest person in India, is now the ninth richest person in the world. According to the Bloomberg Billionaires Index, Ambani is worth an estimated US$66.1 billion.

He is the owner and chairman of Reliance Industries, a massive conglomerate that includes telecom arm Jio Platforms, which has been thriving because of a “flurry” of recent investments, Fortune reported. In April, Facebook announced it was investing US$5.7 billion in Jio.
The Ambanis made international headlines in 2018 for throwing one of the most lavish wedding celebrations in recent memory, which included a private Beyoncé concert and celebrity guests such as Priyanka Chopra and Nick Jonas, Hillary Clinton, and Arianna Huffington. The Ambani family home in Mumbai is a 27-storey skyscraper that cost an estimated US$1 billion to build.

Here’s a look at the Ambani family’s fortune, relationships, friends, and lavish lifestyles.

The Ambani residence in Mumbai. Photo: @through_photographers_eye/Instagram

The Ambani family in India has been described as Asia’s richest family by Forbes.

The family’s massive wealth began with Dhirubhai Ambani, who founded Reliance Industries to manufacture fabrics and textiles. Reliance Industries is now worth US$100 billion, and one of the most valuable companies in India.

From left: Nita, Akash, Isha and Mukesh Ambani arrive for Akash's wedding in Mumbai in 2019. Former British prime minister Tony Blair and Priyanka Chopra were among the guests. Photo: AP/Rajanish Kakade

Dhirubhai died in 2002 at age 69 without a will, leaving his company to be run by both of his sons: Mukesh and his younger brother, Anil. A bitter succession battle between the two brothers followed their father’s death and resulted in a rivalrous relationship.

Ultimately, Mukesh was left in charge of the majority of Reliance. 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.

Nita Ambani. Photo: Instagram

Anil took over the construction, telecommunications, asset management, entertainment and power generation businesses.

Mukesh Ambani passed Jack Ma, founder of Alibaba Group (which owns the South China Morning Post) in July 2018 to become the richest man in Asia. But in early 2020, his wealth ranking dropped slightly below Ma’s.

Indian media reported in September 2018 that Anil’s “cash-strapped” Reliance Communications would quit the telecom business and turn to real estate. In early 2020, Anil told a UK court that his net worth was “zero” and that he was bankrupt.

Tina and Anil Ambani. Photo: @tinaambaniofficial/Instagram

Anil is married to Tina Ambani, a former Bollywood actress. they have two sons. Anmol Ambani, 28, works in his father’s company and was named a director to the board of Reliance Capital in 2016. Anil’s younger son, 24-year-old Anshul, joined the family business as a management trainee in January 2019.

Mukesh Ambani is married to Nita Ambani, who Forbes called “the first lady of Indian business” in 2016. Nita is the chair of Reliance Foundation, the company’s charity organisation. She is also involved with the company’s sports ventures as well as marketing and branding strategy for Reliance Jio Infocomm, Reliance’s mobile network operator.

Nita and Mukesh have three children, the youngest being 25-year-old Anant Ambani, who has started taking part in some of his father’s company’s events and meetings. Rumours have swirled about a possible engagement between Anant and Radhika Merchant, but a Reliance spokesman said in May 2019 that “Anant Ambani is not engaged yet”.

Isha Ambani studied at Yale and Stanford. Photo: Instagram/@ishaambaniii

Then there are 28-year-old twins Isha and Akash Ambani. Akash is a board member at Reliance Jio. Both he and his twin sister studied at Ivy League universities in the United States, Akash at Brown University and Isha at Yale and Stanford.

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. They were married in Mumbai in March 2019. Google CEO Sundar Pichai, former British prime minister Tony Blair, and Priyanka Chopra were reportedly among the guests.

Beyoncé performed a private concert at the Ambani wedding celebrations in India. Photo: Instagram/@beyonce

Akash’s twin sister, Isha, is on the board of directors of India’s largest retailer, Reliance Retail, a subsidiary of Reliance Industries, and serves as a co-director for the telecom arm, Jio. Isha married Anand Piramal, now 34, heir to a real estate and pharmaceutical business, in December 2018, following several lavish pre-wedding events.

The engagement party took place at the luxury Villa D’Este hotel on Lake Como in Italy, where singer John Legend gave a private performance. Celebrations in India included a private concert by Beyoncé.

Some 600 guests attended the extravagant wedding, which cost an estimated US$100 million by some reports. A Reliance spokesman, however, said it cost no more than US$15 million.

Guests included former US secretary of state and presidential candidate Hillary Clinton and her aide Huma Abedin. The wedding venue was the Ambani family home in Mumbai, called Antilia after a mythical Atlantic island.

Antilia includes swimming pools, ballrooms, a garden that spans three floors, six floors of parking, three helipads, and it can withstand a magnitude eight earthquake. A staff of 600 runs the home. It’s estimated to be one of the world’s most expensive properties.

The Ambanis’ ballroom. Photo: @houseoftag_official/Instagram

The Ambani family has long mingled with high-profile global figures, including Britain’s Prince Charles and the Duchess of Cornwall, Indian Prime Minister Narendra Modi, and former US president Barack Obama.

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 US$100 billion company.

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