Mukesh vs Anil: why did one Ambani brother go bankrupt, when the other became Asia’s richest man?
Brotherly love? How did one Ambani brother go from billionaire to bankrupt and the other become one of the world’s richest men? We break down the two Reliance Industries heirs, bound by blood, who lead, and hold, very different fortunes
The solution was to split the family business. Mukesh got control of the oil, gas, petrochemicals, refining and manufacturing parts of the business, while Anil got electricity, telecoms and financial services. But which brother has gone on to be one of the richest men in Asia and which claims his net worth is zero? We compare the wealth of the two Ambani brothers.
Anil’s downward spiral
Net worth: Zero (According to him)
From hero to zero
Back in 2008, Anil was named by Forbes the sixth richest person in the world. His net worth was an estimated whopping US$42 billion at the time. But just 12 years later the once-powerful businessman claims he is worth nothing.
So, what happened?
It’s a complicated web of lawsuits, failed deals and companies being mismanaged. In a nutshell, there were claims that RCom (Reliance Communication), the one business Anil took control of, could not keep up with the growing telecoms industry. In between attempts to keep up, loans were made and price wars emerged, causing more debt and leading RCom to file for bankruptcy. Pundits say when brother Mukesh entered the telecoms industry, it was game over.
A call for help, bro steps in