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Expansion
Mukesh Ambani, the chairman of the country’s largest company Reliance Industries and Asia’s richest person, continues to move ahead in the list of the top-10 richest people in the world. At the moment, he has reached the seventh position and his net worth has once again crossed $100 billion. The 65-year-old Ambani took over the reins of Reliance on 6 July 2002 after the death of his father Dhirubhai Ambani and took it to the heights. Today it has become the most valuable company in the country.
Dominance continues in top-10 rich
In the list of top-10 billionaires of the world, Mukesh Ambani had reached 10th and 11th position for some time. Whereas, Gautam Adani, the other Indian industrialist involved in this, was far ahead of him. But now once again Mukesh Ambani has taken a giant leap and surpasses Gautam Adani to reach the seventh position in the list with a net worth of $ 101 billion. With this, he has again won the title of being the richest person in Asia. Mukesh Ambani’s journey to reach this point was very interesting. From where his father late Dhirubhai Ambani had left Reliance Industries, Ambani took the company to such a point where the big companies of the country and the world were far behind him.
Career start like this
Significantly, after completing his studies in chemical engineering, Indian industrialist Mukesh Ambani started Reliance Petroleum Chemicals in 1981 along with his father Dhirubhai Ambani. Subsequently, in 1985, the name of the company was changed from Reliance Textile Industries Limited to Reliance Industries Limited. Apart from petroleum, Mukesh Ambani also stepped forward in the telecom sector and established Reliance Communications Limited. Mukesh Ambani made Reliance Industries the largest company of the country with his hard work and dedication. Let us tell here that in the year 2002, the market cap of Reliance Industries was Rs 75,000 crore, which has now crossed Rs 17 lakh crore under the able leadership of Mukesh Ambani. On the other hand, his younger brother Anil Ambani-led Reliance Capital is now on the verge of being sold.
The ever-increasing steps in the business world
After taking over the reins of Reliance Industries, Mukesh Ambani made his strong knock in the field of not only petroleum but also retail, life sciences, logistics, telecom and infrastructure. His Reliance Retail is India’s largest retail business company and is giving competition to Amazon. At the same time, in 2016, Mukesh Ambani launched Reliance Jio and emerged as the largest company in this sector by providing 4G facility, leaving behind telecom companies running on 2G and 3G. Apart from this, he has also made a strong presence in the oil business through Reliance Petroleum, while now his emphasis is on green energy.
Debt-free nine months ago on the basis of Jio
Due to Mukesh Ambani’s wisdom, Reliance Industries Limited (RIL) raised Rs 1.15 lakh crore by selling less than a quarter of Jio Platforms’ stake and Rs 52,124.20 crore through rights issue in just 58 days. Due to this, the company became completely debt-free nine months before the scheduled time. Reliance had a debt of Rs 1,61,035 crore at the end of 31 March 2020 and the company had targeted to repay it by 31 March 2021. Mukesh Ambani said on this achievement that I have fulfilled the promise made to the shareholders of the company.