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'{{short description|Indian businessman (born 1959)}} {{Use Indian English|date=June 2021}} {{Use dmy dates|date=October 2020}} {{Infobox officeholder | name = Anil D Ambani | image = Anil_Ambani_Reliance.jpg | caption = Ambani in 2012 | birth_date = {{Birth date and age|1959|06|04|df=yes}}<ref name=ET>{{Cite web|url=https://economictimes.com/news/company/corporate-trends/onetime-billionaire-says-hes-now-worth-nothing/amp_articleshow/74019910.cms|title=Anil Ambani: One-time billionaire Anil Ambani says he's now worth nothing|website=The Economic Times}}{{Dead link|date=October 2022 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> | birth_place = [[Bombay]], [[Bombay State]], India | nationality = <!-- Do not add nationality as it can be deduced from birth place as per WP:INFONAT --> | alma_mater = {{Unbulleted_list|[[Kishinchand Chellaram College|Kishinchand Chellaram College, Mumbai]]<br>([[Bachelor of Science|BS]])|[[University of Pennsylvania]]<br>([[Master of Business Administration|MBA]])}} | occupation = [[Businessman]] | office2 = [[Member of Parliament, Rajya Sabha]] | constituency2 = [[Rajasthan]] | termstart2 = {{Start date|2004||}} | termend2 = {{End date|2006||}} | spouse = {{Marriage|[[Tina Ambani]]|1991}} | children = 2 | parents = {{Unbulleted_list|[[Dhirubhai Ambani]] (father)|Kokilaben Ambani (mother)}} | relatives = {{Unbulleted_list|[[Mukesh Ambani]]<br>(brother)|[[Nigga Ambani|Nita M Ambani]]<br>(sister-in-law)}} }} '''Anil Dhirubhai Ambani''' (born 4 June 1959) is an Indian businessman, chairman and managing director of [[Reliance Group]] (a.k.a. [[Reliance ADA Group]]). The Reliance Group was created in July 2006 following a demerger from [[Reliance Industries Limited]]. He led several stocks listed corporations including [[Reliance Capital]],<ref>{{cite web|url=http://www.reliancecapital.co.in/|title=Reliance Capital|publisher=Reliance Capital|date=17 April 2014 |access-date=18 April 2014}}</ref> [[Reliance Infrastructure]],<ref>{{cite web|url=http://www.rinfra.com/|title=Reliance Infra|publisher=Reliance Infra|date=17 April 2014|access-date=17 April 2014}}</ref> [[Reliance Power]] and [[Reliance Communications]].<ref>{{cite web|url=http://www.rcom.co.in/Rcom/personal/home/index.html|title=Reliance Communication|publisher=Reliance Communication|date=17 April 2014|access-date=17 April 2014|archive-date=3 April 2019|archive-url=https://web.archive.org/web/20190403162305/https://rcom.co.in/Rcom/personal/home/index.html|url-status=dead}}</ref> Ambani, once the sixth richest person in the world, declared before a UK court in February 2020 that his net worth is zero and he is bankrupt, although the veracity of that claim is in question. His current net worth is 1 billion dollar as of March 2024.<ref>{{cite news|url=https://timesofindia.indiatimes.com/business/india-business/anil-ambani-tells-uk-court-his-net-worth-is-zero-despite-fleet-of-cars-private-jet-and-yacht/articleshow/74017394.cms|title=Onetime Billionaire Says He's Now Worth Nothing|work=The Economic Times|date=8 February 2020 }}</ref> He served in the [[Rajya Sabha]], the upper house of the [[Parliament of India]] from [[Uttar Pradesh]] as an [[Independent politician|Independent]] MP between 2004 and 2006.<ref>{{cite web | url=https://economictimes.indiatimes.com/anil-ambani-to-stand-for-rajya-sabha/articleshow/742646.cms | title=Anil Ambani to stand for Rajya Sabha | work=[[The Economic Times]] | date=16 June 2004 | access-date=21 June 2020}}</ref><ref>{{cite web | url=https://www.outlookindia.com/newswire/story/anil-ambani-quits-as-rajya-sabha-mp-amid-office-of-profit-row/372762 | title=Anil Ambani quits as Rajya Sabha MP amid office of profit row | work=Outlook | access-date=21 June 2020 |date=25 March 2006}}</ref> ==Life and education== Anil Ambani is the youngest son of the founder of [[Reliance Industries]], [[Dhirubhai Ambani]] and his wife Kokilaben Ambani. Ambani has said that his father would lead the brothers on "incentive-oriented outings" where they would be rewarded with a box of mangoes for a 10-km (6 mile) hike, but also punished them for acting out in front of guests.<ref name="sibling_rivalry">{{cite news |last1=Altstedter |first1=Ari |last2= Sanjai|first2= P.R. |title=Mukesh Ambani Won the World's Most Expensive Sibling Rivalry |url=https://www.bloomberg.com/news/features/2020-06-03/mukesh-ambani-won-the-world-s-most-expensive-sibling-rivalry |access-date=7 June 2020 |work=Bloomberg News |date=3 June 2020}}</ref> He earned his [[Bachelor of Science]] degree from [[Kishinchand Chellaram College]] and received a Master in Business Administration at the [[Wharton School|Wharton School of the University of Pennsylvania]] in 1983.<ref>{{cite web|url=https://www.wharton.upenn.edu/wp-content/uploads/125anniversaryissue/ambani.html|title=Wharton Alumni Magazine: 125 Influential People and Ideas: Anil D. Ambani|website=wharton.upenn.edu|access-date=7 February 2019|archive-date=16 December 2019|archive-url=https://web.archive.org/web/20191216224840/https://www.wharton.upenn.edu/wp-content/uploads/125anniversaryissue/ambani.html|url-status=dead}}</ref> ==Business career== Ambani's father Dhirubhai died in 2002 without leaving a clear succession plan. After bickering between Anil and his brother Mukesh, their mother Kokilaben mediated and split the family owned businesses between the two brothers.<ref name="Banerjee2019">{{cite book|author=Robin Banerjee|title=Who Blunders and How: The Dumb Side of the Corporate World|chapter-url=https://books.google.com/books?id=SbWnDwAAQBAJ&pg=PT30|date=5 August 2019|publisher=SAGE Publications|isbn=978-93-5328-580-7|chapter=Family Business Falacy}}</ref> Anil Ambani received parts of Reliance Group with interests in [[Telecommunication|telecom]], entertainment, financial services, power and infrastructure.<ref>{{cite web|url=http://www.rediff.com/money/2002/jul/07amb1.htm |title=The Ambani Achievements|work= Rediff.com|date=7 July 2002|access-date=16 February 2014}}</ref> Ambani is also credited with India's largest [[IPO]], that of [[Reliance Power]], which in 2008 was subscribed in less than 60 seconds, the fastest in the history of Indian capital markets to date.<ref>{{cite web|url=http://www.exhibitmag.com/content/anil-ambani |title=Anil Ambani |work=EXHIBIT MAGAZINE |date=22 May 2014 |url-status=dead |archive-url=https://web.archive.org/web/20150206115041/http://www.exhibitmag.com/content/anil-ambani |archive-date=6 February 2015 }}</ref> In 2005 Ambani made his debut in the entertainment industry with an acquisition of a majority stake in Adlabs Films, a company with interests in film processing, production, exhibition and digital cinema. The company was renamed [[Reliance MediaWorks]] in 2009.<ref>{{cite news|title=Reliance Cap buys 51% in Adlabs for Rs 360 crore|url=http://articles.economictimes.indiatimes.com/2005-07-01/news/27503817_1_reliance-capital-adlabs-films-manmohan-shetty|access-date=11 February 2015|work=The Economic Times|agency=Bennett, Coleman & Co. Ltd|date=1 July 2005}}</ref><ref>{{cite journal|title=The Reliance-Spielberg Deal: Anil Ambani's Next Blockbuster?|journal=Knowledge@Wharton|date=2 October 2008|volume=The Wharton School, University of Pennsylvania|url=http://knowledge.wharton.upenn.edu/article/the-reliance-spielberg-deal-anil-ambanis-next-blockbuster/|access-date=11 February 2015}}</ref><ref>{{cite news|title=Adlabs Films to be renamed Reliance MediaWorks|url=http://www.livemint.com/Consumer/9fjnwA2J9A7tzGItFVOWFP/Adlabs-Films-to-be-renamed-Reliance-MediaWorks.html|access-date=11 February 2015|work=Live Mint|agency=HT Media|date=4 September 2009}}</ref> In 2008 a joint venture worth US$1.2 billion with [[Steven Spielberg]]'s production company [[DreamWorks Pictures|DreamWorks]] cast Ambani's entertainment business on to a global platform.<ref>{{cite news|title=DreamWorks to Receive Funds From Reliance|url=https://www.wsj.com/articles/SB10001424052702303815404577336502177912184|access-date=11 February 2015|work=The Wall Street Journal|agency=News Corporation|date=10 April 2012}}</ref> He has contributed to the production of several Spielberg films, including the [[Academy Awards|Academy Award]]-winning [[Lincoln (2012 film)|''Lincoln'']].<ref>{{cite web|title=Reliance Entertainment [in]|url=https://www.imdb.com/company/co0336601/?ref_=ttco_co_3|publisher=[[IMDb]]|access-date=11 February 2015}}</ref><ref>{{cite web|title=Lincoln (2012) - Company credits|url=https://www.imdb.com/title/tt0443272/companycredits?ref_=tt_dt_co|publisher=[[IMDb]]|access-date=11 February 2015}}</ref> Ambani gained notoriety as one of the fastest destroyers of shareholder wealth in the last 100 years with the combined group market cap declining by 90% since the formation of the [[Reliance ADA Group]].<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/telecom/telecom-news/dcc-wants-trai-to-review-stand-on-spectrum-pricing-quantum/articleshow/69781027.cms|title=DCC wants TRAI to review stand on spectrum pricing, quantum|date=14 June 2019|newspaper=The Economic Times}}</ref><ref>{{Cite web|url=https://www.businesstoday.in/current/corporate/anil-ambani-falls-off-billionaire-club-equity-wealth-crashes-from-usd-42-billion-to-usd-523-million/story/356735.html|title=Anil Ambani falls off billionaire club; equity wealth crashes from $42 billion to $0.5 billion|website=businesstoday.in|date=17 June 2019 }}</ref> In early 2019, a court in Mumbai held Ambani in criminal contempt for non-payment of personally guaranteed debt Reliance Communications owed to Swedish gear maker [[Ericsson]]. Instead of jail time, the court gave him a month to come up with the funds. At the end of the month, Ambani was bailed out by his elder brother, [[Mukesh Ambani]].<ref name="sibling_rivalry" /><ref>{{Cite news|date=2019-03-19|title=Mukesh Ambani: India's richest man helps his brother avoid jail|language=en-GB|work=BBC News|url=https://www.bbc.com/news/business-47620861|access-date=2022-02-11}}</ref> In April 2019, three ADAG Companies reached standstill agreement with Franklin Templeton after secured NCD default. This led to SEBI changing mutual fund regulation of reducing unlisted NCDs exposure to 10% and making standstill agreement void. In aftermath, FT India didn't sell the pledged securities and wound 6 debt funds affecting 300,000 investors. In February 2020, Anil Ambani was locked in a legal battle with 3 Chinese banks. He was asked to set aside {{USD|100 million}} by the court which led him to make the statement that his net worth is currently zero after considering his liabilities.<ref>{{Cite news|title=One-time billionaire Anil Ambani says he's now worth nothing|work=The Economic Times|url=https://economictimes.indiatimes.com/news/company/corporate-trends/onetime-billionaire-says-hes-now-worth-nothing/articleshow/74019910.cms?from=mdr|access-date=2020-10-06}}</ref> The dispute still rages on with the UK court ordering him to pay the 3 Chinese banks to the tune of {{USD|716 million}}.<ref>{{Cite web|date=2020-06-24|title=UK court order to pay 3 China banks: Anil Ambani denies giving any personal guarantee|url=https://www.financialexpress.com/industry/uk-court-order-to-pay-3-china-banks-anil-ambani-denies-giving-any-personal-guarantee/2001496/|access-date=2020-10-06|website=The Financial Express|language=en-US}}</ref><ref>{{Cite web|date=2020-07-20|title=Mukesh vs Anil: how the Ambani brothers' wealth soared and dipped|url=https://www.scmp.com/magazines/style/celebrity/article/3093874/mukesh-vs-anil-why-did-one-ambani-brother-go-bankrupt|access-date=2022-02-11|website=South China Morning Post|language=en}}</ref> In October 2021, Anil Ambani was named in the [[Pandora Papers]] along with his brother Mukesh.<ref>{{Cite news|last=Indian|first=Express|date=4 October 2021|title=After Panama, it's Pandora: facing regulatory heat, elite Indians find new ways to ringfence wealth in secret havens|language=English|work=[[Indian Express]]|url=https://indianexpress.com/article/express-exclusive/pandora-papers-exclusive-how-elite-indians-ringfence-wealth-7550012/|access-date=4 October 2021}}</ref> In January 2023, the [[Bombay High Court]] questioned the Income Tax Department's accusation of tax evasion against Anil Ambani after a petition by him challenged the decision of the notice issued by the [[Income Tax Department|{{Abbr|IT|Income Tax}} department]].<ref>{{cite web |title=Anil Ambani case: Bombay HC asks I-T dept how Black Money Act can have retrospective effect. |url=https://www.mid-day.com/mumbai/mumbai-news/article/anil-ambani-case-bombay-hc-asks-i-t-dept-how-black-money-act-can-have-retrospective-effect-23264583 |website=Mid-day |date=9 January 2023 |access-date=February 22, 2023}}</ref> ==Personal life== Ambani belongs to a [[Gujarati people|Gujarati]] family which hails from the village of [[Chorwad]] near [[Junagadh]] in the [[Kathiawar]] region of [[Gujarat]] state.<ref name=itn>{{cite news|url=https://www.indiatvnews.com/business/india/top-10-gujarati-billionaires-3732.html?page=3|title=Top 10 Gujarati billionaires|date=2015-08-01|publisher=[[India TV News]]}}</ref> He is the youngest son of the legendary textile entrepreneur [[Dhirubhai Ambani]] and his wife, [[Shrimati|Smt]]. Kokilaben Ambani, a devoted home-maker who founded the [[Kokilaben Dhirubhai Ambani Hospital]] in suburban Mumbai. Anil is one of four children. He has an older brother, [[Mukesh Ambani]], and two sisters, Smt. Nina Kothari (wife of late Bhadra Shyam Kothari) and Smt. Deepti Salgaocar (wife of Dattaraj Salgoncar).<ref>{{Cite web|url=http://www.indiatimes.com/culture/who-we-are/biggest-secrets-of-ambani-family-in-pics-277696.html|title=Biggest secrets of Ambani family in pics|date=2015-03-18|website=The Times of India|language=en|access-date=2019-08-12}}</ref> Anil Ambani is married to the actress [[Tina Munim]].<ref name="ThakurtaGhosh2014">{{cite book|author1=Paranjoy Guha Thakurta|author2=Subir Ghosh|author3=Jyotirmoy Chaudhuri|title=GAS WARS: Crony Capitalism and the Ambanis|url=https://books.google.com/books?id=rMM3AwAAQBAJ&pg=PT4|date=30 March 2014|publisher=Paranjoy Guha Thakurta|isbn=978-81-928551-3-4}}</ref> He married her after facing much resistance from his family, due to the fact that she came from the world of fashion and glamour, and her lifestyle choices before marriage had been unconventional. Nevertheless, the couple have had a stable marriage and have two sons, Jai Anmol Ambani and Jai Anshul Ambani.<ref name="dnaindia sons">{{cite web|title = Tina Ambani got a third baby|url=http://www.dnaindia.com/entertainment/report-tina-ambani-s-got-a-third-baby-1248852|website=Daily News and Analysis|date=18 April 2009}}</ref> As of 2010, Ambani and his family reside at The Sea Wind, a 14-story building in Mumbai.<ref name=Go2BSchool>{{cite web|title=Anil Dhirubhai Ambani: The name says it all!|website=Go2BSchool|date=16 July 2010|url=http://go2bschool.com/leaders/anil-dhirubhai-ambani-the-name-says-it-all-2/|url-status=dead|archive-url=https://web.archive.org/web/20170728121511/http://go2bschool.com/leaders/anil-dhirubhai-ambani-the-name-says-it-all-2/|archive-date=28 July 2017}}</ref> On 20 February 2022, Ambani's elder son, Jai Anmol, married Krisha Shah, daughter of the late Nikunj Shah, a Mumbai-based entrepreneur.<ref>[https://www.mensxp.com/entertainment/celebrities/102283-anil-ambani-son-jai-anmol-ambani-khrisha-shah-wedding-pictures.html Wedding of Jai Anmol]</ref> Ambani is a [[teetotalism|teetotaler]] and a [[vegetarian]]. As an avid jogger, he also runs [[marathons]].<ref name=Go2BSchool /> ==Awards and recognition== * Conferred the 'Businessman of the Year 1997' award by India's leading business magazine [[Business India]], December 1998.<ref>{{cite news|url=http://www.business-standard.com/article/management/anil-d-ambani-vice-chairman-managing-director-reliance-104072001043_1.html |title=Businessman of the Year 1997 |newspaper=Business Standard|date=20 July 2004 |last1=Bureau |first1=Our }}</ref> * Voted 'the Businessman of the Year' in a poll conducted by [[The Times of India]] – TNS, December 2006.<ref>{{cite web|url=http://in.reuters.com/finance/stocks/officerProfile?symbol=RLCM.NS&officerId=76505 |archive-url=https://web.archive.org/web/20140407091847/http://in.reuters.com/finance/stocks/officerProfile?symbol=RLCM.NS&officerId=76505 |url-status=dead |archive-date=2014-04-07 |title=Reliance Communications Ltd (RLCM.NS) |work=Reuters}}</ref> * Voted the 'Best role model' among business leaders in the biannual Mood of the Nation poll conducted by [[India Today|India Today magazine]], August 2006.<ref>{{cite web|url=http://www.nilacharal.com/enter/celeb/ambani.asp|title=Anil Ambani|publisher=nilacharal.com|access-date=2 April 2014|archive-date=8 April 2014|archive-url=https://web.archive.org/web/20140408124130/http://www.nilacharal.com/enter/celeb/ambani.asp|url-status=dead}}</ref> * Conferred 'the CEO of the Year 2004' in the [[S&P Global Platts|Platts Global Energy]] Awards.<ref>{{cite web|url=http://www.rediff.com/money/2004/dec/11ril3.htm |title=Anil Ambani is Platts CEO of the Year|work=Rediff.com|access-date=11 December 2004}}</ref> * Conferred 'The Entrepreneur of the Decade Award' by the Bombay Management Association, October 2002.<ref>{{cite book|url=https://books.google.com/books?id=NVGI21s5lncC&q=anil+ambani+Conferred+'The+Entrepreneur+of+the+Decade+Award'+by+the+Bombay+Management+Association,+October+2002&pg=PA411 |title=Business Ethics and Corporate Governance|isbn=9788176295925|last1=Bhatia|first1=S. K.|year=2004|publisher=Deep & Deep Publications }}</ref> * Awarded the First Wharton Indian Alumni Award by the [[Wharton India Economic Forum]] (WIEF) in recognition of his contribution to the establishment of Reliance as a global leader in many of its business areas, December 2001.<ref>{{cite web|url=http://www.the-south-asian.com/dec2001/Wharton%20Economic%20Forum.htm |title=Wharton India Economic Forum|publisher=the-south-asian.com}}</ref> * Selected by [[Asiaweek|Asiaweek magazine]] for its list of 'Leaders of the Millennium in Business and Finance' and was introduced as the only 'new hero' in Business and Finance from India, June 1999.<ref>{{cite web|url=http://www.rediff.com/money/1999/jun/07ambani.htm |title=Anil Ambani makes it to Asiaweek's hall of fame|work=Rediff.com}}</ref> ==Allegations of political connections== In 2018, India's principal opposition party, [[Indian National Congress]], accused [[Prime Minister of India|Prime Minister]] [[Narendra Modi]] of favouring Anil Ambani's defence manufacturing company over [[Hindustan Aeronautics Limited|HAL]], a public sector enterprise, in a fighter aircraft deal worth {{INRConvert|58,000|c|lk=|year=2018}} with French manufacturing firm [[Dassault]]. Ambani, several of whose companies are debt-ridden, has denied all charges of benefiting from [[crony capitalism]]. In factual terms, Reliance Defence stood to get just over 3 per cent of the {{INRConvert|30,000|c|year=2018}} Dassault Aviation offsets contract, contrary to the impression that it was to be the biggest beneficiary of the Rafale fighter jet deal.<ref>{{Cite news|last=Pubby|first=Manu|title=Rafale deal: Reliance Defence to get 3% of Rs 30,000 crore offset|work=The Economic Times|url=https://economictimes.indiatimes.com/news/defence/reliance-defence-to-get-3-of-rs-30000-crore-offset/articleshow/66228334.cms|access-date=2020-10-06}}</ref> In a possibly related controversy, one of his businesses partly financed a French film in which former [[President of France|French president]] [[François Hollande|Francois Hollande]]'s then-partner had acted around the same time the aircraft deal was being negotiated.<ref>{{cite web|url=https://indianexpress.com/article/india/rafale-controversy-reliance-entertainment-francois-hollande-bjp-narendra-modi-india-france-5376140/ |title=Rafale row: Reliance Entertainment confirms it paid 1.4 million Euros for film by Hollande's partner through partner|date=27 September 2018|work=The Indian Express}}</ref> ==References== {{Reflist}} ==External links== {{Commons category}} * [https://aaajjtak.com/?p=680 profile]{{Dead link|date=August 2023 |bot=InternetArchiveBot |fix-attempted=yes }} at [https://aaajjtak.com/ aaajjtak] * [http://www.relianceadagroup.com/ada/chairman.html Profile] {{Webarchive|url=https://web.archive.org/web/20160915005729/http://www.relianceadagroup.com/ada/chairman.html |date=15 September 2016 }} at [[Reliance Anil Dhirubhai Ambani Group|Reliance ADAG]] * [https://www.forbes.com/profile/anil-ambani Profile] at [[Forbes]] * {{NYTtopic|people/a/anil_d_ambani}} * {{Guardian topic}} * [http://timesofindia.indiatimes.com/topic/Anil-Ambani Anil Ambani]: collected news and commentary at ''[[The Times of India]]'' {{Reliance Anil Dhirubhai Ambani Group}} {{Authority control}} {{DEFAULTSORT:Ambani, Anil}} [[Category:1959 births]] [[Category:Ambani family|Anil]] [[Category:Gujarati people]] [[Category:Indian chief executives]] [[Category:Indian industrialists]] [[Category:21st-century Indian philanthropists]] [[Category:Living people]] [[Category:University of Mumbai alumni]] [[Category:Wharton School of the University of Pennsylvania alumni]] [[Category:Businesspeople from Mumbai]] [[Category:20th-century Indian businesspeople]] [[Category:Reliance Group people]] [[Category:Rajya Sabha members from Uttar Pradesh]] [[Category:Independent politicians in India]] [[Category:Former billionaires]] [[Category:Hill Grange High School alumni]] [[Category:People named in the Pandora Papers]] [[Category:21st-century industrialists]] [[Category:20th-century Indian philanthropists]] [[Category:People from Mumbai]]'