Dhirubhai Ambani Net Worth at Death – Salary, Income, Wife

Dhirubhai Ambani Net Worth 

Dhirubhai Ambani had an estimated net worth of $96.5 billion at death. He is an Indian industrialist, the founder of Reliance Industries, a huge petrochemical, communications, energy, and textile conglomerate that was India’s largest exporter and the first privately held Indian company in the Fortune 500.

In the late 1950s, Ambani started a spice trading company called Reliance Commercial Corporation. He quickly expanded his business to other commodities, following a strategy of offering higher quality goods while earning lower profits than his competitors. His company expanded rapidly.

Ambani turned to synthetic textiles after deciding that raw materials had taken the company as far as it could go. In 1966, he made his first foray into backward integration by opening the first Reliance textile mill. He gradually built Reliance into a petrochemical giant and later added plastics and power generation to the company’s businesses.

He took Reliance Industries public in 1977, and by 2007 the family’s combined wealth was $60 billion, making the Ambanis the second richest family in the world. Ambani died of a stroke on July 6, 2002.

To calculate the net worth of Dhirubhai Ambani, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Dhirubhai Ambani
Net Worth: $96.5 Billion
Monthly Salary: $10 Million
Annual Income: $500 Million
Source of Wealth: Entrepreneur

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Early Life

Dihrubhai Ambani was born in the village of Chorwad in the district of Junagarh to Hirachand Govardhandas Ambani and Jamanaben in a Modh baniya family. His father was a schoolteacher, and his mother was a housewife.

Raised in frugal living conditions, he was aware of the inadequacies that the family faced as a result of his father’s meager income and large expenses from a young age.

He was elected General Secretary of the Junagarh State Union while still in school. He organized a rally on Indian Independence Day, defying the Nawab, the state’s ruler.

Following that, he joined the Praja Mandal Movement, which organized rallies to bring about constitutional reforms in the state. As a result, the Nawab fled to Pakistan, and Junagarh became a part of the Indian Union. His passion and active political involvement drew the attention of political leaders.

In 1949, a new Socialist party emerged from the Congress, of which he was a member. He began campaigning for his preferred candidates in Junagarh for the upcoming municipal elections, which resulted in their victory.

Though he was offered a position in the Party, he declined in order to pursue his true calling.

Leaving politics aside, he focused on academics and completed his matriculation exams. However, due to his father’s ill health and the family’s impoverished living situation, he had to forego his education and accept a job offer in Aden.

Career

In Aden, he took a job as an office clerk with A. Besse & Co, the largest transcontinental trading company east of Suez. The company dealt in all kinds of goods for European, American, African, and Asian companies.
Curious to learn the tricks of the trade, he soon found himself working simultaneously for a Gujarati trading company. There he learned accounting, bookkeeping, and how to prepare shipping documents and papers. He also learned how to deal with banks and insurance companies.

Soon he started speculative trading in all kinds of commodities and made lucrative deals, which led his competitors to believe that he had a knack for trading. Then he was promoted to the oil filling station at the newly built port. It was there that the thought of building a refinery first shaped his dream.

Meanwhile, the Yemeni independence movement was limiting opportunities for Indians living in Aden. So he moved back to India in 1958 and began looking for business opportunities in Bombay.

Unable to make large investments, he set up as a spice trader under the name Reliance Commercial Corporations. He soon began trading in spices, sugar, jaggery, betel nuts, etc. in the Gulf Emirates. He focused on low profits, large quantities and high quality.

Not wanting to settle so easily, he soon shifted his focus to yarn trading, which involved high risks but also promised richer dividends. He started on a small scale and soon did big business in yarn, so much so that he was elected a director of the Bombay Yarn Merchants Association.

His foresight and judgment helped him make two particularly large deals in the yarn market, which gave him the capital he needed for the future Reliance Textiles. He soon put his idea of setting up a manufacturing plant into action by building a textile factory in Naroda, Ahmedabad, in 1966.

Every weekend, he flew from Bombay to Ahmedabad to check on the progress of the factory’s construction and troubleshoot workers’ problems. His main goal was to produce the best quality nylon as quickly as possible and in large quantities.

He tripled the workforce to speed up the construction of the factory. However, the decline in the value of the rupee caused project costs to skyrocket. However, not afraid to take risks, he continued with the project.

By August 1966, construction was completed and equipment and machinery were installed to meet the September 1 deadline for the start of production. In the meantime, he hired 35 workers from Calcutta, Indore and Bombay to work in the factory. Production began as planned on September 1, 1966, but it took a few months to stabilize.

In January 1967, his dreams began to come true when the Naroda factory started producing nylon of the finest quality; but the new venture had no takers in the market because wholesalers refused to buy fabric from Reliance at the behest of the established major factory owners. 

Refusing to admit defeat, he soon took to the streets and began selling his wares directly to retailers. His bold attitude and courageous behavior impressed everyone, and soon the market for “Vimal”, the name of his fabric, grew and began to expand. In no time, it became the finest and best-selling fashion fabric of its time.

The increasing demand led to higher sales and greater profits. With the surplus money, he began to expand his factory, purchasing new machinery and better facilities for the workers. Soon the Reliance family grew to size and prosperity with the influx of a host of new and experienced workers.

By 1972, Reliance was large and thriving – a stark contrast to its beginnings. Three years later, the company received an award of excellence from the World Bank, which accelerated the modernization and expansion of all its facilities.

In 1981, his elder son Mukesh joined the company and initiated Reliance’s backward integration, moving from textiles to polyester fibers and on to petrochemicals, petroleum refining, and oil and gas exploration and production.

In 1983, his younger son Anil Ambani joined the company and assumed the post of Chief Executive Officer at Naroda.

Between 1984 and 1996, the plant underwent a major transformation as computer-controlled and high-tech machinery replaced the old traditional machinery, making Reliance the largest composite plant in the country.
Over time, the Reliance industry diversified into other sectors such as telecommunications, information technology, energy, power, retail, textiles, infrastructure services, capital markets, and logistics.

Learn More: Top 30 Richest People In The World

Awards & Achievements

He received numerous honors for his excellent business acumen and never-say-die spirit in building Reliance into one of the country’s and the world’s most powerful business empires, including the Dean’s Medal, Lifetime Achievement Award for Corporate Excellence, and Man of the Century award. He was also named a ‘Man of the Century’ by the Federation of Indian Chambers of Commerce and Industry (FICCI).

He received the ABLF Global Asian Award posthumously at the Asian Business Leadership Forum Awards.

Personal Life & Wife

In 1954, he married Kokilaben. Anil Ambani, Mukesh Ambani, Nina Kothari, and Deepti Salgaonkar are the couple’s four children.

After suffering a stroke in 1986, he relinquished control of the company to his sons.

He died on July 6, 2002, as a result of a major stroke.

Dhirubhai Ambani Quotes

Think big, think fast, think ahead. Ideas are no one’s monopoly.

 

Challenge negative forces with hope, self-confidence and conviction. I believe that ambition and initiative will ultimately triumph.

 

If you don’t build your dream, someone else will hire you to help them build theirs.

 

Between my past, the present and the future, there is one common factor: Relationship and Trust. This is the foundation of our growth.

 

Often people think opportunity is a matter of luck. I believe opportunities are all around us. Some seize it. Others stand and let it pass by.

 

Meeting the deadlines is not good enough, beating the deadlines is my expectation.

 

My commitment is to produce at the cheapest price and the best quality.

View our larger collection of Dhirubhai Ambani quotes.

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