The Ambani brothers have enjoyed a grand status in the society ever since the Reliance Industries came in the limelight. But all may not be going well with the younger Ambani. Earlier this year, Anil Ambani told a UK court that his net worth was zero and that he was bankrupt.
It may come as shock to many, but there was once a time when Anil Ambani’s net worth was more than that of Mukesh Ambani. In 2005, Reliance was divided among the siblings. One year later in 2006, Anil’s net worth was estimated at Rs 550 crore more than Mukesh Ambani. He was also the third richest Indian after steel tycoon Lakshmi Mittal and Azim Premji.
But just one year later, in 2007, the wealth estimate of both the brother’s fluctuated drastically. While Anil Ambani’s net worth was $45 billion, Mukesh Ambani‘s net worth was $49 billion. Today, the numbers are entirely different and the gap between the two has widened incomparably.
According to the Bloomberg Billionaires Index, the realtime net worth of Mukesh Ambani is $51.4 billion while his younger brother is more of a millionaire.
Mukesh Ambani’s Reliance Industries’ core oil & gas business alone generates nearly $6 billion in net profit annually. While Anil Ambani lost money in his telecom venture and expanded into unrelated businesses like infrastructure and defense manufacturing which landed his firms in huge debt and they found it difficult to service the debt, leading to the collapse of many subsidiaries.
Today, Anil Ambani is being sued by three Chinese banks for a loan default of around Rs 5,000 crore by Reliance Communication, one of the subsidiaries of the ADAG group.
While both the brothers received a similar platform and headstart, only Mukesh Ambani proved to be a true businessman. His vision & perseverance have helped him reach so far and made him best in what he does.