Dhirubhai Ambani was the founder of Reliance Industries, one of the largest corporations in the world. He was a businessman from a small village in Gujarat. He was also the first Indian to successfully conquer the global business world.
Time climbing stairs
Dhirubhai Ambani’s parents were both teachers. He came from a small village in Gujarat called Chorwad. He was born on December 28, 1932. At age seventeen, Dhirubhai migrated to Yemen, where he began working at a petrol pump. He returned to India when he was twenty. During his time in Yemen, he had a hard time climbing stairs.
As a young man, Dhirubhai wanted to become a businessman. He sold goods on the weekends. He dreamed of having his own company. When he was older, he joined a transcontinental trading firm. He made his way up the ranks, eventually becoming a filing manager. Dhirubhai never backed down from his ambitions. He offered a lower profit margin than his competitors, but always offered quality products.
The textile industry
After Dhirubhai’s father passed away, he inherited his father’s business. At that point, he started to invest his own money. The investment was successful. His first company was a petrochemical company, but he soon moved into the textile industry. The firm became Reliance Commercial Corporation, a polyester company. He was able to expand into other areas, including oil and gas exploration. He turned his company into a colossus, and it was known as a great businessman in the business community.
Dhirubhai Ambani took the company public in 1977. The company then traded on the Bombay Stock Exchange. The company attracted more than 50,000 investors. The first IPO attracted a lot of attention, as well as the attention of the government. At the time, the stock market was not well-known to the general public.
The family business
Dhirubhai’s sons, Mukesh and Anil, also became involved in the family business. Both started out working at the company. They each had different ideas about how the business should be run. They fought acrimoniously, and the company was divided between the brothers. Anil took asset-management and power-generation, while Mukesh stayed in the petroleum and textiles industry.
Dhirubhai Ambani died in 2002 at the age of 76. He was given the Padma Vibhushan award, which is the second highest civilian award in the country. His death was a great loss, but it is a reminder of the power ordinary people can have. Dhirubhai’s life continues to be celebrated.
Today, Dhirubhai Ambani’s children and grandchildren work for the company. They have a combined fortune of over $30 billion. They are one of the wealthiest families in Asia. Their holdings include Reliance Anil Dhirubhai Ambani, Reliance Retail Ltd. and Jio. Anil Ambani is a major investor in Reliance Jio, the mobile operator that sparked a price war in India.
Reliance is the largest retailer in India, and it also deals in petrochemicals and refining. The company has more than 30,000 shareholders, but no hall in Mumbai can handle such a crowd. The annual general meetings are often streamed on television and are attended by thousands.