Reliance's scale in telecom and retail propel Mukesh Ambani to 13th place in the global billionaire sweepstakes
Invest and wait patiently. that’s the mantra of India’s richest and world’s 13th wealthiest Mukesh Ambani, who spent the last decade sowing the seeds of his consumer businesses in telecom and retail.
Over the last 18 months he’s reaped rich rewards as investors begin to price in potential earnings with the stock up by 95 percent. In effect they’re betting that Ambani has the smarts to effectively deploy the earnings from his petrochemicals operation and position ‘future proof’ Reliance Industries. (Reliance Industries owns Network18, publisher of Forbes India.)
Just like he did with the petrochemicals business in building his new businesses, Ambani has unabashedly gone for scale.
(This story appears in the 12 April, 2019 issue of Forbes India. To visit our Archives, click here.)