Anil Ambani was once richer than Mukesh Ambani, the Reliance Group boss has a current net worth of Rs...
Anil Ambani was once richer than Mukesh Ambani. (File).
Anil Ambani net worth: Anil Ambani does not have the same level of business success to his name as Mukesh Ambani. But did you know that the Anil Ambani– the younger son of Reliance founder Dhirubhai Ambani– was once richer than his illustrious older brother? Let us take a brief look at Anil Ambani's downfall, his recent revival, and his current net worth. What led to Anil Ambani's downfall?
Anil Ambani became the owner of key Reliance companies after the infamous split between the two brothers that resulted in splitting the business established by their legendary father. Anil Ambani bagged Reliance Communications (RCom), Reliance Capital, Reliance
Energy, and Reliance Natural Resources, while Mukesh Ambani received the group's oil, gas, petrochemicals, refining, and manufacturing businesses.
While Anil Ambani-led companies saw a rapid, early success, this honeymoon period did not last long as fortunes began dwindling due a multitude of factors, such as bad investments, cut-throat competition, especially in the telecom sector, and rapidly changing market dynamics.
Soon, Reliance Group became heavily indebted, resulting in Anil Ambani declaring bankruptcy while appearing online before a UK court in 2020. Anil Ambani was once wealthier than Mukesh Ambani
As per Forbes, Mukesh Ambani is the richest man in Asia today, and the 17th wealthiest globally, with a net worth of $108.1 billion, but there was a time when Anil Ambani was richer than his older brother.
During his peak, Anil Ambani was the sixth richest person on the planet with a net worth of $42 billion, wealthier than Mukesh Ambani. The massive jump in Anil Ambani's wealth came after successful listing of Reliance Power, one of the most profitable companies of his Reliance Group at the time.
In 2002, the Ambani brothers had a combined net worth of $2.8 billion, which climbed to $6 billion in 2004, and then $7 billion in 2005, before they parted ways and split the family business. Anil Ambani net worth
According to various media reports, Anil Ambani has a current net worth pegged at around $530 million, a gargantuan slide from his earlier days when he was among the richest in the world. Anil Ambani making a comeback
Recently, the fortunes of Anil Ambani have begun to turn as the embattled businessman's sons– Jai Anmol Ambani and Jai Anshul Ambani– have helped clear debts of several Reliance Group companies, making them debt-free.
Last year, Anil Ambani raised Rs 17,600 crore to further reduce the debt burden of his companies. According to media reports, only two listed companies of Anil Ambani's Reliance Group, Reliance Infra and Reliance Power, have managed to become completely debt-free, while most of group's other firms still owe substantial amounts to creditors.
Both Reliance Infra and Reliance Power, along with their subsidiaries, started repaying loans in September last year, and are now debt-free, as per reports. Anil Ambani began investing funds into both these companies in August 2024, and funds were raised through Foreign Convertible Currency Bonds (FCCB) and Preferential Issue.
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