Journals ‘Barclayhuron IndiaAccording to the report, the Ambani family has taken the first place in the list of the richest families which is India Of GDP is equal to 10 percent of
Reliance Industries, part of the Ambani family’s 25.75 trillion Indian rupee (239.47 billion pounds) empire, operates businesses in India such as petroleum refining, marketing, oil and gas, retail, telecommunications and other digital streaming services.
While Ambani and his wealth made headlines this year, it also caused outrage.
Mukesh Ambani The protracted wedding celebrations of 29-year-old son Anant began in March and finally culminated in a lavish three-day celebration in July.
World-famous singers such as Rihanna, Katy Perry, Andrea Bocelli and Justin Bieber have performed, and global celebrities have attended, from Kim and Khloe Kardashian to former world leaders Tony Blair and Boris Johnson.
According to reports, Justin Bieber was paid a million dollars to perform at a wedding function.
Rihanna was paid $80-90 million for the pre-wedding festivities, while Katy Perry took $40-50 million to perform during the second pre-wedding ceremony.
The exact cost of Ambani’s wedding celebrations is yet to be known, but Indian media and wedding organizers estimate that the wedding celebrations could cost more than $300 million.
If the two pre-wedding ceremonies are taken into account, The Guardian estimates that the total cost could reach $600 million.
After Ambani, the Bajaj family is second in the list with INR 7.13 trillion and the Birla family is third with INR 5.39 trillion.
According to the report, the combined wealth of these three top families is $460 billion, which is equal to Singapore’s GDP.
The ranking is based on the company’s net worth as on March 20, 2024 and the methodology excludes all private investments and movable assets while adjusting for cross-holdings to prevent double counting.
Who is Ambani?
67-year-old Mukesh Ambani, chairman and managing director of Reliance Industries, is Asia’s richest person with a net worth of $120 billion as of July 2024, according to Forbes.
His wife Nita Ambani is the founder and chairperson of Reliance Foundation. He was elected to join as an individual member by the International Olympic Committee in August.
The couple has three children. Akash Ambani, 38, is the chairman of Reliance Jio. His 38-year-old daughter Isha heads the retail division and Anant looks after the energy business.
How many properties does the Ambani family own?
The Ambani family home in Mumbai, named Antillia after an island in the Atlantic Ocean, is the second most expensive residence in the world after Buckingham Palace.
Located in South Mumbai’s posh Alta Mount Road, the 27-storey private apartment building is 568 feet tall and is worth $2 billion.
The building also features three helipads, a 168-car garage, multiple swimming pools, energy-saving gardens on four floors, a 50-seat movie theater and a fitness center.
The Ambani family also owns a 100-year-old ancestral mansion in Churwad in the western state of Gujarat’s Junagadh district, where Reliance founder Dhirubhai Ambani grew up.
Spread over 1.2 acres, the house has been restored and renovated several times over the years and parts of it are also open to tourists.
In Dubai, Mukesh Ambani owns a beach villa on Palm Jumeirah Island which he bought for $80 million in August 2022. The villa, which was gifted to Anant, is spread over three thousand square feet with 10 bedrooms and a 70 meter long private beach.
In 2021, Mukesh Ambani faced the ire of the local community when he bought Stoke Park in Buckinghamshire, then a popular golf and country club, and closed it for renovations.
This famous place has also featured in two James Bond films Goldfinger and Tomorrow Never Dies, Aishwarya Rai’s film Bride and Prejudice and Netflix’s hit series The Crown.
Stoke Park, once owned by Queen Elizabeth I, was bought for £57 million. .
The Financial Times reported after the local council raised concerns that the proposed renovations were allegedly illegal and that Ambani was not honoring the terms of the leasehold, which said it was a commercial property. Property is
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Management said the estate would be reopened and converted into a seven-star hotel with a new clubhouse and an improved golf course.
In 2022, Mukesh Ambani bought a controlling 73.4 percent stake in Mandarin Oriental Hotels in New York City for $98.2 million.
The 248-room hotel, which features a state-of-the-art fitness center and 75-foot lap pool overlooking the Hudson River, is the first choice of Hollywood stars and billionaires.
What are the other assets of Reliance?
In 2008, Reliance Industries bought the Indian Premier League (IPL) franchise Mumbai Indians for $10.12 million.
In 2017, the team became the first IPL franchise to cross $100 million in brand value and according to Forbes, the team is currently worth $1.3 billion.
The company also owns the Mumbai Indians women’s team that plays in the Women’s Premier League.
Other owned teams include the MI Cape Town team which is part of the SA20 league in South Africa, MI Emirates which competes in the International League in the United Arab Emirates and Major League Cricket franchise MI New York.
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2024-08-13 05:49:29
