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Mukesh Ambani, Asia’s Wealthiest Man Rivals Amazon In E-Commerce

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Asia’s richest man is Mukesh Ambani, and he is worth an estimated $42.7 billion. His family, the Ambanis are also the richest family in Asia.


The Ambanis reside in a 27-story skyscraper in Mumbai. Estimates are, it cost $1 billion to build, making it one of the most expensive homes in the world.


Mukesh Ambani amazon e-commerce
Mukesh Ambani, India’s richest man


The Ambani family owns Reliance Industries Limited, a conglomerate with investments from oil to telecoms. Mukesh Ambani is the largest shareholder and effectively the richest man in Asia, according to the Bloomberg Billionaires Index.


Mukesh’s daughter, Isha Ambani, recently wedded Anand Piramal, 33, heir to a real estate and pharmaceutical business, in December 2018 at the family mansion.

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Reliance Industries Limited is a Fortune Global 500 company and its also India’s second most valuable company by market value.


Mukesh is ranked 37th in Forbes World’s Most Powerful People List. Forbes also considers him one of the 68 people who matter most. Also, he is the Chairman of the Board of Indian Institute of Management Bangalore, one of the best business schools in India.

Mukesh Ambani looks to rival Amazon in e-commerce

Mukesh’s investments into retail, 4G wireless broadband and media furthermore, signals Reliances future growth and direction.


The Ambanis got into telecom in the ’90s by bidding for cellular licenses. Mukesh Ambani has a Bachelor’s degree in Chemical Engineering from the University of Mumbai and was pursuing his MBA from Stanford University before he leaving to assist his father in the construction of a polyester filament yarn plant.


Reliance Industries’ crude oil refinery in Jamnagar, Gujarat, is one of the largest in the world with 2% of global processing capacity. It also constitutes 15% of India’s exports, 4% of its stock market capitalization and 3% of its tax revenues and is the country’s largest private corporate investor.


The company began testing its online shopping portal, moving a step closer to billionaire Mukesh Ambani’s goal of setting up a digital platform to take on e-commerce giant Inc. in India.


JioMart, open only to customers who pre-register, promises to give over 50,000 grocery products, free home delivery and also a return policy that asks no questions. It is currently available in only three neighborhoods surrounding Mumbai, according to the website.


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