KEY POINTS

  • Mukesh Ambani is an Indian billionaire businessman who made his fortune in oil refining and telecommunications
  • He ranks 10th in the list of richest people in the world as of 2021
  • He owns the most expensive residence in the world after Buckingham Palace

Mukesh Ambani may have inherited a massive business and fortune from his rags-to-riches father Dhirubhai Ambani, but he managed to carve his own path and grow the family empire enough to earn the title of Asia's richest person. Here's how much he is worth in 2021.

The Stanford Graduate School of Business alumnus, 63, owns what is believed to be the most expensive house in the world after Buckingham Palace: the Antilia in Mumbai, India. The 400,000-square-foot building is valued at $1-2 billion and located in one of the world's most expensive addresses, Altamount Road, also known as India's billionaire's row, according to Architectural Digest.

The 27-story property reportedly cost more than a billion dollars to construct. The mansion has rooms for its 600 servants, parking spaces for the family’s 168 cars on six floors, a 50-seat movie theater and a grand ballroom with crystal chandeliers. It also comes with three floors of gardens inspired by the famous Hanging Gardens of Babylon.

Ambani's car collection, which includes a bulletproof BMW 760i, is believed to collectively be worth more than $20 million, per South China Morning Post. The business magnate also flies around in his own Boeing Business Jet II. Further, he and his wife Nita own the Mumbai Indians cricket team, which is estimated to be worth more than $100 million.

But these are not so surprising if one looks at his net worth. Ranked no. 10 on Bloomberg Billionaires Index, which lists the richest people in the world, Ambani has a net worth of $81 billion as of 2021.

Ambani and his brother Anil were left with the Reliance Industries fortune after their father, yarn trader Dhirubhai Ambani, died of a stroke in 2002 without leaving a will. While it was a muddy fight between the brothers at the start, their mother stepped in and successfully split the Reliance founder’s businesses and wealth in half.

Ambani makes his fortune from oil refining. His wealth mostly comes from his stake in Reliance Industries, which is valued at $88 billion in terms of revenue, according to Forbes. The company owns the world’s largest oil refining complex, per its website. Ambani reportedly received a total of $2.5 billion in dividends as of June 2020 from his stake in the firm.

Oil isn’t Reliance's only income builder as Ambani also launched 4G phone service Jio. In 2016, the 4G wireless network dented the already competitive Indian mobile telecommunications industry by sparking a devastating price war, offering monthly plans for as low as $2, per Economic Times.

In 2020, during the peak of the pandemic, Ambani once again grew his fortune after selling some of his stakes in Jio to companies like Facebook and Google. He raised more than $20 billion in that effort, Forbes reported.

India's richest man Mukesh Ambani, whose Reliance is acquiring Future Group for $3.4 billion India's richest man Mukesh Ambani, whose Reliance is acquiring Future Group for $3.4 billion Photo: AFP / CHANDAN KHANNA