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Mukesh Dhirubhai Ambani (born on 19 April 1957) is an Indian business magnate. He is the chairman and managing director of Indian conglomerate Reliance Industries, the largest private sector enterprise in India listed in Fortune 500 magazine. His personal stake in Reliance Industries is 48%. On the 17th of August 2011, Reliance Industries Ltd. lost its status as India's most valuable firm. RIL , for long the favourite of Indian investors, was knocked off its four-year perch as the country's most valuable company, as fears over slowing gas production dragged its stock down almost 30% in 2011 and led to the first full day of trade with state owned Coal India on top.

In 2010, he was named among the most powerful people in the world by Forbes in its list of "68 people who matter most" As of 2011, he is the second richest man in Asia and the ninth richest man in the world with a personal wealth of US$27 billion. In 2007, a strong rally in the Indian stock market and the appreciation of the Indian rupee boosted the market capitalisation of Reliance group companies, briefly making him the world’s richest man. According to Forbes Magazine forecasts, he is expected to regain the title of the richest man in the world in 2014.

He is a member of the board of directors of Bank of America Corporation and a present member of the international advisory board of the Council on Foreign Relations.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Mukesh Ambani."
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