Owner of $42 Billion in a Serious Problem!

The world is constantly changing. Everything has a beginning and an end, and things that were there yesterday may disappear tomorrow. Accepting this reality helps us to live in the present time and place more peacefully, adoring the things we have in our grasp, without worrying about whether we might lose them or not. The journey from rise to fall cover the lives of many people who have earned money, fame, and then go on to fall.

Dhirubhai Ambani, father of Mukesh and Anil Ambani

One such story is told by India’s billionaire Anil Ambani. Anil’s father Dhirubhai Ambani was a huge business man who founded Reliance Telecom and Reliance Group and moreover made it a big business group. Dhirubhai Ambani had two sons, Mukesh Ambani and Anil Ambani. Dhirubhai Ambani left the world in 2002, and distributed his property to both sons. Reliance Telecom Company, TV channel and production was given to Anil Ambani. On the other hand, he made Mukesh Ambani the new owner of Oil & Gas Company, Construction Company, and Alliance Petrochemicals. In 2004 Anil Ambani also added Reliance Capital, Reliance Energy and Reliance Natural Resources to its group.

Anil also bought Adalib Movie Production Group in 2005 to further develop his business and in 2008 Anil signed a $1.2 billion contract with American producer Steven Spielberg’s production house, DreamWorks. He always wanted to be above his brother Mukesh in all respects and succeeded in this endeavor when according to a 2008 Forbes report, Anil Ambani’s total assets were above $ 42 billion and at that time Anil Ambani was at the peak of his business and had become the richest person in India.

But then the year 2014 came and Anil Ambani’s business started to fall. Anil’s power and energy companies took a huge loan from banks to meet the power consumption, but according to the plans made by these companies, the power plant did not generate electricity. As a result, Anil’s power and energy sector companies had to face huge losses. When it came time to repay the bank loan, the business situation was unable to pay it. Due to which, Anil sold Reliance Energy and Reliance Power.

Anil Ambani’s business got another big hit from his own home when Mukesh Ambani launched the telecom company, Geo in 2016 which stopped the profitable companies Airtel, Idea and Vodafone, owned by Anil Ambani. In February 2019, the Indian Supreme Court issued an order to Anil in which he is asked to return 550 crore Indian rupees of Swedish company, Ericsson or otherwise, he will be imprisoned. Luckily in this case, Mukesh helped Anil and paid off his debts. Anil Ambani’s total ownership now stands at just $0.5 billion, down from $42 billion in 2008. Anil’s younger brother Mukesh Ambani is India’s richest man with a total assets of $52 billion and only the house of Mukesh Ambani in Mumbai is more expensive than Anil Ambani’s total wealth.

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