No.35

Global Power

Mukesh Ambani

Chairman and Managing Director, Reliance Industries Limited

Built Jio into the data network that connected over a billion Indians, reshaping the country's digital economy.

Score 88/100

Why they’re on the list

Mukesh Ambani built Reliance Jio into the low-cost mobile data network that brought hundreds of millions of Indians online, making him one of the most consequential figures in the world's data infrastructure.

Mukesh Ambani is the chairman and managing director of Reliance Industries Limited, India's largest private-sector company by revenue and market capitalisation, and one of the most powerful business figures in the world's most populous nation. Born on 19 April 1957 in Aden, Yemen, to industrialist Dhirubhai Ambani, he moved with his family to Mumbai the following year and grew up as Reliance expanded from a small trading and textiles business into an industrial conglomerate.

Ambani earned a bachelor's degree in chemical engineering from the University of Mumbai and began an MBA at Stanford University, which he left in 1981 to join the family business and help lead Reliance's diversification into petrochemicals, refining, polyester and oil and gas. Following his father's death in 2002 and a subsequent family settlement in 2006, Mukesh took control of Reliance's core energy, petrochemicals and refining operations, which he continued to scale into the world's largest single-location refining complex at Jamnagar.

Ambani's most consequential move for the global data economy came in 2016, when Reliance launched Jio, a 4G mobile network that offered extremely low-cost data and voice services across India. Jio triggered a dramatic collapse in Indian mobile data prices, drove mass smartphone adoption, and is widely credited with bringing hundreds of millions of previously offline Indians onto the internet within a few years, fundamentally reshaping the country's digital and data infrastructure landscape.

Beyond telecoms, Ambani built Reliance Retail into one of the largest retail networks in the world by store count and customer base, and has pushed Reliance into new energy, cloud infrastructure and, increasingly, artificial intelligence and data-centre investment, positioning the conglomerate as central to India's ambitions in digital and green infrastructure. He also owns the Mumbai Indians cricket franchise and sits among the most influential dealmakers courted by global technology and investment firms seeking a foothold in the Indian market.

Regularly ranked among the wealthiest individuals in Asia, Ambani wields outsized influence not just through Reliance's balance sheet but through Jio's role as critical national data infrastructure — the pipes through which a large share of India's population now accesses the internet, e-commerce and financial services, making him one of the most consequential figures shaping how data reaches the world's most populous country.

Career timeline

  1. 1981Leaves Stanford MBA programme to join Reliance
  2. 1999Commissions the world's largest grassroots petroleum refinery at Jamnagar
  3. 2002Succeeds father Dhirubhai Ambani following his death
  4. 2006Family settlement gives Mukesh control of Reliance's energy and petrochemicals businesses
  5. 2016Launches Reliance Jio, triggering a nationwide collapse in mobile data prices
  6. 2020Raises tens of billions of dollars for Jio Platforms from Facebook, Google and global investors
  7. 2023Reliance Retail surpasses 249 million customers

Sources

  1. Mukesh Ambani - Britannica Money
  2. Mukesh Ambani - Forbes Profile
  3. Reliance Retail - Wikipedia
  4. Billionaire Mukesh Ambani's net worth 2026 - Nairametrics

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