How Anil Ambani become rich?

Business career After bickering between Anil and his brother Mukesh, their mother Kokilaben mediated and split the family owned businesses between the two brothers. Anil Ambani received parts of Reliance Group with interests in telecom, entertainment, financial services, power and infrastructure.

Why Anil Ambani did not succeed?

In a nutshell, there were claims that RCom (Reliance Communication), the one business Anil took control of, could not keep up with the growing telecoms industry. In between attempts to keep up, loans were made and price wars emerged, causing more debt and leading RCom to file for bankruptcy.

What happened to Anil Ambani’s net worth?

The downfall of Anil Ambani: $42 billion net worth to zero in 12 years As of December 31, 2019, Anil Ambani’s telecom, naval, infrastructure, and power businesses have defaulted on loans worth over Rs 43,800 crore. Money Corporate Tuesday, February 11, 2020 – 13:11 Shilpa S Ranipeta Follow @Shilparanipeta

Who is Anil Dhirubhai Ambani?

The Indian businessman and former billionaire, Anil Dhirubhai Ambani, is the chairman of the Reliance Group and seen better days. He once had a net worth of $42 billion, making him the sixth richest person globally.

Is Anil Ambani’s reliance drowning in debts?

After taking over the telecom, power generation, financial services businesses post the Ambani brothers split, all of Anil’s businesses are drowning in debts, with some of them landing in the bankruptcy court. As of June 2019, the total market capitalisation of the six group companies of Anil Ambani’s Reliance Group stood at Rs 6,196 crore.

Why did Mukesh Ambani split his company into two companies?

However, trouble began brewing between the brothers and in 2005, the company was split into two. While Anil took over the telecom, power generation and financial services businesses, Mukesh kept the oil-refining and petrochemicals businesses.