There's no place like home—especially if it's worth $1 billion. India's richest man has built the world's first billion-dollar home, a 27-story monolithic structure complete with three helipads, a health club, dance studio, ball room, 50-seat movie theater and underground parking lot for 160 cars. Mukesh Ambani, his wife and three children will host a housewarming party in the luxury Mumbai pad—believed to be the world's most expensive, later this month. And there will be plenty of room. The 37,000-square meter home, which took seven years to build, is bigger than the Palace of Versailles, London's Telegraph reported. And with a wait staff of 600, no desire will go unfulfilled. The building resembles a glass and steel Lego stack, interspersed with hanging gardens. The building soars more than 550 feet, and has stunning views that look over Mumbai and the Arabian Sea. According to Forbes magazine, Ambani is the fourth richest man in the … [Read more...] about Mukesh Ambani, India’s richest man, builds first billion-dollar home in Mumbai
Where mukesh ambani stands in world richest list
Amazon.com had better watch out. The $200 billion (roughly Rs. 13,00,300 crores) e-commerce market Morgan Stanley is forecasting for India by 2027 just got a new contender - with a very different plan. Energy tycoon Mukesh Ambani has already disrupted the country's telecom industry. His next big foray may be online retail. But India's richest man may not create a marketplace of his own. According to an Economic Times report, Ambani's Reliance Industries Ltd. wants to leverage its Jio wireless service and hand out digital coupons, which customers can then use to get discounts at their neighborhood stores. Why is this a smart move? There are clues in Morgan Stanley's research. India has 432 million Internet users, but only 60 million online shoppers. The e-commerce industry, including online food delivery, is just $15 billion (roughly Rs. 97,517 crores) a year, or 40 percent less than Alibaba Group Holding Ltd.'s Singles' Day sales in China. The inflection point in a 10-year journey … [Read more...] about After Taking on Airtel, Mukesh Ambani May Take on Amazon Next
Samsung Electronics Vice Chairman Lee Jae-yong is currently in India, provoking speculation that the South Korean tech giant may make further investments to expand its presence in the country, industry sources said on Monday. Lee is likely to meet Prime Minister Narendra Modi and Reliance Industries Chairman Mukesh Ambani this week, reports Yonhap news agency. Lee arrived in India on Sunday and was briefed by Samsung Electronics officials here. It is believed to be Lee's first visit to India since March. Samsung is one of the equipment suppliers for Reliance Jio's 4G network business. With the Indian telecom firm planning to establish a 5G network in the country, industry observers speculate that the two moguls may consult on the issue if there is a meeting. "There's also a possibility that Lee could meet with Prime Minister Narendra Modi," a source said. In July last year, Samsung India set up one of the world's largest mobile manufacturing facilities in Noida, Uttar Pradesh. PM Modi … [Read more...] about Samsung Heir in India, Likely to Meet PM Narendra Modi and Mukesh Ambani: Report
He is the richest man in Asia, an industrialist who built an energy giant, launched a nationwide telecom network and lives in his very own skyscraper. But Mukesh Ambani's next gambit may be his most audacious yet - and it will put him on a collision course with Amazon and Walmart in the battle to dominate e-commerce as hundreds of millions of Indians begin shopping online. Digital purchases are growing rapidly in India and could hit $200 billion (roughly Rs. 14,00,000 crores) in the next seven years, according to a recent report by Deloitte. Unlike China, where homegrown players like Alibaba have cornered the e-commerce market, the future of online shopping in India remains up for grabs. Enter Ambani. His Reliance Industries is India's largest company, an oil-to-entertainment conglomerate that is evolving into a firm focused on Indian consumers. Three years ago, Ambani started a telecom network whose cut-rate, data-heavy plans revolutionised the Indian internet. Ambani is … [Read more...] about Can Mukesh Ambani Take on Amazon, Walmart in E-Commerce?
At the Reliance AGM in Mumbai, the focus was on the Jio phone, which had been in the rumour mill for a long time. The new JioPhone comes with a number of features not seen in feature phones in the market so far, such as support for 'smart' apps, voice recognition, provision for digital payments, and most importantly 4G VoLTE support. In fact, as a 4G-capable feature phone, the JioPhone could potentially have an even bigger impact on India’s mobile and telecom landscape than Mukesh Ambani's telecom venture did. Mukesh Ambani started the Jio-centric announcements by reiterating the record-breaking journey of the company, which he claimed acquired 7 customers per second, and now has 125 million users as of now. He spoke about Jio users consuming 125GB of data every month, which includes 165 crore hours of high-speed video every month, adding that India has overtaken the US and China in data consumption to take the pole position. Extolling the achievements of the … [Read more...] about Jio Phone With Unlimited 4G Data Launched By Mukesh Ambani at Reliance AGM: Highlights