Forbes rich list: Anil Ambani profile

Indian tycoon is biggest loser in financial crisis with $31.9bn wiped off his fortune

A vegetarian, teetotal, marathon-running Indian tycoon, Anil Ambani, has emerged as the biggest financial loser from the global economic crisis. Ambani has seen $31.9bn (£23.2bn) of his personal wealth evaporate in a collapse in the value of his Reliance group of companies.

Ambani, 49, has a broad variety of business interests ranging from telecoms to mutual funds and Bollywood movie-making. A year ago, Forbes ranked him as the sixth-richest man in the world, with $42bn. His net worth has since dived to $10.1bn, pushing him to a lowly 34th.

Coming off the back of a boom, India's stockmarket has fared even worse than those elsewhere over the last year, dropping 44%. Shares in Ambani's Reliance Communications, Reliance Power and Reliance Capital have all plummeted.

A disciplined character, Ambani rises early in Mumbai – he once told the Hindu newspaper that he spent two hours on a treadmill and endured 30 minutes of yoga before work every morning.

On his fortune, he has remarked: "My dad always used to tell [me] wealth whispers, money shouts. Money, as you know, ceases to be important after a certain point."

What may be important to him, however, is that his fall down the rankings has left him badly trailing his older brother, Mukesh, who is worth an estimated $19.5bn. The pair do not get on – Anil last year sued for libel over a newspaper interview in which Mukesh accused Reliance of industrial espionage.


Andrew Clark

The GuardianTramp

Related Content

Article image
Power struggle between Ambani brothers halts gas exploration project
The row between Asia's richest siblings centres on the cost of gas from a huge field in the Krishna-Godavari basin in India

Randeep Ramesh in Delhi

18, Aug, 2009 @7:58 PM

Article image
Recession, what recession? Number of Indian billionaires doubles

News of increasing wealth of country's richest sparks debate about polarisation of society

Randeep Ramesh in Mumbai

19, Nov, 2009 @3:28 PM

Profile: Anil Agarwal
Indian 'Bollygarch' made fortune helping the state privatise its mining industry

Nick Mathiason

28, Jul, 2009 @4:19 PM

Bollywood billionaire funds new Spielberg studio

Indian media mogul Anil Ambani to back studio following Spielberg's rift with US media house Viacom

Randeep Ramesh in Delhi

21, Sep, 2008 @11:01 PM

Bollywood goes global with Hollywood movie deal

Anil Ambani announces his media group will be making 10 Hollywood movies for a billion dollars

Randeep Ramesh in Delhi

19, May, 2008 @11:06 PM

Obituary: Anil Biswas
The doyen of Hindi film music directors, Anil Krishna Biswas, who has died aged 88, introduced the concept of orchestra to Indian cinema.

Haresh Pandya

05, Jul, 2003 @1:26 AM

Obituary: Anil Agarwal
India's leading environmental campaigner.

Tony Juniper

11, Jan, 2002 @2:03 AM

Article image
Slumping billionaires: financial crisis slashes ranks of world's super rich

Bill Gates claims back No 1 spot from Warren Buffett as billion dollar club is cut from 1,125 members to 793

Andrew Clark in New York

11, Mar, 2009 @10:00 PM

Article image
The Great Gatsby remake: opulence is back in vogue | Heather Long

Heather Long: Baz Luhrmann's over-the-top take on Gatsby suggests we've recovered from recession and are ready to worship wealth again

Heather Long

30, Apr, 2013 @11:00 AM

Russia's oligarchs lose 70% of their wealth in a year
The Forbes Russia rich list reports a 'spectacular decrease' in the worth of the country's industrialist elite

Luke Harding in Moscow

17, Apr, 2009 @3:33 PM