One of the most famous personalities, Dhirajlal Hirachand Ambani or Dhirubhai Ambani (December 28, 1932-July 6,2002) is the most successful and richest businessman in India. Born in a Modh family, Dhirubhai Ambani was born to a school teacher. He is known as the founder of Reliance Industries, which he initiated with his cousin. This famous Indian Business Tycoon has been figured among the top 50 businessmen in Asia in The Sunday Times. The story of his life is an inspiration for almost all entrepreneurs and common people across the globe. Besides being a successful as well as the richest businessman, Dhirubhai had an array of aspects that are still unexplored. To introduce you to these aspects, here are some interesting facts about Dhirubhai Ambani, Keep Reading!
This Blog Includes:
Story of Dhirubhai Ambani
Dhirubhai Ambani made Reliance Industries public in the year 1977 and later, in 2007, combined the fortune of his family to $60 billion taking Ambani to the third position among the richest families across the globe. Being one of the greatest entrepreneurs, he is the perfect example for New and Changed India.
Dhirubhai Ambani first started selling bhajias to the pilgrims at Mount Girnar thus venturing into the entrepreneurial territory. Most business tycoons nowadays have excellent qualifications with practical exposure from the best B-schools across the globe, but Dhirubhai Ambani’s case is somewhat different. He just completed his matriculation when he started selling street food targeting the pilgrims in the market at Girnar, Gujarat. It was the earliest stage when he started his journey to success and taught a life lesson that success is equal to hard work. Further, by this time Dhirubhai Ambani learnt a great deal and was fuelled by the upcoming step of the future thus cofounding Reliance Commercial Corporation.
Yemen at 16
Dhirubhai Ambani completed his matriculation at the age of 16 and then moved to Aden, Yemen where he was offered to work as a gas-station attendant for A. Besse & Co. with a salary of INR 300 per month. This was the stage when he got to learn about how things can work with monthly wages.
In 1958, he returned to India after collecting INR 50,000 and then he initiated a textile trading company known as Majin along with his cousin named Champaklal Damani. This was the time when he started his own business with the help of his cousin or a partner.
First Reliance Office
The very first office of Reliance Commercial Corporation was set up in Narsinathan Street in a 33 sq. room in Masjid Bunder which had one table, and three chairs along with a landline phone. Further, Dhirubhai then moved to an apartment located on Altamount Road in South Mumbai. By the late 1970s, the net worth of Dhirubhai Ambani rose to INR 10 lakhs.
In 1977, Dhirubhai Ambani initiated his textile mill in Naroda Ahemdabad and named his brand ‘Vimal’ after the name of his nephew Vimal Ambani.
First Private Company to Hold an Annual Meeting
At this point, Reliance Commercial Corporation became the very first private sector company that held its annual meetings inside stadiums. All this was mainly due to Dhirubhai Ambani as he managed to convince an array of rural Gujaratis to become shareholders. In 1986 approximately 350,000 shareholders were present at the Annual General Meeting held at Cross Maidan in Mumbai. Further, by this stage, Dhirubhai Ambani achieved the status of a successful person and an array of accolades as well as titles for his life such as the poll conducted by The Times of India in 2000 where he was voted the Greatest Creator of Wealth in the Centuries.
High Tax Revenue
In 1966, Dhiribhai laid the bricks for Reliance Industries which at present comprises more than 85000 employees and is the provider of over 5% of India’s Central Government’s total tax revenue. In simple words, Reliance Industries is also a major contributor to India’s economy as taxpayers along with its employees.
First International Company
Reliance Industry is the very first company to reach international markets to raise money and it is also the first to be listed on the Forbes 500 list.
Want to ace your IELTS? Join Leverage Live!
In 1977, Dhirubhai Ambani took Reliance Industry in public after numerous banks refused to finance his business.
Dhirubhai Ambani was a brilliant business mind from India who became one of the richest businessmen across the globe with his hard work and dedication. After being in a coma for more than a week, he took his last breath on 6 July 2002.
One of the most interesting facts often asked is about Dhirubhai Ambani’s marriage. He married a lady named Kokilaben in the year 1955.
To know and read more about such personalities follow Leverage Edu!