About Mukesh Ambani
Mukesh Ambani is an Indian businessman. He is currently the Chairman and Managing Director of Reliance Industries. Apart from being in these high positions, he is also the largest shareholder of Reliance Industries Limited, which is a Fortune 500 company across the world and the company is the most valuable company in India according to the market value currently, he is the second richest businessman in India after Mr. Gautam Adani, who recently overtook him, in the richest person in India.
He is born to Mr. Dhirubhai Ambani and Mrs. Kokilaben Ambani. His father and mother had 3 children other than him whose names are Anil Ambani, Nina Bhadrashyam Kothari, and Dipti Dattaraj Salgaonkar. He completed his graduation from the Institute of Chemical Energy and for post-graduation, he joined Stanford University, but then he dropped the college and helped his father in the business.
Mukesh Ambani Own IPL Team
Being one of the wealthiest people across India, the businessman has his own IPL team, which is Mumbai Indians, to which the owner is Mukesh Ambani and Neeta Ambani. The business has started its own Social Initiative Education for All (EFA) whose name can be seen on the jerseys of their team. Recently an announcement of buying a team in the Emirates Cricket Board’s upcoming UAE T-20 cricket league through its subsidiary company which is Reliance Strategic Business Ventures Limited (RSBVL).
Mukesh Ambani Launch Jio
The launch of Reliance Jio came into our country in the year 2016. As the company was a new venture of Reliance under the leadership of Mukesh Ambani, the company came up with a new marketing strategy. This strategy was very good which allowed the company to gain new customers after the launch and got the chance to take place in the market easily, as the company launched the product with the scheme of free data, calls, and SMS to all of its customers, which was firstly planned to close on 31st December 2016 but in the end, the free services came later than that.
It closed its access to free services on 31st March 2017. Since the launch of the telecom services, it has broken many records in reaching the number of customers as soon as possible. Within the first month of its launch, it crossed 1.6 crores number of subscribers, creating a new record when it touched the 5 crores subscribers mark, which the company did the numbers in just 83 days since the launch of the services.
The company touched the 10 crores number of subscribers on 22nd February 2017. By the October, of the year 2017, the company had crossed 13 crores subscribers.
Recently, the market has been going up and down, due to which his net worth has been changing and going up and down with the market conditions. His current net worth is around 86.9 Billion dollars due to which he ranks 10th in the world. The government of India has provided him security due to the death threats received by him after becoming India’s top businessman over the years.
Mukesh Ambani’s business reached new heights, since the time he launched Jio, the business not only entered as a big player in the telecom industry but also has launched other applications as well. The other applications include Jio Saavan for music, Jio Security for security, Jio TV for streaming of TV shows online, Jio Cinema for HD video library, the company also launched Jio Mart store, which is a place to buy daily items, food items, and other useful products, which are used in household services. The Jio mart has been in direct competition with the likes of D-Mart which also provides the same grocery and food items but at lower prices.
In the telecom industry, the main rivals during the time of joining the industry were the like of Idea, Vodafone, Airtel, and BSNL. After the joining of Jio in this race, the market share of each company’s changed very much. There were some companies that for the survival of their customers merged with other companies.
Like the Aircel merged with Reliance Communications of Anil Ambani, Tata Docomo merged with Airtel in 2019, while the telecom business of Tata which includes Tata Teleservices and Tata Teleservices Maharashtra Limited also merged with them and the services have been together with 1st July 2019.
In 2017, one of the two big players in the industry joined their hands which were Vodafone and Idea. The joining of the two companies led to the largest market share which is about 35% of the market share worth Rs. 1.5 lakh crores.
Jio has been doing huge business in times of lockdown in the country. In September 2019, the company launched Jio Fiber which was earlier named Jio Giga Fiber. The jio fiber started reaching the homes, as it did not only provide the internet connection but also provided a subscription basis system to use the internet connection and the subscription to various streaming applications which included the likes of Amazon Prime, Hotstar, Voot, Zee5, and other subscription of applications as well.
But there are other rivals that started this fiber net system and the biggest rival in this is Airtel Xstream, which is also streaming with the same pricing as well. The only difference that comes between both the applications is the number of streaming apps that can be used. Earlier the data was limited and at higher charges only, but now the current system provides unlimited data at all price changes but the thing is the speed given by them.
The network speed is different for all the price ranges and the basic price models don’t provide for any of the streaming applications but as the price range reaches Rs. 999/-, the streaming services are also available.
Jio Invest in Facebook
During the lockdown time, Jio has announced selling its stake to two companies that are counted in the top companies all over the world, are Facebook and Google. Both the companies have decided to invest in the company. Facebook, in April 2020 announced that they are going to invest 5.7 billion dollars (Rs. 43,574 crores) of investment for about 9.9% stake in Jio platforms while Google, in the month of July announced its investment plans for buying a 7.7% stake for Rs. 33,737 crores, which is a very huge investment by both of these giants.