Mukesh Ambani, Chairman and Managing Director of RIL (Reliance Industries Limited), stands atop as the richest man in India in 2024 with a towering net worth of $116 billion (approximately Rs 9.6 lakh crore), according to Forbes. Reliance’s total revenue reportedly is $110 billion (approximately Rs 9.1 lakh crore) while the conglomerate has diverse interests in petrochemicals, oil and gas, telecom, retail and financial services. But did you know that Mukesh Ambani is not the Ambani family member who owns the maximum stake in Reliance?
Which Ambani family member owns the maximum stake in Reliance?
The Ambani family who owns the maximum stake in Reliance is Kokilaben Ambani, Reliance founder Dhirubhai Ambani’s wife and Mukesh Ambani’s mother. According to Hindustan Times and other publicly available data, Kokilaben Ambani owns a 0.24% stake in RIL, which is 1.57 crore shares. This makes her the largest individual shareholder in the family conglomerate. According to Times of India, Kokilaben Ambani has a mammoth net worth of Rs 18,000 crore.
Kokilaben Ambani is not directly involved in Reliance’s day-to-day management. However, the Ambani matriarch has played a crucial role in supporting the family business. This was particularly witnessed in 2005 when she mediated the brutal dispute between her sons; Mukesh Ambani and Anil Ambani over Reliance.
Recently, Kokilaben Ambani’s daughters Nina Kothari and Dipti Salgaocar had hosted a lavish pink-themed party to celebrate their mother’s 90th birthday. The celebrations took place at Sea Wind, Ambanis’ old residence located in Colaba, Mumbai. The entire family was in attendance to celebrate the milestone occasion.
Notably, the Ambani family owns 50.59% total shares of Reliance, while the remaining 49.61% of shares are owned by public shareholders, including FII and corporate bodies, according to DNA India. Mukesh Ambani owns a 0.12% stake in RIL, which translates to 75 lakh shares, according to Business Times. Similarly, Mukesh Ambani’s wife and Reliance Foundation’s Chairperson Nita Ambani also holds a 0.12% stake in the family business.
In August 2023, Mukesh Ambani had announced that his and Nita Ambani’s children — Isha Ambani, Akash Ambani and Anant Ambani — will be inducted into Reliance’s Board of Directors. While Isha Ambani is heading Reliance Retail, Akash Ambani is heading Reliance Jio, and Anant Ambani is heading Reliance New Energy. Similar to their parents, the Reliance heiress and heirs hold a 0.12% stake each in Reliance, according to Hindustan Times. Anil Ambani, Reliance Group Chairman, and Managing Director has no direct stake in RIL after he and Mukesh Ambani split the family business in 2005.
