View source for Dhirubhai Ambani

{{short description|Indian Billionaire Businessman (1932–2002)}}
{{More citations needed|date=June 2020}}
{{Use Indian English|date=January 2015}}
{{Use dmy dates|date=November 2015}}
{{Infobox person
| name               = Dhirubhai Ambani
| image              = Dhirubhai Ambani 2002 stamp of India.jpg
| image_size         = 
| alt                = 
| caption            = Ambani in 2002
| birth_name         = Dhirubhai Ambani
| birth_date         = {{birth date|df=yes|1932|12|28}}
| birth_place        = [[Chorwad]], [[Junagadh State]], [[British Raj|British India]]<br />(present-day [[Gujarat]], India)
| death_date         = {{death date and age|df=yes|2002|07|06|1932|12|28}}
| death_place        = [[Mumbai]], [[Maharashtra]], India
| occupation         = [[Businessman]]
| organization       = [[Reliance Industries]]<br />[[Reliance Capital]]<br />[[Reliance Infrastructure]]<br />[[Reliance Power]]
| spouse             = {{Marriage|Kokila Dhirubhai Ambani|1955|}}
| children           = 4, including [[Mukesh Ambani]] and [[Anil Ambani]]
| relatives          = 
| awards             = [[Padma Vibhushan]] (2016) (posthumously)
| citizenship        = [[British India]] (1932–1947)<br />[[Dominion of India]] (1947–1950)<br />[[India]] (1950–2002)
}}

'''Dhirajlal Hirachand "Dhirubhai" Ambani''' (28 December 1932 – 6 July 2002) was an Indian  billionaire businessman who founded [[Reliance Industries]] in 1958. Ambani took Reliance public in 1977.<ref>{{Cite web |title=Dhirubhai Ambani {{!}} Biography, Accomplishments, & Facts {{!}} Encyclopædia Britannica |url=https://www.britannica.com/biography/Dhirubhai-Ambani |access-date=2022-06-06 |website=britannica.com |language=en}}</ref><ref>{{Cite web|title=Dhirubhai Ambani death anniversary: 3 lesser-known interesting facts about the business tycoon|date=6 July 2020 |url=https://www.timesnownews.com/business-economy/companies/article/dhirubhai-ambani-death-anniversary-3-lesser-known-interesting-facts-about-the-business-tycoon/616895|access-date=2021-06-26|publisher=[[Times Now]]}}</ref> In 2016, he was honoured posthumously with the [[Padma Vibhushan]], India's second-highest civilian honour for his contributions to trade and industry.<ref name="thehindubusinessline-27Mar16">{{cite news |title=Dhirubhai Ambani to be given Padma Vibhushan award posthumously. |url=https://www.thehindubusinessline.com/news/dhirubhai-ambani-to-be-given-padma-vibhushan-award-posthumously/article8402171.ece |newspaper=[[Business Line]] |date=27 March 2016 |access-date=11 January 2023 |agency=[[Press Trust of India]] }}</ref><ref name="DNA-25Jan16"/> Ambani faced numerous accusations of [[market manipulation]], [[tax evasion]], and [[cronyism]].<ref>{{cite web | url=https://www.indiatoday.in/magazine/economy/story/19900531-ambanis-accused-of-evading-customs-duty-812627-1990-05-30 | title=Ambanis accused of evading customs duty | date=31 May 1990 }}</ref><ref>{{cite web | url=https://theprint.in/features/remembering-dhirubhai-ambani-the-polyester-prince-who-made-himself-king-of-india-inc/169949/ | title=Remembering Dhirubhai Ambani, the polyester prince who made himself king of India Inc | website=[[ThePrint]] | date=28 December 2018 }}</ref><ref>{{cite web | url=https://www.thehindubusinessline.com/companies/1994-ncd-case-court-rejects-ril-plea-for-internal-sebi-report/article26314208.ece | title=1994 NCD case: Court rejects RIL plea for internal SEBI report | date=19 February 2019 }}</ref><ref>{{cite web | url=https://thewire.in/books/the-unhappy-prince-how-dhirubhai-ambani-buried-a-book | title=The Unhappy Prince: How Reliance Buried a Book }}</ref><ref>{{cite web | url=https://frontline.thehindu.com/cover-story/lock-stock-and-reliance/article5746256.ece | title=Lock, stock, and Reliance | date=5 March 2014 }}</ref><ref>{{cite news |title=Murder for hire, high finance and a big dose of family feud |url=https://www.washingtonpost.com/archive/business/1989/08/27/murder-for-hire-high-finance-and-a-big-dose-of-family-feud/3429061c-109b-43f8-b420-976b362e396b/ |newspaper=[[The Washington Post]] |date=1989-08-27 |archive-url=https://web.archive.org/web/20200721055520/https://www.washingtonpost.com/archive/business/1989/08/27/murder-for-hire-high-finance-and-a-big-dose-of-family-feud/3429061c-109b-43f8-b420-976b362e396b/ |archive-date=2020-07-21 |url-status=live |last1=Coll |first1=Steve}}</ref>

==Early career==

Dhirubhai Ambani was one of the sons of Hirachand Gordhanbhai Ambani, a village school teacher belonging to the Modh vaniya ([[Bania (caste)|Baniya]]) community and Jamnaben Ambani and was born in Chorwad, Malia Taluka, [[Junagadh district]], [[Gujarat]]<ref>{{Cite book|url=https://books.google.com/books?id=BO56AgAAQBAJ&q=dhirubhai+modh&pg=PT19|title=A to Z of Entrepreneurship: A to Z of Entrepreneurship|author=C.A. Hemant|author2=C. Lodha|publisher=Panchasil Prakashan|year=2014|isbn=9788192373058|pages=12|language=en}}</ref> on 28 December 1932.<ref>{{Cite book|url=https://www.britannica.com/biography/Dhirubhai-Ambani|title=Dhirubhai Ambani|date=5 May 2024 }}</ref> He did his studies from Bahadur Khanji school. He returned from [[Aden Colony|Aden]] in 1958 to try his hand at his own business in India in the textile market. It is also said that he has worked at a gas station as a petrol vendor. <ref>{{Cite book|title=ambani and sons by hamish mcdonald}}</ref>

==Founding of Reliance Industries==
Ambani returned to India and started "Majin" in partnership with Champaklal Damani, his second cousin,<ref>[http://www.arabnews.com/ambani-gas-station-attendant-reliance-owner Ambani: From a petrol pump attendant to Reliance owner | Arab News – Saudi Arabia News, Middle East News, Opinion, Economy and more]. Arabnews.com (2 November 2012). Retrieved 28 July 2013.</ref> who lived with him in Yemen. Majin was to import [[polyester]] yarn and export spices to Yemen.<ref name=r1/>

The first office of the Reliance Commercial Corporation was set up at the Narsinatha Street in [[Masjid Bunder]].<ref>{{Cite web|url=http://www.ril.com/TheRelianceStory.aspx|title=Reliance Industries - The Reliance Story|website=www.ril.com|access-date=2019-05-20}}</ref> It was a {{convert|350|sqft|m2|abbr=on}} room with a telephone, one table and three chairs. Initially, they had two assistants to help them with their business.

During this period, Ambani and his family stayed in a two-bedroom apartment at the Jai Hind Estate in [[Bhuleshwar]], Mumbai.<ref name="r1">{{cite news| url=https://www.nytimes.com/2008/06/15/business/worldbusiness/15ambani.html?pagewanted=all | work=[[The New York Times]] | title=Indian to the Core, and an Oligarch | first=Anand | last=Giridharadas | date=15 June 2008}}</ref> In 1965, Champaklal Damani and Dhirubhai Ambani ended their partnership and Ambani started on his own. It is believed that both had different temperaments and different takes on how to conduct business.<ref>{{Cite web|url=https://www.newsclick.in/carving-business-empire-through-tax-havens-ambani-way|title=Carving up a Business Empire Through Tax Havens: The Ambani Way|date=2018-05-18|website=NewsClick|language=en|access-date=2019-05-20}}</ref> 

==Controversies== 
===Allegation of market manipulation=== 
In 1988, Reliance Industries came up against a rights issue regarding partly convertible debentures.<ref>{{cite web|url=http://www.india-seminar.com/2003/521/521%20paranjoy%20guha%20thakurta.htm |title=The two faces of Dhirubhai Ambani by Paranjoy Guha Thakurta |publisher=India-seminar.com |access-date=31 December 2010}}</ref> It was rumoured that the company was making all efforts to ensure that their stock prices did not slide an inch. Sensing an opportunity, The Bear Cartel, a group of stock brokers from [[Calcutta]], started to [[short (finance)|short sell]] the shares of Reliance. To counter this, a group of stock brokers until recently referred to as "Friends of Reliance" started to buy the short-sold shares of Reliance Industries on the [[Bombay Stock Exchange]].<ref>{{cite news |last1=Kaul |first1=Vivek |title=Master Move: How Dhirubhai Ambani turned the tables on the Kolkata bear cartel. |url=https://economictimes.indiatimes.com/master-move-how-dhirubhai-ambani-turned-the-tables-on-the-kolkata-bear-cartel/articleshow/9059587.cms?from=mdr |website=Economic Times |date=July 2011 |access-date=January 11, 2023}}</ref>

To find a solution to this situation, the Bombay Stock Exchange was closed for three business days. Authorities from the [[Bombay Stock Exchange]] (BSE) intervened in the matter and brought down the "Unbadla" rate to {{INR}} 2 with a stipulation that the Bear Cartel had to deliver the shares within the next few days. The Bear Cartel bought shares of Reliance from the market at higher price levels and it was also learnt that Dhirubhai Ambani himself supplied those shares to the Bear Cartel and earned a healthy profit out of The Bear Cartel's adventure.<ref>Barua, S.K. and Verma, J.S. (1993) ''The Great Indian Scam, Story of Missing Rs. 40&nbsp;billion''. University of California. {{ISBN|8170941288}}. pp. 16–17</ref>

After this incident, many questions were raised by his detractors and the press. Not many people were able to understand how a yarn trader until a few years ago was able to get in such a huge amount of cash flow during a crisis period. The answer to this was provided by the then finance minister, [[Pranab Mukherjee]] in the Parliament. He informed the house that a Non-Resident Indian had invested up to {{INR}} 220 million in Reliance during 1982–83. These investments were routed through many companies like Crocodile, Lota and Fiasco. These companies were primarily registered in [[Isle of Man]]. All the promoters or owners of these companies had a common surname [[Shah]]. An investigation by the [[Reserve Bank of India]] in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters.<ref>{{cite web|url=http://in.rediff.com/money/2002/jul/08amb4.htm |title=rediff.com: For this fighter, life was a big battle |work=Rediff.com |access-date=31 December 2010}}</ref>

==Death==
Ambani was admitted to the [[Breach Candy Hospital]] in Mumbai on 24 June 2002 after he suffered a major stroke. It was his second stroke, the first had occurred in February 1986 and had paralyzed his right hand. He was in a coma for more than a week and a number of doctors were consulted. He died on 6 July 2002 at the age of 69.<ref>[http://timesofindia.indiatimes.com/ambani/Reliance-chairman-Dhirubhai-Ambani-dead/articleshow/15204658.cms "Reliance chairman Dhirubhai Ambani dead"]. ''[[The Times of India]]''. (7 July 2002). Retrieved 28 July 2013.</ref><ref>{{Cite web |date=2022-02-03 |title=Dhirubhai, R.I.P |url=https://www.outlookindia.com/website/story/dhirubhai-rip/216337 |access-date=2022-06-06 |website=outlookindia.com |language=en}}</ref>

{{Quotation|The country has lost iconic proof of what an ordinary Indian fired by the spirit of enterprise and driven by determination can achieve in his own lifetime.<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/business/2109740.stm |title=Indian business giant dies |work=BBC News |date=7 July 2002 |access-date=19 May 2019}}</ref>|[[Atal Bihari Vajpayee]]|former [[Prime Minister of India]]}}

{{Quotation|This new star, which rose on the horizon of the Indian industry three decades ago, remained on the top until the end by virtue of his ability to dream big and translate it into reality through the strength of his tenacity and perseverance.

I join the people of Maharashtra in paying my tribute to the memory of Ambani and convey my heartfelt condolences to the bereaved family.<ref>{{cite web|url=http://www.rediff.com/money/2002/jul/07amb9.htm |title=Politicians, celebrities pay homage to Ambani |work=Rediff |date=7 July 2002 |access-date=31 December 2010}}</ref>|[[Padinjarethalakal Cherian Alexander|P C Alexander]]|former Governor of Maharashtra}}

==Post death==
Following his first stroke in 1986, Ambani handed over control of Reliance to his sons, [[Mukesh Ambani|Mukesh]] and [[Anil Ambani|Anil]]. In November 2004, Mukesh in an interview admitted to having differences with Anil over ownership issues.<ref>{{Cite web|url=https://www.businessinsider.com/ambani-brothers-feud-reliance-2011-05|title=The Full Story Of The Massive Feud Between The Billionaire Ambani Brothers|last=Badkar|first=Mamta|date=26 May 2011|website=Business Insider|access-date=2019-05-20}}</ref> He also said that the differences "are in the private domain".<ref>{{cite web|url=http://in.rediff.com/money/2004/nov/18ril.htm |title=Mukesh Ambani admits to differences with Anil |work=Rediff.com |date=18 November 2004 |access-date=31 December 2010}}</ref>
After the death of Dhirubhai Ambani, the group was split into [[Reliance Industries Limited]] headed by Mukesh, and [[Reliance Anil Dhirubhai Ambani Group]] headed by Anil. So finally Mukesh Ambani was elected as the CEO and Anil Ambani was elected as the chairperson.

As of 2017, the company had more than 250,000 employees. In 2012, Reliance Industries was one of the two Indian companies to be ranked among the top 100 in the [[Fortune 500]] list of the world's largest companies by revenue.<ref>{{Cite news|last=Pandey|first=Piyush|date=9 July 2012|url=http://timesofindia.indiatimes.com/business/india-business/Indian-Oil-Reliance-Industries-in-Fortune-500-companies-list/articleshow/14783485.cms|title=Indian Oil, Reliance Industries in Fortune 500 companies list|work=The Times of India|access-date=9 November 2017}}</ref>

==In popular media==
In 1988 an unauthorized biography of Dhirubhai Ambani, by [[Hamish McDonald]] with the title ''[[The Polyester Prince]]'', outlined all his political and business conquests. The book was not published in India because the Ambanis threatened legal action;<ref name="BS.in">{{cite web|url=http://www.business-standard.com/india/news/the-returnthe-polyester-prince/409864/|title=The return of The Polyester Prince |work=Business Standard|date=2 October 2010 |access-date=12 September 2012}}</ref> an updated version went on sale under the title ''Ambani and Sons'' in 2010, and there has been no action against the publisher so far.<ref name="BS.in"/>

A [[Bollywood]] movie ''[[Guru (2007 film)|Guru]]'', directed by filmmaker [[Mani Ratnam]], is said to be set on the life of Dhirubhai Ambani due to similarities between the plot and Ambani's life. However, Ratnam has denied that is a biography but has said it draws the "essence of the character" from real life.<ref>{{Cite web |date=2007-01-09 |title='Guru is not Dhirubai Ambani's story' |url=https://www.hindustantimes.com/india/guru-is-not-dhirubai-ambani-s-story/story-crGbYSssEaRqGDpQIQXcBO.html |access-date=2023-12-18 |website=Hindustan Times |language=en}}</ref>

==Accolades==
[[File:The President, Shri Pranab Mukherjee presenting the Padma Vibhushan Award to Smt. Kokilaben Ambani, wife of Shri Dhirubhai Hirachand Ambani (Posthumous), at a Civil Investiture Ceremony, at Rashtrapati Bhavan, in New Delhi.jpg|thumb|The [[President of India|President]], Shri [[Pranab Mukherjee]] presenting the [[Padma Vibhushan]] Award to Smt. Kokilaben Ambani, widow of Late Shri Dhirubhai Hirachand Ambani (posthumous), at a Civil Investiture ceremony, at [[Rashtrapati Bhavan]], [[New Delhi]]]]
* 15 June 1998 – Dean's Medal by [[Wharton School of the University of Pennsylvania|The Wharton School, University of Pennsylvania]], for setting an outstanding example of leadership. Dhirubhai Ambani was the first Indian to receive the Dean's Medal.<ref>Diwanji, A. K. (June 1998) [http://www.rediff.com/business/1998/jun/16amba1.htm Dhirubhai Ambani becomes first Indian to get Wharton School Dean's Medal]. Rediff</ref>
* January 2016 – posthumously awarded the [[Padma Vibhushan]], the country's second-highest civilian award.<ref name="thehindubusinessline-27Mar16"/><ref name="DNA-25Jan16">{{cite news |title= Padma awards 2016 declared: Anupam Kher, Rajinikanth, Vinod Rai, Sania Mirza honoured among others |url=http://www.dnaindia.com/india/report-padma-awards-2016-declared-anupam-kher-rajinikanth-vinod-rai-sania-mirza-amongst-winners-2170091 |work=[[dnaindia.com]] |date=25 January 2016}}</ref>

== Bibliography ==
* {{Cite book|last=McDonald|first=Hamish|title=[[The Polyester Prince|The Polyester Prince: The Rise of Dhirubhai Ambani]]|publisher=[[Allen & Unwin]]|year=1998|isbn=978-1864484687|author-link=Hamish McDonald}}

==See also==
* [[Dhirubhai Ambani Institute of Information and Communication Technology]]

==References==
{{reflist|2}} 

==External links==
* {{Britannica|859119}}   
* {{Internet Archive author|sname=Dhirubhai Ambani}}  
* [http://www.ril.com/OurCompany/Leadership/FounderChairman.aspx Founder Chairman, Reliance]
* [[Hamish McDonald|McDonald, Hamish]] (July 15, 2002). [https://content.time.com/time/subscriber/article/0,33009,320795,00.html "Remembering the Prince of Polyester"]. ''[[Time (magazine)|Time]]''.

{{Reliance Group}}
{{Reliance Anil Dhirubhai Ambani Group}}
{{Padma Vibhushan Awards}} 
{{Authority control}}

{{DEFAULTSORT:Ambani, Dhirubhai}}
[[Category:1932 births]]
[[Category:2002 deaths]]
[[Category:Indian billionaires]]
[[Category:Indian industrialists]]
[[Category:Businesspeople from Gujarat]]
[[Category:Businesspeople from Mumbai]]
[[Category:People from Junagadh]]
[[Category:Recipients of the Padma Vibhushan in trade & industry]]
[[Category:Ambani family|Dhirubhai]]
[[Category:Reliance Industries people]]
[[Category:Gujarati businesspeople]]
[[Category:Indian Hindus]]