Ambani senior embroiled in a controversy

The last few weeks also saw Ambani senior embroiled in a controversy over his proposed ultra extravagant family home. Mukesh is a Master of Business Administration from Stanford University and the world’s 14th richest person with a net worth of $20.1 billion (Forbes list, 2007). His sibling Anil Ambani also did not get off easy, registering the second biggest fall of $2.4 billion, taking his net worth down to $23.7 billion. Telecom czar Sunil Bharti Mittal also may have announced details of his retail alliance with Wal-Mart last week, but the bad news came almost alongside. His net worth dropped by $2.1 billion. Of course, one needn’t get too edgy by this plunge in net worth (after all, it’s but a drop in the ocean for these business behemoths)... and have been a part & parcel of their long and tedious climb up the ladder. Everybody expects resilience from these maestros and as we said, this fall may just be a harbinger of newer heights...

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist)