Dhirubhai Ambani Death Anniversary: India’s Richest Man
Dhirubhai Ambani Death Anniversary: India’s Richest Man
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Dhirajlal Hirachand Ambani was an Indian Businessman who founded Reliance Industries in 1958. Reliance was made public in 1977 by Ambani. For his achievement in trade and industry, he has given the Padma Vibhushan in 2016. He is India’s second highest civilian decoration, posthumously. Ambani was frequently accused of engaging in favoritism tax evasion, and market manipulation.

Dhirubhai Ambani was on 28 December 1932 in Chorwad, Junagadh, Gujarat. He was the son of Hirachand Gordhanbhai Ambani, a village teacher belonging to the Modh Vaniya community.  Dhirubhai Ambani did his studies at Bahadur Khanji School. He left Aden in 1958 to try his hand at his business textile market. He also worked at a petrol pump as a vendor.

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Ambani took Reliance public in 1977 after being turned down for financing by nationalized banks. Investor confidence in Reliance remained unwavering despite accusations of political manipulation, corruption, and engineered raids on rivals as a result of the founder's deftness in navigating a sluggish economy and burdensome government regulations and bureaucracy. This was due in part to the handsome dividends the company offered as well as the founder's charisma and vision. Ambani is credited with introducing the stock market to the typical Indian investor. Thousands of people attended the Reliance AGMs, which occasionally took place in sports stadiums, and many more watched them on television.

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 several doctors were consulted. He died on 6 July 2002.

Ambani handed over the day-to-day running of the company to his sons, Mukesh Ambani and Anil Ambani in the mid-1980s but continued to oversee the company until shortly before he died in 2002.

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