{"id":601,"date":"2023-12-19T10:33:02","date_gmt":"2023-12-19T10:33:02","guid":{"rendered":"https:\/\/thebestbiography.com\/?p=601"},"modified":"2023-12-19T10:33:02","modified_gmt":"2023-12-19T10:33:02","slug":"mukesh-ambani-biography","status":"publish","type":"post","link":"https:\/\/thebestbiography.com\/mukesh-ambani-biography\/","title":{"rendered":"Mukesh Ambani (Indian Businessman) Biography"},"content":{"rendered":"

Mukesh Ambani Born on April 19, 1957, Mukesh Dhirubhai Ambani is an Indian billionaire businessman<\/strong>. At the moment, he serves as managing director and chairman of Reliance Industries, the most valuable corporation in India based on market value. As of December 2023, his estimated net worth was $92 billion, making him the richest individual in Asia and the fifteenth richest globally. Known for being a plutocrat at times, he has gained and lost notoriety due to allegations of cronyism, political corruption, market manipulation, and exploitation. In the “Titans” section of Time magazine, he was selected as one of the 100 most influential people of 2019.<\/p>

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\"Mukesh<\/figure><\/div>

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Mukesh Ambani<\/a> was one of four children of Dhirubhai Ambani<\/a>, who first worked as a gas station attendant. Because of the increasingly unstable political climate in Aden, where Mukesh was born, the family relocated in 1958 to the Bhuleshwar neighbourhood of Bombay (now Mumbai), where they lived in a chawl<\/em> (a communal building that commonly features low-rent two-room apartments). In the same year, Dhirubhai and a cousin founded the Reliance Commercial Corporation, which grew into RIL from a commodities-trading business that they initially operated out of a one-room rental space.<\/p>

Mukesh Ambani Info<\/strong><\/h2>

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Born<\/strong><\/td>19 April 1957 (age 66 years)<\/td><\/tr>
Net worth<\/strong><\/td>9,810 crores USD (2023)<\/td><\/tr>
Children<\/strong><\/td>Anant Ambani, Akash Ambani, Isha Ambani<\/td><\/tr>
Spouse<\/strong><\/td> Nita Ambani (m. 1985<\/td><\/tr>
Education<\/strong><\/td>St. Xavier’s College (Autonomous), Institute of Chemical Technology (ICT), Hill Grange High School<\/td><\/tr>
Parents<\/strong><\/td> Dhirubhai Ambani, Kokilaben Ambani<\/td><\/tr>
Siblings<\/strong><\/td> Anil Ambani, Nina Kothari, Deepti Salgaocar<\/td><\/tr>
Height                                            <\/strong><\/td>5\u20196\u201d<\/td><\/tr>
Religion<\/strong><\/td>Reliance Industries Limited<\/td><\/tr>
Net worth                                      <\/strong><\/td>8,830 crores USD (2023)<\/td><\/tr>
Favorite Colour<\/strong><\/td>Blue & White<\/td><\/tr>
Favorite Food<\/strong><\/td>Dosa Idli S\u0101mbhar, Paanki, Guajarati Cousin, Groundnut Roasted<\/td><\/tr>
Favorite actor<\/strong><\/td> Shah Rukh Khan, Amir Khan, Hrithik Roshan<\/td><\/tr>
Education \/ qualification         <\/strong><\/td> BE degree in chemical engineering<\/td><\/tr>
College<\/strong><\/td> St. Xavier\u2019s College, Mumba<\/td><\/tr><\/tbody><\/table><\/figure>

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Mukesh Ambani<\/strong> Early life<\/strong><\/h2>

Mukesh Dhirubhai Ambani was born on April 19, 1957<\/strong>, in the Gujarati Hindu household of Dhirubhai and Kokilaben Ambani in the British Crown colony of Aden (modern-day Yemen). He has two sisters, Dipti Dattaraj Salgaonkar and Nina Bhadrashyam Kothari, and a younger brother, Anil Ambani.<\/p>

Ambani was only in Yemen for a short time because his father returned to India in 1958 to establish a commercial company specializing in textiles and spices. The latter was formerly known as “Vimal” before being renamed “Only Vimal.” Up until the 1970s, his family resided in a small two-bedroom apartment in Bhuleshwar, Mumbai. After moving to India, the family’s financial situation somewhat improved, but Ambani continued to live in a communal community, take public transit, and never get an allowance. Later, Dhirubhai bought ‘Sea Wind,’ a 14-story apartment building in Colaba, where Ambani and his brother had lived with their families on separate floors until recently.<\/p>

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\"Mukesh<\/figure><\/div>

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Mukesh Ambani<\/strong> Education<\/strong><\/h2>

Ambani, his brother, and Anand Jain\u2014a future close friend\u2014all attended the Hill Grange High School on Peddar Road in Mumbai. He attended St. Xavier’s College in Bombay after completing his secondary education. After that, he graduated from the Institute of Chemical Technology with a BE in chemical engineering.<\/p>

Later, Ambani enrolled at Stanford University to pursue an MBA, but he dropped out in 1980 to assist his father in building Reliance, which at the time was still a tiny but rapidly expanding business. His father brought his son back to India from Stanford to take charge of a yarn manufacturing project in his company because he believed that real-life skills were developed by experiences rather than by sitting in a classroom. <\/p>

According to a comment from Ambani, Man Mohan Sharma and William F. Sharpe were “the kind of professors who made you think out of the box,” and this is why he was impacted by them.<\/p>

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\"Mukesh<\/figure><\/div>

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Mukesh Ambani Life Story<\/strong><\/h2>

It is said that when Ambani came to Mumbai from Gujarat, there was a lot of struggle. Then came holding \u20b9 500 in hand. From the same \u20b9 500, today he became a billionaire with his own understanding. In 1966, Ambani established his first textile mill at Naroda.<\/p>

This mill shone the fortunes of Ambani. In just 1 year and 2 months, Ambani had set a world record in setting up 10000 tonnes of polyester yarn. After this yarn, Ambani launched his own brand named Vimal. Dhirubhai Ambani\u2019s company which was worth Rs 70 crores in 1976 became 75,000 crores in the year 2002. Reliance became the first Indian digital company to do so.<\/p>

Mukesh Ambani\u2019s house price in Indian rupees works out to be approximately Rs 15,000 crores. Property surveyors are of the view that the per sq ft price of Antilia ranges between Rs 80,000 and Rs 85,000 rupees. Mukesh Ambani lives in Antilia, a 27-floor house in Mumbai. The cost of this house is said to be more than 11 thousand crore rupees.<\/p>

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Mukesh Ambani<\/strong><\/strong> Career<\/strong><\/h2>

He began assisting his father Dhirubhai Ambani in the management of the family company, Reliance Industries Limited, in 1981. It had already grown to deal in petrochemicals and refining by this point. Products and services from the retail and telecommunications sectors were also offered by the company. The biggest retailer in India is Reliance Retail Ltd., another affiliate. Since its official launch on September 5, 2016, Reliance’s Jio has maintained a top-five position in the nation’s telecommunication services further explanation needed.<\/p>

Ambani has been India’s richest person on Forbes magazine’s list for the past ten years, and as of 2016, he was rated as the 36th richest person in the world. Among the world’s most powerful persons, according to Forbes, he is the sole businessman from India. According to Forbes, Mukesh Ambani was the sixth wealthiest person in the world as of October 2020. With a net worth of $44.3 billion, he eclipsed Alibaba Group executive chairman Jack Ma to become the richest person in Asia in July 2018. In addition, he is the richest person outside of North America and Europe in the entire globe. China’s Hurun Research Institute placed Ambani eighth among India’s donors as of 2015. After being named a Director of He is the founder of the Indian Super League, an Indian football league, and owns the Mumbai Indians team in the Indian Premier League through Reliance.(31 ) Forbes listed him as one of the world’s wealthiest sports owners in 2012.32 He lives in the Antilia, one of the priciest private homes in the world, with a $1 billion valuation.<\/p>

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\"Mukesh<\/figure><\/div>

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Mukesh Ambani<\/strong> Net Worth<\/strong><\/h2>

Mukesh Ambani is the Chairman & MD of Reliance Industries Ltd, an O2C, telecom, and new energy conglomerate. Ambani’s net worth stands at Rs765,348.00 crore<\/strong>. He reclaimed the top spot this year, with his net worth soaring by $4 billion this year.<\/p>

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Mukesh Ambani<\/strong> Timeline<\/strong><\/h2>

1980s\u20131990s<\/strong>
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Under Indira Gandhi, the Indian government allowed the private sector to begin producing polyester filament yarn (PFY) in 1980. Dhirubhai Ambani filed an application for a permit to establish a factory for producing PFY. Since the government was limiting large-scale manufacturing at the time and making it impossible to import yarn for the textiles, getting the license was a drawn-out procedure that required strong connections within the bureaucratic system. Despite fierce competition from the likes of Tatas, Birlas, and forty-three other companies, Dhirubhai was granted the license, which is also known as License Raj. In 1981, while his son was pursuing an MBA at Stanford, Dhirubhai dragged his oldest son out of school to assist him in building the PFY facility. Ambani did not go back to his college.<\/p>

program, since he oversaw Reliance’s vertical integration of textiles, polyester fibers, and petrochemicals, the latter of which was used to make yarns. After entering the company, Rasikbhai Meswani, the executive director at the time, received his daily reports. The company was being founded on the idea that everyone should contribute to the enterprise and that it shouldn’t rely too much on a small number of people. Despite his lack of expertise, Dhirubhai allowed him the freedom to contribute by treating him like a business partner. This idea came into play when Ambani and his brother took on all the duty following the deaths of Rasikbhai in 1985 and Dhirubhai in 1986 due to a stroke. Reliance Infocomm Limited, now known as Reliance Communications Limited, was founded by Mukesh Ambani with an emphasis on information and communications technologies.<\/p>

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\"Mukesh<\/figure><\/div>

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2000s\u2013present<\/strong><\/h2>

Tensions between the brothers increased when Mukesh’s father passed away on July 6, 2002, following a second stroke. This was because Dhirubhai had not left a will specifying how the empire would be divided in 2004. In an effort to put an end to the conflict, their mother interfered and divided the business into two, giving Ambani control over Indian Petrochemicals Corporation Limited and Reliance Industries Limited. This decision was eventually accepted by the Bombay High Court in December 2005.<\/p>

The largest grassroots petroleum refinery in the world was built by Ambani at Jamnagar, India. It was able to produce 660,000 barrels per day (33 million tons annually) in 2010 and was integrated with a port, petrochemicals, power generation, and other related infrastructure. Ambani hinted at the prospect of a “collaborative venture” with Bharti Airtel in December 2013 at the Progressive Punjab Summit in Mohali, regarding the establishment of digital infrastructure for the 4G network in India. At the 40th Annual General Meeting of Reliance Industries on June 18, 2014, Mukesh Ambani declared that he would make short-term investments of Rs 1.8 trillion in various industries over the next three years, and that he would introduce 4G broadband services in 2015.<\/p>

In recognition of his engineering and business leadership in petrochemical goods, oil refineries, and associated industries, Ambani was chosen as a member of the National Academy of Engineering in 2016. The Ambani-led Jio introduced its own 4G smartphone brand, called LYF, in February 2016. It was the third-biggest selling mobile phone brand in India as of June 2016. Reliance’s shares rose after the successful September 2016 launch of the Jio service, which is operated by Reliance Jio Infocomm Limited. He unveiled the Jio Phone at an effective price of \u20b90 during the 40th annual general meeting of RIL. He also announced bonus shares in the ratio of 1:1, which is the largest bonus issue in India. According to Bloomberg’s “Robin Hood Index” as of February 2018, Ambani’s personal fortune was sufficient.<\/p>

Mukesh Ambani<\/strong> Personal life<\/strong><\/h2>

He wed Nita Ambani<\/a><\/strong> in 1985, and together they had two boys, Akash and Anant, and a twin daughter, Isha. They got together after his father went to a dance show where Nita performed and considered setting up their marriage.<\/p>

Their mansion, Antilia, is a private 27-story structure located in Mumbai. When it was constructed, it was the most expensive private property globally, valued at US$1 billion. The building has three helipads, a 160-car garage, a private movie theater, a swimming pool, and a fitness center. Maintenance on the structure calls for 600 workers.<\/p>

On her 44th birthday in 2007, Ambani gave his wife a $60 million Airbus A319 as a gift. With a 180-passenger capacity, the Airbus has been specially equipped with a living area, bedroom, sky bar, Jacuzzi, WiFi, and satellite television.<\/p>

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\"Mukesh<\/figure><\/div>

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Ambani’s acquisition of the Mumbai Indians IPL cricket franchise in 2008 for $111.9 million earned him the title of “The World’s Richest Sports Team Owner”.<\/p>

He apparently made the decision to forfeit over \u20b9240 million from his yearly compensation as the head of Reliance Industries Ltd (RIL) during the fiscal year that concluded on March 31, 2012. It was his choice to do this, despite the fact that during that fiscal year, RIL’s top management personnel received larger total compensation packages. The corporation is owned by Mukesh Ambani to the tune of 50.4%.<\/p>

Anil Ambani, his younger brother, was found criminally contemptuous by a Mumbai court at the beginning of 2019 for Reliance Communications’ failure to pay a debt personally guaranteed by the Swedish gearmaker Ericsson. The court spared Anil from prison term by giving him a month to find the money. Mukesh paid the amount and bailed out his younger brother at the end of the month. A green Mahindra Scorpio SUV loaded with explosives was discovered close to an Ambani-resident tower in Mumbai in 2021, sparking a bomb threat. He received an email threatening his life in 2023.<\/p>

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Mukesh Ambani Wife<\/strong><\/h2>

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\"\"<\/figure><\/div>

Nita Ambani (n\u00e9e Dalal, born 1 November 1963) is an Indian philanthropist. She is the chairperson and founder of the Reliance Foundation, Dhirubhai Ambani International School and a director of Reliance Industries. She is married to Reliance Industries chairman and managing director Mukesh Ambani.<\/p>

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Mukesh Ambani<\/strong> Board Memberships<\/strong><\/h2>
  • Member of Board of Governors Institute of Chemical Technology, Mumbai<\/li>\n\n
  • Chairman, managing director, Chairman of Finance Committee and Member of Employees Stock Compensation Committee, Reliance Industries Limited<\/li>\n\n
  • Former chairman, Indian Petrochemicals Corporation Limited<\/li>\n\n
  • Former vice-chairman, Reliance Petroleum<\/li>\n\n
  • Chairman of the board, Reliance Petroleum<\/li>\n\n
  • Chairman and Chairman of Audit Committee, Reliance Retail Limited
    Chairman, Reliance Exploration and Production DMCC<\/li>\n\n
  • President, Pandit Deendayal Petroleum University, Gandhinagar, Gujarat<\/li>\n\n
  • Former Director, Member of Credit Committee and Member of Compensation & Benefits Committee, Bank of America Corporation<\/li><\/ul>

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    Mukesh Ambani<\/strong> Company List<\/strong><\/h2>
    • Jio Platforms<\/li>\n\n
    • Reliance Retail<\/li>\n\n
    • Reliance Petroleum<\/li>\n\n
    • Jio Payments Bank<\/li>\n\n
    • Network18 Group<\/li>\n\n
    • Mumbai Indians<\/li>\n\n
    • Alok Industries<\/li>\n\n
    • Reliance Foundation<\/li><\/ul>

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      \"Mukesh<\/figure><\/div>

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      Stock Manipulation and Penalty<\/strong><\/h2>

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      Reliance Industries was penalized Rs. 950 crores (9.5 billion) in 2007 for manipulating shares of Reliance Petroleum Limited (RPL). The payment was divided into 447 crores (4.47 billion) in retracted gains and 500 crores (5 billion) in interest. As a Reliance subsidiary, RPL went public in April 2006 for Rs. 60 per share. After the market floated at about Rs. 100, it dropped by thirty percent, and RPL returned to sixty. In order to obtain unlawful profits from the trading of its previously listed unit, RPL, which was united with the former in 2009, RIL conducted an organised operation with the assistance of its agents, as directed by the Securities and Exchange Board of India.<\/p>

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      Mukesh Ambani<\/strong> Awards and honors<\/strong><\/h2>

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      2000<\/strong><\/td>Ernst & Young Entrepreneur of the Year<\/td><\/tr>
      2010<\/strong><\/td>Global Vision Award at The Awards Dinner<\/td><\/tr>
      2010<\/strong><\/td>School of Engineering and Applied Science Dean’s Medal<\/td><\/tr>
      2010<\/strong><\/td>Ranked 5th-best performing global CEO<\/td><\/tr>
      2010<\/strong><\/td>Global Leadership Award<\/td><\/tr>
      2016<\/strong><\/td>Foreign associate, U.S. National Academy of Engineering<\/td><\/tr>
      2016<\/strong><\/td>Othmer Gold Medal<\/td><\/tr><\/tbody><\/table><\/figure>

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      Mukesh Ambani Antilia (building)<\/strong><\/h2>

      Antilia is a private residence in the billionaires row of Mumbai, India, named after an island from 15th century Spanish tales of the Atlantic Ocean Antillia. It is the residence of the Indian billionaire Mukesh Ambani and his family, who moved into it in 2011 or 2012.<\/p>

      A magnitude 8 earthquake is intended to be withstanding by the structure. The upper six stories are devoted to individual residences. The lotus plant and the sun are included into the architecture of the edifice.<\/p>

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      \"Mukesh<\/figure><\/div>

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      With features like a 168-car garage, a ballroom, nine high-speed elevators, a 50-seat theater, terrace gardens, a swimming pool, a spa, a health center, a temple, and a snow room that shoots snowflakes out of the walls, the building is 27 stories, 173 meters (568 feet) tall, and over 6,070 square meters (65,340 sq ft).<\/p>

      Regarded as the most costly private mansion globally as of 2014, its construction cost ranged from US$1 to 2 billion (INR 20000 Crores).<\/p>

      Mukesh Ambani <\/strong>Car Collection<\/strong><\/h2>

      Mukesh Ambani, the owner of Reliance Industries, has an excellent garage, which is lined with some of the best cars available in the country at the moment. Each car is unique and customized for sheer driving pleasure. The Ambanis own some of the most expensive cars in India and keep on adding new cars every other month. While this is not the full list of cars used by the Ambani family, here are a few of the most popular cars owned by Billionaire businessmen.<\/p>

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      Bentley Bentayga<\/strong><\/td>\u20b93.85 crores<\/td><\/tr>
      Mercedes-AMG G63<\/strong><\/td>\u20b92.14 crore<\/td><\/tr>
      Rolls Royce Cullinan<\/strong><\/td>\u20b96.95 crores<\/td><\/tr>
      BMW i8<\/strong><\/td>\u20b92.62 crores<\/td><\/tr>
      Tesla Model S 100D<\/strong><\/td>\u20b91.5 crores<\/td><\/tr>
      Mercedes Benz S Guard 600<\/strong><\/td>\u20b910 crores<\/td><\/tr>
      Ferrari 812 Superfast<\/strong><\/td>\u20b95.50 crore<\/td><\/tr><\/tbody><\/table><\/figure>

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      Mukesh Ambani re-joins $100 bn club, wealth climbs $2.8 bn to $101.8 bn<\/strong>!<\/p>

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      \"climb<\/figure><\/div>

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      The richest person in India \u2014 and in Asia \u2014 saw his wealth climb $2.8 billion to $101.8 billion Thursday, as shares of his flagship, Reliance Industries Ltd., rose 2.6% to close at a record high. He\u2019s returning to the $100-billion club for the first time since June 2022, according to the Bloomberg Billionaires Index.<\/p>

      Ambani, Reliance\u2019s chairman, owns 42% of the company, which has businesses in the energy, telecommunications and retail sectors, among others. Its shares have climbed 22% from a low in October after the firm reported a jump in quarterly profit. <\/p>

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      \"Reliance<\/figure><\/div>

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      The billionaire is the 12th-richest person in the world, ahead of L\u2019Oreal heir Francoise Bettencourt Meyers.<\/p>

      With a fortune spanning oil refining to supermarkets, Ambani is an outlier among the world\u2019s richest, who predominantly made their fortunes in tech. His rise up the wealth rankings has been steadier than the roller-coaster ride of his compatriot Gautam Adani, India\u2019s former richest person. Adani lost more wealth than anyone else in 2023 after a withering short-seller attack and now sits two spots behind Ambani on the index.<\/p>

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      \"Ambani<\/figure><\/div>

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      Ambani, 66, has helped build Reliance into India\u2019s largest company by market value. In recent years, the business has diversified beyond its fossil-fuel origins toward technology and renewable energy. The listing last year of Reliance\u2019s financial services unit, Jio Financial Services Ltd., helped to broaden the sources of Ambani\u2019s wealth even further.<\/p>

      While Jio shares have only gained about 1% since going public in August, the company remains India\u2019s third-largest shadow lender by market value. The firm ultimately wants to develop India\u2019s version of WeChat, a super app that centralizes online shopping, video streaming, digital financing and stock trading, people familiar with the plans have said. In its first set of earnings since it was spun out of Reliance, Jio reported that quarterly profit doubled. <\/p>

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      Latest News in 2024 <\/strong><\/h2>

      Mukesh Ambani’s JioCinema rival gets record 131000000 users in Q4 2023 with help of single feature…<\/strong><\/p>

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      \"Mukesh<\/figure><\/div>

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      Netflix\u2019s crackdown on password sharing has helped it gain more paid users as the streaming giant added more than 13.1 million subscriptions in the fourth quarter (Q4) of 2023 that ended on December 31. Netflix is a key rival of\u00a0Mukesh Ambani\u2019s\u00a0JioCinema in India.<\/p>

      The company said in its quarterly earnings that price increases in the US, UK and France went better than it had anticipated.<\/p>

      \u201cWe largely put price increases on hold as we rolled out paid sharing. Now that we\u2019re through that, we\u2019re able to resume our standard approach,\u201d Netflix co-chief executive Greg Peters said during a call with analysts.<\/p>

      Peters said the company will continue to monitor other countries and try and assess \u201cwhen we\u2019ve delivered enough additional entertainment value\u201d.<\/p>

      \u201cWe look at engagement, retention, acquisition as the signals there so that we can go back to members and ask them to pay a bit more to keep that positive flywheel going and we can invest in more great films, series, and games for those members,\u201d he said.<\/p>

      \u201cThe summary statement might be back to business as usual\u201d.<\/p>

      The company exited 2023 with 12 per cent revenue growth, up from 6 per cent in 2022, and increased free cash flow to $6.9 billion.<\/p>

      Paid net additions reached 13.1 million in Q4 2023 as compared to 7.7 million in Q4 2022 \u2014 the company\u2019s largest Q4 ever. In Q4 2023, operating income amounted to $1.5 billion, up from $0.5 billion in the year ago period.<\/p>

      \u201cFor 2023, we generated $7 billion of operating income, up 23 per cent year over year,\u201d said Netflix.<\/p>","protected":false},"excerpt":{"rendered":"

      Mukesh Ambani Born on April 19, 1957, Mukesh Dhirubhai Ambani is an Indian billionaire businessman. At the moment, he serves as managing director and chairman of Reliance Industries, the most valuable corporation in India based on market value. 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