Dubai: Indian billionaire and Reliance Industries Limited Chairman Mukesh Ambani is reportedly the mystery buyer of the most-expensive villa in Dubai.
According to a report in TOI, Reliance Industries Limited (RIL) has bought a beach-side villa that is worth $80 million.
It is reported that Mukesh Ambani’s younger son Anant Ambani has purchased the property on Palm Jumeirah. The villa has 10 bedrooms, a spa, indoor and outdoor pools, etc.
Ambani family owns 27-storeyed Antilla in Mumbai. The family has been acquiring prime properties in many countries including the United Kingdom and the United States.
Why are ultra-rich individuals preferring Dubai?
In recent years, it has been seen that many ultra-rich individuals are preferring Dubai to buy properties. The reasons behind it are the country’s golden visa, less curb on foreigners owning properties, etc.
Many celebrities have owned properties in Dubai. These celebrities include Bollywood superstar Shah Rukh Khan, British footballer David Beckham, etc.
Who is Anant Ambani?
He is the youngest son of Mukesh Ambani. He is one of the three heirs of the billionaire’s $93.3 billion fortune.
Recently, Mukesh Ambani started handing the reins to his children.
In June, he resigned as a Director in Reliance Jio Infocomm Limited with the company’s Board approving his elder son Akash Ambani’s appointment as the Chairman.
Apart from Akash Ambani and Anant Ambani, another heir of the fortune is Isha Ambani.
Reliance’s succession history
After the sudden death of Dhirubhai Ambani, the founder of Reliance Industries on July 6, 2002, tensions elevated between his sons, Mukesh Ambani and Anil Ambani as he did not leave a will for the distribution of the empire.
It was the mother of Mukesh Ambani and Anil Ambani who divided the empire into two. Mukesh Ambani got control of Reliance Industries Limited and Indian Petrochemicals Corporation Limited.
To avoid such tussles between siblings of the next generation, Mukesh Ambani began the succession process.
Reliance Industries Limited
Reliance Industries Limited (RIL) is a multinational conglomerate company headquartered in Mumbai.
As of March 31, 2022, the market capitalization of RIL is $243 billion.
The list of subsidiaries of the conglomerate is as follows:
- Jio Platforms
- Reliance Retail
- Reliance Petroleum
- Jio Payments Bank
- Network18 Group
- Mumbai Indians
- Alok Industries
- Reliance Foundation
