Reliance Company is one of the most profitable companies in India. It has business in almost all sectors. It is the first-ever company in India to cross 10 lakh crore market capitalization. Let’s known about the founder of this company.
Do you know the difference between a good entrepreneur and a great entrepreneur? Most of the good entrepreneurs have a family background whereas great entrepreneurs are those who start from scratch. Great entrepreneurs most of the time are first-generation entrepreneurs who grew from practically zero. And this makes Dhirubhai Ambani a great entrepreneur.
Dhirubhai Ambani was born on 28th December 1932. He is known as an Indian business tycoon. He was born in Gujarat. He joined many protests in his youth. As his participation in the protest, his leadership qualities were evident. His qualities are described as friendly yet ambitious. It is known that he made quite a good amount of money by melting silver bullion and used to sell it as pure silver.
Later when he returned to India he built a partnership company with his cousin known as Majin. This company was started to import polyester yarn also to export spices to Yemen.
Reliance’s first office was set up in Masjid Bunder, Mumbai. In the beginning, there were only two employees to help with their business. Their partnership was ended around 1965. It’s believed that the reason for splitting of the business was that they both had different ambitions and different working style.
Dhirubhai Ambani is also known as risk-taker. He was also convinced that building inventories will increase profit. Reliance became public in 1977. During this period the Indian stock market was not as huge as compared to today. In a way, he really used the power common investors to grow Reliance. The company was worth around $25.6 billion during his death.
— Atal Bihari Vajpayee, former Prime Minister of India