MukeshAmbani

Mukesh Ambani's Big Pay Cut

Filed under: Wealth

The latest trend for billionaires around the world seems to be not raises but showy pay cuts. Bloomberg reports that India's Mukesh Ambani, Asia's richest man, took a 66 percent pay cut to "set a personal example of moderation" after a government call for austerity, thereby reducing his salary before he was asked to do so. Ambani, who is the chairman of Reliance Industries Ltd., will still take home what works out to around $3.3 million in salary plus his family, which owns 49 percent of the company, gets around $216 million in dividends. His younger brother, Anil Ambani is also giving up salary and commission from the five companies he owns. Mukesh Ambani is famous for his extravagance. He is currently building what will be the world's most lavish home, a $2 billion 27-story skyscraper and in 2007 he bought his wife and Airbus 319 plane for her birthday.

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Tags: billionaire, mukesh ambani, MukeshAmbani, richest man, RichestMan

Ambani Buys His Wife An Airbus 319 For Her Birthday

by Deidre Woollard (RSS feed) —

Filed under: Wings, Celebrity Shopping

Earlier this week I mentioned that Mukesh Ambani is the newly minted world's richest man and one of the world's most profligate spenders. He did his legend proud with his latest gift to his wife Nita. Ambani spent $59 million on an Airbus 319 for his wife's birthday. Her new toy is a corporate jet with a bar, a master bedroom, showers, an entertainment cabin with games, music and movies as well as a cabin for business with wireless and satellite systems. Nita turned 44 on Thursday.

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Tags: airbus 319, mukesh ambani, MukeshAmbani, nita ambani, private jet, private plane

Meet The World's Richest Man

by Deidre Woollard (RSS feed) —

We first became familiar with Mukesh Ambani when we saw the picture of his planned billion-dollar skyscraper home. It turns out that Ambani, who we already knew as the richest man in India is now said to be the richest man in the entire world skating past Carlos Slim, Bill Gates, Warren Buffet and fellow builder of blockbuster homes, Lakshmi Mittal. BloggingStocks took a look at the actions of the top five reporting that Gates and Buffett are also the world's biggest philanthropists and that Slim has also pledged a desire to set up a $10 billion foundation. Mittal is busy buying up the world's steel production. Ambani is the chairman of Reliance Industries and his businesses include petrochemicals, oil refining, textiles, retail and biotechnology. Thus far his efforts on behalf of his fellow man just might be limited to subsidizing the 600 staff his new home is said to require.

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Tags: billionaire, expire-images:2008-10-30, india, mukesh ambani, MukeshAmbani, richest, spending