India’s Squabbling Siblings: A Tale of Two Billionaires
One of the most fascinating stories in international finance currently is that of the Ambani Brothers, Mukesh and Anil, from India. Theirs is a sweeping family saga spiced with money, ambition, avarice and sibling rivalry which is keeping the financial markets not only of India but the world over riveted. These two men are among the richest in the world, with vast business holdings, enormous riches and tremendous clout in the financial markets of the world. If one sneezes, the Indian stock market catches cold!
Dhirubhai Ambani’s was the original rags to riches story. When he died some years ago he left a staggeringly vast empire but no will and two sons; each ambitious and believing that he deserved a portion of the pie that was being usurped by the other. Enter the mother. Kokilaben Ambani the tycoon’s widow helped arrive at a pact and there was a division of assets resulting in an uneasy peace being brokered between the bickering brothers.
However now the squabbling siblings are once again at loggerheads and this time it is natural gas that is causing the rift. And this time the murky world of politics is also involved with Anil accusing the minister of petroleum in India of siding with his brother Mukesh. According to a settlement brokered Mukesh Ambani’s Reliance Industries Limited (RIL) was to supply 28 million cubic meters of gas a day at $2.34 per million units to Anil Ambani’s Reliance Natural Resources Limited (RNRL) for 17 years.
However $4.20 per million units was the price set by the government in 2006 for all buyers of gas from the basin. This was not acceptable to younger brother Anil since a lower price was fixed inter se between the brothers under their family pact. Of course there is the entire legal tangle to sort out and the matter is now before the Supreme Court; and Anil is shouting foul play and partisanship by the Ministry of Petroleum, who is saying this is a natural resource and does not belong to either of the brothers. Whew!
A fascinating story there about big money, big business, charged with emotion, featuring estranged brothers and even a legal battle and a dash of politics thrown in. Sidney Sheldon and Jeffery Archer are probably wishing they had thought of this story first!
These types of stories really fascinate me. I’m talking about the money not the inhuman actions.
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Would sooner than later make a great Television serial I think.
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They should try to avoid doing business with each other at all costs.
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Superman vs Batman???
Who is winner….
everybody know
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As the Current situation of world’s economy markets as well in india such quarrel for business and getting hike on each other may be prove in bad result for economy.
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Wow, as stated in a previous post this would definatly make a great tv series. Truely a remarkable story, thanks for sharing it.
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it’s really a sad story for a family. brothers should not be came a competitor like that.
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A incredible story, there is any book about Ambani brothers?
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