From Forbes List to Zero Net Worth: What Really Happened to Anil Ambani’s Fortune
Once worth over $40 billion, Anil Ambani now claims zero net worth. His empire collapsed under heavy debt, failed bets in telecom and power, and rising legal troubles. With ED and SEBI investigations ongoing, his fall stands as a cautionary tale in Indian corporate history
In 2008, Anil Ambani was counted among the world’s richest, with a net worth of over $40 billion. Today, the former billionaire claims he has no meaningful assets. The dramatic fall of the younger Ambani — once a symbol of ambition and rapid growth — stands as one of India’s most striking corporate downfalls.
Here is a lowdown on the timeline of events:
Post-split expansion
After splitting from his elder brother Mukesh Ambani in 2005, Anil Ambani took control of telecom, power, infrastructure, and finance businesses under the Reliance ADA Group. For a while, the gamble paid off. His companies raised billions, attracted investors, and dominated headlines.
At the same time, the growth was built on massive debt. And when key businesses like Reliance Communications (RCom) and Reliance Power faltered, the house of cards began to crumble.
Debt, disruption, and decline
RCom was once India’s second-largest telecom operator. But it couldn’t survive the disruptive pricing strategy by Mukesh Ambani’s Jio in 2016. Drowning in debt, RCom filed for bankruptcy in 2019, with dues topping Rs 45,000 crore.
Reliance Power’s record IPO in 2008 raised hopes — but projects stalled, earnings slumped, and investor faith waned. Over the next decade, the value of most group companies crashed by over 90%.
‘Zero Net Worth’ and legal trouble
In 2020, testifying in a UK court, Anil Ambani declared he had “zero net worth” and was financially supported by his family. He was fighting a $700 million loan dispute with Chinese banks — a far cry from his billionaire days.
Back home, several companies under his group entered insolvency. Reliance Capital was recently auctioned off, while others continue to face debt resolution.
Under ED radar
The decline hasn’t just been financial. Enforcement agencies are now investigating allegations of fund diversion and irregular lending involving RCom, Reliance Home Finance, and other firms. The Enforcement Directorate (ED) has launched raids, while SEBI has flagged serious lapses in financial governance.
What is it left with?
Most of Anil Ambani’s empire has either been dismantled or drastically scaled down. While Mukesh Ambani is Asia’s richest man, Anil's fall is a reminder that success built on borrowed money and unchecked ambition can vanish just as quickly.
Published By : Avishek Banerjee
Published On: 24 July 2025 at 12:48 IST