Ambani Vs Ambani: How Have the Brothers Fared Since Their Split? Mukesh Ambani’s Reliance Industries Ltd sold dollar bonds at the cheapest rate by a non-financial Indian issuer this week. That came days after his younger brother Anil Ambani’s Reliance Communications Ltd defaulted on its bond payments. It somewhat sums up how the fortunes of the billionaire siblings have diverged since their split in 2006. As part of the family settlement, the older Ambani got oil refining, exploration and petrochemicals businesses housed under RIL, the owner of the world’s largest refinery in Jamnagar, Gujarat. The faster-growing financial services, infrastructure and telecom businesses went to the younger brother. More than a decade and a gas dispute later, Mukesh Ambani now also has a large retail business and a data-driven wireless carrier that has triggered a tariff war. Anil Ambani’s businesses haven’t fared that well. Reliance Communications, under pressure due to piling deb...
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