Anil Ambani once had a net worth of over $42 billion and was ranked as the 6th richest person in the world in 2008. However, excessive debt, investments that did not pay off, and the global economic slowdown caused the decline of Anil Ambani's fortunes.
His telecom company Reliance Communications accumulated debt of over Rs. 45,000 crore which it could not repay, leading to its collapse.
Currently, Anil Ambani's net worth is estimated to be around Rs. 250 crore. He is focusing on restructuring debt and selling assets to improve his financial situation.
Anil Ambani's story serves as a cautionary tale of the dangers of excessive risk-taking, debt and unchecked ambition in business.
Anil Ambani's risky and ambitious ventures, combined with external factors, resulted in the crumbling of his business empire and decline in his net worth.
If the Indian economy improves and Reliance Group reduces its debt, Anil Ambani's net worth may start recovering. However, full recovery to his peak wealth seems unlikely.