Meet Mukesh Ambani’s best friend and ‘third son’ of Dhirubhai Ambani, he is the chairman of…, his connection with Dream11 is…

Reliance Industries has made history by becoming the first Indian company to cross a market value of Rs. 20 lakh crore. While much of the credit goes to Mukesh Ambani, the company’s Chairman and Managing Director, such success is rarely achieved alone. Most people know Manoj Modi as Ambani’s closest aide, but there’s another trusted figure who’s played a key role behind the scenes — Anand Jain.

Anand Jain, now the Chairman of Jai Corp Limited, has been a close friend of Mukesh Ambani since childhood. He was often referred by many as the “third son” of Reliance Industries founder Dhirubhai Ambani. The two studied together at Hill Grange High School in Mumbai. When Ambani returned from Stanford University in 1981, Jain,  who was already working with Mukesh’s father, Dhirubhai Ambani, decided to leave his business in Delhi and join Reliance.

Jain’s business journey has seen major highs and lows. In 2007, Forbes listed him as the 11th richest Indian with a net worth of around USD 4 billion (about Rs. 33,000 crore at the time), thanks to the rise in value of Jai Corp, which had a market cap of USD 45 billion. But over the years, his wealth saw a sharp dip, and by 2012, it had dropped to USD 525 million (around Rs. 4,350 crore).

Jai Corp, founded in 1985, is active in several industries including steel, plastic, yarn spinning, and real estate. The company has also invested in large infrastructure and Special Economic Zone (SEZ) projects, along with venture capital and real estate across 14 cities in India, with a total of 33 projects under its belt.

Anand Jain’s deep knowledge of real estate, finance, and capital markets has made him a key figure within the Reliance Industries circle. As a long-time strategic advisor to Mukesh Ambani, Jain has been instrumental in managing the group’s major real estate deals and navigating complex capital market operations.

Beyond Reliance

His influence extends beyond Reliance. He has also held positions on the boards of the Mumbai Port Trust and Jawaharlal Nehru Port, contributing his insights to public infrastructure bodies.

Interestingly, despite his strong presence in the company, Anand Jain reportedly doesn’t take a salary from Reliance. Instead, he uses his experience to guide operations, particularly in the telecom arm, Reliance Infocomm.

Anand Jain’s personal life

Away from the business spotlight, Jain leads a quiet life in Mumbai with his wife, Sushma Jain, who is a homemaker. They have two children, Neha and Harsh. Meanwhile, his’s daughter, Neha, is married to Anurag Bagaria, and his son, Harsh Jain along with Bhavit Sheth, co-founded Dream11 — India’s top fantasy sports platform.

Launched in 2008, Dream11 became the first Indian fantasy sports company to reach unicorn status in April 2019. As of October 2023, it had over 200 million users, offering fans a chance to play fantasy versions of cricket, football, baseball, and more — changing the way Indians engage with sports.

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