Meet Dhirubai Ambani’s ‘third son’, close friend of Mukesh Ambani, joined Reliance after leaving…, he is now…

Anand Jain reportedly joined the Reliance Group, leaving his own business in Delhi, in 1981 when Mukesh Ambani returned from Stanford University.

Its a well-known fact that Mukesh Ambani, the richest man in Asia, was helped by his close friends and loyalists within Reliance during his bitter feud with younger brother Anil Ambani, which ultimately resulted in split of Reliance, a company established by Anil and Mukesh’s father, Dhirubhai Ambani, into two separate businesses.

One of those key figures, who is regarded a part of Mukesh Ambani’s inner circle is Anand Jain, a distinguished businessman in his own right who has over three decades of experience across multiple sectors, such as finance, capital markets, and real estate.

Who is Anand Jain?

A renowned name in the business world, Anand Jain heads Jai Corp Limited as its Chairman, and was once ranked 11th on the Forbes’ list of 40 richest Indians. Anand’s son, Harsh Jain is the co-founder and CEO fantasy sports platform, Dream 11.

According to Forbes, Mukesh Ambani and Anand Jain had planned to develop several special economic zones (SEZs) as well as a port, but faced setbacks in land acquisition. Jain is a major name in the real estate business, having investments in 33 projects in 14 cities across India.

Anand Jain and Mukesh Ambani share a close friendship since the school days at Mumbai’s Hill Grange High School. Over time, Jain also became close to Dhirubhai Ambani, and was considered a close confidante of Reliance founder till the latter’s demise. For this reason, Anand Jain is referred to by many as Dhirubhai Ambani’s “third son”.

Anand Jain- a distinguished businessman

While living in the shadow of a business leader like Mukesh Ambani can be overwhelming for many, this is certainly not the case with Anand Jain, who started his journey in the business world almost simultaneously with Mukesh. Anand Jain first came to limelight in Reliance during the mid-1980s, when he played a key role in dismantling a bear cartel led by former Bombay Stock Exchange (BSE) kingpin, Manu Manek.

Later, Jain would slowly become a central figure in the management of Reliance’s day-to-day operations, especially in Mukesh Ambani’s pet telecom project, Reliance Infocomm, which later became Reliance Jio Infocomm Limited (RJIL), and is currently the largest telecom provider in India.

Jain also closely managed Reliance’s real estate ventures due to his expertise in the sector.

Never taken a salary

Despite being closely associated with the Reliance Group for over 25 years, Anand Jain has reportedly never taken a salary, his close friendship Mukesh Ambani and his respect for late Dhirubhai Ambani, apparently being the only reasons for his association with the Fortune 500 conglomerate.

Anand Jain reportedly joined the Reliance Group, leaving his own business in Delhi, in 1981 when Mukesh Ambani returned from Stanford University. Since then, Jain has remained closely associated with Reliance, and currently serves as a senior executive, in charge of a team working on the first greenfield SEZ in Mumbai.

Jain, whose net worth is pegged at around $525 million, according to Forbes, has previously served as as vice-chairman of Reliance Capital and was also on the board of Indian Petro Chemicals Ltd.

Apart from his role in Reliance, Anand Jain is also the chairman of the venture capital firm, Urban Infrastructure Venture Capital Limited, which finances young entrepreneurs and businesses.