Ranked eleventh on Forbes’ list of the world’s richest individuals with a staggering net worth of $113.6 billion (approximately Rs 9,43,091 crore), Mukesh Ambani is undeniably India’s wealthiest business magnate. As the Chairman of Reliance Industries Limited (RIL), a colossal conglomerate with diversified interests spanning telecommunications, petrochemicals, retail, refining, and more, Ambani’s influence on the Indian business landscape is unparalleled.
Facilitating the smooth operations of this vast business empire is Manoj Modi, a close friend, business associate, and one of the longest-serving employees at RIL. Appointed as Director at Reliance Retail and Reliance Jio in 2007, Modi has played a pivotal role in numerous multimillion-dollar deals, including the monumental agreement between Facebook and Reliance in 2020, which saw the former investing Rs 43,574 crore for a 9.99% stake in Reliance Jio.
What’s less known to the public is the close association between Mukesh Ambani and the Poddar family, boasting an estimated net worth exceeding Rs 30,223 crore. In a lesser-known connection, Manoj Modi’s daughter is married to Rajiv Poddar, the Joint Managing Director of Balkrishna Industries Limited (BKT Tires).
Specializing in manufacturing tires and diverse equipment for vehicles utilized in agriculture, mining, and construction, BKT Tires has been a prominent player since its establishment in 1951, initially operating in the textile market before venturing into bicycle tire production in 1963 and later expanding into the off-highway tire market in the mid-’90s.
Arvind Poddar, Rajiv Poddar’s father, holds the 59th spot on Forbes’ list of the richest individuals. Despite maintaining a low profile, the father-son duo has made notable strides in the business realm, exemplified by the inauguration of a new factory in Maharashtra in 2021, signaling their commitment to expanding operations in the western region.
Adding to the family’s business prowess, Rajiv Poddar’s wife, Bhakti Modi, assumes the role of Joint Managing Director at Balkrishna Industries Limited (BKT Tires). Beyond her contributions to the tire industry, Bhakti Modi co-founded Tira, an omni-channel platform for beauty products launched in April 2023, according to an Economic Times report.
Furthermore, she assumed the position of director at Reliance Brands in 2022, overseeing global brands in the country. The camaraderie between Mukesh Ambani and Manoj Modi dates back to their college days, solidifying over the years. In 2023, Mukesh Ambani demonstrated their enduring friendship by gifting Manoj Modi a lavish 22-storey building worth Rs 1,500 crore named Vrindavan, situated on Nepean Sea Road.
The building’s first seven floors are dedicated to car parking, with the remaining floors offering expansive living spaces spanning 8,000 square feet each. This grand gesture stands as a testament to the deep bonds forged over decades of friendship and shared business ventures between the two luminaries. This lesser-known connection sheds light on the intricate web of relationships and business ties that define India’s corporate landscape.
