Reliance Industries recently achieved a historic milestone, becoming the first Indian company to reach a market capitalization of Rs 20 lakh crore. Mukesh Ambani, the visionary Chairman and Managing Director of Reliance is widely lauded for the colossal growth and expansion of the conglomerate. However, behind every successful leader lies a network of trusted allies. While Manoj Modi is often recognized as Ambani’s right-hand man, there exists another significant figure in the billionaire businessman’s inner circle — his longtime friend, Anand Jain.
Anand Jain, the Chairman of Jai Corp Limited, shares a deep bond with Mukesh Ambani, extending back to their childhood years. Their friendship blossomed during their shared tenure at Hill Grange High School in Mumbai. Following Ambani’s return from Stanford University in 1981, Jain, having already collaborated closely with Reliance founder Dhirubhai Ambani, made the pivotal decision to join Reliance Industries, leaving behind his ventures in Delhi.
In 2007, Anand Jain was ranked as the 11th richest Indian by Forbes, with a staggering net worth of $4 billion (approximately Rs 33,154 crore), primarily attributed to Jai Corp’s soaring market value of $45 billion (approximately Rs 3.7 lakh crore). However, in subsequent years, his fortunes underwent fluctuations, with his net worth declining to $525 million (approximately Rs 4,351 crore) by 2012.
Jai Corp, established in 1985, boasts diverse business interests, spanning steel manufacturing, plastic processing, yarn spinning, and real estate development. The company’s ventures include the establishment of Special Economic Zones (SEZs), infrastructure projects, venture capital investments, and participation in real estate endeavors, with investments in 33 projects across 14 Indian cities.
Anand Jain’s expertise in real estate, finance, and capital markets has positioned him as a vital asset within Reliance Industries. Serving as a strategic advisor to Mukesh Ambani, Jain has played a pivotal role in navigating the conglomerate’s real estate transactions and capital market endeavors. His contributions extend beyond corporate realms, with stints on the boards of Mumbai Port Trust and Jawaharlal Nehru Port.
Despite his influential role within Reliance, Anand Jain reportedly refrains from drawing a salary from the conglomerate. Instead, he leverages his acumen to oversee the day-to-day operations, particularly within Reliance Infocomm, the telecom subsidiary.
Outside the realms of business, Anand Jain leads a private life in Mumbai alongside his wife, Sushma Jain, a homemaker. The couple shares two children, Neha Jain and Harsh Jain. Interestingly, Harsh Jain, alongside Bhavit Sheth, is the co-founder of Dream11, India’s leading fantasy sports platform.
Founded in 2008, Dream11 made waves in the sports industry, emerging as the first Indian fantasy sports company to attain unicorn status in April 2019. With a burgeoning user base exceeding 200 million as of October 2023, Dream11 continues to revolutionize the sports entertainment landscape, offering enthusiasts the opportunity to engage in fantasy cricket, football, baseball, and more.
Anand Jain’s multifaceted journey, from business magnate to trusted confidant, underscores the significance of enduring friendships and strategic collaborations in the realm of entrepreneurship. As Reliance Industries continues its trajectory of innovation and growth, Anand Jain remains a steadfast ally, contributing his wealth of experience and insights to the conglomerate’s enduring success.
