NEW DELHI: The fall of Reliance Communications is part of the long decline at the Reliance Group. Personal fortunes of Reliance Group chairman Anil Ambani too have shrunk ever since he and his elder brother, Mukesh Ambani, split the family business in 2006.
In 2007, Anil Ambani had a net worth of $45 billion, according to the Forbes Rich List. His biggest asset was a 66% stake in telecom venture Reliance Communications. Elder brother Mukesh had a net worth of $49 billion. In the 2017 Forbes Rich List, Anil's net worth had shrunk to just $3.15 billion while Mukesh's was $38 billion.
The group companies too reflected this trend. The 10-year compounded annual growth rates (CAGRs) of Mukesh's Reliance industries have been 11.2 (sales), 9.4% (profit) and 17.8% (returns), according to a Bloomberg report. The same rates for Anil's Reliance Group have been 9.4%, -12.6% and -1.7%.