- TitleChairman and managing director
- AffiliationReliance Industries
In less than two years, India’s richest man has brought mobile data to the masses—and completely upended the country’s telecom market. Since Ambani, chief of the $47 billion conglomerate Reliance Industries, launched Jio—the first mobile network in the world to be entirely IP-based—in September 2016, the company has signed up a staggering 168 million subscribers. The secret? Offering dirt-cheap data and free calls (and plowing billions of dollars into the infrastructure that transmits them). The effect, dubbed “Jio-fication,” has driven India’s higher-price carriers to drop costs (if not run them out of business), and it fueled a 1,100% rise in India’s monthly data consumption.