One of the world's most lavish weddings, the union of Anant Ambani and Radhika Merchant, has captured global attention. The youngest child of India's richest man, Mukesh Ambani, tied the knot with the daughter of healthcare tycoon Viren Merchant in a multi-day, multi-city affair. The event was graced by celebrities and dignitaries worldwide, including John Cena, members of the Kardashian family, and two former British prime ministers.
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A Portfolio For The Ages
Long before the wedding made headlines, real estate watchers marveled at the impressive real estate portfolio amassed by Mukesh Ambani and his family. The Ambani family owns Reliance Industries, India's largest private corporation, and Mukesh Ambani's net worth is over $123 billion, according to Forbes. The Ambani family's most stunning property is Antilla, a 400,000 square-foot tower in Mumbai, reportedly worth $2 billion. The tower is 570 feet tall and has a unique staggered appearance, separating different parts of the structure. It was designed by Chicago architecture firm Perkins + Will to be both expansive and surprisingly green with vertical and horizontal gardens. In 2007, Ralph Johnson, Perkins + Will’s firm-wide design principal, called Antilla a "prototype for buildings of the future."
The family's ancestral home, Sea Wind, is a 14-story tower where Anil Ambani, Mukesh Ambani's brother, still lives. This Mumbai dwelling was once home to the entire family, each housed on separate floors. After the passing of the family's patriarch, Mukesh Ambani started planning a home of his own.
Spanning The Globe
The Ambanis also own several properties in Dubai’s exclusive Palm Jumeirah development. In 2022, Mukesh Ambani made headlines by spending $238 million on two villas, setting a new record for home sales in Dubai. The man-made archipelago, with its distinctive palm-frond shape, is one of the most coveted locations on the planet. Residents enjoy access to several hotels, each with its beach club, and a luxury mall housing top brands. The development, which opened in 2007, offers a variety of housing types, including condominiums, but only the most affluent, like Ambani, can afford a villa, let alone two. One villa spans over 27,000 square feet, while the other is over double the size, offering over 59,000 square feet of luxury living space.
Through Reliance Industries, Mukesh Ambani also owns Stoke Park, a 300-acre estate in Buckinghamshire in southeast England. Ambani acquired the property's estate lease for over $73 million in 2021. Since then, he and his team have been actively modernizing the estate, planning to upgrade the mansion and expand existing hotel facilities. This move stirred controversy, especially when the new proprietors closed the golf course, leaving 850 members without their favorite destination. In 2022, Michael Blair of Blair Architects, who was charged with refurbishment, revealed that the stucco started falling and that the stonework needed serious repair. The plans include a complete reimagining of the grounds and the buildings.
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Ambani's hotel ambition also brought him to the U.S. in 2022 when he snapped up a controlling stake in the Mandarin Oriental New York. The Mandarin Oriental brand is well known as a top luxury hotel, and this 248-room property is in an ideal location in Manhattan overlooking Columbus Circle, just steps from Central Park. Ambani paid $98 million for his stake, representing 73% of the hotel. The hotel was valued at $340 million in 2007, meaning Ambani may have gotten a nice deal on this purchase.
While the Ambani-Merchant wedding extravaganza has raised eyebrows around the world for the scope and expense of the celebration, for India's richest man, spending on what he wants is nothing new. But while weddings come and go, leaving only memories in their wake, Mukesh Ambani's real estate portfolio should deliver value for years.
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Don't miss out on this opportunity to take advantage of high-yield investments while rates are high. Check out Benzinga's favorite high-yield offerings.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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