Newcastle United takeover: Who is Mukesh Ambani? His net worth and why he could be trending
Newcastle United takeover talk refuses to go away ahead of this month’s Competition Appeal Tribunal – as an old name crops up.
Indian businessman and billionaire Mukesh Ambani, previously linked with a takeover in 2008 and 2011, is trending again.
Here’s everything you need to know about Ambani and the reasons why he could be trending 10 years on from the last time he was linked with a move for the club.
Who is Mukesh Ambani?
Ambani is the founder and chairman of oil and gas giant Reliance Industries – one of India's most valuable companies.
Reliance was founded by his late father Dhirubhai Ambani. He sadly passed away in 2020, leaving Mukesh and younger brother Anil to head up up the family empire.
The company first invested in the British market in 2019 after buying toy retailer Hamleys.
Debenhams, who Newcastle owner Mike Ashley once held a stake in and attempted to buy, was also on its radar in 2020 but no sale materialised.
What is Mukesh Ambani’s net worth?
Ambani’s is listed as the 11th richest person in the world and 1st in India – according to Forbes – with a net worth of $84.5billion.
In pounds, that works out at just under a whopping £67bn.
Has Mukesh Ambani’s shown previous interest in Newcastle United?
The name Ambanihas twice been linked with a takeover of Newcastle.
Interest first emerged in 2008 from Anil Ambani, Mukesh’s brother, with reports claiming he was set to launch a £260million bid.
The Telegraph quoted a source at the time saying: “Ambani has twice as much money as (Roman) Abramovich and his intentions are deadly serious.
“His people will put a set of proposals to Ashley and if they don’t like them they will say 'that’s it’ and turn their attention elsewhere. They won’t be messed about.”
Anil reportedly backed off from negotiations following the departure of Kevin Keegan before returning to the fold in March 2011.
His older sibling Mukesh was said to be keen on buying Liverpool before they were sold to current owners US-based Fenway Sports Group.
Is there a connection with Public Investment Fund of Saudi Arabia?
Perhaps interestingly, Governor of the Public Investment Fund of Saudi Arabia Yasir Al-Rumayyan joined Ambani’s company Reliance Industries as Independent Director in June.
Speaking at the time, Ambani said: "I welcome H.E. Yasir Al-Rumayyan, Chairman of Saudi Aramco and Governor of PIF, to join the Board of Reliance Industries as Independent Director.
"He is one of the most renowned names in energy, finance, and technology globally.
"I'm sure that we will immensely benefit from his rich experience of running one of the world's largest companies and, also, one of the largest sovereign wealth funds in the world.
"His joining of our board is also the beginning of internationalisation of Reliance. You will hear more about our international plans in the times to come."
Why is Mukesh Ambani trending?
The simple answer is – we’re not too sure.
There have been no recent reports linking Ambani to a potential takeover of Newcastle United.
The link to PIF might interest Newcastle fans but there is nothing to suggest yet that Ambani is hoping to take the club off Ashley’s hands.