Friday, June 17, 2011

The cost of being the richest...

“The real measure of your wealth is how much you’d be worth if you lost all your money.”

Have always thought that the following building was ugly.

It may be the world’s priciest private residence owned by the world’s fifth richest man and it may have started when Mrs. Nita Ambani was relaxing at a spa at the Mandarin Hotel, New York, and when the Asian interiors struck her, she inquired about the designer.

But now we know for sure that this building shall stand as the ugliest image of corruption in India. It was indeed at the cost of millions of Indians who have been enduring the vagaries and the blatant disregard of a few, who managed to be at the helm of this business of corruption.

Source: by joelnewell

And sadly, those who suffer shall continue to do so for many more years to come.

The Comptroller and Auditor General (CAG) of India has come down hard on Mukesh Ambani-controlled Reliance Industries Limited (RIL), suggesting the company grossly overstated its development costs in India's largest gas field, possibly causing "significant" financial losses to the exchequer.

As the production-sharing contract involves profit-sharing with the government, a higher capital expenditure results in the profit being lower for the government than it would be otherwise, which the CAG has explained in its 200-page June 7 report to the petroleum ministry.

The CAG report has revealed severe irregularities and violations on part of private operators and government departments and ministries.


And while reading certain news, one is made to believe that these super rich are magnanimous/benevolent since they are investing their “hard earned” money in India.

Ambani Invests $16.9 Billion In The Heart Of India

But then life shall go on and one should only wait for the next increase in fuel price. One can also wait for the other brother to come up with his idea of a home.

Barely weeks after Mukesh Ambani moved out of Sea Wind, the family’s joint home, into his own 27-story tower that has been billed as the world’s most expensive private residence, comes the news that younger brother Anil is planning to construct his own palace in the sky.



  1. The share holders of Reliance are dumb asses, else no one will put up with this vulgarity of Ambanis called residential construction.
    I guess sitting in his "Tower of Babel" Mr Ambani can survey with pleasure the birds eye view of the slums of Mumbai. he can survey with immense pleasure

  2. About that building being an eye sore, I concur.
    An insider once told me that ONGC did some preliminary exploration in Krishna-Godavari basin and provided the data to the Ministry in early 1990s. This data apparently was leaked to the Ambanis who just stepped into the petrochemical business. With their phenomenal clout and lobbying power, the Ambanis were awarded those exact same fields. It is almost unbelievable in the oil exploration industry to strike oil on the very first try.

  3. both the Ambani brothers have gone crazy, they have literally started a sort of competition amongst themselves.

    I fully agree with what Ratan Tata commented on Mukesh Ambani's residence. So much opulence is not right.

  4. Anil: There are some who feel that it is the Ambani's who have learned to tame the red tape and in turn brought them the riches. There are also those who feel that the oil sector would have never really opened up, if not for the Ambanis. Sadly many Indians are invested with the Ambanis and they shall pray even more fervently for his dear health and well being.

    Uptake: Ambani's did find a way to tame our babus and got away with it. I am also told that all those retired from good positions from the govt. oil companies are immediately absorbed in his own firm. This may be for favours received. And as you said, it is unbelievable in the oil exploration industry to strike oil on the very first try.

    AS: and the head of the country offering himself to mediate this family fued? Is that not the heights! Ratan Tata did the right thing by pointing it out. Our billionaires have not become rich by their own merit.. it would be better if they learn not to flaunt it.

  5. @ Happy Kitten,

    The Ambanis alibi of "red tape" is nonsense. Who created the system? We and that includes men like the Ambanis at the helm of manipulative business operations. We create a Frankenstein and then blame it for the ensuing evil is folly and cannot be accepted as an excuse for our deeds.

  6. Anil: Agree with you totally.. and do have a look at the following... not sure if you have read the book itself..

  7. it is the most stupid looking house or mansion or whatever you call it.

    at least the guy should have gone to Barcelona and seen some of the stuff Antoni gaudi built in his prime to get some ideas..

  8. Maddy: Stupid it is..nd to think that she hired famous designers!

  9. I dont know why but I dont have any trust in Ambani brothers..every year there is some report o their corruption sometimes in phone calls, sometimes spectrum.etc etc..npbody rises so fast with out some extra favours.

  10. Renu: think it will not be wrong if one bestows the title "Father of Corruption" to the Ambanis. But sadly they have let some Indians taste success in some ways and hence they continue to be revered.


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