Anand Jain, Chairman of Jai Corp Limited, is a name that resonates with nearly 30 years of experience in industries ranging from real estate to finance and capital markets. Known for his close friendship with Mukesh Ambani, one of India’s wealthiest and most influential figures, Jain has often been referred to as the “third son” of the legendary industrialist Dhirubhai Ambani.
Jain’s business ventures are vast and varied. His real estate portfolio includes 33 projects across 14 cities in India, managed through two funds. However, plans he once shared with Mukesh Ambani for the development of special economic zones (SEZs) and a port faced delays due to land acquisition challenges.
In 2007, Jain was ranked 11th on Forbes India’s 40 Richest list, underscoring his immense wealth and influence. His son, Harsh Jain, has also made his mark by co-founding Dream11, one of India’s leading fantasy sports platforms.
A Key Player at Reliance Industries
Jain first gained recognition in the mid-1980s when he played a key role in dismantling a bear cartel led by Manu Manek, a former kingpin of the Bombay Stock Exchange. This marked the beginning of his long-standing association with Reliance Industries, where he became instrumental in managing the company’s telecom and real estate divisions. Notably, sources close to RIL reveal that Jain has never accepted a salary from Reliance Industries, further emphasizing his loyalty and dedication to the company.
Over his career, Jain has held significant roles, including vice-chairman of Reliance Capital and a seat on the board of Indian Petro Chemicals Ltd. He now chairs Urban Infrastructure Venture Capital Limited, overseeing the management of the Urban Infrastructure Venture Capital Fund.
A Friendship Spanning Decades
Jain’s connection with Mukesh Ambani goes beyond business. Their friendship dates back to their school days at Hill Grange High School in Mumbai. He was also a trusted confidant of Dhirubhai Ambani, Mukesh’s father and the founder of Reliance Industries. After Mukesh Ambani’s return from Stanford University in 1981, Jain left his own business in Delhi to fully immerse himself in Reliance’s operations, and today, he continues to oversee major projects for the Reliance Group.
Forbes estimates Jain’s net worth to be $525 million, reflecting his standing as one of India’s most powerful yet understated businessmen.
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