A 2700 crore deal was completed in just a 5-minute car ride! Mukesh Ambani recounts the entire story
Asia's richest man, Mukesh Ambani, has made an interesting revelation. He revealed that his mega deal worth ₹2700 crore (27 billion rupees) with BlackRock was finalized not in a boardroom, but in a mere five-minute car ride.
We often hear that major business deals take months, sometimes even years, to finalize. They involve a team of lawyers, lengthy meetings, and reams of paperwork.
But when it comes to Asia's richest man, Mukesh Ambani, this story changes. Reliance Industries Chairman Mukesh Ambani recently made a revelation that has shocked even the business community.
He revealed that his multi-billion dollar partnership with BlackRock, the world's largest asset manager, was finalized not in a boardroom, but in the backseat of a car.
Those 5 minutes that changed the game
In fact, at the Jio-BlackRock 'Investing for a New Era' event held in Mumbai, Mukesh Ambani shared his conversation with BlackRock CEO Larry Fink. Recalling that meeting in 2023, Mukesh Ambani said that it didn't take him long to convince Larry Fink. Ambani said, "This was a conversation we had in 2023. It took me just five minutes to say, 'Larry, BlackRock should come back to India.'"
BlackRock CEO Larry Fink immediately asked, "Will you partner with me?" This laid the foundation for a major revolution in India's financial sector. Larry Fink explained that he had to travel from one place to another, and during that very car ride, this historic deal was finalized.
2700 crore mega plan
This five-minute conversation resulted in Reliance's financial arm, Jio Financial Services, joining forces with American giant BlackRock. The two companies formed a joint venture (JV) with a total investment value of $300 million, or approximately Rs 2717 crore. Both companies have equal stakes in this partnership.
BlackRock is the 'Baahubali' of the financial world.
The company run by 73-year-old Larry Fink is the world's largest asset manager. By the end of December 2025, BlackRock was managing investments worth over $14 trillion (Mahashankh).
This huge sum is larger than the total economy of many countries. On the other hand, there's Mukesh Ambani, whose company, Reliance Industries, is present in every major sector, including oil, gas, telecom, and retail, and whose personal net worth is estimated at $103.8 billion.