Anil Ambani, the younger sibling of Mukesh Ambani saw his wealth more than halve from a year ago on falling shares of his companies. In a move into the defense sector, he acquired a controlling stake in Pipavav Defence, a private shipyard, and is reportedly investing $1 billion in an aerospace park to build helicopters. He sold his multiplex business to rival Carnival Cinemas and is reportedly looking to sell part of Reliance Communication's telecom towers to prune its $5.8 billion debt.