Mukesh Ambani joins club of world’s 10 richest
NEW DELHI: Asia’s richest man has entered a new league of wealth. The net worth of Mukesh Ambani, chairman of Reliance Industries Ltd, has jumped to $64.5 billion, making him the only Asian tycoon in the exclusive club of the world’s top 10 richest people, according to the Bloomberg Billionaires Index.
Ambani overtook Larry Ellison of Oracle Corp and France’s Francoise Bettencourt Meyers, the wealthiest woman, to reach the No. 9 spot.
Ambani, who owns 42% of Reliance, has benefited from a flurry of investment into the company’s digital unit -- Jio Platforms Ltd -- that Reliance said has made it net-debt free ahead of a March 2021 target. The shares of the oil-to-telecom conglomerate have doubled from a low in March, just as other billionaires on the list have been hit by the impact of the coronavirus pandemic.
While the economy “has been nearly decimated” during the lockdown to control the spread of Covid-19, “Mr Ambani’s companies (particularly the telecom giant Jio) have prospered, and his personal wealth has increased substantially,” said Jayati Ghosh, chair of the Centre for Economic Studies and Planning at the Jawaharlal Nehru University.
A media representative for Reliance declined to comment on Ambani’s fortune.
The rise of the 63-year-old as the country heads for its worst-ever recession is a reminder of the nation’s deep economic divide, in which the top 10% hold more than three-quarters of the total wealth, and where most new fortune creation stays in the hands of the richest 1%.
Ambani lives in a 27-story mansion in Mumbai, known as Antilia, that has three rooftop helipads, parking for 168 cars, a 50-seat movie theater, a grand ballroom with crystal chandeliers, three floors of Babylon-inspired hanging gardens, a yoga studio, and a health spa and fitness center.
Does this news make any difference to Covid or the economy of the country.
Ambani knows how to make more wealth and make the country poor.
Dude... he is industrialist.. do you have any idea how many people are employed in India because of Reliance ? Poor like you always hate the rich people. if you are not capable of earning thn its not his falut.
He is generating wealth by creating new industries. Is that wrong?
say Thanks to Modiji.
Good for him. But, it doesn't help us poor people.
Wow, great !!!, If Indian economy will rise like this then India will be haven.
哇,太棒了! ! !如果印度经济也像他的财富一样增长，那印度将成为避风港。
Feku is collecting from poor and giving to his gujju friends making them rich
AMBANI BROTHERS GOT BLESSINGS OF FEKUCHAND MODI THAT IS WHY HIS WEALTH IS EXPANDING.
We need 150-200 Mukesh Ambanis-- which will help India..Not 1 Reliance but many more such Indian businesses..
great news for Indians, a true Indian to reach the glammy club. its a matter of pride for India, but a matter of jealousy for rahul gandhi
Very great achievement. Inspiration to many. May he reach No. 1 spot