Mukesh Ambani richest Indian for 9th year in a row; added Rs 90 crore per hour to wealth in last 6 months
The 63-year old Reliance Industries chairman has amassed a total wealth of Rs 6,58,400 crore according to the IIFL Wealth Hurun India Rich List 2020
Mukesh Ambani, has maintained his position as the richest person in India for the 9th year running.
The 63-year old Reliance Industries chairman has amassed a total wealth of Rs 6,58,400 crore according to the IIFL Wealth Hurun India Rich List 2020. And not just that, according to the report, Ambani gained Rs 90 crore per hour since the lockdown in March, as per a newsreport carried by businessinsider.in.
In fact, Ambani’s wealth is more than the combined wealth of the next five billionaires on the list.
According to the Bloomberg Billionaires Index, Ambani is also the fifth richest person in the world.
Reliance has also been beating industry estimates in its quarterly results. In the first three months of the current financial year, RIL posted a profit of Rs 13,248 crore, despite a lockdown in India.
“At the beginning of the Covid-19 pandemic, Ambani’s wealth dropped by 28% to Rs 3,50,000 crore and then backed by a series of fundraising and strategic investment from Facebook, Google and so on into Jio and Reliance Retail, his valuation registered a ‘V-shaped recovery’ and increased by 85% in 4 months,” said the report.
Ambani has raised over $20.2 billion from the biggest investors for Jio Platforms since April. And now he is on a fundraising spree for Reliance Retail – having already raised over almost $2 billion from American PE giants – Silver Lake and KKR.
The Ambani family is also the richest family in Asia with a net worth of $88.3 billion.
Published: 29 Sep 2020, 8:09 PM