Mukesh Ambani has successfully managed to maintain his position as the richest person in India for the 9th year in a row.
As per reports, he has a total wealth of Rs. 6,58,400 crore in his name.
Read on to find out all the details!
Mukesh Ambani Becomes Richest Man In India Again; Adds 90 Crore Per Hour
According to the IIFL Wealth Hurun India Rich List 2020, Mukesh Ambani, the owner of Reliance Industries Ltd. has maintained his position as the richest man in India for the 9th consecutive year, with a wealth of ?6,58,400 crore in his name.
As if that wasn’t enough, he has added Rs. 90 crores per hour ever since the lockdown began in March.
The report states, “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.”
Ambani’s wealth is more than that of the next five billionaires collectively on the list.
Share Prices Jump By 50%; Industry Estimates Surpassed; Ambani Fifth Richest Man In The World
The share pricing of Reliance Industries has increased in leaps and bounds by almost 50% since the start of this year.
As per the Bloomberg Billionaires Index, Ambani is the fifth richest man in the world as well.
Industry estimates have also been surpassed by the company in the quarterly results. Only in the first three months of the current financial year, Reliance Industries has noted a profit of Rs. 13,248 crores. Let’s not forget, this was a time during the lockdown that was imposed in India due to the Coronavirus disease.
During the lockdown, there were some big news from Reliance Industries – the company bought out the Future Group’s retail, Big Bazaar. Reliance has also acquired Urban Ladder, MilkBasket as a part of their ecommerce expansion.
There also is a possibility that the very popular PUBG videogame will make a comeback with the help of Jio, Reliance’s telecom provider.
Paytm Founder Vijay Shekhar Sharma Is Richest Startup Entrepreneur
If we talk about the startup founders, then Vijay Shekhar Sharma has emerged as the richest. With overall wealth of Rs 23,000 crore, he is ranked #44 in the list, followed by Byju’s founder who has wealth of Rs 20,400 crore.
You can find the full list here.