• Home
  • Business
  • Personal Finance
  • Banking
    • Digital Payment
Wednesday, February 24, 2021
No Result
View All Result
NEWSLETTER
KM Capital
  • Home
  • Business
  • Personal Finance
  • Banking
    • Digital Payment
  • Home
  • Business
  • Personal Finance
  • Banking
    • Digital Payment
No Result
View All Result
KM Capital
No Result
View All Result
Home Business

Mukesh Ambani Becomes the World’s Fifth Richest Man

by Shrutika Lodhi
July 24, 2020
in Business
0
Mukesh Ambani

Mukesh Ambani

0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

In a recent report, Mukesh Ambani was recently called the 6th Richest Man in the world, ahead of Elon Musk and Larry Page.

As per the sources, Indian Businessman and Founder, and Chairman of Reliance Industries Mukesh Ambani has become the world’s fifth-richest person with a fortune of $74.7 billion. Presently,  according to Forbes Real-Time Billionaires List, he is wealthier than other famous business tycoons including Warren Buffett, Larry Ellison, and Elon Musk. Mukesh Ambani became World’s Fifth Richest, Just After Facebook Co-Founder and CEO, Mark Zuckerberg. The estimated Mr. Ambani’s wealth is at $75 billion that is Rs 5.61 lakh crore as per today’s dollar to rupee value.

The recent rally in Reliance’s share price have been a boost and added to Mr. Ambani’s wealth. He has added about almost $2.9 billion to his net worth. Shares surged to a new high on July 22, 2020, when they crossed the ₹2,000 marks. It was soon after that RIL shares touched an all-time high mark for the first time of Rs 2,010 per share. In the last three months, the RIL’s stock price has grown around 48%.

In the recent interview, Mr. Ambani stated saying Reliance Industries is now “in its golden decade”. He said this as his group became a net debt-free way ahead of its target of March 2021.

On his group reaching the milestone, he said, “I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,”

Reliance was originally founded by Mukesh Ambani’s late father Dhirubhai Ambani, in 1966 as a small textile manufacturer. It was soon after his father’s death in 2002 that both his sons, Mukesh Ambani and Anil Ambani divided up the family empire. In the year 2016, Reliance had sparked a price war in India’s telecom market with the launch of 4G phone service Jio. This brought tremendous change in the hyper-competitive telecom industry of the country. Jio since then has signed on more or less 340 million customers. This has been possible by offering free domestic voice calls, extremely cheap data services, and free smartphones.

Shrutika Lodhi

Shrutika Lodhi

Shrutika is a content writer and strategist who has been academically inclined towards Humanities and is an ardent reader with communication as her forte. She likes applying feminist ethics that redefine traditional narratives. Pursuing her degree in field Psychology, English, and Sociology she emphasizes the need to understand behavioral psychology and changing trends and norms of the world.

Next Post
Paytm starting Stock Broking Service, soon to be in your pocket!

Paytm starting Stock Broking Service, soon to be in your pocket!

Comments 0

  1. Pingback: Reliance: Stake acquired for Rs. 24,713 crore in Future Group - KM Capital
  2. Pingback: Reliance offering a $20 Billion stake in retail to Amazon - KM Capital

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Cipla expecting a strong earning in Quarter 2

Cipla expecting a strong earning in Quarter 2

4 months ago
tapsee-pannu-mithali-rajs-biopic

Tapsee Pannu Starts Training for Mithali Raj’s biopic

4 weeks ago

Popular News

    Connect with us

    Newsletter

    Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Aenean commodo ligula eget dolor.
    SUBSCRIBE

    Category

    • Banking
    • bollywood
    • bollywood
    • Business
    • Digital Payment
    • Economy
    • Entertainment
    • Movie
    • Personal Finance
    • Uncategorized
    • Web shows

    Site Links

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    About Us

    We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

    • About
    • Advertise
    • Careers
    • Contact

    © 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

    No Result
    View All Result
    • Home
    • Business
    • Personal Finance
    • Banking
      • Digital Payment

    © 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Login to your account below

    Forgotten Password?

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In