Mukesh Ambani has been earning Rs 90 crore every hour since the lockdown began - Newztezz Online


Wednesday, September 30, 2020

Mukesh Ambani has been earning Rs 90 crore every hour since the lockdown began

Mumbai: The country's richest man Mukesh Ambani has earned Rs 90 crore every hour since the lockdown took effect in late March. 
According to IIFL's Wealth Hurun India Rich List 2020, Ambani has become the richest person in the country for the ninth consecutive year, and his wealth has increased from Rs 2.77 lakh crore to Rs 6.58 lakh crore.

Silver Lake, an American private equity firm, has recently invested Rs 7,500 crore in Reliance Retail. The company, owned by Mukesh Ambani, has a valuation of Rs 4.21 lakh crore. By raising a whopping મા 20 billion, Ambani has never met the target of making Reliance debt-free. Moreover, since the arrival of Corona, the condition of most companies has deteriorated, while Ambani has managed to raise billions of rupees.

The 63-year-old Ambani is now gearing up to venture into technology and retail. They want to set up an e-commerce company in India like Alibaba in China. Big international companies wanting to invest in India are investing billions of rupees in Mukesh Ambani's venture because of his ability to get full representation in whatever business he is doing.

India is a country with billions of consumers. However, many global companies have not yet reached out to most Indians. China is also a big market, but it is difficult for a non-Chinese company to do business there. The list of IIFL includes the names of 828 people who have assets worth over Rs 1,000 crore. This number has tripled compared to five years ago.

Of the 828 people on the list, 627 billionaires have seen their fortunes rise, while 229 have fallen. In addition, 75 people had to be removed from the list. While six people from the list published in 2013 are no longer in this world. Of note, 90 percent of the 828 billionaires are involved in the family business.

Speaking of women with billions in assets, Smita Krishna is the richest woman on the list with a fortune of Rs 32,400 crore. It is followed by Kiran Mazumdar Shaw, head of Biocon, with Rs 31,600 crore. 21 out of 828 people are under 40 years of age, while 17 people have amassed wealth alone.

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