Business / Mukesh Ambani breaks into top 10 richest list globally with a networth of Rs 3.83 lakh crore

Reliance Industries chairman Mukesh Ambani has broken into the top 10 richest list globally with a networth of USD 54 billion, as per the Hurun Global Rich List 2019. The list is topped by Amazon chief Jeff Bezos for the second year in a row, while senior Ambani is placed 8th with a network of Rs 3.83 lakh crore. Ambani owns almost 52 percent in Reliance. Company expanded its investment on telecom, retail & energy.

“The only Asian in the Top 10, Ambani’s wealth is based on telecom, retail and energy, and bucked the poor stock market trend in India in the last year. Ambani’s flagship Reliance Jio Infocomm announced the launch of international roaming between India and Japan, a first for India’s 4G mobile operators to provide VoLTE-based international roaming services in India. The company expanded its investment in the Entertainment sector with acquisitions worth US$700mn in Hathway and Den,” Hurun wrote in its report.

The Hurun study also found that India dropped to 5th spot with 104 billionaires, 28 less than last year. "Pharmaceuticals, TMT and FMCG led the way, with 18, 15 and 10 billionaires each. Mumbai and New Delhi are the billionaire capitals of the country with 42 and 25 finding residence there," it said.