Mukesh Ambani added ₹90 crore per hour to his wealth in the last six months, says Hurun report

Sanchita DashSep 29, 2020, 13:55 IST

BCCL

Mukesh Ambani remains the richest person in India for the 9th year running.
The 63-year old Reliance Industries chairman has amassed a total wealth of ₹658,400 crore, according to the IIFL Wealth Hurun India Rich List 2020.
Reliance Industries share price has jumped by almost 50% since the beginning of the year.

The man of the hour (you can say, almost every hour since lockdown), 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 ₹6,58,400 crore according to the IIFL Wealth Hurun India Rich List 2020. And not just that, according to the report, Ambani gained ₹90 crore per hour since the lockdown in March.

In fact, Ambani’s wealth is more than the combined wealth of the next five billionaires on the list.

Screenshot of the IIFL Hurun India Rich List 2020

Ambani beat the COVID slowdown

BCCL

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 ₹13,248 crore, despite a lockdown in India.

“At the beginning of the Covid-19 pandemic, Ambani’s wealth dropped by 28% to ₹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.

According to the Bloomberg Billionaires Index, Ambani is also the fifth richest person in the world.

Reliance Industries' share price has jumped by almost 50% since the beginning of the year.

BI India/Flourish

Mukesh Ambani’s fundraising blitzkrieg for Jio and Reliance Retail

BI India/BCCL

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 Ambanis are also the richest family in Asia.

IANS

The Ambani family is also the richest family in Asia with a net worth of $88.3 billion.

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