Sunil Mittal lost a billion dollars ahead of Ambani's Jio launch — and as much after that
- There was a time when Mittal was almost the undisputed king of the market.
- But he lost nearly a billion dollars a year after Jio launched. His net worth fell from $6.6 billion in 2015 to $5.7 billion in 2016.
- Mittal and Mukesh Ambani are in the news for their fierce rivalry over supremacy in the
There was a time when Sunil Mittal fell short of ₹5,000 in the 1980s but this roadblock didn’t stop him from creating India’s largest conglomerate.
He received more than $350 million in dividends in FY19, according to Bloomberg.
Mittal and Mukesh Ambani are in the news for their fierce rivalry over supremacy in the telecom market. But, there was a time when Mittal was almost the undisputed king of the market. Sunil Mittal lost nearly a billion dollar the year after Jio launched. His net worth fell from $6.6 billion in 2015 to $5.7 billion in 2016.
Surprisingly, he lost over 1.2 billion dollars between 2018 and 2019 primarily.
Here’s the rise and fall of Sunil Mittal:
Sunil Mittal, the founder of Bharti Airtel, is the 14th richest person in India
He founded a small bicycle-parts manufacturing business, Bharti, in 1976 when he was 18Advertisement
Soon, he became the poster boy of India’s telecom industry.
Mukesh Ambani led-Reliance Industries disrupted the Indian telecom industry yet again with JioAdvertisement
Both Airtel and Jio raged a war to capture a larger share of India’s billion dollar telecom market
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