Mukesh Ambani named world’s joint 9th richest
Reliance Industries Ltd (RIL) chief Mukesh Ambani ...
Reliance Industries Ltd (RIL) chief Mukesh Ambani is the ninth richest person in the world along with Steve Ballmer of Microsoft and Larry Page of Google, each having a net worth of $67 billion, according to the Hurun Global Rich List 2020.
Ambani, 62, maintained a place in the top 10 for the second time after a $13 billion or 24 per cent surge in his wealth to $67 billion. “The only Asian in the Top 10, Ambani’s wealth increased mainly on the back of a good performance in his telecom business,” the Hurun Rich List said. Ambani is restructuring Reliance Industries to facilitate the planned strategic investments in group businesses—Reliance Jio, Reliance Retail, refining and petrochemicals. The conglomerate aims to be a zero net debt company in 18 months and is in discussion to sell 20 per cent oil-to-chemicals business to Saudi Aramco, at an enterprise value of $75 billion. RIL became the first Indian company to hit the milestone of achieving Rs 10 lakh crore market capitalisation.