Mukesh Ambani becomes first Indian to enter top 10 of Hurun Global Rich List

Agencies
February 27, 2019

Reliance Industries Chairman and Managing Director Mukesh Ambani has become the first Indian to enter the global top 10 richest billionaire list compiled by Hurun Research.

According to the Hurun Global Rich List 2019 released on Tuesday, Ambani broke into the top 10 in the world for the first time after a $9 billion or20 per cent surge in his wealth to $54 billion.

"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 last year," Hurun Research said in a statement.

"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."

As per the statement, the company expanded its investment in the entertainment sector with acquisitions worth $700 million in Hathway and Den.

"In December, Ambani made world headlines with the high-profile wedding of his daughter Isha, 27, and topped the Hurun India Philanthropy List 2018.

According to the Hurun Global Rich List 2019, India has 104 billionaires. Last year, the country had added 32 billionaires, but this year it lost 28.

"India drops to 5th spot with 104 billionaires, 28 less than last year. With $54 billion, Mukesh Ambani, 61, of Reliance is the richest person in India," the report said.

"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.

"The average age was 62, 2 less than the average of the total list. Total wealth is $347 billion. Indian billionaires lost one-fourth of their wealth amounting to $107 billion; 28 lost their billionaire status owing to 10 per cent depreciation of the rupee and below average performance of the capital market," Hurun Research said.

Amazon founder Jeff Bezos tops the list for the second time with a net worth of $147 billion, followed by Microsoft founder Bill Gates with a wealth of $96 billion. With a net worth of $88 billion, Warren Buffet, chairman of Berkshire Hathaway is at the third slot followed by LVMH's Bernard Arnault.

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Agencies
May 4,2020

Mumbai, May 4: Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees. Silver Lake on Monday agreed to pay Rs 5,655.75 crore to buy 1.15 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio.

The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 per cent stake in Jio Platforms. The investment is at a premium of 12.5 per cent to the Facebook deal.

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

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News Network
May 21,2020

New Delhi, May 21: The Airports Authority of India (AAI) issued a standard operating procedure (SOP) to airport operators on Wednesday for recommencement of domestic flights from May 25 onwards, saying Aarogya Setu app is not mandatory for children below 14 years of age.

"Passengers shall compulsorily walk through screening zone for thermal screening at a designated place in the city side before entering the terminal building," the AAI said in its SOP, which has been accessed by news agency.

Airport operators must make appropriate arrangements for sanitisation of a passenger's baggage before his or her entry into the terminal building, said the SOP dated May 20.

The AAI manages more than 100 airports across the country. However, major airports like Delhi, Mumbai, Bengaluru and Hyderabad are managed by private companies. 

Civil Aviation Minister had announced on Wednesday that domestic flight services would resume from May 25 onwards in a calibrated manner.

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News Network
March 31,2020

Thiruvananthapuram, Mar 31: Kerala Chief

Minister Pinarayi Vijayan on Tuesday said the government has collected the details of those who took part from the state in recent religious congregations in Nizamuddin and Malaysia and it needs to be examined if they have any health issues.

"Police have already made detailed examination in this regard. Thelist of participants have been given through respectivedistrictcollectors. Necessary precautions will be made in the concerned districts in this regard," Vijayan told reporters here.

The government has the exact number of participants and thedetails of the districts they are hailing from, he said.

Meanwhile, Pathananthitta police said they have identified 6 persons in the district in connection with the Nizamuddin congregation.

"Three persons had taken part in the congregation, of them one hadalready died. One person is in quarantine in the district while theother is located now in Thiruvananrhapuram," a senior police officialtold PTI.

The others are not participants but had travelled to Delhi along with them, he said.

In the nearby Alappuzha district, three persons have been identified in connection with the congregation, police said.

"They have been in quarantine and under the surveillance of thehealth department since they have reached back the state from Delhi," another official said.

Several people, who had attended the religious congregation at Nizamuddin in the national capital are suspected to be having symptoms of Covid19, even as at least 24 have tested positive.

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