Amazon's Jeff Bezos' personal net worth is as big as RIL — and twice as much as Mukesh Ambani

• Mukesh Ambani saw a 24% increase in wealth and earns ₹7 crore (almost a million dollars) every hour.
  
• However, that’s a ninth of what Amazon founder Jeff Bezos earns per hour.
  
• Jeff Bezos, who’ worth $140 billion, earns $8.9 million in an hour.
  
• Whereas, Bernard Arnault, the richest person in Europe and second richest person in the world makes $4,458,333 per hour.
  

As the clock chimes every hour, India’s richest man Mukesh Ambani makes ₹7 crore more. With this per-hour rate of earning, his coffers swelled by 24% last year leaving him with a networth of $67 billion (close to ₹48,000 crore).

As wonderful as that sounds, Ambani is only making one a ninth of what the world’s richest man, Jeff Bezoes earns.

Amazon founder Jeff Bezos, who’s worth $140 billion, earns $8.9 million (about ₹63 crore) an hour. While Ambani is personally far away from itching close to Bezos, his company Reliance Industries hit ₹10 lakh crore in market cap or around $140 billion, last year. Which means at a personal level, Bezos is worth as much as RIL.

However, Bezos who makes $2,489 a second, as per Business Insider’s estimates, has a business that is thriving at a global level. Amazon’s market cap is much higher at $991.6 billion (close to ₹69 lakh crore).

According to the ninth edition of Hurun Global Rich List 2020, Mukesh Ambani, the chairperson of Reliance Industries added $13 billion to his wealth in 2019 — thanks to Jio which is now making $2 billion a quarter. He is the ninth richest person in the world and the only Asian in the Top 10.

The other Indians who succeeded Ambanis in wealth are SP Hinduja family at $27 billion; Gautam Adani at $17 billion; Shiv Nadar and family at around $17 billion; and Lakshmi Mittal with $15 billion, as per Hurun list.

Jio: A big win
The secret behind Ambani’s increase in wealth is the success of his telecom and retail ventures. Reliance Jio’s revenue increased by 28.2% to ₹16,517 crore ($2.3 billion) in the third quarter ending December. Its margins, too, improved from 18.3% to 22% after the recent tariff hikes across its 370 million users.

However, Ambani has been bringing in investments across businesses be it refining or telecom, and moving towards making his empire light on debt. “Ambani is restructuring Reliance Industries to facilitate the planned strategic investments in group businesses - Reliance Jio, Reliance Retail, refining and petrochemicals,” reported Hurun Research.

See also:
Four reasons why Mukesh Ambani’s Reliance Industries is now worth ₹10 lakh crore
Three-year-old Jio is now making $2 billion in 3 months ⁠— and it is weeding out the low-spenders and making data addicts pay more