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<ul><li>The fortune of India’s richest man has swelled to $74.7 billion. </li><li><keyword id="10924" type="PERSON" weightage="20" keywordseo="Ambani">Ambani</keyword> is wealthier than several American business tycoons including Warren Buffett, Larry Ellison and Elon Musk, according to Forbes. </li><li>Just today, he has added $2.9 billion to his net worth. </li><li>Shares of Ambani led-Reliance Industries (RIL) surged to a new high on July 22, as they crossed the ₹2,000-mark for the first time </li></ul>There’s no stopping the money rush! Indian businessman Mukesh Ambani<a href="https://www.forbes.com/real-time-billionaires/#2e1acf463d78"> has become the fifth richest person </a>in the world with a fortune of $74.7 billion in his coffers. He is wealthier than American business tycoons including Warren Buffett, Larry Ellison and Elon Musk, according to Forbes. The recent rally in Reliance’s share price has added to Ambani’s wealth. Just today, he has added $2.9 billion to his net worth. Shares of Ambani led-Reliance Industries (RIL)<a href="https://www.cnbctv18.com/market/stocks/reliance-industries-shares-hit-rs-2000-mark-up-130-from-march-lows-6410811.htm"> surged to a new high on July 22, as they crossed the ₹2,000-mark for the first time</a>. RIL shares touched an all-time high of Rs 2,010 per share. In the past three months, RIL's stock price has grown around 48%. <div type="image" title="RIL Share Price" msid="77105958" hostid="261"></div> A week ago, Mukesh Ambani was on his course to become the fifth richest man but he <a href="https://www.businessinsider.in/business/news/mukesh-ambani-loses-over-2-billion-and-drops-down-four-places-in-the-billionaires-list-thats-how-important-the-ril-aramco-deal-is/articleshow/76992950.cms">lost about $2 billion dollars in a single day</a> after Reliance’s share fell by over 6% following an annual general meeting. <div type="Article" hostid="261" msid="76992941" title="JioPhone is Google and Ambani's second go at launching a smartphone — this time with help from Qualcomm" mstype="2" mssubtype="0"></div> Top 10 richest people in the world, as of July 22, according to Forbes <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jeff Bezos </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$185.8 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bill Gates </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$113.1 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bernard Arnault and family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$112 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mark Zuckerberg </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$89 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$74.7 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Warren Buffet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$72.7 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larry Ellison </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$72.7 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elon Musk </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$71.6 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Steve Ballmer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$71.4 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larry Page </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$69.4 Billion </td></tr></tbody></table> The reason behind this sudden surge in Ambani’s wealth since April is because his three-year-old telecom arm <a href="https://www.businessinsider.in/business/news/akash-ambani-was-the-one-to-choose-facebook-the-next-big-investments-for-reliance-jio-and-the-ideas-sold-to-investors/articleshow/76316650.cms">Reliance Jio has raised more than $20 billion in the last four months </a>from <a href="https://www.businessinsider.in/tech/news/google-may-put-4-billion-into-indias-reliance-jio-months-after-facebook-invested-5-7-billion/articleshow/76957941.cms">Google</a>, Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, Saudi PIF (Public Investment Fund) and more. READ ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-jio-compared-to-alibaba-and-tencent/articleshow/77059624.cms">If Alibaba and Tencent are rolled into one, it may look a lot like Mukesh Ambani’s Reliance Jio ⁠— only much smaller for now</a> Jio is <a href="https://www.businessinsider.in/tech/mobile/news/jio-google-qualcomm-deal-for-new-4g-smartphone-jiophone/articleshow/76992941.cms">now planning to work on a new smartphone</a> for the Indian market. Backed by the likes of Qualcomm and Google, Jio’s smartphone may emerge as a serious threat to the Chinese peers like Xiaomi, Vivo and Oppo who dominate India’s smartphone market. In the last decade, Ambani <a href="https://www.businessinsider.in/thelife/personalities/news/mukesh-ambani-is-now-richer-than-elon-musk-and-google-founders-larry-page-and-sergey-brin/articleshow/76955217.cms">has doubled his wealth and in 2020</a>, as India’s richest are losing money, Ambani is gaining more. According to Bloomberg, Ambani is slowly shifting his focus from energy to e-commerce. The next wave of growth and value for Ambani and Reliance’s shareholders i<a href="https://www.businessinsider.in/business/news/mukesh-ambani-next-goal-seems-to-be-the-retail-king-of-india/articleshow/76953716.cms">s likely from the retail vertical.</a> Reliance Retail is already the country’s largest chain and is now likely to get even bigger, as Asia’s richest man focuses on becoming India’s retail king. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/9-mind-blowing-facts-that-show-just-how-wealthy-mukesh-ambani-the-richest-person-in-asia-really-is/articleshow/73671508.cms">9 mind-blowing facts that show just how wealthy Mukesh Ambani, the richest person in Asia, really is</a> <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and AstraZeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/careers/news/from-intel-and-wipro-to-tcs-and-google-here-are-the-top-job-openings-in-the-multinational-companies/articleshow/77058769.cms">From Intel and Wipro to TCS and Google— Here are the top job openings in the multinational companies</a>

Mukesh Ambani is now the fifth richest person in the world, according to Forbes

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

<div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Amit DaveMukesh Ambani is the richest man in India for the 12th year in a row.</div></div></div><ul class="summary-list"><li>Forbes released its 2019 ranking of <a href="https://www.forbes.com/india-billionaires/list/#tab:overall">India's 100 Richest People.</a></li><li><a href="https://www.forbes.com/india-billionaires/list/#tab:overall">Mukesh Ambani, with a net worth of $51.4 billion</a>, topped the list for the 12th year in a row.</li><li>The list also includes infrastructure tycoon Gautam Adani and steel baron Lakshmi Mittal.</li><li>The 15 richest people in India are worth a combined $215 billion.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Forbes released its 2019 ranking of <a href="https://www.forbes.com/india-billionaires/list/#tab:overall">India's 100 Richest People.</a>For the 12th year in a row, Mukesh Ambani, the head of oil-gas-telecom conglomerate Reliance Industries, topped the list with an estimated net worth of $51.4 billion.Despite a slowdown of economic growth that caused more than half of India's 100 richest people to lose money, Ambani has only gotten richer, adding $4.1 billion to his fortune in the past year.Read more: <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani is India's richest man for the 12th year in a row. Meet the Ambanis, Asia's wealthiest family, who live in a $1 billion skyscraper and mingle with royals and Bollywood stars.</a>India's richest 15 people, which include Ambani, pharmaceuticals billionaires, and infrastructure tycoons, are worth a combined $215 billion.Here are the 15 richest people in India right now, ranked.

The 15 richest people in India, ranked

<ul><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s $72 billion net worth has made him the sixth richest person in the world. </li><li>He is now richer than Tesla founder <keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword> ($68.6 billion) and Google founders <keyword id="100155" type="PERSON" weightage="20" keywordseo="Larry-Page">Larry Page</keyword> and <keyword id="100154" type="PERSON" weightage="20" keywordseo="Sergey-Brin">Sergey Brin</keyword>. </li><li>Just four days ago, Ambani — who runs oil-to-telecom conglomerate Reliance Industries — had crossed stock legend Warren Buffet in the billionaires list. </li></ul>Mukesh Ambani is richer than ever. Indian tycoon Mukesh Ambani has become the sixth richest person in the world with his $72.4 billion fortun, beating Tesla founder Elon Musk ($68.6 billion) and Google founders Larry Page and Sergey Brin, <a href="https://www.bloomberg.com/news/articles/2020-07-14/ambani-s-wealth-beats-tech-giants-elon-musk-and-google-founders">reported Bloomberg.</a> Just four days ago, Ambani — who runs oil-to-telecom conglomerate Reliance Industries — <a href="https://www.businessinsider.in/business/news/mukesh-ambani-beats-warren-buffet-on-the-list-of-billionaires/articleshow/76896889.cms">became richer than stock legend Warren Buffet</a> after Reliance’s stock rallied in the market. Since then, Ambani has added $4.1 billion more to his wealth. Reliance share price has jumped by 25.8% since January — with analysts expecting a lot more gains in the near future. <div type="image" title="Mukesh Ambani net worth" msid="76955257" hostid="261"></div> The sudden surge in Ambani’s wealth since April is because his three-year-old telecom arm Reliance Jio <a href="https://www.businessinsider.in/business/news/mukesh-ambani-jio-fiber-and-reliance-invit-set-to-raise-over-1-billion-from-abu-dhabi-and-saudi-sovereign-funds-for/articleshow/76888352.cms">has raised more than $15.6 billion in the last four month</a>s from Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, Saudi PIF (Public Investment Fund) and more. Ambani is said to be in<a href="https://www.businessinsider.in/business/news/akash-ambani-was-the-one-to-choose-facebook-the-next-big-investments-for-reliance-jio-and-the-ideas-sold-to-investors/articleshow/76316650.cms"> talks with Google for a $4 billion investment in Jio.</a> He also <a href="https://www.businessinsider.in/business/news/reliance-is-net-debt-free-after-rs-1-69-lakh-cr-fund-raising-mukesh-ambani/articleshow/76456786.cms">declared that the $100 billion Reliance Industries is now net debt-free</a> a lot earlier than the target of March 2021. In the last decade, Ambani has doubled his wealth and in 2020, as India’s richest are losing money, Ambani is gaining more. According to Bloomberg, Ambani is slowly shifting his focus from energy to e-commerce. The next wave of growth and value for Ambani and Reliance’s shareholders is likely from the retail vertical. Reliance Retail is already the country’s largest chain and is now likely to get even bigger, as Asia’s richest man focuses on <a href="https://www.businessinsider.in/business/news/mukesh-ambani-next-goal-seems-to-be-the-retail-king-of-india/articleshow/76953716.cms">becoming India’s retail king</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-jio-fiber-and-reliance-invit-set-to-raise-over-1-billion-from-abu-dhabi-and-saudi-sovereign-funds-for/articleshow/76888352.cms">Mukesh Ambani is not done – Jio Fiber to get over $1 billion as Abu Dhabi and Saudi sovereign funds are set to invest in Reliance InvIT</a> <a href="https://www.businessinsider.in/thelife/news/9-mind-blowing-facts-that-show-just-how-wealthy-mukesh-ambani-the-richest-person-in-asia-really-is/articleshow/73671508.cms">9 mind-blowing facts that show just how wealthy Mukesh Ambani, the richest person in Asia, really is</a>

Mukesh Ambani’s $72 billion fortune makes him richer than Elon Musk and Google’s Larry Page and Sergey Brin

Reuters/Amit Dave <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> gets approximately $31,202 richer every minute. <ul class="summary-list"><li>Indian businessman Mukesh Ambani is <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">worth about $60 billion</a>, making him the richest person in India and all of Asia.</li><li>Forbes ranked <a href="https://www.forbes.com/sites/gracechung/2017/11/14/asia-richest-billionaire-families-2017-ambani-lee-kwok/#40d2fec62655">the Ambanis the richest family in Asia</a> in 2017.</li><li>Ambani, the chairman and largest shareholder of oil-to-telecom conglomerate Reliance Industries, is almost four times richer than <a href="https://www.forbes.com/profile/shiv-nadar/?list=rtb/">the second-richest person in India</a>.</li><li>Ambani and his family live in <a href="https://www.businessinsider.com/most-expensive-home-in-the-world-2014-5">a 27-story skyscraper in Mumbai</a> that cost an estimated $1 billion to build, which would make it one of the most expensive homes anywhere in the world.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Mukesh Ambani has been <a href="https://www.businessinsider.com/wealthy-indians-losing-money-mukesh-ambani-getting-richer-2019-10">India's richest person for 12 years</a> in a row. He's also the richest person in all of Asia, according to both Forbes and Bloomberg. The Indian businessman, the chairman and majority shareholder of <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">$100 billion conglomerate Reliance Industries</a>, is <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">worth about $60 billion</a>, making him the 14th-richest person in the world. Ambani's wealth has more than doubled in the past 10 years, and he continued to grow richer in 2019 even as most of India's richest people lost money. Here are nine mind-blowing facts that show just how wealthy Asia's richest man really is.

9 mind-blowing facts that show just how wealthy Mukesh Ambani, the richest person in Asia, really is

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Indranil Aditya/NurPhoto via Getty ImagesJio, the telecom company that belongs to India's richest man, has quickly become one of the country's biggest mobile carriers.</div></div></div><ul class="summary-list"><li>Forbes released its 2019 ranking of <a href="https://www.forbes.com/india-billionaires/list/#tab:overall">India's 100 Richest People.</a></li><li><a href="https://www.forbes.com/sites/naazneenkarmali/2019/10/10/indias-richest-2019-fortune-favors-a-few-as-growth-slows/#6e4539cc6567">More than half of the country's richest people lost money</a> in 2019 as economic growth slowed.</li><li>India's richest man, on the other hand, <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani,</a> added $4.1 billion to his fortune.</li><li>The 62-year-old chairman of oil-gas-telecom conglomerate Reliance Industries is <a href="https://www.forbes.com/profile/mukesh-ambani/?list=india-billionaires#5eb70d41214c">worth an estimated $52.7 billion.</a></li><li>The automobile and consumer goods industries suffered, but Ambani's wealth has grown this past year largely thanks to his three-year-old telecom company, Jio, which now has 340 million subscribers, according to Forbes.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>India's economic growth has slowed, and the country's richest people haven't been spared the effects. Forbes released its 2019 ranking of <a href="https://www.forbes.com/india-billionaires/list/#tab:overall">India's 100 Richest People,</a> and it showed that <a href="https://www.forbes.com/sites/naazneenkarmali/2019/10/10/indias-richest-2019-fortune-favors-a-few-as-growth-slows/#6e4539cc6567">more than half of India's richest people lost money in 2019.</a>"Under the Narendra Modi-led government, which returned to power for a second term with a thumping majority in May, economic growth slowed to 5%, a six-year low," Naazneen Karmali wrote for Forbes.According to Karmali, the automobile and consumer goods industries were hit particularly hard, with layoffs and production cuts. Fourteen of India's richest lost at least $1 billion, and nine of last year's richest didn't make this year's list. The country's richest man, however, got even richer despite the economic turmoil. Mukesh Ambani, who runs the oil-gas-telecom conglomerate Reliance Industries, added $4.1 billion to his net worth.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters/Amit DaveMukesh Ambani is the head of Reliance Industries, one of India's most valuable companies.</div></div></div>The 62-year-old is now <a href="https://www.forbes.com/profile/mukesh-ambani/?list=india-billionaires#3f0d2f2b214c">worth an estimated $52.7 billion</a>, making him the <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">15th-richest person in the world.</a> Ambani has now been India's richest man for 12 years in a row. The Ambani family is known for <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">living in a lavish, 27-story skyscraper in Mumbai</a> that cost an estimated $1 billion to build. The weddings of two of Ambani's children, in December 2018 and March 2019, were attended by the likes of Google CEO Sundar Pichai, Hillary Clinton, actress Priyanka Chopra, and Bollywood star Shah Rukh Khan.Read more: <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani is India's richest man for the 12th year in a row. Meet the Ambanis, Asia's wealthiest family, who live in a $1 billion skyscraper and mingle with royals and Bollywood stars.</a>The next-richest Indian, <a href="https://www.forbes.com/profile/gautam-adani/?list=india-billionaires#396ba11b1608">Gautam Adani, is worth an estimated $15.7 billion.</a> That may be a whopping $37 billion less than Ambani, but Adani rose eight spots in the past year to become the second-richest man in India. The infrastructure and coal mining billionaire got approval in 2019 to start work on a coal mine in Australia after waiting nine years, according to Forbes. Adani also controls India's largest port, Mundra Port.While most Indian billionaires - with exceptions such as Ambani and Adani - lost money in the past year, <a href="https://www.businessinsider.com/french-billionaires-money-luxury-goods-demand-china-arnault-pinault-2019-7">billionaires in France made more money than their counterparts</a> anywhere else in the world, as Taylor Nicole Rogers reported for Business Insider.The personal fortunes of French billionaires <a href="https://www.bloomberg.com/news/articles/2019-07-01/france-s-richest-people-get-richer-faster-than-everyone-else">grew more than twice as fast</a> as those of American and Chinese billionaires in the first half of 2019, Bloomberg's Alexander Sazonov reported in July, mainly thanks to China's growing desire for luxury goods. Take <a href="https://www.businessinsider.com/who-is-bernard-arnault-richest-person-in-europe-lvmh-life-photos-2019-1">Bernard Arnault, France's richest person</a> and the third-richest in the world, who runs LVMH, the world's largest maker of luxury goods. Last week, Arnault made $5.1 billion in less than 48 hours - and <a href="https://www.businessinsider.com/lvmh-ceo-bernard-arnault-massive-fortune-growing-billionaire-2019-7#3-arnault-is-officially-one-of-only-six-people-to-ever-rank-no-2-on-forbes-list-of-the-richest-billionaires-3">he's now made more money in 2019</a> than any other person listed in the Bloomberg Billionaires Index. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-is-impeachment-process-president-congress-constitution-2017-2">Columbia Law School professor explains exactly how impeachment works, and what it takes for a president to be impeached</a></h3> <div> </div> </div>

More than half of India's 100 richest people lost money in the past year, but the country's richest man got $4 billion richer.

Riding on the back of PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s demonetization move, RIL Chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> launched <keyword id="2003276" type="UNKNOWN" weightage="20" keywordseo="Jio">Jio</keyword> Money Merchant Solutions, which will enable digital transactions of all types, from mandis, kirana shops to restaurants. 
 While launching the <keyword id="6354504" type="UNKNOWN" weightage="20" keywordseo="Reliance-Jio">Reliance Jio</keyword> ‘Happy New Year’ offer, rolling out host of services and applications free of cost from Dec 4-March 31, 2017, Ambani said the merchants solution will empower the merchants to build a digital retail ecosystem. 
 Ambani said the digital transaction will help in economic growth and can bring transparency. “Digitally-enabling transactions will boost economic growth, while bringing unprecedented transparency and accountability,” he said, adding the present cash crunch issue can be conquered with <keyword id="3356344" type="UNKNOWN" weightage="20" keywordseo="JioMoney">JioMoney</keyword>. 
 
“Jio is working to empower Indian merchants by building a digital retail ecosystem, which we are calling JioMoney Merchant Solutions. This will enable digital transactions of all types, whether they be at Mandis, Small shops, Restaurants, Railway ticket counters, for Bus and mass transit and even for person-to-person money transfers,” Ambani said. 
 
Ambani lauded Modi’s demonetisation scheme, terming it as a bold move. “By doing this, our honorable Prime Minister has given the strongest push to growth of digitally-enabled, optimal-cash economy in India,” he said. 
 
While addressing the employees and stakeholders, Ambani unleashed another pricing and tariff war as he announced a ‘Happy New Year’ offer, rolling out free data, voice calls, wi-fi, etc till March 31, 2017. 
 
From December 04, 2016, every new Jio user will get Jio’s Data, Voice, Video and the full bouquet of Jio applications absolutely free till March 31, 2017. 
 
Read also: Breaking News: Mukesh Ambani rolls out ‘Happy New Year’ offer, unleashes unlimited data, voice calls till March 31 
 
 
(image: IndiaTimes)

Mukesh Ambani launches Jio Money Merchant Solutions, lauds Modi’s
demonetisation

<keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> was born in Aden and grew up in Mumbai. Today he is the richest person in India and one among the most influential and powerful personalities on the earth. While he has proved his business acumen and talents to the whole world, he has so many other notable things about his personality. Here are a few interesting facts about Mukesh Ambani that are awe inspiring. Simple beginnings When Mukesh Ambani was young, their family lived in a simple 2-bedroom apartment in Mumbai. This was before the company his father founded, took off. He was hardly given pocket money during his youth and always used to travel in public transport. Loved playing hockey During his school days, Mukesh had a keen love for the game of hockey. He in fact lost his interest in studies due to his preoccupation with the game. A strict vegetarian and teetotaler Mukesh has never consumed alcohol in his life. He is also a pure vegetarian by food habits. His favorite foods are chapatti, rice and dal. He does not mind eating anywhere even from a roadside stall as long as he gets access to tasty food. Discontinued his MBA Mukesh pursued his MBA programme from the Stanford University. He had to drop from the college as he was called back at home to support his father who was at the process of setting up a Polyester Filament Yarn Manufacturing Plant. His nick name and public speaking capabilities His nick name is Muku. By nature Mukesh Ambani is a shy person and gets nervous while he has to address the public. He is the owner of the largest refinery in the world Mukesh commissioned a refinery in Jamnagar in <keyword id="6354766" type="LOCATION" weightage="20" keywordseo="Gujarat">Gujarat</keyword>. The refinery has a capacity of processing 668000 barrels in a single day. It is the largest refinery in the world today. He accounts for 5% of the country’s GDP The taxes paid by his firm <keyword id="10926" type="DOMAIN" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries makes about 5% of the total tax revenues made by the country. Reliance Fresh consists of over 700 stores In 2006 Mukesh started a chain of stores called Reliance Fresh and the network consists of more than 700 stores across 93 cities of the country. Simple and loves watching movies Mukesh is simple in his nature and dressing. He always loves wearing a simple white shirt and black pants. He never follows any brand. He is a lover of films and watches about three movies in a week. His house is the most expensive one His house is today the most expensive residential property of the world. Antilla is located in South Mumbai. The value of this property is more than $1 billion. The house has 27 stories and supported by more than 600 staffs. He has his father’s photograph and his family photograph in every room of his property. He has a custom built car-bus vanity van He loves travelling in a customized car-bus vanity van that was ordered to be made for his taste. The worth of the van is around 25 crore in Indian money.

Interesting facts about Mukesh Ambani

<ul><li><keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> through its Softbank Vision Fund is reportedly looking to pump in $2-3 billion in <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Jio. </li><li>This move comes in as an attempt to deleverage the business as Jio has been grappling under debt while boosting its infrastructure.</li></ul>For India’s biggest startups – Paytm, Oyo, Policybazaar, among others – Softbank has almost always been a one-way ticket for the unicorn club. But SoftBank’s Chairman and CEO Masayoshi Son’s next bet may be the ‘startup’ from the country’s richest man. But does Mukesh Ambani really need Softbank’s money? Instead of betting on ‘internet’ entrepreneurs, Son may be looking to bet on the company that is at the centre of India’s digital revolution, <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>. India’s most talked about telecom network – Reliance Jio – is <a href="https://www.firstpost.com/business/softbank-may-invest-2-3-bn-in-reliance-jio-as-mukesh-ambani-looks-to-deleverage-business-6505361.html">reportedly</a> in talks with Japanese investment firm Softbank for an investment. The Economic Times report said that the Softbank Vision Fund may pump in $2-3 billion in Mukesh Ambani’s Jio. Then again, why does one of India’s most-valuable companies need such huge fund infusion? Jio reported a debt of ₹76,212 crore at the end of the March 2019 quarter. Much of it had piled up in making Jio the force it is today. 

 
 
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 However, Reliance’s telecom business needs more money to boost its infrastructure. So, with Softbank coming on board, it would be able to deal with a large amount of the current debt without compromising on the investment required to sustain the growth. “The debt in their balance sheet has been created for the purpose of building infrastructure for fibre and telecom towers. They would have the wisdom to deleverage the balance sheet and bring down their debt, capitalize the opportunity,” Deven Choksey, CEO &amp; MD, K.R. Choksey Shares &amp; Securities Private Ltd. told Business Insider. Choksey also believes that it’s a win-win for all – Softbank, Reliance and its shareholders. Softbank, which so far in India has been funding startups and has a stake in almost every other Indian unicorn, could look at Jio as a great investment to further establish a stronghold in India’s internet journey. “Jio is a complete solution provider by integrating various subscriptions – mobile, landline internet and cable TV – under one network. This is going to be the biggest driver of data in the country and they have the reach for that purpose. Certainly, the investment interest of any global banker or investor will be there. These kinds of prepositions aren’t easily available,” said Choksey. Choksey further added that Jio’s last quarter results show that an average user is consuming 11 GB data per month and this will go up after 5G, which makes it an opportune time for an investor to come in. See Also: <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-industries-and-saudi-arabias-aramco-in-deal-talks/articleshow/68933752.cms">Mukesh Ambani might net billions by selling a stake in his refinery business to the ‘world’s most profitable company’</a> <a href="https://www.businessinsider.in/15-deals-have-given-mukesh-ambanis-8-5-trillion-reliance-industries-a-distinct-makeover/articleshow/68422829.cms">15 deals have given Mukesh Ambani’s ₹8.5 trillion Reliance Industries a distinct makeover</a>

Does Mukesh Ambani need Softbank's money to give Reliance Jio a greater flight?

<h1 style="margin-top: 0px; margin-bottom: 1rem; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; font-size: 2.85714rem; line-height: 3.42857rem; font-family: Montserrat, sans-serif; vertical-align: baseline; color: rgb(0, 0, 0);"> </h1>With nearly US$50 billion, the Ambani family is the richest in Asia – and they never hesitate to show off their wealth. From gorgeous homes to impressive charitable contributions, the Ambanis make the most of their fortune. Here’s how they spend their money. Antilia Antilia, the residence of Reliance Industries chairman and managing director, Mukesh Ambani’s family, is decorated during his daughter <keyword id="617730" type="PERSON" weightage="20" keywordseo="Isha-Ambani">Isha Ambani</keyword>’s wedding, in <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword> in December 2018. Photo: Reuters The Ambanis have multiple homes but the crown jewel of their real estate holdings is Antilia, the 27-story skyscraper in Mumbai that allegedly cost US$1 billion to build. The home features 600 full-time staff, three helipads, a garden that spans three floors, swimming pools and gorgeous ballrooms – and it’s said to be the second most expensive property in the world (behind only Buckingham Palace). Cars Mukesh Ambani. Photo: Reuters Mukesh Ambani has used his massive wealth over the years to amass a fleet of luxury cars. The cars in his collection include a Mercedes Maybach 660 Guard, BMW 760 Li, Bentley Continental Flying Spur and a Rolls-Royce Phantom. Several of them are among the most expensive on the market. They also feature bulletproof coating to ensure that the family stays safe wherever their travels take them. Weddings A view of City Palace, one of the venues for the pre-wedding celebrations of Isha Ambani in Udaipur, in the Indian desert state of Rajasthan in December 2018. Photo: Reuters It’s been a celebratory couple of years for the Ambanis. In 2018, their eldest daughter Isha married Anand Piramal in a gorgeous ceremony. The wedding reputedly cost nearly US$100 million and featured stunning decorations, a private concert by Beyoncé and plenty of charter flights to fly in the Clintons, Nick Jonas and his wife Priyanka Chopra, and other celebrities. That doesn’t count the engagement party and pre-wedding ceremonies which the Ambanis hosted. Son Akash’s wedding a year later was apparently even more expensive. While a private concert from Beyoncé reportedly costs US$2 million, Akash’s wedding in Switzerland included performances by Maroon 5, Coldplay and The Chainsmokers. You do the maths. They also booked a luxury hotel for 500 guests. Parties Actress Priyanka Chopra and her husband, singer Nick Jonas, arrive for Isha Ambani’s wedding in Mumbai in December 2018. Photo: Reuters Weddings aren’t the only cause for celebration for the Ambani family. They also like to throw massive parties at Antilia to celebrate personal or professional victories. They hosted get-togethers for the Mumbai Indians cricket side at Antilia after their recent Indian Premier League (IPL) titles. Sports Mumbai Indians players and support staff and team owner <keyword id="7024" type="PERSON" weightage="20" keywordseo="Nita-Ambani">Nita Ambani</keyword> (right, in a white shirt) celebrate becoming the first team to win three IPL titles with a thrilling one-run victory over Rising Pune Supergiant in Hyderabad in May 2017. Photo: AFP The Ambanis love sport – particularly cricket. In 2008, they bought the Mumbai Indians for US$111.9 million, the largest sale of an IPL team at the time. They’ve rarely spared any expense in signing star players on expensive contracts, and these contracts have paid off with titles in 2013, 2015, 2017 and 2019. Charity Isha Ambani serves food to guests during an Anna Seva ritual that coincided with pre-wedding functions ahead of her marriage to Anand Piramal. Photo: AFP It has been said that Mukesh Ambani is India’s most charitable individual. Ambani reportedly gave over US$60 million in 2018, with most of that going to education, health care and rural development. These donations are organised through the Reliance Foundation, Reliance Industries’ charitable arm that was founded in 2010. While the Ambanis have a taste for luxury, it’s encouraging to know that they still find ways to give back and use their wealth for the good of the world. As Mukesh and Nita’s three children grow up and take on more influence in the family business, we’ll be watching to see how their spending habits evolve, too.

How does Mukesh Ambani – India’s richest man – and his family spend their US$50 billion fortune?

<ul><li>This is the second instance of <keyword id="10924" type="General" weightage="100" keywordseo="ambani" source="Orion">Ambani</keyword> family getting threats on the hospital landline number.</li><li><keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> currently has a Z-Plus security cover, provided by the Central government.</li><li>In 2013, a letter sent in the name of terror outfit Indian <keyword id="1336187" type="General" weightage="50" keywordseo="mujahidin" source="Orion">Mujahidin</keyword> was delivered to Ambani's Maker Chambers office. </li></ul> Calls received by a hospital run by the Reliance Foundation threatening to kill Mukesh Ambani and his family members were the latest of the threats received by the billionaire industrialist. Mumbai Police on Thursday arrested Rakesh Kumar Mishra (30) from Darbhanga in Bihar for allegedly making calls to Sir H N Reliance Foundation Hospital here in the last two days, threatening to blow up the hospital and kill Ambani, his wife Nita and sons Akash and Anant. The caller had also threatened to blow up Antilia, the famous south Mumbai residence of the Ambani family on Altamount Road in South Mumbai . According of the city police, this is the second instance of Ambani family getting threats on the hospital landline number. On August 15 this year, the hospital had received at least nine calls threatening the Reliance Industries chairman and his family members, said an official. <keyword id="15181308" type="General" weightage="50" keywordseo="bishnu-vidu-bhoumik" source="Orion">Bishnu Vidu Bhoumik</keyword> (56) was arrested in connection with the calls. In November 2021, Mumbai Police increased the security outside Antilia following a tip given by a taxi driver about a possible threat, but investigation found there was no such threat. But an incident involving threat to the Ambani family earlier that year made national headlines and shook the state government. On February 25, 2021, an explosive-laden SUV was found parked on Carmichael Road in South Mumbai, near the Ambani residence. Police recovered a printed threat note inside along with gelatin sticks. The note this was only a "trailer" and there would be assembled explosives next time instead of just loose sticks. <keyword id="10875173" type="General" weightage="50" keywordseo="mansukh-hiran" source="Orion">Mansukh Hiran</keyword>, a Thane-based businessman, told police the SUV had been stolen from his possession. But the matter took a grim turn when Hiran was found dead in a creek in Thane a few days later, and an Assistant Inspector of Mumbai crime branch, <keyword id="1006310" type="General" weightage="50" keywordseo="sachin-waze" source="Orion">Sachin Waze</keyword> was arrested for alleged involvement in parking the SUV near Antilia and also for Hiran's murder. The affair also led to Mumbai Police Commissioner <keyword id="8848108" type="General" weightage="50" keywordseo="param-bir" source="Orion">Param Bir</keyword> Singh being shunted out. An angry Singh then accused then home minister Anil Deshmukh of asking police to collect money from bars in Mumbai; Deshmukh subsequently resigned and the CBI registered a corruption case against him. Mukesh Ambani currently has a Z-Plus security cover, provided by the Central government. The Central Industrial Security Force provides security to his residence. In 2013, a letter sent in the name of terror outfit Indian Mujahidin was delivered to Ambani's Maker Chambers office in Nariman Point area. It threatened him for supporting then Gujarat Chief Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>. Mukesh Ambani's younger brother and industrialist Anil Ambani was in news for reason related to security in 2009 when pebbles were discovered in the fuel tank of his chopper. It was suspected that it was a sabotage attempt. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/world-bank-downgrades-indias-economic-growth-forecast-to-6-5-for-fy23/articleshow/94684137.cms">World Bank downgrades India's economic growth forecast to 6.5% for FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-rolls-out-5g-plus-in-8-cities-promises-20-30x-higher-speeds/articleshow/94679793.cms">Airtel rolls out 5G Plus in 8 cities, promises 20-30x higher speeds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sensex-gains-156-points-led-by-metal-it-and-capital-goods-amid-foreign-capital-inflows/articleshow/94684483.cms">Sensex gains 156 points led by metal, IT and capital goods amid foreign capital inflows</a>

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