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The competition between <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> and <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> for the title of <keyword id="1919738" type="General" weightage="20" keywordseo="Indias-richest-person" source="Orion">India's richest person</keyword> has navigated a rollercoaster of fortunes. Their rivalry isn't merely a headline-grabbing feud, but a significant force shaping the Indian economic landscape. As of mid-August, Ambani remains the <keyword id="7413735" type="General" weightage="20" keywordseo="richest-person-in-India" source="Orion">richest person in India</keyword>. He is ranked 11th among the world's wealthiest individuals by Forbes, with a net worth of around $113 billion. On the other hand, Adani's net worth has fallen to approximately $84 billion, placing him 20th on Forbes’ real-time global list. Gautam Adani, chairman of the $32 billion (revenue) Adani Group, has witnessed a journey marked by dramatic ups and downs. In 2022, he soared to the rank of the world's second-richest individual before encountering a severe downturn. Allegations of corporate fraud by Hindenburg Research triggered a substantial sell-off in his company's stocks in 2023. Yet, Adani's determined recovery—focused on debt management and core business strengths—has paved the way for a remarkable rebound. By 2024, Adani group's shares also recovered substantially after India's Supreme Court ruled in the group's favour. Meanwhile, Mukesh Ambani—chairman and managing director at the $110 billion (revenue) Reliance Industries—has also experienced some fluctuations in his wealth and business activities this year. However, 2024 has been marked mainly by his personal milestones. The high-profile wedding of his younger son Anant Ambani with Radhika Merchant was attended by some of the most well-known celebrities and figures in the world, highlighting Ambani family's prominence in both business and social spheres. <cmsannotation type="cmsannotation" annotationid="Implications of Adani vs Ambani for the Indian economy" comment="subhead" text="Implications of Adani vs Ambani for the Indian economy">Implications of <keyword id="13480269" type="General" weightage="100" keywordseo="Adani-vs-Ambani" source="Orion">Adani vs Ambani</keyword> for the <keyword id="6356076" type="General" weightage="20" keywordseo="Indian-economy" source="Orion">Indian economy</keyword></cmsannotation> The ongoing competition between Ambani and Adani is not just a personal battle; it has broader implications for the Indian economy. Firstly, heightened competition between these business giants is likely to benefit consumers by driving improvements in pricing and services within sectors they both dominate, including telecommunications, retail and renewable energy. Additionally, as their enterprises grow, they are expected to generate a significant number of job opportunities across diverse fields. This competitive dynamic also fosters a climate of innovation, as both conglomerates invest heavily in emerging technologies and sustainable practices, thereby bolstering India's position as a leader in these areas. Both billionaires represent different paths to success, with Ambani's legacy-driven approach contrasting with Adani's entrepreneurial journey, underscoring the diverse opportunities within the Indian economy. The ongoing race between Mukesh Ambani and Gautam Adani epitomises the dynamic nature of wealth creation in India. With Adani currently in the lead, the competition promises to continue shaping economic trends and consumer experiences in the country.

Adani vs Ambani: Mukesh Ambani has overtaken Gautam Adani in race to become richest person in India

New Delhi: The merger of media assets of Reliance Industries and the India business of global media house the Walt Disney is expected to be complete by the end of the third quarter of this fiscal, according to a regulatory filing by billionaire Mukesh Ambani-led group. The fair trade regulator CCI has already approved the merger of Viacom 18 and <keyword id="19976122" type="General" weightage="20" keywordseo="Star-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Star India" meta.hostid="261" meta.entityid="Star India">Star India</keyword> and NCLT (National Company Law Tribunal) has sanctioned the scheme regarding it. "The companies are in the process of obtaining other requisite approvals for the completion of the transaction and transaction closer is expected in 3Q FY 25," informed Reliance Industries on Monday in its quarter earning statement. The merger of Reliance group-controlled media assets - TV18 Broadcast and E18 - with Network18 Media &amp; Investments has already been sanctioned by the NCLT and was made effective on October 3, it said. Earlier on September 27, the government approved the transfer of licenses relating to Non News &amp; Current Affairs TV channels held by media entities of Reliance Industries to Star India. "The Ministry of Information and Broadcasting, Government of India, vide its order dated September 27, has granted its approval for transfer of Licenses relating to Non News &amp; Current Affairs TV channels held by <keyword id="19976121" type="General" weightage="20" keywordseo="Viacom18" source="keywords" meta.keywordsubtype="org" meta.entityname="Viacom18" meta.hostid="261" meta.entityid="Viacom18">Viacom18</keyword> Media Private Limited in favour of Star India," it had said. Viacom18 is the holding company that owns the media and entertainment business of billionaire Mukesh Ambani-led Reliance Industries and Bodhi Tree Systems. Both sides are in the final stages of the merger, making some adjustments in the business as per the Competition Commission of India (CCI) directions. On August 30, the NCLT had approved the scheme of merger of Viacom18 Media and Digital 18 Media, holding media and entertainment assets of Reliance Industries with Star India. The scheme had proposed the transfer and vesting of Media Operations Undertaking from Viacom 18 and Jio Cinema into Digital18, which is a subsidiary of Viacom 18. This would be followed by "demerger, transfer and vesting of V18 Undertaking from Digital 18 into Star India". The merger of the media assets of Reliance Industries and The Walt Disney Co.'s India business will create the country's largest media empire worth over Rs 70,000 crore. Earlier, the CCI had said it has cleared the "proposed combination involving Reliance Industries Ltd, Viacom18 Media Pvt Ltd, Digital18 Media Ltd, Star India Pvt Ltd and Star Television Productions Ltd, subject to the compliance of voluntary modifications". Viacom18 is part of the RIL group, and Star India is wholly owned by The <keyword id="19986269" type="General" weightage="20" keywordseo="Walt-Disney-Company" source="keywords">Walt Disney Company</keyword>. Star Television Productions, a company incorporated in the British Virgin Islands, is owned indirectly by Walt Disney. The CCI, however, did not disclose voluntary modifications in the original deal made by the two parties. As per the deal, Mukesh Ambani-led RIL and its affiliates will hold 63.16 per cent of the combined entity that will house two streaming services and 120 television channels. Walt Disney will hold the remaining 36.84 per cent stake in the combined entity, which will also be India's largest media house. Reliance Industries has also agreed to invest close to Rs 11,500 crore into the joint venture to give it the muscle to fight rivals like Japan's Sony and Netflix. Nita Ambani, wife of billionaire and RIL Chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, will head the joint venture, while Uday Shankar will be the vice-chairperson.

Reliance expects to complete merger with Disney's India business in Q3

<keyword id="19903807" type="General" weightage="100" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>, the CEO of electric car maker Tesla and rocket manufacturer <keyword id="19905255" type="General" weightage="20" keywordseo="SpaceX" source="keywords" meta.keywordsubtype="org" meta.entityname="SpaceX" meta.hostid="261" meta.entityid="SpaceX">SpaceX</keyword>, may become the world's first <keyword id="20204152" type="General" weightage="20" keywordseo="trillionaire" source="keywords">trillionaire</keyword> by 2027, while Indian tycoon <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> may attain that status in the following year, and Asia's richest man <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> may do so in 2033, according to an Informa Connect Academy report. For Musk, the richest in the world with $237 billion net worth, to become the world's first trillionaire, his wealth needs to grow at an average annual growth rate of 110%, the report said. <keyword id="19898586" type="General" weightage="20" keywordseo="Adani" source="keywords">Adani</keyword>, who is ranked 13th on the world billionaire index with a wealth of just under $100 billion, maybe the second trillionaire (net worth equal to at least one trillion US dollars) if his ports-to-power conglomerate was to continue growing at the current 123% average annual rate, it added. Rival <keyword id="19898589" type="General" weightage="20" keywordseo="Ambani" source="keywords">Ambani</keyword>, now ranked Asia's richest with a net worth of $111 billion, may achieve the same status in 2033, according to the report. His oil-to-telecom-and-retail conglomerate is slated to hit trillion-dollar market cap status in 2035. Ambani's <keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> is the only Indian company projected to hit that mark. The companies that will hit the trillion-dollar market cap mark include Taiwan's semiconductor maker TSMC, which has a market cap of $893.7 billion now and is expected to achieve that status in 2025. It will be closely followed by Berkshire Hathaway, pharma giant Eli Lilly, technology company Broadcom and electric automobile firm Tesla. The report said, "No one in the world has claimed trillionaire status - at least not yet. However, there are some likely candidates. The following are multi-billionaires who will probably become trillionaires sooner or later". After Elon Musk and Gautam Adani, NVIDIA founder Jensen Huang, Indonesian mogul Prajogo Pangestu, French businessman Bernard Arnault, and Facebook CEO <keyword id="19952202" type="General" weightage="20" keywordseo="mark-zuckerberg" source="keywords">Mark Zuckerberg</keyword> come next as prospective trillionaires. Currently, there are only a handful of companies that have crossed the $1 trillion in valuation. This includes Microsoft, Nvidia, Apple, Alphabet, Amazon, Saudi Aramco, and Meta. The most recent case is that of <keyword id="19921921" type="General" weightage="20" keywordseo="warren-buffett" source="keywords">Warren Buffett</keyword>'s Berkshire Hathaway in late August. Nvidia also joined the $ 1 trillion club in May 2023 and reached $ 3 trillion in June, becoming the second most valuable company in the world, with Microsoft ahead and Apple behind.

Elon Musk may be world's first trillionaire by 2027, Adani to touch the mark by 2028, Ambani in 2033: Report

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has announced the Diwali Dhammaka offer ahead of the festive season.</li><li>The <keyword id="23214173" type="General" weightage="100" keywordseo="Diwali-Dhamaka" source="keywords">Diwali Dhamaka</keyword> offer provides a year of <keyword id="23217340" type="General" weightage="20" keywordseo="free-JioAirFiber" source="keywords">free JioAirFiber</keyword> to eligible customers.</li><li>Here’s everything you need to know about the Diwali Dhamaka offer from Reliance Jio.</li></ul>Mukesh Ambani-led Reliance Jio has announced its 'Diwali Double Dhamaka' offer, offering customers a year of free <a href="https://www.businessinsider.in/business/telecom/news/jioairfiber-launched-in-metros-plans-and-benefits-versus-the-airtel-xstream-airfiber/articleshow/103804858.cms">JioAirFiber</a> service. The festive promotion from the telco is available at all <keyword id="20206613" type="General" weightage="20" keywordseo="Reliance-Digital" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Digital" meta.hostid="261" meta.entityid="Reliance Digital">Reliance Digital</keyword> stores nationwide and is set to run from September 18 to November 3, 2024. <h2>How to avail the Diwali Dhamaka offer</h2>Customers who spend ₹20,000 or more at any Reliance Digital or MyJio store will qualify for one year of complimentary <keyword id="20579875" type="General" weightage="20" keywordseo="JioAirFiber" source="keywords">JioAirFiber</keyword>. The offer is applicable to both new and existing <keyword id="20282548" type="General" weightage="20" keywordseo="JioFiber" source="keywords">JioFiber</keyword> and JioAirFiber customers. <div type="Article" hostid="261" msid="103804858" title="JioAirFiber launched in metros – plans and benefits versus the Airtel Xstream AirFiber" mstype="2" mssubtype="0"></div> New customers must either spend ₹20,000 or more at any Reliance Digital or MyJio store or subscribe to a 3-month Diwali plan for ₹2,222 when setting up their JioAirFiber connection. Current JioFiber and JioAirFiber users can participate by subscribing to a one-time advance recharge of ₹2,222 for the 3-month Diwali plan. <h2>Diwali Dhamaka benefits</h2>You will receive 12 coupons, each matching the value of your active JioAirFiber plan, redeemable monthly from November 2024 to October 2025. Each coupon can be redeemed within 30 days of issuance at any Reliance Digital, My Jio store, JioPoint, or JioMart Digital exclusive store on your next purchase of electronics worth over ₹15,000. <h2>JioAirFiber features</h2>JioAirFiber, is the latest offering from Reliance Jio in the country. The company has introduced several plans for the service. JioAirFiber uses 5G technology to offer broadband services. This includes the installation of an outdoor unit on your rooftop and a wireless router. JioAirFiber has been priced starting at ₹599 and goes up to ₹3,999 per month. In addition to the internet, the plans come with benefits such as access to over 550 digital channels and 14 OTT apps. The company’s premium plans also come with Netflix, Amazon Prime and JioCinema Prime subscriptions. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-sale-to-begin-on-september-27/articleshow/113445238.cms">Amazon Great Indian Festival sale to begin on September 27</a> <a href="https://www.businessinsider.in/business/auto/news/triumph-speed-t4-launched-in-india-with-a-price-tag-of-2-17-lakh/slidelist/113429766.cms">Triumph Speed T4 launched in India with a price tag of ₹2.17 lakh</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a>

Reliance Jio announces Diwali Dhamaka offer – Get JioAirFiber free for one year

<keyword id="20509941" type="General" weightage="20" keywordseo="spectrum-auction" source="keywords">Spectrum auction</keyword> for <keyword id="22185968" type="General" weightage="20" keywordseo="mobile-radiowaves-services" source="keywords">mobile radiowaves services</keyword> worth Rs 96,000 crore ended with <keyword id="20055672" type="General" weightage="20" keywordseo="bids" source="keywords">bids</keyword> worth about Rs 11,000 crore, according to sources. The <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword> has put over 10,500 Mhz spectrum in eight <keyword id="21197262" type="General" weightage="20" keywordseo="frequency-bands" source="keywords">frequency bands</keyword> -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction. "There were no fresh bids in the morning session. The auction has ended with bids worth about Rs 11,000 crore," the source said, adding that <keyword id="19951944" type="General" weightage="20" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="261" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> has emerged as the biggest bidder in the auction. During the last auction in 2022, which turned out to be a seven-day affair, a record over Rs 1.5 lakh crore worth of 5G telecom spectrum was sold, with billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s <keyword id="19906886" type="General" weightage="20" keywordseo="Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio" meta.hostid="261" meta.entityid="Jio">Jio</keyword> emerging as the top bidder, cornering nearly half of all the airwaves (worth Rs 88,078 crore). At that time, telecom tycoon Sunil Mittal's Bharti Airtel made a successful bid of Rs 43,084 crore, while Vodafone Idea bought Spectrum for Rs 18,799 crore. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank">Stanley Lifestyles IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank">OnePlus Nord CE 4 Lite vs Poco X6 – which phone should you buy under ₹25,000?</a><a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank">IPOs this week – Allied Blenders and Vraj Iron and Steel look to raise ₹1,671 crore</a>

Spectrum auction ends with bids worth ₹11,000 crore, Bharti Airtel emerges as the biggest bidder

Race for India’s richest – The gap between Gautam Adani and Mukesh Ambani is narrowing

Top 10 richest people in Asia in 2024

<ul><li>The <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> is looking to foray into the <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> and payments segments in India.</li><li><keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> is India’s second richest man, with just <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> ahead of him.</li><li><keyword id="19898586" type="General" weightage="20" keywordseo="adani" source="keywords">Adani</keyword> Group is reportedly planning on offering <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword> and e-commerce services through the Adani One app.</li></ul> Gautam Adani-led Adani Group has a diverse portfolio, from ports to energy and more. The conglomerate is now reportedly looking to enter the e-commerce and payments segments as the group diversifies. According to a report by Financial Times, the Adani Group is in talks to enter the e-commerce and payments segments as it wants to expand its digital business to take on Mukesh Ambani’s <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> and Google in India. While the Adani Group has a stake in several businesses, it has yet to make its presence felt in consumer-facing segments. <cmsannotation type="cmsannotation" annotationid="Talks on for payments license, credit card" comment="subhead" text="Talks on for payments license, credit card">Talks on for payments license, credit card</cmsannotation> The Adani Group is reportedly considering applying for a license to operate on the country’s public digital payments network, the Unified Payments Interface (UPI). The group is also in talks with banks to offer a co-branded Adani credit card to its customers. <cmsannotation type="cmsannotation" annotationid="Push for ONDC" comment="subhead" text="Push for ONDC">Push for <keyword id="19987599" type="General" weightage="20" keywordseo="ONDC" source="keywords">ONDC</keyword></cmsannotation> The Adani Group is also reported to be in negotiations to enter the e-commerce segment through the government-backed Open Network for Digital Commerce (ONDC). With ONDC’s interoperable networks, companies do not have to invest in developing their own e-commerce platforms or payment systems. The ONDC services will reportedly be available on the company’s Adani One app, which was launched in 2022. The Adani One app currently offers travel services such as flight and hotel bookings. The services will initially be aimed at the company’s gas and electricity customers, offering them incentives to use their app in the form of cashback and discounts. <cmsannotation type="cmsannotation" annotationid="To take on Mukesh Ambani" comment="subhead" text="To take on Mukesh Ambani">To take on Mukesh Ambani</cmsannotation> Mukesh Ambani and Gautam Adani, who are the top two<a href="https://www.businessinsider.in/india/news/top-25-richest-people-in-india-in-2024/articleshow/110149894.cms"> richest people in India</a> have been competing for the top spot, with Adani occupying the top spot for a while. Gautam Adani’s net worth took a hit after a sharp decline in Adani Group shares during the Hindenburg saga. US-based research firm Hindenburg had released a report on the Gautam Adani-owned companies in late January in 2023, alleging stock manipulation among others. Adani Group’s<a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-mukesh-ambani-to-become-indias-richest-man/articleshow/106564235.cms"> shares rallied</a> after the country’s Apex Court passed a<a href="https://www.businessinsider.in/stock-market/news/adani-hindenburg-sc-verdict-sees-pack-rally-with-adani-energy-solutions-in-the-lead/articleshow/106505824.cms"> verdict</a> in favour of the group. Adani even went on to emerge as India’s richest man by adding $7.67 billion to his net worth in a short span. While Mukesh Ambani reclaimed the top spot, the gap is once again narrowing. According to the Bloomberg Billionaire’s Index, Gautam Adani’s net worth has now surged to $109 billion, just behind Mukesh Ambani who is valued at $114 billion, bringing down the gap to $5 billion. In the last year, Adani’s wealth has surged by $25 billion, while Ambani’s wealth has surged by $17.3 billion. Despite this surge, Adani’s wealth is yet to reach its peak of $119 billion. Adani’s new ventures will take on Mukesh Ambani’s JioMart and JioFinance, which is expected to soon begin offering payment services. Additionally, it will also take on Google Pay, one of India’s most popular UPI platforms. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/jiocinema-launches-new-annual-ad-free-subscription-plan-at-a-discount/articleshow/110486706.cms">JioCinema launches new annual ad-free subscription plan at a discount</a> <a href="https://www.businessinsider.in/sports/webstories/ipl-2024-award-winners-orange-cap-to-emerging-player-of-the-season-here-are-the-winners/slidelist/110454525.cms">IPL 2024 award winners – Orange cap to emerging player of the season, here are the winners</a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a>

Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google

New Delhi: <keyword id="19902194" type="General" weightage="100" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword> is reviewing a <keyword id="20738747" type="General" weightage="20" keywordseo="Sebi-order" source="keywords">Sebi order</keyword> imposing a fine and banning him from capital markets for five years in an alleged fund diversion case and will take appropriate next steps as legally advised, his spokesperson said in a statement on Sunday. <keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>, the spokesperson in a statement said, had resigned from the board of <keyword id="21260537" type="General" weightage="20" keywordseo="Reliance-Infrastructure-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Infrastructure Ltd" meta.hostid="153" meta.entityid="Reliance Infrastructure Ltd">Reliance Infrastructure Ltd</keyword> and Reliance Power Ltd, pursuant to Sebi's interim order dated February 11, 2022 in the matter pertaining to Reliance Home Finance Ltd. He "is in compliance with the said interim order (of February 11, 2022) for the last two and half years," the statement said. On the August 22 order that banned him and 24 others from the securities market for five years on charges of diversion of funds, the spokesperson said, "Mr Ambani is reviewing the final order dated August 22, 2024 passed by Sebi in the said matter, and will take appropriate next steps as legally advised." The Securities and Exchange Board of India (Sebi) had also imposed a fine of Rs 25 crore on Ambani, saying he orchestrated a scheme to "siphon off" funds from Reliance Home Finance, a listed subsidiary of conglomerate <keyword id="20479923" type="General" weightage="20" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="153" meta.entityid="Reliance Group">Reliance Group</keyword> of which he is chairman. The ban means that he and the other 24 will not be able to access the securities market and are prohibited from buying, selling or otherwise dealing in securities, directly or indirectly. In a separate statement, Mumbai-listed Reliance Infrastructure Ltd said it "was not a noticee or party to the proceedings before Sebi in which the order is passed. No directions are given in the order against Reliance Infrastructure Ltd". "Mr Ambani had resigned from the board of directors of Reliance Infrastructure Ltd pursuant to the interim order dated February 11, 2022 passed by Sebi in the same proceedings. Therefore, the order dated August 22, 2024 passed by Sebi has no bearing whatsoever on the business and affairs of Reliance Infrastructure Ltd," it said. Reliance Power, the other listed company of Anil Ambani's group, also issued a similar statement saying Ambani had resigned in 2022 and that the latest Sebi order has no bearing on it. Sebi in the August 22 order had stated that a "fraudulent" scheme "siphoned off" funds from Reliance Home Finance, which provides loans for housing and construction, by structuring them as loans to credit-unworthy borrowers. Most of these borrowers were linked to "promoters", the regulator had said. Anil Ambani and his elder brother Mukesh had in July 2006 split their father Dhirubhai Ambani-created Reliance Industries Ltd. Anil Ambani's Reliance Group spanned financial services, infrastructure and telecommunications while the elder brother got the traditional oil refining and petrochemicals business. Over the last few years, Anil Ambani has seen three of the largest firms within the group, including Reliance Communications, Reliance Capital, and Reliance Infrastructure, undergoing bankruptcy over unpaid debt. Sebi has charged that more than Rs 9,000 crore worth of loans from Reliance Home Finance were made to "nondescript borrowers who had no demonstrable financial ability to repay any of it". The other 24 banned include executives of Anil Ambani's Reliance Group and other unlisted companies connected to him.

Anil Ambani reviewing SEBI order, to take appropriate steps: Statement

Unless in a coma for the past several months, one would have come across the news of Anant Ambani, youngest son of Reliance Industries chairman Mukesh Ambani, getting married to <keyword id="20178843" type="General" weightage="20" keywordseo="Radhika-Merchant" source="keywords">Radhika Merchant</keyword>, daughter of Viren A. Merchant, on July 12 at Mumbai's Jio World Convention Center. The lavish wedding and pre-wedding events, following their engagement last year, drew nationwide attention for its grandeur and the presence of hundreds of celebrities and prominent personalities. Now, reports of the <keyword id="22409157" type="General" weightage="20" keywordseo="luxurious-gifts" source="keywords">luxurious gifts</keyword> given to Anant's close friends are also making waves. As per media reports, Anant Ambani surprised his groomsmen by giving each of them a watch worth ₹2 crore. These expensive <keyword id="22409155" type="General" weightage="20" keywordseo="Audemars-Piguet-watches" source="keywords">Audemars Piguet watches</keyword> are creating a buzz online. Guests are posting videos of the lavish gift hampers that include these elegant watches, showing how grand Anant's gesture was. <div type="image" title="Watches" msid="111733513" hostid="261" caption="&amp;lt;p&amp;gt;Screengrab from a video floating on the internet&amp;lt;/p&amp;gt;"></div>A Reddit post revealed that Anant had ordered a custom set of 25 limited edition Audemars Piguet Royal Oak Perpetual Calendar Luminary Edition watches. Famous recipients included Shah Rukh Khan, Ranveer Singh, Shikhar Pahariya, Veer Pahariya, and Meezaan Jafri, as deduced from social media updates and celebrity interactions. The watch Anant Ambani gifted has a 41 mm pink gold case and is 9.5 mm thick, with a see-through back and a secure crown. It has a pink gold dial with a special pattern, blue counters, pink gold hour markers, and glowing hands. The watch also features a pink gold inner bezel and a self-winding movement that shows the week, day, date, moon phase, month, leap year, and time. While Anant Ambani gifted Audemars Piguet watches to his groomsmen, Reliance employees also received Haldiram Bhujia as a wedding gift. <div type="twitter" handle="the_codewala" handlename="the_codewala" favoritecount="0" retweetcount="0" id="1810972241594863814"></div>Several Reliance employees shared photos and videos on social media of the gift box they received before Anant Ambani and Radhika Merchant's wedding on July 12. The red gift box has gold lettering that says: “With the divine grace of our gods and goddesses, we celebrate the wedding of Anant and Radhika. Best wishes, Nita and Mukesh Ambani.” (With inputs from TOI and Hindustan Times) SEE ALSO: <a href="https://www.businessinsider.in/india/news/pm-narendra-modi-attends-anant-ambani-and-radhika-merchants-star-studded-wedding-event/articleshow/111719695.cms" data-type="tilCustomLink" target="_blank">PM Narendra Modi attends Anant Ambani and Radhika Merchant's star-studded wedding event</a> <a href="https://www.businessinsider.in/politics/india/article/rahul-gandhi-takes-dig-at-politicians-attending-ambani-wedding-bash-while-commoners-are-dying-of-hunger/articleshow/111727513.cms" data-type="tilCustomLink" target="_blank">Rahul Gandhi takes dig at politicians attending Ambani wedding bash while commoners are “dying of hunger”</a>

Ambani wedding giveaways: ₹2 Crore Watches for SRK, Ranveer and Groomsmen, Bhujia for Reliance employees

<ul><li><keyword id="111343" type="General" weightage="20" keywordseo="Gautam-Adani" source="Orion">Gautam Adani</keyword> is ranked 4th in the world with a total net worth of $125 billion.</li><li>Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion.</li><li>The next rank from India is number 45 for <keyword id="6419840" type="General" weightage="20" keywordseo="Azim-Premji" source="Orion">Azim Premji</keyword> of Wipro with a net worth of $ 24.6 billion.</li></ul> The double As - Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one. There was a time when <keyword id="232460" type="General" weightage="20" keywordseo="Tata-and-Birla" source="Orion">Tata and Birla</keyword> were synonyms for India's rich. Every region had its own wealthy like the Shrirams, Thapars, Nandas, and Modis in the north or the Bangurs in the east or the Mafatlals, Walchands, Kirloskars, Khataus, Sarabhais and Lalbhais in the west and the M.A. Chidambaram group in the south. Over time, many groups have floundered and fallen on bad times. There are many defining moments in this journey which saw a debilitating impact on family industrial groups. The year 1964 was a turning point because this was when the Monopolies and Restrictive Trade Practices Commission was established. By that year, the MRTP Commission had finished collecting and sifting information on Indian big business and hence reliable data was available. The next interesting inflection point came in 1991, when the P.V. Narasimha Rao administration introduced the New Economic Policy. This is where it all changed - India's most radical policy document in the form of the New Industrial Policy - the Licence Permit Raj was scrapped on 24 July 1991. Democratic socialism had been consigned to the rubbish heap of history - Licence Raj, which was in place for four decades, came to an end with the new industrial policy announced by Finance Minister Manmohan Singh and Prime Minister P.V. Narsimha Rao, who also held the portfolio of Industries Minister. The New Industrial Policy proposed getting rid of Monopolies and Restrictive Trade Practices and abolishing industrial licensing for all but 18 industries. Foreign equity holdings were proposed to be raised by 51 per cent in a project. Indian industry was free of controls and bureaucracy like never before. Over the last 30 years, India Inc had been turned on its head. As per the Bloomberg Billionaires Index now, Gautam Adani is ranked 4th in the world with a total net worth of $125 billion. Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion. However, after Adani and Ambani the gap widens by a large extent and is then taken up by the software czars. The next rank from India is number 45 for Azim Premji of Wipro with a net worth of $ 24.6 billion. Shiv Nadar of HCL Technologies is at number 51 on the index with a net worth of $22.8 billion. The representation from India is then only at number 101 with Dilip Shanghvi with a net worth of $14.9 billion followed by Cyrus Poonawalla at 102 with $14.8 billion. Lakhsmi Mittal is at 103 with a net worth of $14.7 billion. Uday Kotak is ranked 106 with a net worth of $13.7 billion. Savitri Jindal is ranked at 119 on the Bloomberg Billionaires Index with a net worth of $12.9 billion. Sunil Mittal is ranked at 134 with a net worth of $12.2 billion. Kumar Birla is at 159 with a net worth of $10.8 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/over-2-49-crore-unaccounted-cash-seized-in-hyderabad/articleshow/94750636.cms">Over ₹2.49 crore unaccounted cash seized in Hyderabad</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms">Telecom sector to ring in stability in Q2 – Jio and Airtel expected to grow stronger, Vi weaker</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/this-giant-swing-in-manali-runs-on-ai/articleshow/94741834.cms">This giant swing in Manali runs on AI</a>

You Searched For "mukesh ambani worth" and got 11 results

Adani vs Ambani: Mukesh Ambani has overtaken Gautam Adani in race to become richest person in India

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Anil Ambani reviewing SEBI order, to take appropriate steps: Statement

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Ambani wedding giveaways: ₹2 Crore Watches for SRK, Ranveer and Groomsmen, Bhujia for Reliance employees

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Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one

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