Mukesh Ambani News
Reliance Industries gets shareholders, creditors OK for hiving off O2C business into separate entityIn February, RIL had announced the contours of spinning-off its oil refining, fuel marketing and petrochemical (oil-to-chemical) business into an independent unit with a USD 25 billion loan from the parent, as it looked to unlock value by settling stakes to global investors like Saudi Aramco.
Ambani security scare: National Investigation Agency searches hotel in MumbaiSuspended Mumbai police officer Sachin Waze, whom the NIA arrested last month in connection with the security scare outside Ambani s residence, was recently brought by the probe agency to the Babulnath area as part of its probe into the case, he said.
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MUMBAI: It was not a good Monday for Mukesh Ambani, the owner of India’s largest listed company
Reliance Industries, as RIL stock tanked over 5 per cent leading to a notional loss of wealth worth close to $5.2 billion for the family.
The notional wealth lost by the Ambani family today was greater than the market capitalisation of several Nifty50 companies and was equivalent to losing $13 million per minute of today’s trade.
Today’s loss will likely push Ambani to the 12th place in the Bloomberg Billionaires’ Index, where his position was at No. 11 at the time of publishing. According to the index, Ambani’s wealth was at $79.2 billion prior to today’s stock price crash.
Mukesh Ambani moves to 11th spot in world s richest billionaires list
According to the Bloomberg Billionaires Index, Ambani has moved up to the 11th spot; surpassing Oracle Corporation Co-founder Larry Ellison and world s richest woman Francoise Bettencourt Meyers
BusinessToday.In | January 23, 2021 | Updated 18:11 IST
Reliance Industries Chairman Mukesh Ambani
The recent record highs in BSE Sensex and Nifty levels have pushed Reliance Industries Chairman Mukesh Ambani up two places in the list of world s richest billionaires. According to the Bloomberg Billionaires Index, Ambani has moved up to the 11th spot; surpassing Oracle Corporation Co-founder Larry Ellison and world s richest woman Francoise Bettencourt Meyers. Ambani now has a total net worth of $79.2 billion (roughly Rs 5.78 lakh crore).
Synopsis
The RIL stock has fallen 15 per cent in the last three months, compared with a 21 per cent rise in Nifty50.
Reliance Industries chairman Mukesh Ambani
NEW DELHI: At some point last year, Reliance Industries (RIL) played a major role in the rebound that the benchmark equity indices stages from their March lows.
The rally in RIL shares was such that it helped Mukesh Ambani climb up the billionaires’ ranks to become the world’s fourth richest with a fortune of nearly $90 billion.
This was when the stock hit a record high of Rs 2,368.80 in September 2020. Since then, the stock has come off 19 per cent, and Ambani s fortunes have dropped to $73.9 billion. He is no more in the top 10 billionaires list. The dominance of RIL shares in the market benchmarks has also reduced significantly, though most brokerages still remain bullish on the stock.
NEW DELHI: Zhong Shanshan is a private billionaire who’s rarely quoted in the press.
Now, after an improbable career spanning journalism, mushroom farming and health care, he’s become Asia’s richest person, eclipsing India’s Mukesh Ambani and a group of Chinese tech titans including Jack Ma.
Zhong’s net worth has surged $70.9 billion this year to $77.8 billion, making him the 11th-richest person on the planet, according to the Bloomberg Billionaires Index. It’s one of the fastest accumulations of wealth in history, and all the more remarkable considering that until this year he was little known outside of China.