One of the wealthiest and respectable businessmen is the country is Mukesh Ambani. The whole country is well-aware of his wealth and over the years his career has reached new heights. The business man is the chairman of Reliance Industries which has proved itself a useful company.
The latest subsidiary of RIL is Jio. It has proved to be quite a profitable company after the launch of Jio Phone, an advance VoLTE feature phone that comes free of cost. It received excellent reviews which obscured the fact that by one measure the company’s debt has risen to at least 15 years high. The company also distributed Jio Sim cards with free calling and the internet.
According to Bloomberg’s Billionaire Index, Mukesh Ambani net worth has increased to USD 34.8 billion (around 2.2 lakh crores)
This much hype in his earnings has made Ambani the 19th richest person in the world, up from 29 at the end of 2016. He has elbowed past Hong Kong’s Li Ka-Shing who was earlier the second richest in Asia.
This has forced the analysts to focus on the cost of his ambitions. His company the Reliance Industries has added $12.1 billion to his wealth this year. The new $23 phone launched by the company last month has expanded the market for his fourth generation mobile network.
During the company’s annual general meeting, he described Jio as a jewel among Reliance other assets. He said, “It’s business and societal value will grow immensely over the next decade. Jio will become India’s largest provider of data service, products and application platforms.”
The Ambanis have invested a lot in their petrochemical and refining businesses. About $18 billion worth of projects are expected to come on board soon.
It will take Mukesh Ambani no time to become the richest man in Asia and we wish him luck.