‘Mukesh Ambani world’s 10th richest with networth of $54 bn’

‘Mukesh Ambani world’s 10th richest with networth of $54 bn’
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New Delhi, Feb 27: With a networth of $54 billion, Reliance Industries Chairman Mukesh Ambani has broken into the global top 10 richest billionaire list complied by Hurun Research.
“The only Asian in the Top 10, Ambani’s wealth is based on telecom, retail and energy, and bucked the poor stock market trend in India last year,” Hurun Research said in a statement.
The Hurun Global Rich List 2019 is topped by Amazon chief Jeff Bezos for the second year in a row, while the senior Ambani is placed 10th with a network of Rs 3.83 trillion, thanks to a rally in RIL shares, which had topped the Rs 8-lakh-crore-mark last month. Ambani owns almost 52 percent in Reliance.
Anil Ambani, held in contempt of court by the Supreme Court last week for not paying up Ericsson Rs 540 crore, has lost over $5 billion, from $7 billion seven years ago to $1.9 billion this year, even though both the brothers got off with more or less same amount of inherited wealth.
“Having started off similarly after the break-up of the family wealth, Mukesh added $30 billion to his wealth in the past seven years, while Anil has lost over $5 billion during the same period,” says the Hurun report.
Other individuals from India who were named in the list include S P Hinduja (40th), Azim Premji (57) and Cyrus Poonawalla.
Cyrus S Poonawalla, chairman of the Poonawalla group that run Serum Institute, with a networth of $13 billion is not only ranked as the fourth richest Indian but also breaks into the top 100 global ranking.
Steel giant ArcelorMittal’s Lakshmi Mittal stands at fifth position, followed by Kotak Mahindra’s Uday Kotak ($11 billion), Gautam Adani ($9.9 billion) and Sun Pharma’s Dilip Shanghvi ($9.5 billion).
Cyrus Pallonji Mistry and Shapoorji Pallonji Mistry, both with wealth of$9.5 billion each come in the ninth and the 10th position, respectively, thanks to their 18.4 percent holding in the country’s largest conglomerate Tata group.