Mukesh Ambani added $17 billion to his fortune this year
NEW DELHI: It’s been a good year for Asia’s richest man, Mukesh Ambani.The Indian tycoon added almost $17 billion to his wealth as of December 23, the most in Asia, taking his net worth to about $61 billion, according to the Bloomberg Billionaires Index. In comparison, Alibaba Group founder Jack Ma’s net worth grew $11.3 billion, while Jeff Bezos lost $13.2 billion.
The surge in Ambani’s fortune this year was fueled by a 40% jump in the shares of his Reliance Industries Ltd, a conglomerate that’s pivoting more toward consumer offerings than its core oil refining and petrochemicals businesses. The rally in the stock is more than double the gains for India’s benchmark S&P BSE Sensex index during the period.
Investors are piling money on Reliance, betting newer businesses such as telecommunications and retail could soon unlock value. With a goal of building a local e-commerce giant to challenge the likes of Amazon.com Inc in India, Ambani has spent almost $50 billion -- mostly debt -- on a wireless carrier that’s become India’s No. 1 within three years of debut.
“Mukesh Ambani changed the narrative for Reliance Industries” as a leader not just in oil and gas but also in telecom and retail, and possibly soon in e-commerce as well, said Chakri Lokapriya, chief investment officer at TCG Asset Management, which oversees $3 billion in assets in Mumbai.
“He successfully identified, invested and executed rapidly to create this new narrative,” Lokapriya said. “We believe this can potentially double shareholder value over the next four years.”
The newer businesses are likely to contribute 50% of Reliance’s earnings in a few years, from about 32% now, Ambani said in August. A representative for Reliance didn’t reply to an email seeking comment on Ambani’s wealth.
译文来源：三泰虎 http://www.santaihu.com/49025.html 译者：Jessica.Wu
Bhoirronak • 2 hours ago
Courtesy to Mr.Modi,his fellow business partner.
Dalbir Singh • 2 hours ago
Within 4-5 years Adani & Ambani will own up the country.
Alansaar • 3 hours ago
another Masterisstroke by modiji
Tariq A • 1 hour ago
Getting richer at the expense of the nation.
Jac Chira • 1 hour ago
Even though BJP and India Failed, Ambani Won Thanks Modiji - Amitji
Raja Moorthy • Yangon • 1 hour ago
Crony Capitalism at its peak!
M • Visakhapatnam • 1 hour ago
And country's GDP plummeted to less than 4% from 7%. This is called 'achhe din'
Murli • INDIA.... MERA BHARAT MAHAN HAI • 1 hour ago
Why only 17 billion ... During Feku and Taklu administration Ambani can increase his wealth even by 100 Billion USD
Self irs • 11 mins ago
Well done modi.. Ambani got acche din
Punjabi • Planet Earth • 43 mins ago
keep looting the natural resources of India and keep getting rich
Mujeer • 46 mins ago
Unemployment is rising, GDP is going down, Factories are getting closed, workers are laid off, Inflation is raising, savings are going down....but Mr Ambani has added $17 billion!!! wow!!!
哇! ! !
Siby • Mumbai • 53 mins ago
Now he can buy election bond worth 2% of $17 billion to help his friend
Akii • 57 mins ago
shame on u Modi ji
Amarendra • delhi • 1 hour ago
Under banyan trees nothing grows. So is the case here Small entrepreneurs not allowed to grow.
Rodger Da Dodger • India • 1 hour ago
LOL how does this news benefit average Indian Citizen who cant even afford Onions/ or full tank of Petrol hehe
Jugal • 1 hour ago
Wow this is proof that how much BJP is illegally supporting these greedy corporates and on the other side killing farmers and poors. Most corrupt govt india has ever seen. Bjp hatao desh bachao....
Vishwanath • 1 hour ago
wider Rich and poor gap is not a recipe for rejoicing.
Vikas • 1 hour ago
whole of gdp growth is draining to ambani adani group . what's use if Ambani becomes richest in the world and 80 %of population struggles to meet it's basic needs
Truth Is Bitter • Bharath • 21 mins ago
Ache DIN from the Ruler ???
Roshan • 21 mins ago
BJP and Mukesh are friends.
Justin why? • 31 mins ago
While India is seeing a slowdown in economy, Modi helped Ambani to to grow faster than 7% rate
Avaneesh Dang • Hyderabad • 1 hour ago
BJP is helping Ambani's to Grow Richer.
Reeshu Yadav• 9 mins ago
only this man is getting all profit under modi go nment