Mukesh Ambani Overtakes Chinese Billionaire To Become Richest Man In Asia

Business,NDTV Profit Team, November 02, 2017
Mr Ambani's wealth grew by $466 million owing to 1.22 per cent rise in the shares of Reliance Industries
Mukesh Ambani, the chairman of Reliance Industries, is the richest person in Asia with a net worth of $42.1 billion as per Forbes' real-time billionaire's list on November 1. Mr. Ambani overtook Hui Ka Yan, the Chairman of China's Evergrande Group in the rankings after his wealth grew by $466 million owing to 1.22 per cent rise in the shares of Reliance Industries. Globally, Mukesh Ambani stood at the 14th spot on Forbes' real-time billionaire's list. His rank is evaluated on the basis of the value of his stock holding and assets on a real-time basis, Forbes said.
To put it in context, Mukesh Ambani's wealth is equal to the entire GDP of the former Soviet republic of Azerbaijan, as per World Bank Data 2016 estimates," Forbes said.
Meanwhile Hui Ka Yan's wealth slumped by $1.28 billion to $40.6 billion on Wednesday.
Reliance Industries is the country's most valued firm with a market capitalisation of over Rs. 6 lakh crore followed by TCS, HDFC Bank, ITC and HDFC in the top five list. The company's market valuation had first crossed the 6 lakh crore mark on October 24 on the NSE.
The Mukesh Ambani-led oil-to-telecom conglomerate Reliance Industries Ltd had earlier posted a 12.5 per cent increase in consolidated net profit to Rs. 8,109 crore in the September quarter.
With a net worth of $93.3 billion, Amazon founder and CEO Jeff Bezos raced past Bill Gates to become the world's richest man. Microsoft co-founder Bill Gates ranked second with his $89.5 billion fortune. Facebook founder Mark Zuckerbeg stood at the fifth spot with a fortune of $75.8 billion.
In India, at $19 billion, Wipro's Azim Premji was ranked the the second richest Indian.
Reference-https://www.ndtv.com/business/mukesh-ambani-is-the-richest-man-in-asia-according-to-forbes-1770400

Comments

Post a Comment

Popular posts from this blog

As financial insecurity rises in urban India, so does investment in insurance

Image
Scroll.in March 13, 2020 Urban Indians are becoming less confident about their financial security. Up to 58% of them fret over financial independence post retirement, which is a 4% increase from last year. An equal share of urban Indians worry about meeting their daily medical expenses and sustaining their current lifestyle once they stop working. The findings are part of a survey published by Delhi-based Max Life Insurance in association with London-based consultancy Kantar. The firms surveyed 7,014 respondents in 25 cities, including six metros, nine tier-1 cities, and 10 tier-2 cities, between December 2019 and January 2020. Source: Max Life Insurance via Quartz The trends Source: Max Life Insurance via Quartz Source: Max Life Insurance via Quartz Source: Max Life Insurance via Quartz A significant share of urban Indians also say their families will have no financial support in the event of the breadwinner’s death. In such a scenario, around 57% believe the family sav...
Read more

One month, 500,000 face scans: How China is using AI to profile a minority

Economics Times April 15, 2019 Paul Mozur The Chinese government has drawn wide international condemnation for its harsh crackdown on ethnic Muslims in its western region, including holding as many as 1 million of them in detention camps.  Now, documents and interviews show that authorities are also using a vast, secret system of advanced facial recognition technology to track and control the Uighurs, a largely Muslim minority. It is the first known example of a government intentionally using artificial intelligence for racial profiling, experts said.  The facial recognition technology, which is integrated into China’s rapidly expanding networks of surveillance cameras, looks exclusively for Uighurs based on their appearance and keeps records of their comings and goings for search and review. The practice makes China a pioneer in applying next-generation technology to watch its people, potentially ushering in a new era of automated racism.  The...
Read more
 The Telegraph  December 24, 2020 A new, potentially more infectious variant of the novel coronavirus that causes Covid-19 has been found in Britain in cases linked to South Africa, British health secretary Matt Hancock said on Wednesday.  South Africa’s health department said last week that a new genetic mutation of the virus had been discovered and might be responsible for a recent surge in infections there. “Thanks to the impressive genomic capability of the South Africans, we’ve detected two cases of another new variant of coronavirus here in the UK,” Hancock told a media briefing. “Both are contacts of cases who have travelled from South Africa over the past few weeks.”  Britain is already trying to curb the spread of a mutated strain of the virus which is up to 70 per cent more transmissible, and further studies are being carried out on the new variant. “This new variant is highly concerning, because it is yet more transmissible, and it appears to have mutated ...
Read more