• Wednesday, December 19, 2018

Mukesh Ambani topples Jack Ma as Asia's richest person

Discussion in 'World Affairs' started by manga, Jul 14, 2018.

  1. manga

    manga FULL MEMBER

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    Reliance Industries Ltd (RIL) Chairman Mukesh Ambani became the richest Asian on Friday, toppling Alibaba Group founder Jack Ma, according to a report by Bloomberg.

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    Written By:
    [​IMG]
    Zee Media Bureau



    Updated:
    Jul 13, 2018, 18:56 PM IST

    Reliance Industries Ltd (RIL) Chairman Mukesh Ambani became the richest Asian on Friday, pushing Alibaba Group founder Jack Ma to the second spot, according to a report by Bloomberg.

    The market valuation of Reliance Industries surged past Rs 7 lakh crore mark during Friday morning trade, as Ambani positioned his company to disrupt the e-commerce space in India.

    His net worth is estimated to be around $44.3 billion with RIL rising 1.6 percent to a record 1,099.8 Rupees, according to Bloomberg Billionaires Index. The business magnate added $4 billion to his wealth just in 2018.


    Ma’s wealth on the other stood at $44 billion at the close of trade on Thursday in the US, where the company is listed.

    Reliance Industries on Thursday crossed the USD 100-billion market capitalisation mark for the first time in the last 10 years.

    The market valuation of RIL had crossed the Rs 6 lakh crore mark in November last year. The company announced an aggressive business plan at its annual general meeting (AGM) held last week. The stock has been on an uptrend ever since and has gained nearly 14 per cent since July 5.

    http://zeenews.india.com/companies/...a-to-become-asias-richest-person-2124389.html
     
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  2. Kuru

    Kuru FULL MEMBER

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    Good to know.

    I've heard only 1% of the world population has 90% of the world wealth ? Anyone ?
     
  3. inder

    inder BANNED

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    good show .
     
  4. Fireurimagination

    Fireurimagination SENIOR MEMBER

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    JIO ;)
     
  5. inder

    inder BANNED

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    they are overstressing india's telecommunication networks .
     
  6. Fireurimagination

    Fireurimagination SENIOR MEMBER

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    Next they will overstress broadband, DTH and ecommerce space. Nobody is complaining the customer is the king.
     
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  7. inder

    inder BANNED

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    quality of mobile phone calls have gone down because of overloading of networks caused by crores of free connection and cheap phones distributed to all by jio . now anyone who is hardly earning bread is busy on free phone youtube,whatsup, facebook provided by jio .
     
  8. jetray

    jetray SENIOR MEMBER

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    This is not certainly a good thing, concentration of wealth only indicates that economic growth is only benefiting a few at the top.
     
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  9. LASER

    LASER FULL MEMBER

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    Don't be a socialist. Be a capitalist now.
     
  10. inder

    inder BANNED

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    even china and russia is getting benefit of capitalism .
     
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  11. LASER

    LASER FULL MEMBER

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    Oil money bruh:D

    Jio is peanuts compared to that.
     
  12. Fireurimagination

    Fireurimagination SENIOR MEMBER

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    Maybe, but that's like saying why educate everybody there will high competition for jobs. I am happy that Telecos that were ripping off Indians by charging Rs. 150 for 1 GB per month are now forced to provide 1 GB of data per day for Rs. 150 per month b'coz of JIO, in fact we have leapfrogged a good 5-10 years in the telecom sector because of JIO.

    True but the last mile which helped Mukesh overtake Jack was b'coz of JIO.
     
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  13. inder

    inder BANNED

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    but he should contribute with equally good infrastructure .
     
  14. prashantazazel

    prashantazazel FULL MEMBER

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    He has revolutionized the Telecom sector.
    This one guy has helped more Indians than any one politician/Mass leader/philanthropist.