Mukehs Ambani, KLakshmi Mittal, Azim Premji features in top ten rich Indians list.
Billionaire Mukesh Ambani on Monday pressed for bridging the digital divide "both among nations and within nations", saying connectivity and communications have become the fundamental rights of every person. Also, there is a need to bring back the economies around the globe. Speaking at the Qatar Economic Forum, he said it is difficult to imagine what India would have been without the 4G telecom network during the pandemic. "The digital divide must be bridged, both among nations and within nations.
A look at the party pictures.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
Prudential plc has announced its acquisition of a 75 per cent stake in Bharti Life Insurance for approximately 3,500 crore, a strategic move to secure majority ownership in the Indian life insurance market. This acquisition necessitates Prudential reducing its holding in ICICI Prudential Life Insurance to below 10 per cent.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
In a video shared by Deora, former Union minister, on his Twitter page, Ambani says "Milind is the man for South Mumbai", while Kotak eulogises the Mumbai Congress chief for "truly representing the Mumbai connection".
The business value of the league, popularly called the IPL, surged to a record $18.5 billion last year, U.S.-based investment bank Houlihan Lokey says.
Could it be about clout? Given its size and influence, RIL doesn't need the media for that, notes Vanita Kohli-Khandekhar.
With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
Anant Ambani, the youngest son of billionaire Mukesh Ambani and the first among three siblings to be appointed executive director on flagship Reliance Industries, will be paid Rs 10-20 crore salary annually plus a host of perks including a commission on company profits, according to a shareholder notice. While the richest Asian's all three children - twins Akash and Isha, and Anant - were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive directors, the youngest of the three was in April this year appointed executive director of Reliance Industries Ltd.
Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue.
Reliance Industries Ltd, whose offering of rock-bottom tariffs shook up the telecom industry, is looking to repeat the feat in the green energy business, where its billionaire chairman Mukesh Ambani sees promise to outshine all existing growth engines in 5-7 years. Having pledged Rs 6 lakh crore on green energy, Ambani says RIL will scale up investments in this business which will start going live in the next 12 months. "Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years," Ambani, chairman and managing director of RIL, said in the company's latest annual report.
Amabni to relinquish the position next month to join BofA's non-fiduciary global advisory council.
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
Billionaire Mukesh Ambani-led Reliance Industries on Monday sold 85 lakh shares of Asian Paints for Rs 1,876 crore through an open market transaction.
Billionaire industrialist Mukesh Ambani has turned a venture capitalist and is backing a new television channel Epic TV due to go on air next month.
Ambani now holds 80.52 lakh shares or 0.12 per cent of RIL, up from 75 lakh shares held before the rights issue. His wife Nita and children Isha, Akash, and Anant too got 5.52 lakh shares each after they subscribed to the rights offering. They, too, hold 0.12 per cent each in the firm.
The total wealth of India's top five billionaires, which stands at a whopping $83.7 billion, is more than the cost of 1,230 Mars Orbiter 'Mangalyaan' Missions and is more than 18 times the cost of hosting the 2016 Rio Olympics
The Ambani family, headed by billionaire Mukesh Ambani, possesses a wealth of Rs 28 lakh crore, more than double that of the Adani family at Rs 14.01 lakh crore, a report said on Tuesday. The 300 most valuable Indian families have a wealth of over $1.6 trillion (over Rs 140 lakh crore), or more than 40 per cent of the country's GDP.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
Having missed most of the first three industrial revolutions, India has its chance to lead the fourth industrial revolution through a convergence of its IT prowess, ultra-high-speed internet connectivity and affordable smart devices, billionaire Mukesh Ambani said on Thursday. The richest Indian, who heads the nation's most valuable company Reliance Industries, said his group's telecom and digital unit Jio was conceived to provide the key ingredients needed to lead the fourth industrial revolution.
Speaking at a fireside chat with Microsoft CEO Satya Nadella, he said the big change driving this transformation was the deepening of mobile networks which were working at a much faster pace than before.
Billionaires Mukesh Ambani and Gautam Adani have pledged their support to the Indian armed forces, who are currently repelling intense shelling, gunfire, and drone attacks from Pakistan. "We are very proud of our Indian Armed Forces for Operation Sindoor. India stands united, fierce in resolve and unshakable in purpose, against the scourge of all forms of terrorism," Ambani, chairman and managing director of Reliance Industries Ltd, said in a statement.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering USD 15.3 billion (67 per cent) to his last year's wealth to become one of Asia's top five richest.
Billionaire Mukesh Ambani's Reliance Industries Ltd may spend about $12-15 billion over the next few years on AI infrastructure that could include a giant 1GW data centre, Morgan Stanley said in a report. Ambani had at the company's annual shareholder meeting in August announced a major push into AI through a new subsidiary and strategic partnerships.
In the Forbes rich list Mukesh Ambani is ranked 39th.
The 2016 upstart, called Jio, dislodged rivals and has emerged as the nation's No. 4 carrier by offering call services free for life and data transmission at dirt cheap rates.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
'The top 11 billionaires in India added so much to their wealth during the pandemic that it would have sustained MNREGA for 10 years or the ministry of health for 10 years.'
About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.
Thanks to a $5.7 billion deal with Facebook, a Rs 53,125 crore rights issue and more stake sale to companies such as Saudi Aramco, the target is likely to be achieved by December.
Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
The collective wealth of the 100 richest went past $1 trillion for the first time.
It termed reports of the Ambani family looking to make the 300-acre country club in Buckinghamshire, Stoke Park their primary residence, as 'unwarranted and baseless speculation'.
Oil regulator PNGRB has approved the tariff that billionaire Mukesh Ambani-owned East-West pipeline will charge for transporting gas from fields off the east coast to users.
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