A Little Brief About Mukesh Ambani & Co.
What a great year this has been for Reliance Industries Ltd. as Mukesh Ambani joins a club of the top 10 richest men in the world. Mukesh Ambani was already fighting for the richest men in the world.
His company position and financial value keep on increasing and decreasing(More on this below).
His Net worth as of June 2020 is $64.5 Billion edging out Oracle’s Larry Ellison and France’s Francoise Bettencourt Meyers. This new milestone came up after Ambani’s amassed more than $16.5 Billion of investment in just 3 months.
When the whole world is suffering from the crisis of Covid-19 and economic disbalance, Mr. Ambani and co. took a different route and achieved this milestone.
As per the Billboard Millionaire index, the Company’s net debt at the end of March was 1.61 Trillion Rupees($21 Billion) and after selling a junk of Jio platforms to Facebook, Silver Lake, TPG, Abu Dhabi Sovereign wealth fund, Saudi Arabia’s Sovereign wealth fund – RIL is now debt-free.
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RIL made 11 Jio Platforms relate deals in just 3 months and able to clear all their company’s debts. Jio attracted so many large investors from all over the world and achieved this milestone. The followings are the recent investments from other countries:-
- $15 Billion from Facebook, Silver Lake & TPG.
- $1.2 Billion from Abu Dhabi Sovereign wealth fund.
- $1.3 Billion From Saudi Arabia’s Sovereign wealth fund.
- A June report predicted that Jio is likely to capture 48% of India’s mobile subscriber market share by 2025 as Jio has entered digital media like Jio Internet, Jio Cinema, Jio Mobiles, Jio Health & Wellness.
Jio will be creating a new social media platform with the help of Facebook for digital payment. Jio’s customer stability and affordable services are the reason for its growth and development in recent years and now heading towards one of the fastest-growing companies in the world.
Closure
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