India’s richest man Mukesh Ambani that surged past Silicon Valley Elon Musk and Alphabet co-founders Sergey Brin and Larry Page to become world’s fourth-richest person.
Mukesh Ambani’s wealth rose by Rs2,77,700 crore to Rs6,58,400 crore with the Reliance Industries.
Hurun said he is the only Indian to feature in the top 5 on the global rich list.
His total wealth is now more significant than the combined wealth of the next five in the list, making him Aisa’s wealthiest individual and the fourth richest man across the world.
The chairman and the MD of the oil-to-telecom reliance industries saw total wealth surging 73% in the last one year, IIFL Wealth Hurun India Rich List 2020 said.
At the beginning of coronavirus pandemic, Mukesh Ambani’s wealth dropped by 28%, then backed by a series of fundraising and strategic investment from Facebook, Google, Silver Lake, among others, into Jio and Reliance Retail, improved by 85% in just four months.
Despite Covid-19 lockdown, the Reliance’s market crossed Rs10 lakh crore and registered a 73% increase in Mukesh Ambani’s wealth.
The Hurun India list is a compilation of the wealthiest individuals in India comprising a wealth of Rs1,000 crores or more on August 31 of this year.
In Hurun India’s 2020 edition, the list consists of 828 Indians.
The Hurun India Rich List is a barometer of Indian economy that helps us understand us understand the industries that have gone up, innovated, or gone down.
A further 21 percent of the additional wealth has been generated by pharma, mainly on the rise in healthcare spends and realigned priority towards personal healthcare stimulated by the Covid-19,” Hurun India stated.