Mukesh Ambani earned Rs 90 crore every hour in the epidemic

Posted on 30th Sep 2020 by rohit kumar

After the lockdown in March due to coronavirus, markets and employment collapsed badly and many businesses were shut down. But Reliance Industries (RIL) chairman Mukesh Ambani earned Rs 90 crore every hour even during the epidemic. In the last one year, his wealth has increased by 73 percent to Rs 6,58,400 crore. Since March's lockdown, Ambani's wealth has grown so fast that he once again topped the Hurun India Rich List in 2020. Mukesh Ambani, who topped this list for the ninth consecutive year, is also the richest person in Asia and the fourth richest person in the world.

 

Ambani's company RIL is also one of the largest wealth-raising companies in the stock market in 2020. During this time his wealth increased by 48 percent. When the market collapsed in March, the company's stock fell to Rs 867.82. But since then, the company's stock has jumped by 158 percent and is currently running at Rs 2,200.

 

The Hinduja brothers living in London are second in Hurun's list but the gap between them and Ambani is very high as the total assets of Hinduja are only Rs 1,43,700 crore. However, these brothers have been in the limelight in the last few months as Srichand Hinduja's daughter has reached court to take over her father's property. After Hinduja, in third place is Shiv Nadar, founder of HCL Technologies and in fourth place is Gautam Adani and his family. Azim Premji is standing in the fifth position.

 

During the epidemic, not only Ambani's wealth but also the wealth of Cyrus S. Poonawala of Serum Institute of India has grown rapidly. His wealth grew by 6 percent and reached the sixth position in the list with Rs 94,300 crore. The name of Acharya Balakrishna is also included in the list. Balakrishna, who laid the foundation of Patanjali Ayurved with yoga guru Ramdev, is at 18th position with Rs 46,800 crore and

 

Aditya Birla is the chairman of the group, Kumar Mangalam Birla. Birla is at the 22nd position in the list with Rs 34,000 crore.

 

This time the interesting thing on the Hurun list is that 11 professional managers have reached it. The richest professional with a net worth of Rs 11,300 crore is 60-year-old Thomas Kurian, who earned a fortune by selling his stake in US-based tech giant Oracle. Ignacius Naval Noronha, 45 years Chief Executive Officer (CEO) of Ave Supermarts, with assets of Rs 3,200 crore, has become India's richest CEO.

 

The total wealth of Indian billionaires now stands at Rs 60 lakh crore, a 20 percent increase over 2019. Calculating in dollars, there are 179 billionaires in India, which has increased by 13% over the last year. The report said that India is the third country after the US and China to become the fastest billionaires.

 

This time there are 828 Indians in the Hurun list, whose assets are more than Rs 1,000 crore. Of these, 627 increased their wealth in 2020, and 162 are newcomers. This list is made by looking at assets as of August 31, 2020. The price of 1 US dollar was 73.67 rupees that day.

 

Anur Rahman Junaid, managing director and chief researcher of Hurun India, said that Mukesh Ambani alone contributed 28 percent to the increase in the wealth of the people in the list. 21 percent of the excess wealth came from the pharmaceutical sector as the cost of treatment and personal care increased during the epidemic.

 

The brilliant IPO of Happiest Minds which came this month has also made the company's founder Ashok Suta in the Hurun list for the first time. Suta has a net worth of Rs 3,700 crore. Radhakishan Damani, founder of Avenue Supermarts, has become one of the richest 10 people. Ritesh Agarwal of Oyo Rooms has become the youngest billionaire by reaching this list at the age of just 26 years. He has assets worth Rs 4,500 crore. Dharam Pal Gulati, on the other hand, is the oldest billionaire on the list with assets of Rs 5,400 crore. Gulati of spice company MDH is 96 years old.

 

About five percent of the list is women, with Godrej's Smita V Krishna being the richest with Rs 32,400 crore. Biocon's Kiran Mazumdar-Shaw is the second richest woman after them with assets of Rs 31,600 crore. The average age of the women included in the list is 61 years. 217 i.e. 26 percent of the billionaires included in the list are from Mumbai.