Business Companies 17 May 2017 RIL chairman Mukesh ...

RIL chairman Mukesh Ambani added $7 bn to his wealth in Jan-May

DECCAN CHRONICLE
Published May 17, 2017, 5:31 pm IST
Updated May 17, 2017, 5:50 pm IST
Reliance Industries replaced Tata Group firm TCS as most valued stock on BSE in April this year.
Mukesh Ambani is chairman of Reliance Industries.
 Mukesh Ambani is chairman of Reliance Industries.

Mumbai: Reliance Industries chairman Mukesh Ambani added $7 billion to his wealth in five months' period starting January 2017, according to a report in The Economic Times. Ambani-led RIL replaced Tata Group's TCS as most valued stock on markets in April this year.

According to data on Bloomberg website, Ambani’s wealth recorded a phenomenal increase of $7.10 billion to $29.9 billion as of May 17, 2017, from what it was on December 31.

 

The report added the $7 billion addition to Ambani's wealth was biggest increase in personal wealth of any Indian business tycoon. Besides, Reliance Industries flourished on "healthy growth in core business quarter after quarter and a good response to his telecom venture Reliance Jio".

Reliance Jio, telecom arm of Reliance Industries, has shown a robust growth in terms of expanding the subscribe base since its launch on September 5 last year. As of March 2017, Jio garnered 109 million customers, an unprecedented increase recorded by any telecom player.

 

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