Mukesh Ambani’s wealth shoots up, earned ₹90 crore per hour since lockdown

Sept. 29: At a time, during the outbreak of coronavirus pandemic, when millions of people in the country were facing shortage of food, India’s richest man and world’s fourth-richest person, Mukesh Ambani, has been earning ₹90 crore every hour since the March lockdown this year, according to IIFL Wealth Hurun India Rich List 2020. The 63-year old Reliance Industries chairman has amassed a total wealth of ₹6,58,400 crore. In fact, Ambani’s wealth is more than the combined wealth of the next five billionaires on the list.

At the beginning of the Covid-19 pandemic, Ambani’s wealth dropped by 28% to ₹3,50,000 crore and then backed by a series of fundraising and strategic investment from Facebook, Google and so on into Jio and Reliance Retail, his valuation registered a “V-shaped recovery” and increased by 85% in 4 months.