A 42% stake in Reliance Industries is the source of most of Mukesh's wealth. Other major assets include a 45% stake in Jio Financials Services, the Mumbai Indians cricket team, and a mansion in Mumbai.
“Jio is one of the largest transformational digital initiatives anywhere in the world with an initial investment of more than ₹ 150,000 crore. It really is the world's biggest start-up," Ambani added. RIL has previously pegged the investment figure for Reliance Jio at $14 billion (about ₹ 85,000 crore).
Shareholding. The number of shares of RIL are approx. 644.51 crore (6.44 billion). The promoter group, the Ambani family, holds 50.39% of the total shares whereas the remaining 49.61% shares are held by public shareholders, including FII and corporate bodies.
Brokerage BofA has reportedly pegged the valuation of Mukesh Ambani's Jio Platforms at $107 Bn and is bullish about the company. Jio Platforms houses telecom operator Reliance Jio Infocomm and other digital businesses of Reliance Industries Ltd (RIL).
Reliance Jio Q2 results: Reliance Jio Infocomm reported a 12% year-on-year (YoY) rise in standalone net profit for the quarter ended September 2023 to ₹5,058 crore from ₹4,518 crore a year ago. Sequentially, net profit for Q2FY24 rose 4% from ₹4,863 crore in Q1FY24.
Reliance Jio | MuKesh Ambani का ब्रह्मास्त्र | Rahul Malodia
Is Jio making profit?
Reliance Jio on Friday reported a net profit of Rs 5,058 crore in the quarter ended September 2023, up 4% quarter-on-quarter (QoQ), compared with Rs 4,863 crore in the June quarter. The profit figure was marginally higher than the ET Now Poll estimate of Rs 5,038 crore.
Mukesh Ambani is once again Asia's richest person, with his net worth crossing the $100 billion mark on Friday. Reliance Industries chairman Mukesh Ambani has once again climbed to the top as Asia's richest man after dethroning Gautam Adani.
Who is the CEO and founder of Jio? The Founder Of Jio Is Mukesh Ambani And The CEO Of Jio Is Akash Ambani. Jio Telecom Is The Largest Telecom Company Which With Over 426 Million Subscribers And Total Revenue Of Jio Is ₹90,287 crores (USD 11 Billion) In Year 2020–2021.
Recent News. Reliance Industries Limited, privately owned conglomerate that operates in petrochemical production and refining, textile, retail, marketing, telecommunications, and other industries. It was the first privately owned Indian company to enter the Fortune 500. Headquarters are in Mumbai.
With an estimated net worth of $106.2 billion according to Forbes as of January 2024, he is the richest person in Asia and 15th richest in the world. Sometimes characterized as a plutocrat; he has attracted both fame and notoriety for reports of market manipulation, political corruption, cronyism, and exploitation.
Tata is considered a global brand whereas Reliance is much more concentrated in India despite some of its companies having interests around the world. When it comes to revenues the Tata group earns greater as they made $106 billion in comparison to Reliances $92 billion.
What about the rest of the family's car collection? The Ambani family is based in Mumbai, with their enormous home, Antilia, allowing 168 cars to be parked inside, according to BollywoodShaadis.
The Ambani Family at the reception of Deepika Padukone and Ranveer Singh in 2018. Nita Ambani was born as Nita Dalal to Ravindrabhai Dalal and Purnima Dalal. Her sister, Mamta Dalal, who works as a school teacher is known to teach Sachin Tendulkar and Shahrukh Khan's children.
Ambani was the third of five children born to a village schoolteacher and his wife, and he grew up in a family of modest means. At the age of 17, he migrated to the British colony of Aden to join his brother. He started his career as a clerk at A.
Ambani began a business trading in spices in the late 1950s, calling his nascent venture Reliance Commercial Corporation. He soon expanded into other commodities, following a strategy of offering higher-quality products and accepting smaller profits than his competitors. His business grew quickly.
Reliance's standalone gross debt rose Rs 21,260 crore in FY23 to Rs 2.15 lakh crore. Net debt rose to Rs 72,897 crore (about $ 9 billion) as of March 2023 from Rs 12,328 crore a year earlier.
2020-2021 - Despite facing challenges, Jio maintained growth, reporting a revenue of approximately INR 87337 cr. 2021-2022 - The pinnacle of success, with Jio's annual revenue soaring to around INR 123396 cr.
