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Mukesh Ambani now second richest Asian

Mukesh Ambani now second richest Asian

India Blooms News Service | | 01 Aug 2017, 01:03 pm
New Delhi, Aug 1 (IBNS) : Mukesh Ambani has overtaken Hong Kong business magnate Li Ka-shing to become Asia's second-richest man.

According to the Bloomberg Billionaires Index, the Reliance Industries Chairman's wealth has seen a rise of $12.1 billion (around Rs. 77,000 crore) .

According to reports, the shares of Ambani's  refining-to-telecom company surged to a record while a new $23 phone (Rs. 1,500) launched last month will expand the market for his  fourth-generation mobile network.

Ambani in the Reliance Industries Annual General Meet last month announced the launch of the JioPhone.

The phone is effectively free, but buyers will have to pay a refundable security deposit of Rs 1,500 which will be returned to the consumers after a period of 36 months.

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