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India’s richest man moves up in Forbes’ ranking

The phenomenal growth of Reliance Jio, backed by its ultra-cheap data plans that has transformed the telecom scenario in India, has helped Reliance Industries Chairman Mukesh Ambani move six places up to rank 13th in US magazine Forbes’ "World’s Billionaire list 2019". Mukesh Ambani is now worth $50 billion – up from $40.1 billion in 2018 when he was at the 19th spot on the billionaires’ list. "Mukesh Ambani chairs and runs $60 billion (revenue) oil and gas giant Reliance Industries, among India’s most valuable companies," Forbes said. "In 2016, Reliance sparked a price war in India’s hyper-competitive telecom […]

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