The Hurun Global Rich List 2019 has placed India’s richest man and Reliance Industries chairman Mukesh Ambani at eighth place. He has stormed into the league of top 10 richest people of the world for the first time.
His net worth is estimated at US$54 billion (Rs 3.83 lakh crore).
On the other hand, his brother Anil Ambani is fighting bankruptcy and recently pulled up by the Supreme Court for not paying Rs 540 to Ericsson.
Anil Ambani started off on equal footing with Mukesh Ambani after Reliance businesses were divided between the two brothers in 2005. He was listed as India’s 3rd richest man by Forbes in 2007 with a net worth of $45 billion while Mukesh Ambani was net worth was $49 billion.
Over the years, Anil Ambani’s network has been plummeting and now stands at $1.9 billion. Among other things, the fall of Reliance Communication in which he had his largest share of investment, is held responsible for declining fortune of Anil Ambani. Reliance Communication is said to have folded up its business unable sustain competition from Jio, floated by Mukesh Ambani.