The wealth of the 1% keeps increasing - that's a fact. Hell, the interests on their savings itself could run a small nation. And when it comes to India and the rich, you go straight to Mr. Ambani - earlier known as Asia's richest man. Well now, he's levelled up.
Mukesh Ambani, Chairman of Reliance Industries Ltd. has just joined the club of the world's top 10 richest people. He is the only Asian in this uber-exclusive coterie.
According to the Bloomberg Billionaires Index, he overtook Larry Ellison of Oracle Corp. and France’s Francoise Bettencourt Meyers, the wealthiest woman in the world, to reach the No. 9 spot.
A stream of investments into Jio Platforms Ltd. has doubled the tycoon's shares, even as other billionaires have suffered losses due to the pandemic.
Jayati Ghosh, chair of the Centre for Economic Studies and Planning at JNU, said,
While the Indian economy has been nearly decimated during the lockdown to control the spread of Covid-19, Mr. Ambani’s companies (particularly the telecom giant Jio) have prospered, and his personal wealth has increased substantially.
Do you think he has a room in Antilia where he just dives into a pool of money?