ANIL & MUKESH AMBANI IS KNOW MORE ASIA RICHES MAN.

ANIL & MUKESH AMBANI IS KNOW MORE ASIA RICHES MAN.

ANIL AMBANI

The Euity Wealth Crashes from $42 billion to $0.5 billion 

Anil Ambani, who was the 6th richest man in the world with a wealth of $42 billion in 2008, has now crashed out of the billionaire. In 11 years, the equity value of Ambani's entire business empire has now crashed to ₹3,651 cr ($523 million). That value, though, also includes substantial pledged shares.

Ambani's shrunk empire "THE RELIANCE GROUP" was valued at over ₹ 8,000 cr just four month back, before lenders invoked shares in his firms multiple time due to payment defaults. The drastic fall in value is on account of the sale of 42.88 per cent stake in mutual fund joint venture- Reliance Nippon life Asset Management (RNLAM). The other reasons for the value erosion include the higher level of pledging of promoter's stake in group companies and their invocation by lenders or falling market values.

 The Reliance Group companies had a total debt of over Rs 1.7 lakh crore. It would have drastically reduced after the sale of major assets and businesses. But in the process, Anil Ambani has lost a lot of his empire. Last week, he claimed that over Rs 35,000 crore of loans--- principal of Rs 24,800 crore and interest payments of Rs 10,600 crore --- have been paid back in the last 14 months and all future payment obligations will be met in a timely manner.

RELIANCE DEBT CHART :-

Reliance Capital    -   ₹46,400 cr

Reliance Communications   -   ₹47,234 cr

Relience Home Finance    -   ₹13,120 cr

Relience Infrastructure   -   ₹23,144 cr

Relience Naval and Engineering   -   ₹10,689 cr

Reliance Power   -     ₹31,697 cr

Mukesh Ambani earned a dividend of Rs 14,500 crore from Reliance Industries

 Anil has been desperately selling assets one by one to reduce his debt.

In 2020 month of May ASIA no.1 Richest man is JACKMA Owner of Alibaba.com

by-LIFE_RACER_A_D