Forbes richest people 2019: Mukesh Ambani tops 12 times in a row

Forbes recently released list of India's Richest people of 2019 on October 11 where Mukesh Ambani, Indian business tycoon, topped list for 12th time in a row, Industrialist Gautam ani took an impressive leap of eight places and took second place. According to Forbes, Ambani h ded $4.1 billion to his net worth as Jio, three-year-old telecom unit of his Reliance Industries. Jio also became India's top mobile carrier with nearly 340 million subscribers. Gautam ani took an interesting leap due to securing permission in June to initiate work on an Australian coal mine. 

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Ors among list of richest Indians

In dendum to old faces, Forbes included six new faces this year like Byju Raveendran, founder of a fast-rising edtech unicorn called Byju's, Mahar Lal and Mhusudan Agarwal of Haldiram Snacks and Rajesh Mehra, who owns Jaquar brand of bathroom fittings. However, according to Forbes, net worth of nearly half of members in list dropped off. More than 14 members reportedly lost $1 billion or more in previous year and nine members' rank fell. Also, total wealth of richest men fell by eight percent from 2018 to $452 billion. According to Forbes, remarkable decline was due to tech tycoon, Azim Premji giving up a huge amount of money away. 

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Reliance Capital Will Longer Be In Lending Business

Last week Reliance Anil Dhirubhai Ambani Group (AG) Chairman Anil Ambani revealed that Reliance Capital would longer be in lending business. He was dressing Annual General Meeting of Reliance Capital. He mentioned that effective debt of company would be reduced by Rs.25,000 crore. According to him, debt resolution plans would be rey by December 2019. A week ago, credit ncy CARE h downgred rating of Reliance Capital to ‘CARE D’ for its long-term debt program and subordinated debt.  

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