JIO Effect: Mukesh Ambani beats Chinese to become the second richest person in Asia
Reliance Industries owner Mukesh Ambani has become the second richest businessman in Asia by overtaking China-born industrialist Lee ka Shing. Lee now lives in Hong Kong and he also has citizenship of China.
According to the Bloomberg BillInayers, due to the rise of Reliance Industries shares, Ambani's account got additional money in his account, worth 12.1 billion dollars this year, with a net worth of $ 34.8 billion.
Shing's property is less than $ 1.5 billion less than Ambani's $ 33.5 billion. Shing's asset has increased by $ 4.85 billion during the last one year.
All this is the effect of JIO: The group's last year was launched the JIO to honor the chairman of Reliance Industries. The telecom company is contributing a lot to the richness of the owner.
He has invested heavily and has so far spent 31 billion dollars. The company has recently announced to offer Smartphone free for its customers. The company will take a security deposit of Rs 1500 from the customers, which will be returned after three years.
Out of the nearly half a million customers of JIO, only 25 million are those who have a smart phone. The company has announced to provide free phone for the remaining 10 million subscribers to increase the income from the 4G service. The
The group's main earnings are from Reliance Industries Limited. The company is the private sector leader in the field of refining and the second largest company in the country. Apart from oil refining, the group also earns from media, retail business and natural gas.