Ambani’s assets are down $ 580 billion. He was forced to second. Zakma, the founder of Chinese online business Alibaba Group, tops $ 4,450 billion. Currently his wealth is more than $ 20 billion more than Mukesh Ambani.
Just yesterday Crude oil Prices have dropped to the lowest level in 29 years. Between Saudi Arabia and Russia Crude oil The war and the Covite 19 virus were severely reduced. Reliance Industries shares plummeted.
Reliance Industries is facing severe recession. By 2021, Reliance Industries will be converted into a debt free company. Mukesh Ambani The question arises as to whether the stated goal can be achieved. He decided to sell it to Saudi Aramco, a partner of Reliance Industries. But there is doubt as to whether the project will help achieve its stated goals.
Alibaba Corporation was also damaged in the attack by the Kobit-1 virus. Still, the company’s cloud computing services and mobile processors were offset by revenue.
However, Reliance Industries is not currently aware of the potential for growth in revenue or inflation. Corporate shares fell 12% in trading yesterday. The company is experiencing the biggest decline since the 20th. This year it is estimated to be 26 percent.
Many of the world’s richest people have lost their wealth. The average drop was .5 decimal percent. The decrease comes after a 20-year sub-major stagnation in the US.
Mukesh Ambani’s burden of telecommunication services, technology and retail business has increased significantly over the past few years.
Reliance Jio has invested $ 5,000 billion alone. They are all deposited through debt. The company has risen to the top position in three years, but debt burden has increased.
The talks between Aramco over the acquisition of Reliance Industries’ shares have not yet been finalized. As a result, the deal is expected to be completed. The Indian government has also filed a lawsuit against the issue in court. This is also a major obstacle to the implementation of this agreement.