Top 50 power people | The High & Mighty Part-1
1. Mukesh Ambani
62, CMD, Reliance Industries
Because he is India's biggest wealth creator. Reliance Industries Ltd (RIL) is the country's most valuable company, with a market cap of Rs 8 lakh crore as on July 24; and cash, cash equivalents and marketable securities of Rs 1.32 lakh crore as on June 30, 2019
Because RIL posted its highest-ever quarterly profits in the fourth quarter of FY19-Rs 10,362 crore. Total profits for the year stood at Rs 39,588 crore on revenues of Rs 6.22 lakh crore (up 45 per cent from FY18)
Because the world's 13th richest man, with a net worth of $50 billion (Rs 3.45 lakh crore), has seen his wealth increase 25 per cent in a year (FY19), according to Forbes
Because even as the company's traditional refining business slowed down, modern ones have flourished-Reliance Retail crossed Rs 1 lakh crore in revenues in FY19, and mobile telephony business Jio is now No. 2 with 322.9 million subscribers (June '19 figures)
Cross-Connection
Known to be close to PM Narendra Modi, he surprised many by publicly endorsing Congress candidate Milind Deora for the Mumbai South Lok Sabha seat. That Deora lost is another matter.
Like Father, Like Son
Son Akash Ambani plays a big role in Jio, being the force behind the 10-odd acquisitions the cellular business has made. This
