It is pretty apparent that Indians love cricket, and millions of Indians look forward to this specific cricket event every summer. And if you’re a fellow cricket lover, you’ll understand what we’re talking about. The Indian Premier League, or IPL, is one of India’s most popular cricket tournaments. Fans look forward to seeing their favorite cricketers from across the world compete in teams.
The event is grand, and advertisers invest millions of dollars in it. But the main attraction before the event is the auction of players. Team owners spend so much money to get the most suitable players for their teams. Fans also observe this auction very carefully as it makes or breaks their favorite teams.
These club owners place bids for the players they desire, and if the player is popular or trendy, the costs might skyrocket. On the 12th and 13th of February, the IPL auction took place in Bangalore. The occasion was spectacular, and all of the team owners attended. When their favorite players were selected by their beloved teams, the supporters were ecstatic.
Let’s take a look at how many teams are present this year, as well as all of their owners.
Let’s start the list with one of the most popular teams in the game, Mumbai Indians. As the name suggests the team is based in Mumbai, Maharashtra. Mumbai Indians is a team completely owned by the Reliance Industries Ltd.Mukesh Ambani and Neeta Ambani bought Mumbai Indians in 2008. The team has won a lot of matches and has a massive fan following. The massive fan base stems from the renowned record of successful tournaments as well as the great players associated with it, such as Sachin Tendulkar, Malinga, Rohit Sharma, and others.
Chennai Super Kings
Owners: India Cements, Sharda Logistics, LIC, Radhakishan Damani, and Non-Promoter Group
Chennai Super Kings
The Chennai Super Kings are one of the most popular teams in the country, with major stars like MS Dhoni, Raina, Bravo, and a slew of others. This year, the squad has five owners and has become India’s first unicorn sports team. The team is 54.6% owned by India Cements, 30.1% by Sharda Logistics, 6.9% by LIC, 6% by Radhakishan Damani, 2.4% Non-Promoter Group.
Kolkata Knight Riders
Owners: Red Chillies Entertainment & Mehta Group
Kolkata Knight Riders
Kolkata Knight Riders also known as KKR, is a team based in Kolkata, West Bengal. The team is known for their catchy phrase in Bengali, ‘Korbo, Lorbo, Jeetbo Re’. The team is owned 55% by Shah Rukh Khan’s Red Chillies Entertainment and 45% by Juhi Chawla and husband Jay Mehta’s Mehta Group.
Royal Challengers Bangalore
Owner: United Spirits Ltd.
Royal Challengers
The team, commonly referred to as RCB, is a force to be reckoned with in terms of talent. Many great names are associated with it, however, they are sometimes referred to as “underachievers” owing to some of their poor performances. United Spirits established the team, which is named after their well-known liquor brand Royal Challenge. The squad has a large fan base, and when it comes to games, the fans are incredibly enthusiastic and dedicated. The team is completely owned by United Spirits Ltd.
Rajasthan Royals
Owners: Emerging Media, Spinners (Shane Warne), Blue Water Estate Ltd, Tresco International Ltd, and RedBird Capital
Rajasthan Royals
This team is known for buying unknown or less popular cricketers who have never played in such events. The management of the Royal Challengers is known to help upcoming cricketers become well-known faces. Most fans adore this quality of their favorite team. The team is owned by five different owners. The owners are Emerging Media, Spinners (Shane Warne), Blue Water Estate Ltd, Tresco International Ltd, RedBird Capital.
Owners: Dabur, Wadia Group, Preity Zinta, and Apeejay Group
Punjab Kings
The franchise is based in Mohali, Punjab, and was previously known as Kings XI Punjab. The squad has a sizable fan base. At the time, the team is owned by four separate entities. The team is owned 46% by Dabur, 23% by Wadia Group, 23% by Preity Zinta and 8% by Apeejay Group.
Sunrisers Hyderabad
Owner: Kalanithi Maran
Sunrisers Hyderabad
The team is based in Hyderabad, Telangana, and debuted in the IPL in 2013. The team was launched in 2012 after the IPL canceled the Hyderabad-based Deccan Chargers. Sunrisers replaced Deccan Chargers due to the bankruptcy of the Deccan Chronicles. Kalanithi Maran of the Sun TV Network owns the new Hyderabad-based team.
Delhi Capitals
Owners: GMR Group and JSW Group
Delhi Capitals
The Delhi Capitals, formerly known as the Delhi Daredevils, first competed in the IPL in 2021. The squad has always been chastised by its fans for its dismal performance in previous competitions prior to the name change. However, they have done well in the previous two tournaments. They put up a fantastic show and finished at the top spots of the point table. GMR Group owns half of the corporation, while JSW Group owns the other half.
The Ahmedabad, Gujarat-based team, which was founded in 2021, will compete in its debut tournament this year. Hardik Pandya will head the team, which will be coached by Ashish Nehra. The franchise is owned by CVC Capital, and the fans are thrilled to have a new team to look forward to.
Lucknow Super Giants
Owner: RPSG Ventures Ltd.
Lucknow Super Giants
The team was created in 2021, and its debut event will be held in 2022. It’s a team from Lucknow, Uttar Pradesh. KL Rahul is the captain this year, while Andy Flower is the team coach. The team is owned by RPSG Ventures Ltd. The supporters are ecstatic to have a new team to support.
Conclusion
The Indian Premier League, or IPL, is one of the country’s most popular cricket tournaments, with a large fan following. Teams are worth millions of dollars to companies and businesses. The better the players, the better the team and the higher the brand value, which is why the owners take the bidding process seriously and attempt to acquire as many strong players as possible. The auction is always exciting to watch, and fans are eager to see which players are assigned to which teams.
FAQs
Who has scored the fastest 50 in IPL?
KL Rahul has scored the fastest 50 in 2018. He faced 14 balls and made 51 runs.
Why did CSK leave the IPL for 2 years?
The team was suspended from the IPL for two years beginning in July 2015 owing to their owners’ participation in the 2013 IPL betting case.
Is IPL under the BCCI?
Yes, IPL was founded by the BCCI in 2007.
Who is the owner of Mumbai Indians IPL team?
Mumbai Indians IPL Team is owned by Reliance Industries group – Mukesh Ambani, Nita Ambani along with son Akash Ambani.
Which IPL team has the highest brand value?
Chennai Super Kings has the highest brand value with the highest fan following.
Who is the richest IPL Team owner?
Mukesh Ambani is the richest IPL Team owner who owns Mumbai Indians IPL Team.
Reliance Jio, we all have been hearing a lot about this company for the past few years. Reliance Jio is a well-structured company whose business model is considered ‘the sweetest data bait.’
Jio has proven itself the icon of international tech and private capital investors. According to estimated data, Jio has raised Rs. 67,194.75 crore from the forthcoming technology investors including Silver Lake, General Atlantic, Facebook, and Vista Equity.
With the vibrant interest of the foreign investors in the Indian market have signed several deals for Reliance Jio. When it comes to the business model of Jio, the company has opted for very cleverish strategies which have resulted in remarkable profits for the company.
Reliance Jio holds a very strong position in the market with an immense customer base. Through this article, we will be discussing the business model of Reliance Jio briefly along with its tremendous marketing strategies. Let’s begin!
Jio is officially termed as Reliance Jio Infocomm Limited which functions as the Indian telecommunications company. Jio was founded by Mukesh Ambani in 2007 as the subsidiary of Reliance Industries.
Reliance Jio, which functions as a subsidiary of Jio platforms and telecommunications services providers has its well-established headquarter in Mumbai, Maharashtra, India. Alongside the company operates all 22 telecom circles through the National LTE network. Through this, Jio provides the voice service on its 4G network, that too only from the LTE network.
Today, Jio is known as the largest mobile network operator across India and the third-largest in the world. The company has over 42.62 crore subscribers. Recently in 2019, Jio launched its service of fiber to the home, where it offers television, telephone, and home broadband services. As of 2020, Reliance Jio raised its funds by selling around 33% equity stake in Jio Partner, worth Rs. 1.65 lakh crore that is, US$23 billion.
Jio Business Model and the success story
Key Product and Services of Reliance Jio
Reliance Jio Services
Reliance Jio offers tons of amazing services through its fiber-to-the-home services. Its key services include telephone services, television, and home broadband services.
While its key products are Mobile Phones, top-notch internet speed and services, fixed-line telephone, OTT services, and Wireless broadband.
Target Audience of Reliance Jio
Reliance Jio majorly concentrates on the audience who are smartphone users. It provides the service of high-speed internet and great android mobile services. Jio targets the urban and two-tier middle and upper-class people. Jio works towards transforming India into a digital nation.
Jio, being the highest in the market strategizes its business model in a very significant and unique way. It has opted for the formula of ‘Unique Selling Point.’ This basically means Jio offering such unique and advantageous services to their customers that can not be resisted. This can be elaborate as when Jio launched the unlimited offer with a 4G server, people of India weren’t encountered 4G at all. And with such a unique offer, how can someone turn it down? And that’s what benefits the company of Reliance Jio.
Jio offers a broad range of customer-based features and services like high-speed Internet, free voice calls, unlimited texting, and many other. All these are developed to charge money from the customers. Its tariff plans are exclusively built to catch consumers’ eyes.
Jio has offered some very exclusive services to its customers with a fully served 4G network. Jio was the first to bring on the popularity and use of 4G network while other telecom companies were still working with 3G networks. And with this significant approach, Jio builds the biggest loyal customers base. People wanted more things in less price, Jio took the opportunity and provided them that. This unique strategy is what brought Jio where it is now!
What is unique about the business model of Reliance Jio?
Jio has opted for the most powerful and promising business strategies, which has surely brought great benefits and profit to it. Its business model is very simple, yet unique. The most unique thing about Jio is it offers free voice calls to its customers. According to statistics, only 10-15% of the Jio 4G network is used for calling while the other 85-90% is used for data. And when you have this amount of popularity and usage, paying a little price is always worth it. That’s what Jio does!
In this way, it attracts more and more customers to its services and creates a significant marketing buzz with free offerings. In all manner, it’s beneficial for the company.
How does Reliance Jio make money?
Reliance Jio generates its money from two major options- Charging extra per unit and selling more units. And as compared to other telecom companies, Jio sells way more of its units to generate more money.
For those who refer to Jio as a cheap telecom service provider, they are talking about its per-unit cost. But apart from this, the company charges its customers INR 154 for ARPU. And this amount is higher than any other telecom operator company.
So, the Jio customers are actually paying more for the cheap products. Jio does not provide the facility of paying just INR 10 per month as compared to other telecom companies. Jio majorly focuses on generating more money through all its plans.
With its incredible marketing strategy of generating money through Jio tariff plans that come in 4G network brings great profit for the company. Jio follows different pricing options and makes enormous customer deals.
They offer various applications, devices, and fiber services to multiply their revenue. This helps Jio to win numerous business verticals. And with such marketing strategies and development, Jio’s market value and position are unbeatable.
FAQs
What is the revenue of Reliance?
Reliance has a revenue of 7.27 lakh crores INR (US$100 billion, 2021).
Even during the pandemic, the net worth of many billionaires have been growing consistently. According to Forbes, the number of billionaires in the Forbes 35th list of the world wealthiest people, the number of billionaires have increased to 2,755, which was 660 more than a year ago.
Everyone knows that the richest person on the planet is Elon Musk with a net worth of $203.4 billion, followed by Jeff Bezos with $192.2 billion and Bernard Arnault & family with $185.8 billion, as of October 16, 2021. But do you know the top twenty richest people in Asia? According to Bloomberg Billionaire Index and the Forbes Billionaires List, the top 15 richest people in Asia, collectively account to over $500 billion.
The people in this list are self-made, big tech tycoons and real estate giants. The person who takes the top spot in the list of Asia is none other than India’s richest person, Mukesh Ambani who is the Chairman of the conglomerate, Reliance Industries Ltd. The other high profile billionaires from the continent are Jack Ma, Gautam Adani, Zhong Shanshan, Ma Huateng, Li Ka-Shing, etc. To find out who else made the top 20 according to Forbes.
Here is the list of the Top 20 Richest People in Asia.
1. Mukesh Ambani
Chairman/MD
Reliance Industries Ltd
Net Worth
US$100.6 billion (as of October 2021)
Industry
Energy, Telecom, Retail, Petrochemicals, Textiles and Natural Resources
Country
India
Age
64 (2021)
Mukesh Ambani
Mukesh Dhirubhai Ambani is an Indian Billionaire Businessman, the Chairman, Managing Director and the largest shareholder of the Reliance Industries Ltd., which is an energy and telecom multinational conglomerate.
Reliance Industries owns business across India and has its foothold in the industries such as energy, petrochemicals, textiles, natural resources, retail and even telecommunications. The company is also in the list of the Fortune Global 500 Company and is the country most valuable company as per its market value.
Ambani is credited for creating Jio, an affordable 4G phone service in India. The billionaire also owns an Indian Premier League team known as the Mumbai Indians and also has a property worth more than $400 million. As of 16th October 2021, Mukesh Ambani is the richest person not only in India but also Asia with a net worth of US $100.6 billion and is also the 11th richest person in the world. The head honcho of Reliance India Limited has joined the coveted club of billionaires with a fortune of at least $100 billion on 8th October 2021, Friday, following the rapid rise of the stocks of the conglomerate.
2. Zhong Shanchan
Founder/ CEO
Nongfu Spring
Majority stake holder
Beijing Wantai Biological Pharmacy Enterprise
Net Worth
US$71.6 billion (as of 28th May 2021)
Industry
Beverage and Pharmacy
Country
China
Age
67
Zhong Shanshan
Zhong Shanshan is a Chinese billionaire businessman, the founder and chairman of Nongfu Spring which is a popular beverage company in China and a majority stake holder of Beijing Wantai Biological Pharmacy Enterprise.
Nongfu Spring is a bottled water and beverage company that went public in September 2020, the company recently tripled its value to $85 billion. As of 16th October 2021, the net worth of Shangshan is $71.6 billion, making him the richest person in China, the 2nd richest person in Asia after Gautam Adani.
He became the second richest person in Asia due to the recent stock listing of Nongfu and also because Wantai Biological managed to tap into the high demand of Covid 19 kits. Zhong Shanshan is also known to have accumulated his wealth the fastest in history, according to Bloomberg.
Resources, Logistics, Energy, Energy, Defence, Aerospace, Real Estate, Financial, etc.
Country
India
Age
59 (2021)
Gautam Adani
Gautam Shantilal Adani is an Indian Billionaire Industrialist, the Founder and Chairman of the Adani Group. Adani Group is an Indian multinational conglomerate that has diverse businesses across the industries of resources, logistics, energy, energy, defense, aerospace, real estate, financial, etc.
Adani Group has an annual revenue of more than US $13 billion with operations in more than 50 countries. Adani is especially known for being a port developer and operator and is known for having the largest port in the country known as the Mundra port.
As of 2018, Gautam Adani has over 66% stake in Adani Ports & SEZ, 75% stake in Adani Enterprises, 73% stake in Adani Power, and a 75% stake in Adani Transmission. As of 16th October 2021, Gautam Adani has a net worth of US $75.20 Billion, making him the second richest person in Asia. He had recently overtaken Chinese bottled water producer, Zhong Shanshan in September 2021.
4. Robin Zeng
Founder/ Chairman
Contemporary Amperex Technology
Net Worth
US $50.70 billion (as of October 2021)
Industry
Automotive Li-ion Batteries, Energy Storage Systems, Battery Recycling
Country
China
Age
53 (2021)
Robin Zeng
Robin Zeng also known as Zeng Yuqun is a Chinese billionaire entrepreneur, the Founder and Chairman of Contemporary Amperex Technology (CATL).
The CATL is well known Chinese’s battery manufacturer and Technology Company that specializes in making lithium-ion battery for electric vehicles, battery management systems. Zeng is among the richest people in China and in Asia. With a net worth of $50.70 billion, he recently overtook Jack Ma, as per the reports dated October 16, 2021.
5. Ma Huateng
Chairman/MD
Tencent Holdings
Net Worth
US$49.10 billion (as of October 2021)
Industry
Technology
Country
China
Age
49 (2021)
Ma Huateng
Ma Huateng, also known as Pony Ma is a Chinese Billionaire Businessman, the Founder, Chairman and CEO of Tencent. Tencent is the continent’s most valuable company and one of the largest internet and Technology Company.
Besides , Tencent is also one of the biggest investment, gaming and entertainment conglomerate in the world known for developing China’s instant messaging app called WeChat. According to Time magazine Ma Huateng is one of the most influencial people in 2018, while Fortune also ranked him as among the top businessmen of the year in 2017.
The businessman wealth comes from the 9.7% stake in Tencent holdings. He is known to own properties in Hong Kong and art pieces that are worth over US $150 million. As of 16th October 2021, the net worth of Ma Huateng is US $49.10 billion, making him one of the richest people in China and the 5th richest person in Asia.
Zhang Yiming is a Chinese Billionaire Businessman and the Founder of ByteDance and developer for the news aggregator Toutiao and the world renowned video sharing platform TikTok. ByteDance is a Chinese multinational internet tech company known for developing video sharing and social networking sites like TikTok and Douyin.
ByteDance also developed an app known as Toutiao, which is a platform that delivers news content in various forms. As of 2018, ByteDance has over 800 million daily users across all its content platforms and has been valued at $250 billion as of 2021. According to Bloomberg billionaires index Zhang’s personal wealth is estimated to be around $44 billion.
Zhang Yiming stepped down from the position of CEO of Bytedance to embrace a new role within the company on 20th May 2021.
7. Jack Ma
Founder/ CEO
Alibaba Group
Net Worth
US$42.30 billion (as of October 2021)
Industry
Technology, E-commerce, Retail
Country
China
Age
56 (2021)
Jack Ma
Jack Ma is a Chinese billionaire businessman, the Founder and former Executive Chairman of Alibaba Group. Alibaba is a Multinational Technology Conglomerate that specializes in E-commerce, retail, technology and offers C2C, B2C and B2B sales, electronic payments, shopping search engines and cloud computing services.
Alibaba is the world largest retailers and e-commerce companies and has the 6th highest global brand valuation in 2018.Jack Ma was ranked 2nd in the Forbes list of the World 50 greatest leaders and is also a popular philanthropist as he has supported many underprivileged communities in China, Africa, Australia, and the Middle East.
As of 16th October 2021, the net worth of Jack Ma is US$42.3 billion making him a distinguished billionaire in China and the 7th richest person in Asia.
8. Li Ka Shing
Chairman
Li Ka Shing Foundation
Net Worth
US $31.80 Billion (As of October 2021)
Industry
Real Estate
Country
Hong Kong
Age
92 (2021)
Li Ka Shing is a Hong Kong businessman, an investor and well known philanthropist. He is the senior advisor and former chairman of the board for CK Hutchison Holdings and CK Asset Holdings. Li Ka Shing is 92 years old and is known to be the world leading port investor, developer and operator of the largest health and beauty and retailer in Asia and Europe.
According to Forbes Hong Kong Fortune league chart, Li Ka Shing became the richest person in Hong Kong in February 2021. Li is often regarded as “Superman li” by the Hong Kong media because of his business prowess, he also is the most influential entrepreneurs in the continent.
Li presides over a huge business empire that has its foothold in the industries such as transportation, real estate, financial services, retail, and energy and utilities. The billionaire is also a philanthropist that leads a simple life and has donated billions of dollars to charity and causes making him Asia most generous philanthropists.
As of 16th October 2021, Li Ka Shing net worth is over US $31.80 Billion making him one of the richest person in Hong Kong and among the richest in Asia.
9. He Xiangjian
Founder
Midea Group
Net Worth
US$31.70 billion (as of October 2021)
Industry
Consumer appliances
Country
China
Age
79 (2021)
He Xiangjian
He Xiangjian is the Co-founder of Midea Group, which is known to be one of the world’s largest appliance makers. Midea Group is electrical appliances manufacturer that has more than 200 subsidiaries.
The company is known for its products like lighting, water appliance, floor care, small kitchen appliance, laundry, cooking appliance and refrigeration appliances. According to Bloomberg Billionaire Index, Xiangjian was ranked the 44th place as his net worth was $32.7 billion in April 2021.
Media is also the world largest producers of robots and appliances which is why the company was also listed in the Fortune Global 500 since 2016. He Xiangjian stepped down from the company operation in 2012, but is still one among the richest in China and Asia with a wealth of $32.70 billion.
10. Lee Shau Kee
Founder/Chairman
Henderson Land Development
Net Worth
US $31.10 billion (as of October 2021)
Industry
Real Estate
Country
Hong Kong
Age
93 (2021)
Le Shau Kee
Le Shau Kee is a billionaire businessman from Hong Kong, real estate tycoon, founder and former chairman of Henderson Land Development. Henderson Land Development is a well known property conglomerate with stakes in property, hotels, restaurants and internet services.
The company’s main activities are property development, investment, project management, construction, hotel operation, finance, investment holding and infrastructure. The billionaire controlled over 70.17% of the share capital of the company as of 2015.
Kee stepped down from the position of chairman in 2019 at the age of 91 and passed the mantel to his sons. Le Shau Kee is one of the richest people in Hong Kong and in Asia. His net worth is estimated to be $31.10 billion, as of 16th October 2021.
11. Colin Huang
Founder/ CEO
Pinduoduo
Net Worth
US$31.10 billion (as of October 2021)
Industry
E-commerce, Agriculture
Country
China
Age
41 (2021)
Colin Huang
Colin Huang also known as Huang Zheng is a Chinese billionaire businessman, the Founder and CEO of Pinduoduo. Pinduoduo is a leading E-commerce and the largest agriculture-focused technology platform in China. Pinduoduo’s main objective is to connect farmers and distributors directly with the consumers and provide an interactive shopping experience.
Over 600,000 merchants have sold their produce through the platform with more than 12 million farmers supplying their fruits and vegetable to the merchants. According to Bloomberg, the platform has over 628 million customers and made $4.2 billion in 2019. Huang has also founded two other popular internet based companies known as Xinyoudi (a gaming business) and Ouku.com (an e-commerce platform).
The businessman has grown his wealth steadily in the recent years, climbing the global ranks from number 94 in 2019, to number 57 in 2020, and then 21. As of 16th October 2021, Colin Huang net worth is US$31.10 billion, which makes him the one of the richest people in China and the 11st richest person in Asia.
Tadashi Yanai is a Japanese Billionaire businessman, the Founder and President of Fast Retailing. Fast Retailing is public Japanese retail holding company that owns more than a 1000 stores. The company owns popular Japanese subsidiaries like Uniqlo, J brand, Comptoir des Cotonniers, GU, Princesse Tam Tam and Theory.
He is also the biggest shareholder of Asia’s largest clothing retailer known as Uniqlo. According to Bloomberg Billionaire Index, Tadashi Yanai became the richest person in Japan and the 34th richest person in the world, as his net worth was estimated to be $42.billion as of April 2021.
However, as of 16th October 2021, the billionaire’s net worth is US $32.5 billion, making him the richest person in Japan and among the richest in Asia.
13. Ding Lei
Founder/CEO
NetEase
Net Worth
US $29.8 billion (as of October 2021)
Industry
Technology
Country
China
Age
49 (2021)
Ding Lei is also known as William ding is a Chinese Billionaire businessman, the Founder and CEO of NetEase. NetEase is Internet Tech Company known for its services like content, community, communications and commerce. The company also develops online PC and mobile games, advertising services and e-commerce platforms in China.
NetEase is one of the largest internet and video game companies in the world. Besides gaming, NetEase works with other online media entertainment like movies and music. Ding Lei is known to have made many contributions to the development of computer networks in China, while his company work with Blizzard Entertainment and Microsoft subsidiary Mojang.
According to Bloomberg, the net worth of Ding Lei as of 16th October 2021 is $29.8 billion, making him one of the richest people in China and in Asia.
14. Wang Wei
Founder/Chairman
SF Express
Net Worth
US $28.8 billion (16th October 2021)
Industry
International express delivery and logistics services
Country
China
Age
50 (2021)
Wang Wei is a Chinese billionaire businessman, the Founder and Chairman of SF Express. SF Express is a multinational express delivery services and logistics company. The company is the 2nd largest courier in China as it provides domestic and international express delivery.
It is also known for the SF Airlines which has a fleet of 50 cargo aircrafts. SF Express began in 2009 and has transported more than two million tonnes of cargo till 2018. This is why the SF Express is known as the “Fedex of China.”
As of 16th October 2021, the net worth of Wang Wei is US $28.8 billion, making him one among the richest people in China as well as in Asia.
15. Takemitsu Takizaki
Founder/Chairman
Keyence
Net Worth
$28.5 billion (as of October 2021)
Industry
Technology
Country
Japan
Age
75 (2021)
Takemitsu Takizaki is a Japanese bilionaire businessman, founder and chairman of Keyence. Keyence is a well-known manufacturer of automation sensors, vision systems, barcode readers, laser markers, measuring instruments, and digital microscopes.
The company has many big brands as its clients Toyota, Toshiba, and Volkswagen. Takizaki stepped down as the company chairman but still has a net worth of $28.5 billion, as of 16th October 2021, making him one of the richest people in Japan and Asia.
16. Masayoshi Son
Founder/ CEO
Softbank
Net Worth
US$28.20 billion (as of October 2021)
Industry
Investment
Country
Japan
Age
63 (2021)
Masayoshi Son
Masayoshi Son is a Japanese billionaire entrepreneur, the Founder and CEO of SoftBank and also the chairman of the UK based Arm Holdings. Softbank is a well-known Japanese multinational holding company that operates in the areas of broadband, fixed-line telecommunications, e-commerce, internet, technology services, finance, media and marketing, semiconductor design, etc.
The company was also ranked 36th in the list of Forbes Global 2000. Masayoshi Son’s net worth is estimated to be $28.2 billion as of 16th October 2021, making him the one of the richest people in Japan and the 16th richest person in Asia. Masayoshi was also ranked as the 45th in the list of Most Powerful People, according to Forbes.
Country Garden Holdings and Bright Scholar Education Holdings
Net Worth
US $27.3 billion (as of August 2021)
Industry
Real Estate
Country
China
Age
40 (2021)
Yang Huiyan
Yang Huiyan is a Chinese billionaire businesswoman, Property developer and a majority stakeholder of Country Garden Holdings, 70% of shares of the company were transferred to her by her father Yang Guoqiang in 2007.
The Country Garden is a property development company that constructs buildings and manages hotels in China, owned by Yang’s family. The company was ranked 147thin the Fortunes Global 500 list. Country Garden has more than 200 high-end township developments in countries like China, Malaysia, and Australia.
As of August 2021, Yang Huiyan’s net worth is estimated to be $27.3 billion, making her not only the richest woman in China but also the richest woman in Asia.
Qin Yinglin is a Chinese billionaire, founder and chairman of Muyuan Foodstuff. Muyuan is a popular pig breeding and distribution company that breeds and sells pigs and pork products. Qin is known to have started the company with his wife in 1992, and by 2019 the company made $3 billion.
The agriculture billionaire is known to be the “the country’s largest pig breeder in the world’s biggest pork market”, according to Forbes. Qin is famous as the world’s richest farmer. His net worth is estimated to be $25 billion, as of 16th October 2021. This makes him one of the richest people in China and in Asia.
Pang Kang is a Chinese billionaire businessman and the chairman of a popular food and beverage company known as Foshan Haitian Flavoring and Food Co. The company manufactures a wide variety of sauces and flavoring, it is also the largest manufacturer of Soy Sauce in the world.
Based in China’s Guangdong providence, the food company made $2.9 billion in 2019, within five years of its launch. Foshan also makes over 200 different condiments such as oyster sauce, hoisin, shrimp, vinegar, and chicken stock.
As of 16th October 2021, the net worth of Pang Kang is over $23.80 billion, making him one of the richest people in China and in Asia as well.
20. Li Xiting
Founder/Chairman
Shenzhen Mindray Bio-Medical Electronics
Net Worth
US $21.30 billion (as of October 2021)
Industry
Medical Electronics
Country
Singapore
Age
70 (2021)
Li Xiting is a Singaporean billionaire, Founder and former Chairman of Shenzhen Mindray Bio-Medical Electronics. Over the year the billionaire has been one of the pioneers in the world of healthcare. While his company is known to operate in 30 countries and have over 17 subsidiaries.
Mindray is known for its healthcare devices such as health monitoring systems, ventilators, defibrillators, anesthesia machines and infusion systems. According to Forbes, Li Xiting is the richest person in Singapore in 2020. As of 16th October 2021, the net worth of Li Xiting is $21.30 billion, making him the richest Singaporean and among the richest people in Asia.
Who are the top three richest people of the world?
The top three billionaires of the world are Elon Musk, with a net worth of $203.4 billion, followed by Jeff Bezos with $197.7 billion and Bernard Arnault with $193.2 billion, as of 16th October 2021.
Who are the top ten richest people of Asia?
The top ten richest billionaires of Asia are Mukesh Ambani, Zhong Shanchan, Gautam Adani, Robin Zeng, Ma Huateng, Zhang Yiming, Jack Ma, Li Ka Shing, He Xiangjian, Le Shau Kee.
Who are the other top people of Asia?
The other top billionaires of Asia are He Xiangjian, Ding Lei, Li Ka Shing, Yang Huiyan, Wang Wei, Pang Kang, Li Xiting, Qin Yinglin and Takemitsu Takizaki.
The popularity of Jio isn’t something hidden! We are well-familiar with the immense success of Mukesh Ambani’s Reliance Jio. After establishing its strong position in networking, Mukesh Ambani now aims for building an extremely advanced city near Mumbai, the Megacity. The city is expected to have great features and be entirely modern.
Currently, Mukesh Ambani, and the team are working on the blueprint of the company. This megacity is set with an approx. investment of $75 billion in the upcoming decade.
This project has been approved by Reliance Industries (RIL) which is acting as the special planning authority. Reliance Industries will be managing this project and also, supervise the administration of the city. This project will be cutting out the red tape, transaction time, and cost of the project.
This megacity includes the territory owned by Navi Mumbai Special Economic Zone (NMSEZ), which is around 4,300 acres. This specific land connects with the Jawaharlal Nehru Port Trust and to the construction of the new airport project.
By March 2021, Reliance Industries signed a mutual memorandum understanding with the NMSEZ on the land lease contract and also, the development rights with the preliminary payment of Rs. 2,180 crores.
The project, Megacity, is set up to achieve the immense goals of uplifting the urban infrastructure as being established by a private sector player for the first time in modern India.
Reliance Industries signed the official memorandum of understanding with the Maharashtra Government in order to formulate an economic center at a global level. This would further include the world’s top-notch integrated digital along with the services industrial areas in the form of a global alliance.
The concept of establishing a megacity near Mumbai isn’t a new idea by the Reliance Group of Industries. In fact, when we dug up some history behind this project, it was discovered that it was the dream of Dhirubhai Ambani, the legendary founder of the Reliance Group of Industries.
Dhirubhai Ambani wanted to establish a city with the advancement of the World level, near Navi Mumbai. He first came up with this idea in the early 1980s, when he brought up a project for connecting South Mumbai with Navi Mumbai by road. This project was very well received and would have decongested Mumbai long ago.
Ambani began executing this project in 2005 when he allied with Nikhil Gandhi, founder of SKIL Infrastructure. Together they planned for the formulating an SEZ on mega Chinese SEZs lines. Nikhil Gandhi had been acquiring lands since early 2000. Many sources also mentioned the connection of Tata Group with the SEZ project, but this was eventually outwitted by Ambani who always wanted to work with SEZs.
Ultimately in 2018, the government of Maharashtra permitted the SEZs under Maharashtra Industrial Policy to migrate to various melded industrial areas for marking the available lands for industrial units. Later on, the Navi Mumbai SEZ (NMSEZ) applied for consent to modify the SEZ into the Integrated Industrial Area and received it as well, based on its policy.
This mega project, initiated by Ambani is expected to grow into an extremely successful project just like the remarkable success received by Reliance Industries with its several projects including the Jio and Jamnagar refinery. It would be Supreme, especially in terms of excellence and affordability.
As the government of Maharashtra has already approved the establishment of the Navi Mumbai sea link project that would connect South Mumbai directly to Larsen & Toubro and Tata Projects.
Alongside, the project of establishing a new airport by the GVK-led consortium. Both these projects will be running simultaneously and would offer the connection of industrial township, owning 15% of total land area for the residence and the rest for industrial purposes.
Ambani’s plan for the megacity project is very exclusive and advanced. He ought to build up a never-seen-before infrastructure, similar to its former Jio redux- which kept the whole of India wondering!
According to experts, this megacity project holds the potential to succeed like Reliance Jio, in an extraordinary phenomenon. This exclusive project by Reliance Industries will be opening new levels of transformation in the urban culture and its infrastructure, in India.
Moreover, this is expected to enrich the top real estate analyst, stating this project will lead to overturning migration. This is because the property prices in the megacity will be lesser than in Mumbai. That’s why people would seek more such openings!
Besides, the most intriguing part of this megacity project is that Reliance Industries will not only establish this city but also, work on its administration and also, govern it.
Reliance has been given the special planning authority license for embarking on this. Ambani would be cutting down the costs by eliminating the transaction time and red tape. More simply, this project aims to achieve drastic changes and modifications in the urban infrastructure.
Conclusion
Mukesh Ambani took towards Dhirubhai Ambani’s dream city, by working on a special project of establishing a megacity near Navi Mumbai. Ambani has fetched an investment worth $75 billion for this project.
As approved by all the authorities, Reliance Industries is working on the Blueprint, and soon, they will get on with the construction. This megacity project is functioning exclusively with massive advancement in the urban infrastructure in India.
This would be totally cost-effective and would present properties with affordable rates. Megacity is the initiative to build India with an abundance of technology and modern infrastructure. Stay tuned for more updates!
FAQ
What is the total investment of Mukesh Ambani’s megacity?
The project is expected to draw in as much as $75 billion in investments over the next ten years.
What is the location of Mukesh Ambani’s Megacity?
The megacity will be located in the in the vicinity of Mumbai.
There is no shortage of rich people all around the globe. Every day we hear the list lengthening. Also, every day a new name tops the list. The extravagant lifestyle, the desires of these people never come to an end. Among those, owning expensive things is another of their hobbies. Be it a luxury car, a yacht, a private jet, or an island. They never stop trying to expand their hands on anything that touches their heart. They are simply fond of spending money on things that the world looks up to. Therefore, entering into the world of sports, being the owner of a particular team brings them no less money and fame.
No matter what the world would be going through. Be it a pandemic, a financial crisis, or any sort of stress-laying situation. The domain of sports never stops entertaining people. Therefore, no doubt having a hand in that domain, along with others to compete would bring them a combo pack of fame and money. Lately, our earth is not doing so well. Despite this, entertaining and being entertained never stops. So here’s an eye-widening list of the richest sports team owners of the year, 2021.
Mukesh Ambani, an Indian tops the list among the richest sports team owners. He successfully stepped on the shoulder of Steve Ballmer, former CEO of Microsoft. He plays his moves on the field with the players of the team. While off the field he is the sole controller of Reliance Industries.
His cricket team, the Mumbai Indians are no less successful. He has managed to get his team to the same position in their arena that Mukesh Ambani himself holds outside the field. Taking into account the last recorded brand value, MI holds the highest with a net worth of 809 crores. The team itself has 5 IPL( Indian Premier League) trophies created in its lobby along with 1 runner-up prize. If summed up, it can be concluded that Mukesh Ambani with a net worth of 84.5 billion dollars, has a tight grip on his team and is well-deserving for the top position in this list.
Steve Ballmer – Los Angeles Clippers
Microsoft, the CEO of which, Steve Ballmer comes up second on the list. Owning a set of basketeers who go after the name of Los Angeles Clippers, he has a net worth of 68.7 billion dollars. He didn’t stop at ruling the software world. Rather also took a good hold on the sports industry. Funding his team from the earnings of his company, he also is no less behind Ambani.
Founded in 1970 the team has so far earned two division titles for two consecutive years. With its native arena at Staples center, the team has yet lots to achieve.
Daniel Gilbert – Cleveland Cavaliers
Daniel Gilbert, a very successful business tycoon. And also by far, the most excelled owner in this entire list. Cleveland Cavaliers, a basketball team from Cleveland itself. He provides funds to his team from the company he invested in, Quicken loans. With the pacing success of this company, Daniel also got a boost for himself glorifying his status.
His Cavs, founded in 1970 have 1 champion’s trophy, 5 conference titles, 7 division titles laying in their gallery. Quiet massive achievements to drown Daniel with extraordinary wealth and fame.
With a worth balance of 42.3 billion dollars, Francois Pinault and his family run this football team. With its home ground at Roazhon park, this team holds numerous titles worth admiring. It was founded in 1901. The funds for this team generate from the luxury goods that this family supplies.
Dietrich Mateschitz – Red Bull Racing
The world-famous, Red Bull energy drink.- the one which gives you wings. This billionaire businessman, Dietrich, holds 49% shares of this company. With 26.9 billion dollars accounts, he funds his formula one racing team, the red bull racing. This racing team with 313 entries has already won 70 trophies under its name.
Along with that Dietrich also owns a football team. The New York Red Bulls. Founded in 1994 this team has its arena, the red bull arena in New Jersey.
Robert Pera – Memphis Grizzlies
The Memphis Grizzlies, a team of basketball players from Tennessee. Owned by Robert Pera, this team is funded from wireless networking gear. It’s a worldwide technology company that Robert pera established in 2011. With a net worth of 18.3 billion dollars, Robert Pera is in the 6th position with his team on this list.
Steve Cohen – New York Mets
Next up is a renowned investor from America. Steve Cohen. With a total worth of 16 billion dollars, Cohen owns a baseball team that goes by the name, New York Mets. This major league baseball team is funded by Cohen’s hedge funds. Which gives him almost 97.2% ownership of this team.
Roman Abramovich – Chelsea FC
A politician cum businessman, Roman Abramovich, the owner of an investment company owns the world-famous Chelsea FC. With the profits gained from the investment of steel primarily Roman funds his team with total finance of 14.5 billion dollars. His team founded in 1905 has greatly contributed to his increasing bank balance. With numerous league titles and trophies, this club has also contributed to giving Roman 7th position in this list.
Joseph Tsai – Brooklyn Nets
Sitting on the 8th position in this list is a Taiwan-based businessman Joseph Tsai. He is the co-founder of Alibaba Group. His 11.6 billion dollars worth has pushed him to buy his basketball team. The Brooklyn Nets. Funding his team from the earnings of e-commerce, Tsai and his team have 2 champion’s trophies, 2 conference trophies, and 5 division titles signed to their name.
Philip Anschutz – Los Angeles King & LA Galaxy
At number 10 we have the Los Angeles King, an ice hockey team who has Philip’s hand on their heads. This businessman from America again, with a net worth of 10.1 billion funded from all sorts of industries including real estate, movies, railroads, and energy plants keeps his team running.
In addition to that the LA Galaxy, another soccer team also owned by Philip runs parallel with his ice hockey team. Owning two teams greatly contributes to increasing the revenue of his wealth.
Conclusion
It’s all calculated from the revenues of these billionaires that most of the gains they made were from these means. As stated earlier the investment in these areas comes with the minimum threat. Therefore why sit idle if you can play your card in these areas and end up wealthy? But competition always prevails. Tomorrow maybe this list will be laden with new names with huge net worth. We can only wait and watch how these billionaires use their billions.
FAQs
Who are the wealthiest owners of sports teams worldwide?
Mukesh Ambani
Steve Ballmer
Daniel Gilbert
Francois Pinault and Family
Dietrich Mateschitz
Robert Perra
Steve Cohen
Roman Abramovich
Joseph Tsai
Philip Anschutz
Which sports team owner is the richest?
Mukesh Ambani, the owner of Mumbai Indians tops the list among the richest sports team owners.
Which sports team is owned by Steve Cohen?
Steve Cohen owns baseball team, New York Mets.
Which sports team is owned by Steve Ballmer?
Steve Ballmer owns American professional basketball team “Los Angeles Clippers”.
The Wealth of Individuals during the Coronavirus Pandemic had seen an increase where the top 10 richest men in the world had earned a lot and increased their net worth during the year 2020. However, in India, the Super Rich has seen a dip in their net worth. Let’s look at the reason for it.
According to a report from Credit Suisse, the wealth of India’s super-rich has seen a dip of around 4.4% to USD 12.38 trillion in the year 2020. While the wealth of Mukesh Ambani, Adar Poonawalla, and Gautam Adani had seen a significant rise in their net worth, the overall wealth of the country’s super-rich had seen a fall in their net worth.
Reason Why the Super rich saw a dip in their wealth
One of the major reasons for the dip in the net worth of India’s super-rich is due to the rupee’s fall during the situation of Coronavirus Pandemic in the year 2020. According to the research by Credit Suisse, a research institute, the number of millionaires in terms of dollars had seen a fall of 6,98,000 in the year 2020 from 7,64,000 in the year 2019. This is only due to the fall in the value of the rupee.
The cumulative wealth had fallen to USD 12.38 trillion and saw a decline of around USD 594 billion from the previous year.
India is considered to be a home for the Super-rich as around 1% of the global rich are Indians. Even amidst the pandemic, the number had seen a rise of around 5.2 million to reach 56.1 million. AS per the report by 2025, the number of millionaires in India is expected to see a rise to 1.3 million which is around 81.8 % growth.
In the year 2020, every adult Indian had a worth of an average of USD 14,252 in the year 2020 which has seen an annual growth over the years of around 8.8% from the year 2000. India has seen much better growth while compared to the global average that is around 4.8 %.
In India, there were around 4,320 ultra-high net worth individuals who had a net worth that was more than USD 50 million.
Did the Global Wealth got Affected
While looking at the Global Wealth it has seen an increase of around USD 28.7 trillion to reach USD 418.3 trillion. The Wealth had seen a dip in the first quarter of 2020 of around USD 17.5 trillion. As of now, adults require more than USD 1 million to be in the top 1 % which has seen an increase from USD 988,103 in the year 2019.
When it comes to the rich, the Ultra High net worth individuals had seen a growth in their wealth by adding more members to the group. Around 24 Ultra High Net worth individuals were added to the group in the year 2020.
According to the economists from Credit Suisse, the creation of wealth in the year 2020 was largely immune to the challenges that were faced by the world due to certain actions taken by the Government and Central Banks to reduce the impact of the pandemic on the economy.
However, with regards to the transient effect on worldwide business sectors, the pandemic unleashed ruin in the principal quarter of 2020 as $17.5 trillion was lost from complete worldwide family abundance in between January and March of 2020. In any case, by June-end share costs started to take off and it arrived at record levels by year-end.
Eventually, $28.7 trillion was added to worldwide family abundance during the year, taking the total worldwide abundance up by $28.7 trillion to $418.3 trillion, the report said.
Wealth per adult has seen a rise of over 6 % in order to reach another record of USD 79,952. However, it is found that the countries that have been affected the worst from the Coronavirus Pandemic have not been a lot affected in terms of the creation of wealth.
FAQ
How many millionaires are there in India?
India has around 759 thousand millionaires.
Who is the youngest billionaire in India?
Nikhil Kamath, the co-founder of Zerodha is India’s youngest billionaire at the age age of 34.
How many billionaires are in India?
India ranks third in most number of billionaires with 140 billionaires in the country.
The 44th AGM of Reliance Industries was conducted on 24 June 2021. The company had mentioned certain key points that they undertook during the Coronavirus pandemic such as contributing to oxygen. Reliance boasts of producing 11% of the country’s liquid oxygen that is the highest by any company, gave around 7.5 crore free meals, set up 116 vaccination centers in 109 cities across the country, and also conducted the largest corporate vaccination drive for its employees.
Other than these the Chairman of the company, Mukesh Ambani had also discussed various projects that the company will undertake in the coming future. Let’s look at the projects and the details about them.
One of the major key takeaways from the Annual General Meeting of Reliance is its clean energy business. The company has stated that it would invest around INR 75,000 crore in a new clean and green energy business over the phase of the next 3 years.
Another takeaway is about the partnerships of Jio and the introduction of a new phone under the brand Jio with the collaboration with Google. The company also announced the launch of Jiomart, where it will collaborate with Facebook.
Mukesh Ambani on Green Energy Project at Reliance AGM
On the 44th Annual General Meeting of Reliance the chairman of Reliance Industries, Mukesh Ambani has announced to begin the work on developing a clean energy project which is the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, which will be a 5,000 acres project.
The company had announced that it has a target to reach a net-zero carbon company by 2035, where 60% of the revenue that is earned by the company is through hydrocarbon-fueled energy operations, as per the reports of the recent financial year. While compared to other players in the industry 2035 is a relatively shorter time frame where the major players such as BPCL, Royal Dutch shell, and many others commit to reaching the target by 2050.
He said that the company has started working on the Giga Complex, which is expected to be one of the largest renewable energy integrated manufacturing facilities in the entire world. The Giga complex will contain a solar manufacturing unit, battery factory for energy storage, fuel cell making factory, and an electrolyzer unit which will be used to manufacture green hydrogen.
The company also has plans to build for other Giga factories in order to integrate and manufacture all the components that are required by the new energy system, which include solar photovoltaic module factory, energy storage battery factory, fuel cell factory, and electrolyzer factory.
The company is expecting to create an end-to-end renewables energy ecosystem and announced that it would invest around INR 60,000 crores in these 3 initiatives and the rest INR 15,000 crores will be invested into partnerships, future technologies, and value chain, and also upstream and downstream businesses.
Ambani had also conveyed that the company will invest in building two additional divisions to strengthen this ecosystem. There will be a dedicated renewable energy project management and construction division and a dedicated renewable energy project finance division.
Reliance also aims to set up a 100 GW solar energy by the end of the year 2030.
JioPhone Next will be developed through a partnership with Jio and Google and will be released as a Made in India phone. The smartphone will be powered through an optimized version of the Android platform, which will be especially developed for the JioPhone Next.
JioPhone Next
The smartphone will be a 4G enabled smartphone and will enable the users to use the phone in their preferred language. The phone is expected to deliver a great camera quality and even the latest updates on the Android features and the security updates.
JioPhone Next will contain all the major features such as Google Assistant, language translation, automatic read-aloud of screen text, smart camera with augmented reality, and much more. The smartphone is expected to be released in the market during the time of the Ganesh Chaturthi festival.
The JioPhone Next is considered to be the most affordable 4G phone in the country and the entire world.
The company has plans to make India a 5G-must nation by the introduction of 5G into the country. The company has a 100% homegrown 5G solution where the company can roll out a 5G network in the country through a standalone position.
The Jio 5G solutions have successfully provided over 1GB per second during the trials that were conducted using the 5G network. Ambani has conveyed that the company has received 5G approval from the regulators and also trial spectrum for 5G field trials.
Google Cloud and Jio partnership announcement at Reliance AGM
Mukesh Ambani had announced the partnership of the company with the Google Cloud services in order to power the 5G services and network of Jio. Google will provide an end-to-end cloud offering that will power the automated lifecycle management of Jio’s 5G network and services.
In addition to this, to address the business challenges faced by the industries, both the companies will collaborate to bring a 5G edge computing solution.
The services of Jio’s 5G network, software, and Google cloud’s innovation in AI and ML will be explored in the new sectors such as gaming, healthcare, video entertainment sectors, and education. Jio and Facebook
The company has united the initial stage of JioMart with Facebooks’ WhatsApp and has provided encouraging results and valuable feedback by the company. Currently, the company is working on developing a full new commerce solution that will link the consumers and merchants. All these plans are expected to be implemented and launch over the next few quarters.
Jio and Microsoft partnership announcement at Reliance AGM
The company has also partnered with Microsoft in order to launch a 100 MW capacity of Jio-Azure cloud data centers in two cities of the country – Nagpur, and Jamnagar. The company is currently onboarding a group of customers for testing the product and service.
Over the coming quarters, the company has plans to expand the data center capacity and offering the services to a growing number of SMEs and various other startups.
Conclusion
The main focus of the AGM was on the Green energy Giga factory that will be set up by the Reliance Industries. In the year 2016 the company had launched Jio in order to bridge the gap in the country in relation to the Digital divide and in the year 2021 the company is launching its clean energy business in order to bridge the gap in the green energy division.
FAQ
What is Reliance AGM ?
Reliance AGM is annual general meeting held by Reliance industries where the chairman of Reliance Industries, Mukesh Ambani announces future projects and partnerships of Reliance.
What is the Revenue of Reliance Industries?
The Revenue of Reliance Industries is ₹540,000 crore (US$76 billion) in 2021.
What is net worth of Mukesh Ambani?
The net worth of Mukesh Ambani is 8,490 crores USD as of 2021.
The State Bank of India which is one of the largest Public Sector Banks in the country and is one of the leading banks of the country. The bank had tagged Reliance Infratel Limited which is a company under the Anil Ambani group as Fraud and has recently announced that the bank is withdrawing the tag. Let’s look at why SBI is removing the Fraud tag from the company.
On 9 June 2021, the State Bank of India had conveyed that they would choose to withdraw the tag placed on Reliance Infratel which is a Reliance company that comes under the Anil Ambani group which is a Reliance communications tower and Fiber company. The bank had filed an affidavit in NCLT Mumbai stating that they would want to remove the Fraud tag on the company.
Why did SBI tag Reliance Infratel as Fraud?
Reliance Infratel is a bankrupt company that owes a lot of debt in the market majorly to many other investors. The company has around 13 lenders and some of the claims from the investors include State Bank of India – INR 3,628. 68 crores, Syndicate Bank – INR 1,225.18 crore, Bank of India – INR 1,064. 82 crore and also from the Industrial and Commercial Bank of China (ICBC) – INR 1,832.91 crore. These are the major lenders of the company.
Apart from these, there were a lot of financial creditors the company owed money to. Since the company owed a lot of money and had also recorded bankruptcy the State Bank of India had tagged the company as Fraud.
The Reliance Industries Group which is owned by Mukesh Ambani had been a resolution partner for Reliance Infratel. Reliance Industries Reliance Projects and Property Management Service had been successful in being the resolution partner in the Corporate Insolvency Resolution Process (CIRP) and also won the right to acquire a 100 % stake in the shareholding of Reliance Infratel Ltd.
The resolution order was given by the NCLT which awarded the Reliance Infratel company to the Reliance Industries owned by the Mukesh Ambanias on 3 December 2020 but then SBI had already classified the company as Fraud on 10 November 2020 and later on SBI had withheld this information before the NCLT before it gave the order.
The Fraud tag being classified by the bank and withholding it from the NCLT is considered to be a grave error and the State Bank of India also did not upload the same on the CRILIC website for 45 days until 21 December 2020 which is considered to be against the norms and violating the principles. Later the bank also filed a complaint to the CBI on the directors of Reliance Infratel.
One of the major reasons for the removal of the tag was because after the complaint being filed to the CBI, Reliance Infratel had moved to the High Court of India on 6 January 2021 and got a stay regarding the actions taken by the State Bank of India.
The court also ordered the CBI to not to take any actions on the complaint filed by the State Bank of India. Later on, the State Bank of India had moved towards withdrawing the Fraud tag which it had posted against Reliance Infratel by filing an affidavit in order to declassify it before the NCLT Mumbai.
Resolution plan of Reliance Infratel and Reliance communication
The dedicated insolvency court had provided a nod to the resolution plan of Reliance Infratel by providing 100 % shareholding towards Reliance Communication. The Reliance Jio Infocomm has received the permission to pick the tower and the fiber assets of the Reliance Infratel which is a bankrupt company.
Conclusion
It is said that the lenders are expected to take a 60 % of the 100% stake through the Asset monetization plan of the tower company. According to the plan provided by NCLT, the lenders are expected to recover an amount of INR 4000 crore through the resolution plan of the company.
FAQ
Who owns Reliance Infratel?
The Reliance Jio Infocomm received the permission from the court to pick the tower and the fiber assets of the Reliance Infratel which is a bankrupt company.
Why did SBI tag Reliance Infratel as Fraud?
Since the company owed a lot of money and had also recorded bankruptcy the State Bank of India tagged the company as Fraud.
Why did SBI Withdraw the fraud tag?
As the Reliance Industries Group which is owned by Mukesh Ambani had been a resolution partner for Reliance Infratel and has acquired a 100 % stake in the shareholding of Reliance Infratel Ltd, SBI had to withdraw the fraud tag.
Adani is a first-generation entrepreneur and is considered as one of the Indian Tycoons. He was born on 24 June 1962 and is an industrialist who is the founder and chairman of Adani Group. Adani group is a multinational corporation that is involved in a lot of businesses. The net worth of Gautam Adani jumped to $76.7 billion as he added an amount of $43 billion to it in 2021 according to the Bloomberg Billionaires List.
Adani Group is mostly involved in port development and operations in India and is located in Ahmedabad, Gujarat, India. The Group operates mines in India, Australia, and Indonesia. It supplies coal to countries in Southeast Asia, China, and Bangladesh.
Adani Group has made the largest investment in Australia surpassing any other Indian Company. It has also invested in Carmichael Coal Mine in the Galilee Basin, Queensland. In June 2019, Adani got permission to start work on the Australian coal mine after a 9-year wait.
Adani is the second richest person in India after Mukesh Ambani and in 2019 India Today ranked Adani as the third most powerful person in India.
In 2021 Gautam Adani has added billions to his wealth. He added the most amount of money compared to anyone else in the world. The net worth of Adani jumped to $76.7 billion as he added an amount of $43 billion to it in 2021 according to the Bloomberg Billionaires List.
All the stocks of Adani Group which are publicly traded have increased more than 50% in 2021. This increase in his net worth has made him the world’s richest wealth gainer in 2021. He has gained more wealth than Elon Musk and Jeff Bezos who have been got the world’s richest titles.
Reliance Industries Chairman Mukesh Ambani has added 8.1 billion wealth during the year which is comparatively lesser than Adani’s. Mukesh Ambani is the richest person in India and Asia. When looking at the wealth addition in 2020 Adani still added more wealth compared to Ambani.
Gautam Adani – Chairman and founder of Adani Group
Reasons for a surge in Gautam Adani’s Net worth
Adani group is a diversified company that has its presence in multiple businesses. Some of their businesses include renewable sources of energy or green energy, gas distribution, airports, ports and terminals, power transmission, and so on.
Stock Prices
One of the major reasons for Adani’s surge in his net worth is the rise of his stock prices. The company has around 6 companies that are listed on the stock exchange. As of 2 March 2021, the market capitalization of the Adani group was $80 billion.
Some of Adani’s publicly traded companies have provided a return of more than 90% this year. Adani Total Gas Ltd had provided a return of over 96% this year. The flagship Adani enterprises have provided a return of 90%. Adani Green Ltd had provided 500% returns in the previous year and this year it is up 12%.
Adani Transmission has provided a return of 79%, Adani Ports, Adani Power Ltd, and Special Economic Zones Ltd have provided a return of around 52% this year.
Adani has a 66% stake in Adani Ports and Special Economic Zones Ltd. 75% stake in Adani Enterprises Ltd, 75% stake in Adani enterprises Ltd and 73% stake in Adani Power Ltd. This huge rally in the stocks have increased his net worth.
Top 10 Richest Indians
Expansion of Gautam Adani’s Business
Adani is continuously expanding his corporation which is mostly made up of a number of diverse and unrelated businesses. It has been rapidly expanding its corporation by adding ports, airports, coal mines, and data centres in India.
Adani Ltd had plans to develop 1 Gigawatt of data centres in India and has signed a pact for it last year. The company had formed a 50:50 joint venture to provide data centre solutions in India. The joint venture was with global data centre operator Edge Connex which was during February 2021.
Sunil Chandiramani the founder and CEO of Nyka Advisory Services, said that Adani has been continuously expanding its business in areas from which he can quickly recover from market cycles.
He also added that now since the company has entered into providing data centres and businesses related to it, the group has shown their appetite in venturing into technology.
Story of Gautam Adani – The Founder of Adani Group
Gautam Adani Story
FAQ
Who is Richer Adani or Ambani?
Adani is the second richest person in India after Mukesh Ambani.
How did Adani become rich?
1988, Gautam Adani set up his trading company Adani Enterprises Limited. In the 1990s, he started operating Mundra Port, off the coast of the Arabian Sea. From there on, Adani expanded his business into the electricity, gas, real estate sectors.
What is Gautam Adani’s Net worth?
As of 2020 Gautam Adani’s Net worth is $25.2 Billion. and as of 2021, his net worth is $50 Billion.
Conclusion
Some of the biggest Wealth Gainers other than Adani during the year 2021 are Larry Page who has added $14.3 billion in net worth with a total net worth of $97 billion.
Sergey Bin who has added $13.8 billion in net worth with a total net worth of $94 Billion. Warren Buffet has also added $12.1 billion in net worth with a total net worth of $100 billion.
Larry Page is in the second position after Adani followed by Sergey Bin and Warren Buffet. Mukesh Ambani has added $8.1 billion and is in the 13th position with a total net worth of $85 billion.
There are a lot of billionaires in the world. Billionaires play a major role in contributing to the growth of a country and its economy by indirectly reducing unemployment and poverty.
Here is the list of the top countries with most number of billionaires and the top billionaires of that country.
The United States of America is a country which is located in the Northern America. The country is commonly as the United States or the U.S. The country has a population of around 331 million and ranks third in the most populated countries around the world.
According to the International Monetary Fund, the U.S GDP is around USD 16.8 trillion. For GDP per capita at PPP, the country is ranked sixth in the world and the ninth in the world for nominal GDP per capita.
United States have around 724 billionaires in the country. The top billionaires of the country are,
Jeff Bezos with a net worth of USD 177 billion. His main source of wealth is through Amazon.
Elon Musk with a net worth of USD 151 billion. The main source of wealth is through Tesla and SPACEX.
Bill Gates with a net worth of USD 124 billion. His main source of wealth is through Microsoft.
China
China is a country which is located in the Asian continent. The official name of China is People’s Republic of China. China has a population of around 1.4 billion and it ranks 1st in the world for the most populated country. China is also world’s 3rd or 4th largest country by area.
In terms of nominal GDP since 2010 China has the world’s second largest economy. According to World Bank in terms of Purchasing Power Parity GDP China’s economy has been the world’s largest since 2014. The nominal GDP of the country is around USD 13.5 trillion.
China has around 626 billionaires in the country. The top billionaires of China are,
Zhong Shanshan with a net worth of USD 68.9 billion. His main source of wealth is through Nongfu Spring. Nongfu Spring is a Chinese bottled water and beverage company.
Nongfu Spring Products
Ma Huateng with a net worth of USD 65.8 billion. His main source of wealth is through Tencent.
Colin Zheng Huang with a net worth of USD 55.3 billion. His main source of wealth is through Pinduoduo. Pinduoduo Inc. is an agriculture-focused technology platform in China.
India
India is also a country which is located in the Asian continent. India is officially known as Republic of India. India ranks second in the most populated country around the world and India is considered to be the most populated democratic country in the world. In terms of land area, India is the seventh largest country in the world.
The Indian economy in 2019 was worth USD 2.9 trillion nominally according to International Monetary Fund. India is the fifth largest economy by market exchange rates with around USD 11 trillion. India is one of the world’s fastest growing economies.
Shiv Nadar with a net worth of USD 20.4 billion. His main source of wealth if through HCL technologies.
Germany
Germany is a country which is located in the European Continent. It is officially known as Federal Republic of Germany. The population of the country is around 83 million and 357,022 square kilometers, it is the area which is covered by the country. Germany ranks second in the most populated country in the European continent.
Germany’s economy is a social market economy. Germany is considered to have a very low level corruption, high level of innovation and high skilled labourers. Germany ranks third in the world for exporting of goods. The country ranks 1st European continent for the largest economies and ranks fourth across the globe for the largest economies.
Germany has around 136 billionaires in the country. The top billionaires of Germany are,
Beate Heister & Karl Albrecht Jr with a net worth of USD 36.1 billion. Their source of wealth is through their family operated discount supermarket chain Aldi Sud.
The largest Aldi sud supermarket located in the world opens in the German Ruhr area
Dieter Schwarz with a net worth of USD 22.6 billion. The main source of wealth is through multinational retail grocery shops Schwarz Gruppe.
Susanne Klatten is the BMW heiress with a net worth of USD 21 billion. The main source of wealth is through BMW, Atlanta Nordex and SGL Carbon.
Russia
Russia is a country which is located in the European continent and is also known as Russian Federation. In terms of land area, Russia ranks 1 among the world’s largest countries. The land area Russia covers is around 17, 125, 191 square kilometers. The population of Russia is around 146.2 million which makes it the most populated country in Europe and the country ranks 9th in the most populated countries around the world.
Russia has an economy which is a transition of upper-middle income. The country is considered to have enormous amount natural resources. Their natural resources include oil and gas. Russia ranks 6th in the world in terms of largest economies by PPP GDP and ranks 7th in the world in terms of largest economy by nominal GDP. Russia’s GDP per capita by PPP is around USD 29, 485 as of 2021, according to International Monetary Fund.
Russia has around 117 billionaires in the country. The top billionaires of Russia are,
Alexey Mordashov and family have a net worth of USD 29.1 billion. Mordashov has the majority shareholding in the steel company Severstal.
Vladimir Potanin with a net worth of USD 27 billion. His main source of wealth is through metals.
Vladimir Lisin with a net worth of USD 26.2 billion. The main source of wealth is through steel and transport.
Hong Kong is a country that is situated in the Asian Continent. It is one of the countries which has a very high population around the world and a economy that is capitalist mixed service. The country has a very minimal intervention in the market by the government, low taxation and an international financial market that is well established.
Hong Kong has a nominal GDP of USD 373 billion which makes its economy 35th largest in the world. Hong Kong has around 71 billionaires in the country. The top billionaires of Hong Kong are,
Li Ka-shing with a net worth of USD 35.4 billion.
Lee Shau Kee has a net worth of USD 30.5 billion.
Henry Cheng and family with a net worth of USD 22.1 billion.
Brazil
Brazil is known as the Federative Republic of Brazil. In both Latin America and South America, Brazil is the largest country. The country also has the largest economy in Latin America and has the 7thlargest economy in the world.
Brazil has around 65 billionaires in the country. The top billionaires are,
Jorge Paulo Lemann with a net worth of USD 16.9 billion.
Eduardo Saverin with a net worth of USD 14.6 billion.
Marcel Herrmann with a net worth of USD 11.5 billion.
Canada
Canada is a country which is located in North America. It is the second largest country in the world. Canada has the 10th largest economy in the world. USD 1.73 trillion is the approximate value of the nominal GDP of Canada.
Canada has around 64 billionaires in the country. The top billionaires are,
David Thomson and family with a net worth of USD 41.8 billion.
Joseph Tsai with a net worth of USD 11.6 billion.
Tobi Lutke with a net worth of USD 9.8 billion.
United Kingdom
United Kingdom is a country that is located in the European continent. The country’s economy is a partially regulated market. In Europe, UK is the second largest economy after Germany and around the world UK has the 5thlargest economy.
UK has around 56 billionaires. The top billionaires are,
James Ratcliffe with a net worth of USD 17 billion.
Hinduja Brother with a net worth of USD 14.9 billion.
Michael Platt with a net worth of USD 13 billion.
Italy
Italy is a country which is located in the European continent. The economy of Italy is an advanced capitalist mixed economy. In the Eurozone, Italy has the third largest economy and worldwide it has the 8thlargest economy. The country is considered as the most industrialized nation.
Italy has around 51 billionaires in the country. The top billionaires are,
Giovanni Ferrero and family with a net worth of USD 25.2 billion.
Leonardo Del Vecchio and family with a net worth of USD 17.9 billion.
Stefano Pessina with a net worth of USD 13.4 billion.
Japan
Japan is an Island country which is located in the Asian continent. Japan is the 11th most populated country in the world. In terms of nominal GDP after United States and China, Japan has the 3rdlargest national economy.
Japan has around 49 billionaires in the country. The top billionaires are,
Tadashi Yanai with a net worth of USD 48.7 billion.
Masayoshi Son with a net worth of USD 34.9 billion.
Takemitsu Takizaki with a net worth of USD 32 billion.
Taiwan
Taiwan that is officially known as Republic of China is a country in the Asian continent. The country has been called Taiwan Miracle because of its quick industrialization and rapid growth. This was mainly during the latter half of the 20th century.
Taiwan has 47 billionaires in the country. The top billionaires are,
Wei Ing-chou who has a net worth of USD 7.2 billion.
Ying-Chiao who has a net worth of USD 7.2 billion.
Australia is officially known as the Commonwealth of Australia. It is a sovereign country located in the Australian continent. The 6thlargest country around the world is Australia. It is considered to be a wealthy country with a very low rate of poverty and high GDP per capita.
Australia has 44 billionaires in the country. The top billionaires are,
Gina Rinehart with a net worth of USD 14.8 billion.
Harry Triguboff with a net worth of USD 9 billion.
Anthony Pratt with a net worth of USD 6.8 billion.
South Korea
South Korea is officially known as the Republic of Korea. It is a country which is located in the east of the Asian continent. South Korea’s economy is a mixed economy and in terms of the nominal GDP South Korea ranks 10th around the world. It has a high-income economy which makes it a developed country.
South Korea has 43 billionaires in the country. The top billionaires are,
Jay Y Lee who has a net worth of USD 11.2 billion.
Kim Beom-SU who has a net worth of USD 7.6 billion.
Seo Jung-Jin who has a net worth of USD 7.4 billion.
France
France is known as French Republic. It is a country which is located in the European continent. In terms of PPP GDP France is ranked as the 10th largest in the world and is ranked 2ndlargest in the European Union in terms of PPP GDP. France’s economy is a diverse economy with a domination towards the service sector.
France has around 42 billionaires in the country. The top billionaires are,
Bernard Arnault with a net worth of USD 76 billion.
Francoise Betterncourt with a net worth of USD 49.3 billion.
Francois Pinault with a net worth of USD 29.7 billion.
Sweden
Sweden is officially known as the kingdom of Sweden. It is a country which is located in the European Continent. In terms of GDP, It is the 16th richest country in the world. A high standard of living is experienced by the citizens of Sweden.
Sweden has around 41 billionaires in the country. The top billionaires are
Stefan Persson with a net worth of USD 15.6 billion.
Hans Rausing and family with a net worth of USD 12 billion.
Jorn Rausing has a net worth of USD 8.7 billion.
Switzerland
Switzerland is officially known as Swiss Confederation. It is a country that is located in the European continent. Switzerland has lands in all the four sides of their border and hence called as landlocked country. Switzerland has a high-tech economy which is stable and prosperous. It has been ranked as one of the least corrupted countries around the world.
Switzerland has around 40 billionaires in the country. The top billionaires are,
Gianluigi and Rafaela Aponte with a net worth of USD 10.7 billion.
Guillaume Pousaz with a net worth of USD 9 billion.
Ernesto Bertarelli with a net worth of USD 8.6 billion.
Thailand
Thailand is officially known as the Kingdom of Thailand and was formerly known as Siam. The country is located in the Asian continent. Thailand is considered to be a newly industrialized country and is an emerging economy.
Thailand has 31 billionaires in the country. The top billionaires are,
Dhanin Chearavanont with a net worth of USD 18.1 billion.
Charoen Sirivadhanabhakdi with a net worth of USD 13.5 billion.
Sarath Ratanavadi with a net worth of USD 8.9 billion.
Spain
Spain is known as the Kingdom of Spain. The country is located in Europe. Spain has a capitalist mixed economy. They have the 14th largest economy around the world and 4th largest in the European Union.
Spain has 30 billionaires in the country. The top billionaires are
Amancio Ortega with a net worth of USD 81 billion.
Sandra Ortega Mera has a net worth of USD 6.7 billion.
Singapore is known as the Republic of Singapore. The country is located in the Asian continent. Singapore has a highly developed economy. The Singaporean economy is considered to be business friendly, innovative, dynamic and a free economy.
Singapore has around 27 billionaires in the country. The top billionaires are
Zhang Yongwith a net worth of USD 23 billion.
Goh Cheng Liang with a net worth of USD 21.7 billion.
Li Xiting has a net worth of USD 21.5 billion.
Turkey
Turkey is known as the republic of Turkey. The country is located in the European continent. Turkey is considered to have an economy that is upper middle-income. The country is considered as a newly industrialized country. Turkey is 20th largest around the globe in terms of nominal GDP.
Turkey also has around 27 billionaires in the country. The top billionaires are,
Erman ılıcak with a net worth of USD 3.8 billion.
Murat Ülker with a net worth of USD 3.7 billion.
Hüsnü özyeğin with a net worth of USD 2.1 billion.
FAQ
How many Trillionaires are there?
As of today, there are no trillionaires who live on earth.
Who is the wealthiest family in the world?
Walton Family – Walmart is the wealthiest family in the world with a Estimated net worth of $215 billion.
Is Kylie Jenner a billionaire?
Kylie Jenner, 23, was the youngest billionaire, but did not make the cut this year. In 2019, she was controversially named the youngest self-made billionaire in 2019.
Conclusion
These are the list of the top Countries with the most number of billionaires. Some of the other countries with the most number of billionaires are Israel with 17, Indonesia and Philippines with 15, Mexico, Norway and Malaysia with 12, Netherlands with 11, Austria and Ireland with 9, Czech Republic and Denmark with 8 and so on.
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