In this age of high economic growth, it is not uncommon to hear of annual salaries of Rs 40 lakh. Some top executives and CEOs even earn that kind of money every month. But, every minute?
Hold your breath. In the last three months, Reliance Industries chairman Mukesh Ambani increased his wealth by roughly Rs 40 lakh every single minute. Thanks to the rapid rise in stock prices of his company, his wealth is a staggering Rs 2,20,463 crore or $55.8 billion.
The elder Ambani is also close to becoming the planet's richest individual. The men who staked their bets on businesses have come into incredible wealth.
A splurge by foreign investors combined with an unexpectedly good performance in the first quarter of the year saw the sensex soar by 3,000 points.
Delhi-based DLF's Kushal Pal Singh, the architect of Gurgaon, saw his wealth increasing by 51% to Rs 1,29,736 crore or $32.9 billion. His company shares listed on the stock markets only on July 5, just when increasing interest rates had dampened market sentiments. A spurt in the DLF stock price in the last few days has made KP Singh the second richest Indian, ahead of Anil Ambani.
The 10 richest people in India have seen their collective wealth increase by Rs 1,67,505 crore or $42.4 billion since July 1. That's twice as fast as the rise in their wealth in the first six months this year.
Since January, the wealth of India's 10 richest men shot up by Rs 2,57,813 crore or $65.3 billion. Anil Ambani is a close third, with the value of his personal stake in his group firms now at Rs 1,27,965 crore or $32.4 billion.
Source : TimesofIndia