Mukesh Ambani loses $2.5B after Reliance AGM; became the tenth-richest person

Held at the 43rd Ordinary General Meeting on Wednesday, shares of Reliance Industries fell four per cent on the Bahrain stock exchange, which reduced $ 2.57 trillion in Mukesh Ambani’s money.

Mukesh Ambani loses $2.5B after Reliance AGM; became the tenth-richest person

As a result, he is no longer the sixth richest person in the world. Ambani is ranked tenth on the list of global billionaires, with a net worth of $ 69 billion in the Bloomberg Billionaire Index.

Even with Reliance’s big card ads, Google invested $ 4.5 billion in Jio platforms, investors didn’t give a boost, and massive sales were created. The company suffered its second serious fall after its AGM in 19 years.

The agreement with Saudi Aramco made no progress under the original program due to the unexpected state of the energy market and the state of COVID-19. “We value our relationship with Aramco over two decades and are committed to long-term cooperation,” Ambanik said.

Mukesh Ambani loses $2.5B after Reliance AGM; became the tenth-richest person

Prior to AGM, Reliance shares rose 16.5 percent in one month.

The trust president has added an additional $ 10 billion this year to the injection of the $ 20 billion fund into Jio Platforms and the issue of RIL 53,100 for cruise rights issues.

This week, Tesla founder Elon Musk and Google co-founder Larry Page passed away. Wealth totaled $ 72.4 billion. Earlier, Ambanik also ousted Berkshire Hathaway President Warren Buffett following an agreement by RIL with fuel retailers with BP.

Reliance’s 43rd AGM dominated advertising related to Jio, JioTV + marketing and Jio Glass; possible road map for Jio 5G and JioMart; and the company’s collaborative efforts with startups and SMEs.

Moreover, RIL’s first virtual AGM was the platform recently created by JioMeet, three video conferencing platforms.

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