This is how Asia's richest man amassed a $53 billion fortune

[tacobell fan]

Mukesh and Anil Ambani began their careers as intimate collaborators, with once describing their approach as “two bodies, one mind.” But after the death of their father who founded Reliance almost five decades ago, they grew increasingly estranged.

[tacobell fan]

Read this if you have time:

https://www.bloomberg.com/news/features/2020-06-03/mukesh-ambani-won-the-world-s-most-expensive-sibling-rivalry

[tacobell fan]

Out of the entire article, here is the key-

Mukesh has also capitalized on some crucial regulatory decisions. In 2016, Amazon.com Inc. announced plans to pour an additional $3 billion into India, betting it could consolidate a fragmented retail landscape. Two years later, Walmart Inc. spent $16 billion to buy Flipkart, India’s largest homegrown e-commerce player. But just after Walmart announced its deal, the government unveiled stringent new rules on online retail, forbidding foreign companies from selling their own inventory. Instead, they’d be allowed to operate only as EBay-style platforms for others’ goods. Both Amazon and Walmart had to pull thousands of items from their virtual Indian shelves.

A few weeks later, Mukesh made his move. Appearing alongside Modi at an event in Gujarat, he announced that Reliance would enter the online shopping business, combining its vast retail network—it operates almost 11,000 convenience stores, clothing outlets, jewelers, and supermarkets—with a comprehensive e-commerce offering. The idea is for these locations, plus thousands of small shops Mukesh said the company would “empower and enrich” by signing them up as fulfillment centers, to comprise a physical footprint Amazon and Walmart can’t replicate. And as a domestic player, Reliance isn’t bound by the same restrictions on online inventory. Over the past two years, the company’s shares have climbed 60%, driving its market value to $124 billion. Reliance is now India’s most valuable corporation by a comfortable margin.

[tacobell fan]

Buoyed by his good fortune, Mukesh has come out of his shell, acquaintances say. For much of his career he avoided photographers and submitted to media interviews only grudgingly, fidgeting awkwardly on camera. Now he stays masterfully on message in interviews promoting Jio, and he’s a regular panelist at events such as the World Economic Forum and the Future Investment Initiative, Saudi Arabia’s “Davos in the Desert.” He and his wife, Nita, are increasingly the social anchors of high-society Mumbai. Before the pandemic struck, hardly a week went by without a major event at Antilia, their 27-story mansion in one of the city’s toniest districts. According to an acquaintance, Nita keeps an interior designer on the premises full time.

[Vaampire]

Anil own chesthunna sectors lo 10 yrs varaku digodhu ani agreement lekhapothey inko 10b ekkuva vundedi

[tacobell fan]

30 minutes ago, Vaampire said:

Anil own chesthunna sectors lo 10 yrs varaku digodhu ani agreement lekhapothey inko 10b ekkuva vundedi

Indirect ga invest cheyyadu ani guarantee ledu vadiki unna @kasi and @luck ki