Anil Ambani

Anil Ambani’s wealth shrinks by 73% to Rs 970 crore in six months

Industrialist Anil Ambani’s equity wealth has seen steep value erosion as it crashed by 73.43 per cent in the last six months to just Rs 970.10 crore ($ 136.6 million) on Wednesday, as against Rs 3,651 crore on June 11. At the peak of his fortunes in 2008, Ambani was ranked the sixth richest man in the world with a wealth of $42 billion. It is thus hard to believe that the value of Ambani’s equity– after excluding pledged shares–stands at just Rs 144.60 crore ($ 20.4 million). In 2018-19, some of India Inc’s most well paid CEOs such as AM Naik (chairman, L&T) and CP Gurnani (MD, Tech Mahindra) took home salary and benefits totaling that amount.