Mukesh Ambani Faces Huge Loss With COVID-19

Mon Apr 06 2020 18:53:05 GMT+0530 (IST)

The deadly outbreak of the novel coronavirus has left a deadly impact on the stock markets worldwide resulting in the massive dip in the net worth of India’s richest man Mukesh Ambani to $48 billion.

This has resulted in a drop in his global ranking too. The Richest Man of India's place went down by eight positions in the market and he managed to secure the 17th position which is the lowest in recent times.
This data is provided by the Hurun Global Rich List 2020 which ranks the richest people as per their earning and brand value.  
"India's top entrepreneurs have been hit by a 26 percent drop in the stock markets and a 5.2 percent drop in the value of the rupee compared with the US Dollar. For Mukesh Ambani, it has been a perfect storm, with his wealth down 28 percent," Hurun Report India Managing Director Anas Rahman said.

Despite this, Amazon's Jeff Bezos managed to be the richest man in the world, who has a net worth of USD 131 billion, facing a dip of a mere 9 percent. Next to him its Bill Gates who saw a dip of 14 percent which is USD 91 billion.