Giving away free internet to 100 million subscribers hasn’t made a dent in Mukesh Ambani’s wealth


Image: EHRENZELLER/ EPA/ REX/ Shutterstock

Even as Indias richest boy made away “unlimited” 4G internet access to more than 100 million customers for six months, his personal wealth is still far from taking a dent.

Mukesh Ambani, the chairman and the executive director of Indias largest industrial mansion Reliance Industries Limited, added$ 6 billion to his personal wealth last year, according to Bloomberg Billionaires Index .

With 40 percent stake in Reliance Industries Limited, Ambani is the largest shareholder at the conglomerate.

Reliance Jio began commercial operations in India on Sept. 5. The 4G-only network has been offering tons of free data and access to a plethora of content services for free to all its subscribers.

In a price-sensitive marketplace such as India, Reliance Jio has been a runaway success. Reliance Jio has already found a place in top five Indian telecom operators with more than 100 million customers.

According to a report, the 59 -year-old Ambani had invested north of $20 billion in setting up the telecom operator and striking licensing deals for the bouquet of content.

The addition of$ 6 billion last year has upped Ambanis net worth to $28.7 billion. Joining him from India is steel mogul Laxmi Nivas Mittal, who added $1.5 billion last year. Pharmaceuticals baron Dilip Shanghvi added $1.9 billion to assume the third richest boy in India as of last year.

WATCH: When the internet moves out, there’s nowhere to hide

Read more here: http :// /