Mukesh Ambani loses over Rs160000000000 within a day; here's the reason

Indian business tycoon Mukesh Ambani has suffered a major setback as he lost over Rs 160000000000 within 24 hours.

As per the Indian publications, the Indian capital market essentially remained under pressure during the entire trading session and ultimately resulted 2 percent decline in the share price of Reliance Industries, chaired by Ambani.

The fall in the share of the company resulted in a decline of over Rs 160000000000 (translating to $2 billion) in a single day.

Mukesh Ambani’s drop in fortune also affected the ranking he was holding in the list of billionaires compiled by Bloomberg.

As a result, the richest man in Asia slipped to the 15th position in the Bloomberg Billionnaires Index with a fortune of $102 billion.

Earlier, reports acknowledged that after a demolition of a Boeing-737 aircraft that turned into a private jet that cost approximately 150 million dollars, the chairperson of Reliance Industries and members of the family procured another aircraft.

This luxurious plane was modified in Switzerland including several customizable cabin features and seats 230. The design was further complemented by the gift to the Ambanis of the newest Rolls Royce Sikhs Ritz SUV priced at 1.3 million US dollars.