Ambani's assets reach $ 100 billion: Employees' pay rises

Technology 2021-09-08

newsteamz_Ambani's assets reach $ 100 billion: Employees' pay rises
  • Chairman Mukesh Ambani's total assets have soared to $ 100 billion following the sharp rise in shares of Reliance Industries Limited (RIL).

  • Reliance Industries employees have benefited the most from Ambani's assets growth.

  • The company has now announced a pay hike of 10 to 12 percent.

Chairman Mukesh Ambani's total assets have soared to $ 100 billion following the sharp rise in shares of Reliance Industries Limited (RIL). Reliance Industries employees have benefited the most from Ambani's assets growth. The company has now announced a pay hike of 10 to 12 percent.

Reliance had given bonuses to all employees in the financial year 2020-21 irrespective of the performance of the employees. Mukesh Ambani, India's richest man, currently has a net worth of $ 92.6 billion, according to the Bloomberg Billionaires Index. The jump in RIL shares has boosted Ambani's total assets to $ 15.9 billion this week.

Last year, Reliance had announced that it would cut the salaries of its employees due to the covid epidemic. However, the decision was later reversed and the full salary was paid. There was no increase in revenue last year. Reliance had slashed the salaries of top executives in its petrochemicals business by more than Rs 1.5 lakh in April last year by 30-50 percent.

However, in October, the reduced salary was returned with retrospective effect. The company froze last year because of covid, including pay rises and incentives in their other businesses.

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