Kumar Mangalam Birla Networth, total assets and source of income Vodafone Idea Latest Update – After becoming the chairman of Vodafone Idea, Kumar Mangalam Birla’s wealth increased, know where the veteran businessman earns
Aditya Birla Group Chairman Kumar Mangalam Birla is very much in discussion about Vodafone-Idea these days. On Wednesday itself, he stepped down as the chairman of Vodafone-Idea. Kumar Mangalam Birla was elected chairman of Vodafone-Idea Limited, a new company formed after the merger of Vodafone and Idea, in August 2018.
Vodafone India and Idea Cellular were facing business woes after the arrival of Reliance Jio in 2016. In view of this, both the companies decided to get together and in 2018 it was realized. Even after this merger, the business situation of Vodafone-Idea could not be very good. The company started facing cash crunch after Adjusted Gross Revenue (AGR) dues came to light. Vodafone Idea is continuously incurring losses. However, during this period there has been an increase in the assets of Kumar Mangalam Birla. Today we are going to tell about the change in wealth and net worth of Kumar Mangalam Birla after becoming the chairman of Vodafone Idea.
Birla was ranked 127th in the list of rich in March 2018 According to the Billionaires List of Forbes, Kumar Mangalam Birla had a net worth of $11.8 billion in March 2018. At that time he was ranked 127th in the list of the world’s rich. Birla became the chairman of Vodafone Idea Limited in the same year. However, in the next year i.e. March 2019, Birla’s net worth had come down marginally to $11.3 billion.
Huge fall in 2020: Kumar Mangalam Birla holds 27 per cent stake in Vodafone Idea. Last year, the company’s shares had fallen sharply after huge AGR dues. This also affected Birla’s net worth. Birla’s net worth had come down to $7.6 billion in April 2019. However, Birla’s net worth rose to $12.8 billion in April 2021, thanks to the outperformance of other Birla Group businesses.
Wealth increased but rank decreased According to Forbes, the total net worth of Kumar Mangalam Birla at present is $13.9 billion. Birla is ranked 157th in the list of the world’s rich. Kumar Mangalam Birla’s net worth has increased since March 2018 till now but his ranking has declined. The main reason for this is that the wealth of other rich people of the world has increased more.
Birla earns from these businesses: Apart from Vodafone Idea Limited, Kumar Mangalam Birla also earns from business related to cement, aluminum and financial services. After the death of his father Aditya Birla in 1995, Kumar Mangalam Birla took over the reins of the Aditya Birla Group at the age of 28. In 2020, Birla was ranked 14th in the list of India’s rich.
Birla Group was established in 1857: Birla Group was founded in 1857 by Seth Shiv Narayan Birla. Today, the Birla Group, through various subsidiaries, conducts a wide variety of business including Agribusiness, Carbon Black, Cement, Chemicals, Finance, Mining, Metals, Retail, Textiles. The subsidiaries of Birla Group are Grossim Industries, Vodafone-Idea Limited, Hindalco Industries, Aditya Birla Fashion & Retail, Domsjo Fabricer, Essel Mining & Industries Limited.
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