India's richest 100 in 2020: Collective net wealth still grows by 14% amid the pandemic
Difficult word explanation + Chinese and English control
Difficult to interpret
Plunge：n. Sudden drop/dip ☑️
Ascribe: v. Put... Attributed ☑️
Soar: v. Surge/Surge/Surge ☑️
Marquee: adj. Most important; most popular; outstanding ☑️
Reliance: n. Trust ☑️
Magnate: n. Giants/Tycoons ☑️
Unfazed: v. Don't be disturbed ☑️
Aspire: v. Aspire ☑️
Serum: n. immune serum ☑️
Brokerage: n. Brokerage firms ☑️
Patriarch: n. Elders ☑️
Aarti: (Altti) personal name ☑️
Listees：n. Listed people ☑️
debt-laden: Heavily indebted ☑️
India has been hit hard by the COVID-19 pandemic, with over 6 million cases ranking second highest in the world. And there are reports that India's economic growth fell by 24% in the june quarter. Although half of India's 100 richest people have reaped benefits in the face of adversity, and although the benchmark is the same as a year ago, its collective gain has grown by 14 percent to $517.5 billion.
More than half of the growth can be attributed to one person: Mukesh Ambani, who ranked first in 13th year, increased his wealth by $37.3 billion, a growth rate of 73%, and his net worth was $88.7 billion. During the national lockdown, Ambani raised more than $20 billion for the Jio platform from a range of prominent investors, including Facebook and Google, and his Reliance Industries stock price soared. Investors are now looking to Reliance Retail, which has raised more than $5 billion and recently made a major acquisition.
In second place again this year is infrastructure giant Ghettam Adani, whose net worth increased by 61 percent to $25.2 billion. Unmoved by the slowdown in travel caused by the pandemic, Adani aspires to be the king of India's airports by acquiring a 74 percent stake in Mumbai Airport, India's second busiest airport. Tech mogul Shiv Nadal ceded the chairmanship of HCL Technologies to his daughter Roshni Nadal Marhotra in July, jumping to third place with $20.4 billion as India's third-largest tech company soared.
With the global virus crisis raging, it's no surprise that pharmaceutical entrepreneurs are doing well. Vaccine billionaire Cyrus Bonawara's fortune grew 26 percent to $11.5 billion. Shares of listed companies that produce drugs to treat the virus have soared. The biggest gainer on the list was Biocon founder Kieran Mazumdar-Shaw, who is preparing to begin phase IV of the vaccine drug trial. His fortune nearly doubled to $4.6 billion.
But more than a third of the listed people are in decline in wealth, especially those interested in real estate. More than a dozen banks have closed this year, including Future Group founder Kishore Biani, who in August sold much of his debt-laden retail empire to Ambani's Reliance Retail Company.