Paytm is in loss, but Vijay Shekhar Sharma is getting richer
6 March 2019 11:44 PM GMT
Warren Buffett's Berkshire Hathaway is an investor in Paytm.
- His net worth has been estimated at $2.6 billion (Rs18,000 crore), ranking him 877 among the 2,153 on the magazine’s list released on March 06.
- Sharma is fortunate, since even some of the best-known Indian tycoons, like Reliance Group chief Anil Ambani, were not spared the turmoil of debt, losses, and wealth erosion during the year.
- Sharma debuted on the Forbes list in 2017, a few months after prime minister Narendra Modi’s government announced a move to withdraw high-value currency notes in November 2016.
- Since then, fortune has continued to favour him, as his businesses—which also include e-commerce (Paytm Mall) and payments (Paytm Payments Bank), besides Paytm itself—have attracted rich valuations.
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