Asia’s richest man sells $9 million condo in New York City

Asia’s richest man, Mukesh Ambani has sold his $9 million residence in Manhattan’s West Village.

The fourth-floor condo is at 400W, 12^th St. Spanning 2,406 feet, the home features two bedrooms, 3 and a half baths and views of the Hudson River.

It also has 10-foot ceilings, herringbone hardwood floors, noise-proof windows and a kitchen for the chef. Residents of the Superior Ink condo apartments in the past have included Hilary Swank, Jimmie Johnson, Marc Jacobs and billionaire Leslie Alexander who paid $25.46 for his penthouse and sold it for $31.5 million to Mark Shuttleworth.

Amenities in the building include a residents’ lounge, a gym with yoga/Pilates rooms, a children’s playroom, a bike room, a concierge and valet parking. The 17-story building dates back to 1919.  

Recently, Reliance Industries Ltd sought shareholder approval to give Mukesh Ambani another five-year term as chairman and managing director until 2029. He has opted to draw a nil salary for his tenure.

Reliance Jio also received a $2.2 billion fund support from Swedish Export Credit Agency to finance equipment for the 5G rollout.

The telecom gears were procured from Swedish firm Ericsson and Finnish company Nokia to deploy its 5G network.

“The world is entering a new energy era, which is going to be highly disruptive. The age of fossil fuels which powered economic growth globally for nearly three centuries, cannot continue much longer,” said Ambani.

“We are switching to renewable sources of energy and newer energy technologies, while promoting the concept of a circular economy, especially for our petrochemical products. Sustainable business techniques are rapidly gaining momentum.”

Ambani said that going forward the company’s goal was to provide affordable green hydrogen as an alternative to traditional fuel.

High attrition rate

Nearly 41, 000 employees voluntarily resigned from Reliance Jio in FY23. Some 1,19,229 employees left Reliance Retail. The attrition rate at the conglomerate rose 64.8% from FY2022 to FY2023 in both Reliance Jio and Reliance Retail.

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