Kumar Mangalam Birla lost $3 billion of wealth since Voda-Idea began sinking
The wealth of Kumar Mangalam Birla has been affected due to the financial distress Vodafone Group Plc's India venture. The net worth of Birla has decreased from $9.1 billion 2 years ago to $6 billion this year. There is cutthroat competition in the phone services market in India and Birla is the latest Mogul in the industry to get affected in that. Last week Vodafone-Idea witnessed the worst loss in the Nation's corporate history.