Home Business Times Mukesh Ambani crawls up to become the 4th richest person in the...

Mukesh Ambani crawls up to become the 4th richest person in the world

Mukesh Ambani crawls up to become the 4th richest person in the world
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Mukesh Ambani, the chairman of Reliance Industries Ltd. is now worth about $80.6 billion after accumulating $22 billion this year according to Bloomberg Billionaire’s index. France’s Bernard Arnault, whose LVMH Moet Hennessy Louis Vuitton SE has suffered as customers have been cutting off purchase of high-end fashion purchases faster than the company could cut any costs.

Mukesh Ambani has jumped several positions leaving behind Bernard Arnault, Steve Ballmer – the American Businessman and investor, Larry Page – co-founder of Google and an American computer scientist, Sergey Brin – co-founder of Google, Elon Musk – CEO of SpaceX and Oracle of Omaha – Warren Buffett himself. The only three names featured ahead of Mukesh Ambani is Jeff Bezos – CEO of Amazon, Bill Gates – co-founder of Microsoft and Mark Zuckerberg – CEO of Facebook.

Since January, Ambani has jumped about ten places ahead of the index as his shares surged over 145% from a low of Rs 867.82 in March after Zuckerberg got onboard. Although his huge energy empire was slammed by a slump for the demand in oil during the Covid-19 pandemic, its shares have increased due to its digital units investment.

“We will spend about $10 billion in the coming years to help accelerate the adoption of technologies in the world’s second-most populous nation- India,” said Google.

Ambani has found his platform of interest by shifting his focus to e- commerce, with the technical guru’s seeking to take a space of India for the fast growing business in digital.

Written by Ompriya Sahoo

Image Source : Google

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