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