Mukesh Ambani beat Europe's wealthiest man, making him the world's fourth-richest person in the world today. The Reliance Industries Ltd.'s chairman is now worth $80.6 billion, after amassing $22 billion this year, according to the Bloomberg Billionaires Index.
Ambani now owns more wealth than France's Bernard Arnault, whose LVMH Moet Hennessy Louis Vuitton SE has suffered from customers curbing high-end fashion purchases.
Mukesh Ambani just behind Mark Zuckerberg
Ambani was already India's richest man. In recent weeks he beat big names in the competition such as —Silicon Valley titans such as Elon Musk and Alphabet Inc. co-founders Sergey Brin and Larry Page, as well as the 'Oracle of Omaha' himself, Warren Buffett.
Ambani had shot up by 10 spots on the Index since January as shares of his giant grew over 145% from Rs 867.82 in March. The company faced a slump in demand for oil due to the pandemic but was able to more than double after investments from Facebook and Google. Ambani's positioning on the index has become a matter of pride for India, as being in the top 5 is one the little-achieved stats by the country.
Those above Ambani, are above him by a large margin, in the third spot is Mark Zuckerberg at $102B, in the second spot is Bill Gates with $121B. The richest of course, is Amazon's Jeff Bezos at $187B. Ambani beat Bernard Arnault at $80.6B while the latter stands at $80.2B.
It's been noticed that Ambani has leaned towards e-commerce, with tech giants seeking to take a piece of India's fast-growing digital business. Google said last month it will spend $10 billion in the coming years to help accelerate the adoption of digital technologies in the world's second-most populous nation, Bloomberg reported.