As we all know Mukesh Ambani is the pride of India and now Asia’s richest man has entered a new league of wealth.
According to the Bloomberg Billionaires Index, the net worth of Mukesh Ambani, chairman of Reliance Industries Ltd., has jumped to $64.5 billion. He overtook Larry Ellison of Oracle Corp. and France’s Francoise Bettencourt Meyers, the wealthiest woman, to reach the No. 9 spot.
Mr Ambani owns 42 per cent of Reliance and has benefited from a flurry of investment into the company’s digital unit, Jio Platforms Ltd., that Reliance said has made it net-debt free ahead of a March 2021 target.
Notably, even though other billionaires on the list have been hit by the impact of the coronavirus pandemic, Mukesh Ambani’s shares have doubled from a low in March.
Jayati Ghosh, chair of the Centre for Economic Studies and Planning at the Jawaharlal Nehru University, said that while the Indian economy “has been nearly decimated” during the lockdown to control the spread of Covid-19.”
A media representative for Reliance declined to comment on Mr Ambani’s fortune.