Mukesh Ambani Becomes World’s 4th Richest Person

Mumbai: Mukesh Ambai has surged past Europe’s wealthiest man, making him the world’s fourth-richest person.

The Reliance Industries Ltd chairman is now worth $80.6 billion, after amassing $22 billion this year, according to the Bloomberg Billionaires Index. That gives him a bigger wealth pile than France’s Bernard Arnault, whose LVMH Moet Hennessy Louis Vuitton SE has suffered from customers curbing high-end fashion purchases faster than the company can cut costs.

India’s richest person has already surpassed some of the biggest tycoons in recent weeks — a list that includes Silicon Valley titans such as Elon Musk and Alphabet Inc co-founders Sergey Brin and Larry Page, as well as the so-called Oracle of Omaha himself, Warren Buffett, Business Standard reported.

While the Reliance conglomerate with a huge energy empire was slammed by a slump in demand for oil amid COVID-19, its shares have more than doubled from a low in March as its digital unit got billions in investments from companies including Facebook Inc and Google.

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