- Mukesh Ambani of Reliance Industries Ltd. becomes the world’s fourth-richest person with his net worth at $80.6 million.
- He has already surpassed Warren Buffet, Elon Musk, etc
- Ambani amassed his wealth by diverging into e-commerce accompanied by the success of Jio
Reliance Industries Ltd.’s chairman Mukesh Ambani surged past European millionaire to become the world’s fourth-richest person. He is now worth $80.6 billion, making him wealthier than France’s Bernard Arnault, the chairman, and chief executive of LVMH Moët Hennessy – Louis Vuitton SE which is the world’s largest luxury goods company.
Mukesh Ambani amassed this wealth by slowly shifting his focus to e-commerce. With the extremely successful launch of Jio back in 2016, Reliance Industries has been on an upward tangent. Meanwhile, Arnault’s LVMH Moët Hennessy Louis Vuitton SE suffered from customers cutting back on high-end purchases faster than the company could cut back on manufacturing costs. Arnault was in fact this year’s biggest losers with his fortune plunging by $25.1 billion to $80.2 million.
India’s richest man Mukesh Ambani surges European millionaire, finds himself on the list of the world’s richest alongside Warren Buffet, Larry Page, Elon Musk