Mukesh Ambani has become the world fourth richest person, overtaking Europe’s wealthiest man.
According to Bloomberg Billionaires Index, Ambani, after gaining $22 billion, is now worth $80.6.
Reliance Industries Ltd’s chairman Ambani surged past 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” reported Bloomberg. Reportedly, Arnault has lost the most among the world’s 500 richest people, with his net worth plunging $25.1 billion.
This development comes after Ambani strode past some other big tycoons in recent weeks, including Elon Mask and Alphabet Inc co-founders Sergey Brin and Larry Page. He also recently overtook Warren Buffett, according to Bloomberg.
Ambani’s Reliance India Ltd saw no suffering amid the COVID-19 pandemic, owing to its digital unit receiving billions in investments from companies like Facebook Inc and Google.