Mukesh Ambani, chairman of Reliance Industries Ltd., is currently worth $80.6 billion, of which Ambani has made $22 billion so far this year, according to the index.
In recent weeks, Ambani has overtaken Tesla founder Elon Musk, Alibaba founder Jack Ma, Google co-founder Sergey Brin and Larry Page, and stock god Warren Buffett, and finally overtakes Bernard Arnault, the president of LVMH, a French luxury brand, once the fourth richest person in the world. With LVMHs share price falling this year, Arnault has become the biggest loser on the global 500 list, with his net worth plummeting by $25.1 billion to $80.2 billion.
Although the energy Empire has been hit hard by the downturn in oil demand caused by the epidemic, its share price has more than doubled from its march low as its digital business unit has been heavily invested by Silicon Valley technology giants.
For example, the company acquired $4.5 billion in financing from Googles platformos. In recent months, Reliance Industries has attracted nearly $20 billion in investment, with Facebook, Intel, Silverlake, KKR, vistaequity partners, general Atlantic, Mubadala and TPG as important investors.
As technology giants seek a piece of Indias fast-growing digital business, Ambani is slowly shifting its focus from energy to e-commerce. Google said last month it would spend $10 billion over the next few years to help speed up the application of digital technology in the worlds second most populous country.
Source: Wall Street news editor: Wang Fengzhi_ NT2541