Mukesh Ambani crossed Europe’s wealthiest man to become the fourth richest person in the world. He is now having a net worth of $8.6 billion, after acquiring $22 billion in 2020. This has made him a richer person than France’s Bernard Arnault, who is LVMH Moet Hennessy Louis Vuitton’s Director. The latter had been in the fourth position until recently.
Ambani, who is India’s richest person, has already surpassed Elon Musk and Warren Buffet. His shares doubled after his shift in concentration after investing in the digital arena. His conglomerate has been shifting to e-commerce, and a lot of tech giants have invested in this business.
Ambani has jumped ten places on the Index since January as shares of his giant surged over 145% from a low of Rs 867.82 in March after the company got Zuckerberg onboard. Ambani’s appearance among top 5 billionaires is significant for a lot many reasons, mainly because since decades, the world’s five richest comprised a little-changed group dominated by Americans, one or two Europeans and occassionally a Mexican.
Meanwhile, with LVMH shares down this year, Arnault has become the biggest loser among the world’s 500 richest people. His net worth has plunged $25.1 billion to $80.2 billion.