The surge in Mukesh Ambani’s fortune this year was fueled by a 40% jump in the shares of his Reliance Industries Ltd.
Alibaba Group founder Jack Ma’s net worth grew $11.3 billion, while Jeff Bezos lost $13.2 billion It’s been a good year for Asia’s richest man, Mukesh Ambani. The Indian tycoon added almost $17 billion to his wealth as of December 23, the most in Asia, taking his net worth to about $61 billion, according to the Bloomberg Billionaires Index. In comparison, Alibaba Group founder Jack Ma’s net worth grew $11.3 billion, while Jeff Bezos lost $13.2 billion.
The surge in Ambani’s fortune this year was fueled by a 40% jump in the shares of his Reliance Industries Ltd., a conglomerate that’s pivoting more toward consumer offerings than its core oil refining and petrochemicals businesses. The rally in the stock is more than double the gains for India’s benchmark S&P BSE Sensex index during the period.
This story is from the February 2020 edition of Business Sphere.
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This story is from the February 2020 edition of Business Sphere.
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