Mukesh Ambani turns out to be Asia’s richest man after Reliance Jio-Facebook deal and beats Jack Ma by USD 3.2 billion
The Reliance Jio-Facebook deal which was announced on Wednesday, made Mukesh Ambani’s wealth surpass that of Jack Ma with USD 3.2 billion. Ambani’s riches made an upsurge from $4.69 billion to $49.2 billion after Reliance Industries gained 10 percent, as settled by Bloomberg Billionaires Index on Thursday.
Before the occurrence, Ambani faced a decline of $14 billion on the index in 2020. Both Alibaba’s group, as well as Reliance, were affected by oil’s massive fall in 29 years, however, Ma’s Alibaba recovered from the damage through their cloud computing services and mobile apps demands.
Mark Zuckerberg-led Facebook stated that they would push Rs 43,574 crore in Mukesh Ambani-led Jio Platforms Limited and will focus on collaborating messaging platform WhatsApp with Reliance Jio’s e-commerce venture JioMart which will give a kick start to the entrepreneurs and will have millions of Indian people and small businesses go online. Reliance Industries Chairman added that the collaboration will gradually fulfill the government’s ‘Digital India’ initiative and will help India’s economy to recover from the Corona pandemic.