Sat. Nov 28th, 2020

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Ambani back on the throne

1 min read

Mukesh Ambani managed to save his status as the richest person in Asia due to the deal with Mark Zuckerberg’s Facebook Inc. buying 10% shares of Jio platforms.

Ambani’s wheel of fortune got him about $4.7 billion to $49.2 billion last day.

The jump put Ambani about $3.2 billion ahead of China’s Jack Ma, according to the Bloomberg Billionaires Index.

Ambani’s fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China’s Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant’s biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

 

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