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Mukesh Ambani’s wealth beats tech giants Elon Musk and Google founders

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By: Bloomberg |

Published: July 14, 2020 3:16:37 pm





mukesh ambani, richest indian mukesh ambani, richest people, warren buffet, warren buffet richest man Mukesh Ambani (Photographer: Simon Dawson/Bloomberg)

India’s richest man Mukesh Ambani surged past Silicon Valley tech titan Elon Musk as well as Alphabet Inc. co-founders Sergey Brin and Larry Page to become the world’s sixth-richest person.

The chairman of Reliance Industries Ltd., whose wealth surpassed Warren Buffett’s last week, is now worth $72.4 billion, according to the Bloomberg Billionaires Index. Shares of the conglomerate have more than doubled from a low in March as its digital unit got billions in investments from companies including Facebook Inc., Silver Lake, and, most recently, Qualcomm Inc.

Ambani’s energy empire is slowly shifting to e-commerce, with tech giants seeking to take a piece of India’s fast-growing digital business. The world’s second-most-populous nation has seen a spike of foreign interest in its economy, especially from Silicon Valley, and Google said on Monday it will spend $10 billion in the coming years to help accelerate the adoption of digital technologies in the country.

After a drop in U.S. tech shares on Monday, Page’s fortune now stands at $71.6 billion, while Brin’s is at $69.4 billion and Tesla Inc.’s Musk is worth $68.6 billion. Buffett’s net worth dropped last week after he gave away $2.9 billion to charity.

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