iPhone | iPad
Android
Huawei
No loss of life and property was reported from any part of the province due to the earthquake
KT APPDOWNLOAD
Forbes rich list: How billionaire Mukesh Ambani reclaimed his spot as Asia's wealthiest
Photo: Reuters
Dubai - The RIL chief dethroned Alibaba’s co-founder and former executive chairman Jack Ma for the title.
Mukesh Ambani, chairman of Reliance Industries Limited (RIL), has once again claimed his spot as Asia's richest person.
ALSO READ:
>> Dh63 billion wealth: Telegram founder Pavel Durov is now UAE's richest person
>> Bezos, Musk top Forbes' billionaire list
The business magnate, who is also the richest person in India, ranked 10th on the recently-released Forbes' global billionaires list, with a net worth of $84.5 billion — a sharp rise from his net worth of $22.7 billion in 2016, when he placed #36 on the list.
In doing so, he has dethroned Jack Ma, Chinese investor and former executive chairman of e-commerce giant Alibaba, who was the richest person in Asia last year.
Ambani — who has diverse business interests from telecom to petroleum to retail — accomplished a fund-raising feat, mopping up $35 billion through a raft of deals to achieve his target of reducing his flagship RIL’s net debt to zero by 2021.
He sold a third of telecom unit Jio to marquee investors, such as Facebook and Google, and offloaded 10 per cent of Reliance Retail to private equity firms such as KKR and General Atlantic. He also concluded a $7.3 billion rights issue of RIL shares.
Ambani’s feat comes amid another Covid-19 wave sweeping across India, as total cases now exceed 12 million.
The total number of Indian billionaires rose to 140 from 102 last year, and their combined wealth has nearly doubled to $596 billion.
More news from Asia
On the eve of the 73rd Republic Day, the Ministry of Home Affairs stated that he would be conferred with the prestigious award
The country has never qualified for a World Cup tournament, but many youngsters still enrol in soccer academies in Lyari, hoping to take to an international pitch one day
Shehbaz Sharif lauds bravery of security guard who was wounded while saving life of envoy
The gruesome discovery of their bodies by the police is latest scandal to rock troubled Bureau of Corrections, which runs country's overcrowded prison system
It will be the first time that they are collaborating with countries beyond the United States on a major defence equipment project
Tomato, onion growers are in tears following price crash in the south Indian state
According to authorities, manual passes are now being issued to passengers