Mukesh Ambani, the chairman of Reliance Industries, has more wealth than Warren Buffett, the value investor known as the Oracle of Omaha. With this Ambani has risen to number one in the list of the richest people in the world. According to the Bloomberg Billionaire Index, Warren Buffett has a net worth of 67.9 billion while Mukesh Ambani has a net worth of 68.3 billion.
Mukesh Ambani’s wealth increased due to Jio:
Shares of Reliance fell nearly 50% in March this year and since then the company has raised about 15.15 billion by selling stakes in its digital communication arm Jio platforms. Due to this, the shares of the company were also very high which benefited Mukesh Ambani.Ambani’s wealth jumped after 10 giant private equity firms including Facebook, Silverlake, KKR have invested in the Jio platforms. In one year, Ambani’s wealth has increased by 64 9.64 billion.
Warren Buffett’s fortunes plummeted after he donated 37 billion USD from his company Berkshire Hathway last week for fighting Covid.