- Follow --
1 of 1 parts
Mukesh Ambani once again Asia's Richest person
Mukesh Ambani once again Asia Richest person, dethrones Alibaba's Jack Ma after Facebook deal. Mukesh Ambani has reclaimed the title of Asia's richest person from Chinese tech entrepreneur Jack Ma, after adding Facebook to his friend's list. The Reliance Industries' Chairman saw his wealth swell by $4.7 billion on the Bloomberg Billionaires Index to touch $49.2 billion, whereas the Ma was left sitting at $46 billion. Mark Zuckerberg's Facebook on Thursday announced an investment worth $5.7 billion (Rs 43,574 crore) in Ambani's Reliance Jio for a 9.99% minority stake. Ambanis has seen his net worth tank a whopping 28% since the year began.
Equity markets reacted positively to the news of Facebook investing in Reliance Jio, helping the share price of Reliance Industries Ltd hit an upper circuit after jumping 10%. The oil-to-telecom behemoth added Rs 90,000 crore in terms of market capitalization on Wednesday alone. Analysts believe that the largest FDI investment for a minority stake will help Mukesh Ambani lead his Reliance Industries towards the goal of becoming a net-debt free company by next year. The investment made by Facebook is its biggest deal since it bought messaging application WhatsApp in 2014.
Globally, Mukesh Ambani has lost his spot in the world's top 10 richest people and now sits at the 17th spot ahead of MacKenzie Bezos and Jack Ma. The fall in Ambani's wealth has been attributed to the falling share price of Reliance Industries, which fell as much as 26% this year.
Facebook has pinned a value of Rs 4.62 lakh crore on Reliance Jio, putting it just behind the four most valuable listed companies - Reliance Industries Ltd; TCS; HDFC Bank; and HUL. The deal puts Ambani back on track to empower mom & pop stores across the country. "In the very near future, JioMart - Jio's digital new commerce platform - and WhatsApp will empower nearly 3 crore small Indian kirana shops to digitally transact with every customer in their neighbourhood," the Reliance Industries Chairman said in a video statement on Thursday morning.
Tooth Powder vs. Toothpaste: Which is Best!- How to Make Your Natural Perfume
- Major Mergers: BSNL and Tata Join Forces to Challenge Airtel and Jio
- How to Get Cheap Flights: A Travelers Guide
- Discovering the Best Wine Regions Around the World
- Travel Photography Tips: Capturing the World One Frame at a Time
Mixed Bag
- Fashion Trends: Pairing Trendy Shoes with Jeans
Jeans have always been a cornerstone of casual and chic fashion. Their versatility makes them a perfect match ...... - Recipe for Paneer Chilly with Jeera Rice
Paneer Chilly with Jeera Rice is a delightful combination that brings together the spicy and tangy flavors of ...... - How to Keep Your Car Clean from the Inside
A clean car interior is not just about aesthetics; it also ensures a more comfortable driving experience...... - Astrology and Shani Pooja: Understanding the Influence of Saturn
In the realm of astrology, every planet is believed to have its own set of energies that influence human life i......
Most Popular
Picture Gallery
Dare To Share
Want someone To control ME
I am a single mother and i take care of my kid about 50% of the time..so when it comes to a guy that i want physically..
Read More...- Freaked Out
''I was watching a movie in bed with a new guy I was seeing. Being a gum addict, I was chewing a piece...and fell asleep with it in my mouth.
Read More... - Deeply Devoted in LOVE
"I love my man so much. He is so good to me. He treats me with respect, makes me feel good about myself, and encourages me to go for my goals.....
Read More...
check outclick money scam review. Recently, new review of click money is posted on clickmoneyscam.com