Mukesh Ambani Becomes the Richest Man of Asia

Mukesh Ambani replaces Gautam Adani as the richest man in Asia and India, owing to surging stock prices of RIL.

Highlights

  • Current overall net worth of the company is $104.3 billion.
  • Adani's net worth is $99.9 billion.
  • The company plans to acquire a 40% stake in Dream Plast.

Mukesh Ambani

Mukesh Ambani, chairman of Reliance Industries Limited (RIL) replaces Gautam Adani by bagging the tag of Asia and India's richest man, owing to surging stock prices of RIL.

Forbes Real-time billionaire list reveals that Ambani has bagged the sixth position with a 6.21% increase of $6.1 billion taking the overall net worth to $104.3 billion. On the other hand, Adani's net worth grew by 0.66% to $99.9 billion pushing him to the ninth position.

"The RIL stock has gained over 6% in the last five trading days with its market capitalization hitting Rs 19 lakh crore landmark. The company also continues with its acquisition spree," the ET reported. The ET further reported that the RIL and US buyout firm Apollo Global Management have merged to acquire Walgreens Boots Alliance Inc's International chemist and drugstore units, known as boots.

Despite investments in organizations like Hamleys, Clovia, MilkBasket, Urban Ladder and Haptik, the grand is also going to acquire 40% stake in Dream Plast, an Italy-based Plastic Legno's toy manufacturing business in India, and also invest in edtech startup Lido Learning, reported the ET.

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