Mukesh Ambani, chairman of Reliance Industries (RIL), has pipped Hong Kong’s Li Ka-Shing to become Asia’s second-richest person, according to the Bloomberg Billionaires Index.
Mr. Ambani’s wealth has jumped 54.8%, or by $12.5 billion, in 2017 to $35.2 billion as RIL’s market value has surged 48% this year buoyed by the introduction of Reliance Jio’s 4G mobile services and more recently a low-cost data-enabled handset. That has catapulted Mr. Ambani, who owns more than 40% stake in RIL, to 19 on the global rankings of the world’s wealthiest, from 29 at the end of 2016.
Read the full story at http://www.thehindu.com/business/Industry/ambani-rides-jio-to-lag-only-chinas-ma-in-asia/article19403604.ece
SOURCE: The Hindu
