6
Mr Ambani this year unveiled an ambitious plan to invest $10 billion in clean energyMukesh Ambani added $3.7 billion to his net worth on Friday as shares of his flagship company surged after the tycoon doubled down on his clean-energy goals.
Asia's wealthiest person is now worth $92.6 billion, according to the Bloomberg Billionaires Index.
The tycoon is closing in on L'Oreal's Francoise Bettencourt Meyers at $92.9 billion, as both move closer to a rarefied group of men with fortunes of $100 billion.
Mr Ambani's jump was due to a surge in the shares of his Reliance Industries after he said the company will “aggressively” pursue production of cheaper green hydrogen. Known for disrupting businesses he enters, Mr Ambani's telecommunications unit has become the dominant player in the Indian market while his digital operation has expanded with backing from investors including Facebook Inc.
At the same time, Saudi Aramco is looking to acquire a stake in Reliance's oil refining business in a deal said to be worth as much as $25 billion.Mr Ambani this year unveiled an ambitious plan to invest $10 billion in clean energy, marking a new pivot for India's most valuable company.
The goal aligns with Prime Minister Narendra Modi's ambitions to combat climate change and slash imports into the world's third-biggest oil consumer. Reliance shares surged 4.1 per cent to a record in Mumbai Friday.(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
Business
Mukesh Ambani Races Toward World's Exclusive $100 Billion Wealth Club
Download Android App
Share in 
FullScreen CheckVideos
| Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021 |
Buy Our Merchandise (Peace Series)
- Details
- Category: Business
20