• About
  • Contact
Monday, June 27, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Mukesh Ambani Overtakes Bernard Arnault & Becomes 4th Richest Person In World

Pritish raj by Pritish raj
August 8, 2020
in News
Reading Time: 2 mins read
A A
0
Mukesh Ambani Sports TeamNet Worth- Next Big Brand

Mukesh Ambani

  • Mukesh Ambani has soared past the richest man in Europe, Bernard Arnault making him the fourth richest person in the world.

Mukesh Ambani has soared past the richest man in Europe, making him the fourth richest person in the world.

According to the Bloomberg Billionaires Index, the president of Reliance Industries Ltd is now worth $80.6 billion, after raising $22 billion this year. That gives him a bigger pile of wealth than Bernard Arnault of France, whose LVMH Moet Hennessy Louis Vuitton SE has suffered faster from buyers curbing high-end fashion purchases than the company can cut costs.

India’s richest person has already surpassed some of the greatest tycoons in recent weeks — a list that includes Silicon Valley titans like Elon Musk and Alphabet Inc. co-founders Sergey Brin and Larry Page, as well as Omaha’s so-called Oracle itself, Warren Buffett.

Although a fall in demand for oil amid Covid-19 slapped the company with a massive energy empire, its shares more than doubled from a low in March as its digital unit earned billions of investments from firms including Facebook Inc. and Google.

Ambani has slowly been shifting his focus to e-commerce, with tech giants seeking to take a piece of India’s fast-growing digital business. Google said last month it will spend $10 billion in the coming years to help accelerate the adoption of digital technologies in the world’s second-most populous nation.

richest

Meanwhile, with LVMH shares down this year, Arnault has become the biggest loser among the world’s 500 richest people. His net worth has plunged $25.1 billion to $80.2 billion.

Wall Street giant Morgan Stanley has estimated that value of Reliance Retail Stands at approximately $29 billion, with expected sales contribution from the JioMart e-commerce company over the next three years.

In 2023, e-commerce is projected to account for 15 percent of core retail revenue figures, estimated at $19 billion, on the basis of which the valuation was based. Here the main retail sales exclude linking revenues (mobile recharges) and petro-retail, where British Petroleum has sold a share. The move comes as Reliance Retail tries to rope in strategic and financial investors for its telecom company after Mukesh Ambani’s record $20-billion fundraise.

Previous Post

India Is Second Largest User Base Of Zoom Says CEO Eric Yuan

Next Post

Patanjali Considers Bidding For Title Sponsorship Of IPL After Vivo Exit

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

20220627 152251 0000
News

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
images 9 17
Cryptocurrency

Christiano Ronaldo and Binance Announce NFT Partnership

June 24, 2022
Khaby Lame Tiktoker
Creators

Khaby Lame Becomes World’s Most Popular TikToker

June 24, 2022
Pine Labs Founder
News

Merchant Platform Pine Labs Acquires Fintech Infra Startup Setu for $70-75 Million

June 23, 2022
Ebay KO
Cryptocurrency

eBay Acquires NFT Marketplace KnownOrigin For An Undisclosed Sum

June 23, 2022
Cashify Founders
News

Cashify Raises $90 Million in Series E Round Led By NewQuest & Prosus

June 23, 2022
Next Post
Patanjali IPL Bidding- Next Big Brand

Patanjali Considers Bidding For Title Sponsorship Of IPL After Vivo Exit

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple Brands brand story Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding google Indian Crypto Startups Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Netflix NFT NFT Collection NFT India Non Fungible Tokens Ola OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad WazirX YouTube Zomato
check more news on that pages youtube converter, filme online 2022, filme porno mature, porno amatoriale, nxnxx.org, https://xvideosxnxx.org, https://xoxporn.net

Instagram

Follow Me!

Recent News

  • Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital
  • Christiano Ronaldo and Binance Announce NFT Partnership
  • Khaby Lame Becomes World’s Most Popular TikToker

Latest News

20220627 152251 0000

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
images 9 17

Christiano Ronaldo and Binance Announce NFT Partnership

June 24, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.