Ambani is now richer than Jack Ma of Alibaba Group and Ma Huateng of Tencent Holdings.<\/p>\n
Reliance Industries shares surged nearly 6% during trading on Thursday and nearly 1% today already. The company is now worth over $100B; the last time the company was this valuable was in 2008.<\/p>\n
The stock has dragged the S&P BSE Sensex for years until last March when its telecom unit, Reliance Jio Infocomm Ltd. decided to start charging for its services.<\/p>\n
Recall that Jio debuted in 2016 and made history when it gained 100 million users in just 170 days – about 7 customers per second after giving subscribers dirt cheap data and call services.<\/p>\n
Investors upped their price target for the stock after Ambani assured shareholders earlier this month that he has a fierce strategic intent which will position the company to take substantial e-commerce market share from big players such as Walmart and Amazon.<\/p>\n
Reliance Industries controlled by Ambani owns the largest refinery complex in the world. Ambani\u2019s 27-story residential house is estimated to cost around $1B billion according to some analyst familiar with the matter.<\/p>\n
It is made to withstand an earthquake with a magnitude of 8 on the Ritcher scale and this house often called Antilia is the second most expensive residential home in the world after Buckingham Palace.<\/p>\n
As of 1:36pm WAT, Ambani is worth $45.1B according to Forbes.<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"Forbes and Bloomberg now rank Mukesh Ambani as the richest man in Asia as shares of his reliance industries which he owns about 38% (according to a filing with Bombay stock exchange) has skyrocketed.\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":65,"featured_media":775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[476,57],"tags":[1164,1162,1163],"class_list":{"0":"post-772","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bs-business","8":"category-business-news","9":"tag-asia","10":"tag-mukesh-ambani","11":"tag-richest"},"jetpack_publicize_connections":[],"yoast_head":"\n