Reliance Industries Chairman Mukesh Ambani has been one of the biggest wealth gainers in 2020. He is now worth $68.3 billion, surpassing Buffett’s $67.9 billion as of Thursday, since the present difference is just $0.4 billion between Ambani’s and Buffett’s fortunes, even a single-day’s stock movement can reverse the rankings next week. This week BP Plc paid $1 billion for a stake in Reliance’s fuel-retail business.
Thanks to Ambani’s deals, India has emerged as a hot spot for M&A this year, accounting for more than 12 percent of those announced in Asia Pacific, the highest ratio since at least 1998.
While, Ambani’s wealth doubled, he became the only Asian tycoon in the exclusive club of the world’s top 10 richest people last month surpassing Jack Ma in April after Facebook’s deal. Buffett’s fortune dropped this week after he gave away $2.9 billion to charity.