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Last Updated : Apr 23, 2020 04:10 PM IST | Source: Moneycontrol.com

Mukesh Ambani Asia's richest again, net worth up by $4.7bn after Facebook-Jio deal

Facebook acquired a 9.9 percent stake in Reliance Jio for $5.7 billion (Rs 43,574 crore), a deal that was announced on April 22.


Mukesh Ambani, the chairman of Reliance Industries (RIL), has again become Asia's richest person, following a deal between Jio and Facebook.

Facebook acquired a 9.9 percent stake in Reliance Jio for $5.7 billion (Rs 43,574 crore), a deal that was announced on April 22.

Also read: Exclusive | What does Jio-Facebook deal mean for their other startup investments?

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Ambani's wealth rose by $4.7 billion following the news, taking his net worth to 49.2 billion, according to the Bloomberg Billionaires Index. This places him ahead of Chinese billionaire Jack Ma.

According to the real-time ranking, Ambani is the 17th richest person in the world.

The transaction was Facebook's biggest bet since it acquired WhatsApp in 2014 and also its largest investment in India.

"Our partnership will be a great catalyst to make India the world's leading digital society," Ambani said in a statement.

Jio Platforms, Reliance Retail and Facebook's WhatsApp service have also entered into a commercial partnership agreement.

Catch our entire coverage on the Facebook-Jio deal here.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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First Published on Apr 23, 2020 11:51 am
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