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Jio-Facebook deal: Mukesh Ambani trumps Jack Ma to become Asia’s richest man


Sneha Shah | Apr 23, 2020 20:37

Mukesh Ambani (left) and Jack Ma (right)

After Facebook invested $5.7 billion in Jio on Wednesday, Mukesh Ambani, Chairman, RIL, trumped Chinese billionaire Jack Ma, to become Asia’s richest man. According to Bloomberg Billionaires Index, Ambani’s fortune rose by $4.69 billion to $49.2 billion after the Jio-Facebook deal. Earlier in March, Alibaba’s Jack Ma had surpassed Mukesh Ambani as Asia’s richest man, after oil saw the biggest plunge in 29 years.

Ambani has said that the Jio-Facebook deal would be a milestone for the government’s ‘Digital India’ initiative. Ambani said, “The synergy between Jio and Facebook will help realise PM Modi’s ‘Digital India’ with its two ambiguous goals: Ease of living and ease of doing business, for every single category of Indian people without exception.”

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“In post-corona era, I am confident of India’s economic recovery and resurgence in the shortest period of time. The partnership will surely make an important contribution to this transformation,” he added.