Mukesh Ambani, chairman of Reliance Industries, has become the fourth-richest person in the world. EPA
Mukesh Ambani, chairman of Reliance Industries, has become the fourth-richest person in the world. EPA
Mukesh Ambani, chairman of Reliance Industries, has become the fourth-richest person in the world. EPA
Mukesh Ambani, chairman of Reliance Industries, has become the fourth-richest person in the world. EPA

Mukesh Ambani surges past wealthiest European to become world’s fourth richest


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Mukesh Ambani has surged past Europe’s wealthiest man, making him the world’s fourth-richest person.

Reliance Industries’ chairman is now worth $80.6 billion (Dh293.6bn), after amassing $22bn this year, according to the Bloomberg Billionaires Index. That gives him a bigger wealth pile than France’s Bernard Arnault, whose LVMH Moet Hennessy Louis Vuitton has suffered from customers curbing high-end fashion purchases faster than the company can cut costs.

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

While the conglomerate with a huge energy empire was slammed by a slump in demand for oil amid Covid-19, its shares have more than doubled from a low in March as its digital unit got billions in investments from companies including Facebook and Google.

Mr 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 $10bn in the coming years to help accelerate the adoption of digital technologies in the world’s second-most populous nation.

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

UAE rugby season

FIXTURES

West Asia Premiership

Dubai Hurricanes v Dubai Knights Eagles

Dubai Tigers v Bahrain

Jebel Ali Dragons v Abu Dhabi Harlequins

UAE Division 1

Dubai Sharks v Dubai Hurricanes II

Al Ain Amblers v Dubai Knights Eagles II

Dubai Tigers II v Abu Dhabi Saracens

Jebel Ali Dragons II v Abu Dhabi Harlequins II

Sharjah Wanderers v Dubai Exiles II

 

LAST SEASON

West Asia Premiership

Winners – Bahrain

Runners-up – Dubai Exiles

UAE Premiership

Winners – Abu Dhabi Harlequins

Runners-up – Jebel Ali Dragons

Dubai Rugby Sevens

Winners – Dubai Hurricanes

Runners-up – Abu Dhabi Harlequins

UAE Conference

Winners – Dubai Tigers

Runners-up – Al Ain Amblers

When is VAR used?

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Mistaken identity

SPEC%20SHEET
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THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

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%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Chad%20Stahelski%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Keanu%20Reeves%2C%20Laurence%20Fishburne%2C%20George%20Georgiou%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
Benefits of first-time home buyers' scheme
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Most sought after workplace benefits in the UAE
  • Flexible work arrangements
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  • Mental well-being assistance
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Price, base: From Dh325,000 (estimate)

Engine: Twin electric motors and 95kWh battery pack

Transmission: Single-speed auto

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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Specs

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Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5