Asia's richest man has entered a new league of wealth.
The net worth of Mukesh Ambani, chairman of Reliance Industries Ltd., has jumped to $64.5 billion.
He overtook Larry Ellison of Oracle Corp. and France's Francoise Bettencourt Meyers, the wealthiest woman, to reach the No. 9 spot.
Mr Ambani, who owns 42 per cent of Reliance, has benefited from a flurry of investment into the company's digital unit, Jio Platforms Ltd., that Reliance said has made it net-debt free ahead of a March 2021 target.
While the Indian economy "has been nearly decimated" during the lockdown to control the spread of Covid-19, "Mr. Ambani's companies (particularly the telecom giant Jio) have prospered, and his personal wealth has increased substantially.
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