Apr 23: Mukesh Ambani is again Asia's richest person after a deal with Mark Zuckerberg's Facebook Inc. sent his conglomerate's stock surging.
Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.
Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.
Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.
"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."
The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.
With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.
That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.
"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."
Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.
Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.
Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.
"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."
The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.
With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.
That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.
"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."
Comments
Muslims worship allah and don't want to say vandemataram.
Christians worship Jesus only still they do not have problem in singing vandemataram.
Bhudhist worship bhudha only still they do not have problem in singing vandemataram.
Jains worship mahavir only still they do not have problem in singing vandemataram.
why it is only problem for muslim to sing vandemataram.-
Please everyone try to know, that Islam has codes to follow. Islam strongly and strictly has to follow the God’s rule. No human interference is allowed to complement to God’s rules. Islam has 2books. Quran and Hadees the sayings of the prophet Muhammad (peace upon him PBU)
Muslims are not allowed to introduce new things which are contradictory to Islam.
Because Islam is flexible enough to allow allowable things. These things will suffice the needs. No need to invent the wheels. Islam is purely based on 1God and Message came thru prophet Muhammad PBU.
This is called 1ness of God. Nothing should be worshipped other than 1 the true God. We worship only the God and we seek all our requirements with this 1God. This is the important message. Anyone contradicting and violating it by worshiping others or praying others for our requirements is a unforgivable offense which leads to hell fire. it is command to us to be careful of this error.
30% of the teaching of Islam is repeatedly discouraging to worship or attribute others with the God. What a serious teaching we have to be careful of. This is repeated in Quran and hadees. Nothing is allowed even in a minute level to equate into the Quality of the God. This is oneness of God. Things against is called as doing shirk(associating to the God). May the God save us from this error.
1.VANDE MATARAM : We can not sing this song because its meaning contradicts the above oneness of the God.
2. Celebrating other festival
Muslims are allowed to observe 2eids (Eid ul Fitr. This is after end of Ramadan fasting, 2nd is Eid us Adha)
Even we don’t celebrate the birth day of anyone including our prophet.
Patriotism
We are not against national interest. We have to fight for the right of our nation as long as we are not offending others. If required we are commanded to fight and sacrifice our lives. What a great teaching. Is it in taught in any other books.
So we don’t celebrate even National independence day. No need for celebration but we are ready to sacrifice to defend the nation.
Mr bogi , from last year rss nagpur headquartes started hoisting indian flag , from 1947 our madrasas hoisting clelebrating indipendence day , you sangis were with british when indians were fighting for freedom , now its time for indians to fight against sangh parivar .
To Yogi and his chela Mohsin: - Do you want the video that I'm Celebrating Ind. Pen Day and Fl-ag hosting in bathroom..........
Mr Yogi's statement is a proof for his trust in minorities, for video recording... Its better to send those Usthads who all attended the MRM meet yesterday in Bantwal constituency.
Yogi ji could you please request your headquarters in Nagpur to hoist national flag above RSS's Saffron flag,
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