New Delhi: Social media giant Facebook has bought a 9.99 percent stake in Mukesh Ambani-led Reliance Jio. For this, Facebook has invested $ 5.7 billion, which is about Rs 43,574 crore in Reliance Jio. With this deal, Mukesh Ambani has become the richest person in Asia and has left behind Alibaba founder Jack Ma in China.
Mukesh Ambani has captured the title of Asia’s richest person, leaving behind Jack Ma and this has happened after the Facebook-Jio deal. Mukesh Ambani’s wealth has increased by $ 4 billion yesterday and it has increased to $ 49 billion. In this way, his wealth is more than $ 3 billion more than Jack Ma.
— The New Indian Express (@NewIndianXpress) April 23, 2020
By Tuesday, Reliance Industries Chairman Mukesh Ambani had a big decline in assets and it was reduced to $ 14 billion and there was a decrease of $ 1 billion in Jack Ma’s wealth.
Reliance Industries shares surge on Wednesday: After the news of a deal with tech giant Facebook, Reliance Industries shares registered a sharp jump on Wednesday and it was trading at Rs 1375, up 11 percent at one time. RIL shares closed up 9.83 percent at Rs 1359 at the close of business. Just yesterday, the market cap of Reliance Industries had increased by Rs 90,000 crore.
What is in the Facebook-Jio deal: Facebook has announced to buy a 9.99 percent stake in Jio platforms with an investment of Rs 43,574 crore. This is by far the largest foreign direct investment (FDI) for minority participation in a company in India. After Facebook’s investment, the valuation of Jio platforms will reach around Rs 4.75 lakh crore.
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