Mukesh Ambani took the title Asia’s richest person from Jack Ma the founder of Alibaba Group with a fortune of $44.3 billion after a skyrocketing stock rally. Jack Ma’s wealth stood at $44 billion at the close of trade on Thursday in the US. Jack Ma lost $1.4 billion in 2018.
Reliance is now directly competing with Amazon Inc and Wal-Mart Inc with the announcement of his plans to expand his e-commerce offerings.
Reliance re-entered the $100 billion club after more than a decade. He uses the same stand when he announces his venture Jio with free offers that force rivals to quit and some to merge. That’s the start of “digital era”.
In the latest meet, he announced a hybrid platform which involves retail and Jio businesses. Who knows, you will get all products free for a month in his e-commerce venture. Let’s wait for the other era to begin.