Speaking at the 43rd Reliance Industries Limited annual general meeting (AGM), Mukesh Ambani announced that Go...Read More
Continuing its hot streak of getting investors on board,
today announced that internet search giant
is its latest strategic partner. Speaking at the 43rd Reliance Industries Limited annual general meeting (AGM), Mukesh Ambani announced that Google will invest Rs 33.737 crores for a 7.7% stake in
This is one of the many big investors RIL has got on board to invest in Jio Platforms. Facebook, Qualcomm, Intel and others have also invested in Jio in the last couple of months. In the last few months, Reliance Jio has raised over Rs 1.52 lakh crore from strategic partnerships with overseas investors.
While the details about Google’s partnership remain unclear as of now but both Jio and Google are dominant players in their spheres. Google is a market leader in search, videos, maps, and email with services like Search, YouTube, Maps and Gmail. Not to forget the dominance of Android in the country on smartphones.
Ambani, on the other hand, is now ahead of the likes of Warren Buffet and Google co-founders Larry Page and Sergei Brin. As per the Bloomberg Billionaires Index, Ambani's estimated net worth now stands at $72.4 billion. Ambani, who has been the richest Indian and Asian, has seen his wealth swell by $2.1 billion as of date on yesterday alone. Do keep in mind that these numbers fluctuate on a daily basis .
The surge in Reliance Industries’ market value since March has seen Ambani grow his wealth as well.