Mukesh Ambani has left behind Chinese business magnate Jack Ma, co-founder and former executive chairman of Alibaba Group. Jack Ma was the richest man of Asia but after the deal of Ambani and Zuckerberg, Ambani is the richest man of Asia. His fortune rose about $4.7 billion reaching $49.2 billion on Wednesday after Reliance gained 10%. Now Mukesh Ambani is ahead of Chinese business magnate Jack Ma. According to the Bloomberg Billionaires Index, Ambani is leading in South Asia. The board updated ranking after the closing of each trading day in U.S.
Zuckerberg is aiming to buy 10% of jio platforms which will bring digital apps and wireless platforms together. Facebook will invest $5.7 billion. It is supposed to be the U.S social networking giant’s biggest deal after the purchase of WhatsApp in 2014.
“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 and also stated 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.”
This deal will help Zuckerberg in expanding his empire in the world of social media and will also increase his impact on the same as India is one of the largest markets for tech companies like Apple Inc. , Amazon.com Inc. and many others with approximately 250 million users. WhatsApp alone has 400 million users in India. This time Zuckerberg is reaching Indian Social networking by striking a deal with Mukesh Ambani.
According to James Crabtree, author of ‘The Billionaire Raj,’ India has a big influence of Ambani’s, he said. “This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani.”