The transformation of Mukesh Ambani’s work, the world’s 10th wealth

Mukesh Ambani is the latest billionaire to jump the Singapore bandwagon. This city-state has recently benefited from the tightening of Chinese government policies, causing millionaires from sectors such as technology, such as Google co-founder Sergey Brin; And investment, like Ray Dalio, founder of one hedge fund The largest in the world, leave Hong Kong and Beijing. This means that approximately 15% of its population could earn $1 million in 2030.

net worth of $83.7 billionAccording to the Billionaires Index BloombergMukesh Ambani, President of Reliance Industries, plans to change his business. In fact, this Indian businessman has been wading through something he comments these days to his shareholders: “the beginning of internationalization,” in reference to the international plans of his conglomerate.

To do so, Ambani wants to set up a family office in Singapore, thanks to its lower taxes and security, and deal primarily with refining retail globally, as well as acquire assets outside India, he said. Bloomberg. According to one of the people closest to Ambani, the business will also include real estate.

In between, Ambani has already racked up some milestones, such as the $79 million Reliance Industries paid in April 2021 for the popular Stoke Park Country Club, adding an iconic UK location that became the setting for two James Bond films. It also bought a 73.4% majority stake in the luxury Mandarin Oriental New York hotel in January 2022 for $98.15 million and a beachfront villa in Dubai for $80 million.

Domestically, Ambani has also slowly diversified its business, moving from chemicals and oil refining to green energy and expanding its retail presence in India. One of her most ambitious plans focuses on flowvia Paramount Global, as Asia’s second-largest fortune aims to take on the mighty Amazon.

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Gautam Adani, Asia’s 4th largest in the world with an estimated net worth of $127 billion, is also in the process of diversifying his business from coal to green hydrogen. Its goal is green energy, which, in addition to investing 70,000 million until 2030, intends to go down in history as its largest producer.

In this dire offer for green energy, Adani will seek glory outside India, the country in which he has invested almost all of his investments. However, the biggest Asian fortune has already made some forays abroad and has partnered with French oil giant TotalEnergies, pledging to invest $7.3 billion in Adani’s business, including renewable energy and green hydrogen units.

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