Mukesh Ambani eclipses Europe's wealthiest man, becomes world's 4th richest

Ambani has slowly been shifting his focus to e-commerce, with tech giants seeking to take a piece of India's fast-growing digital business

Mukesh Ambani has surged past Europe’s wealthiest man, making him the world’s fourth-richest person.

Reliance Industries Ltd’s chairman is now worth $80.6 billion, after amassing $22 billion this year, according to the Bloomberg Billionaires Index. That gives him a bigger wealth pile than France’s Bernard Arnault, whose LVMH Moet Hennessy Louis Vuitton SE has suffered from customers curbing high-end fashion purchases faster than the company can cut costs.

India’s richest person has already surpassed some of the biggest tycoons in recent weeks -- a list that includes Silicon Valley titans such as Elon Musk and Alphabet Inc co-founders Sergey Brin and Larry