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Mukesh Ambani's $2 chutzpah unlocks another fortune for Reliance Industries

In four years, the Indian billionaire has amassed roughly 400 million customers for his mobile data business

Mukesh Ambani
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Covid-19 has been a shot in the arm for Reliance, despite retail Ebitda of only $145 million in the June quarter.

Andy Mukherjee | Bloomberg
Mukesh Ambani has joined the league of world’s richest with the help of a simple formula: assembling admirers for $2 businesses. First he got Facebook Inc. and Google to back his fledgling digital ambitions, and now he may be trying  to entice Amazon.com Inc. into his retail venture, already India’s largest.
 
In four years, the Indian billionaire has amassed roughly 400 million customers for his mobile data business. What does Ambani eke out from each of them? Less than $2 a month. The chump change didn’t deter Facebook and Google’s parent, Alphabet Inc. Together with marquee private equity investors and