--- description: Mukesh Ambani has surged past Europe’s wealthiest man, making him the world’s fourth-richest person. title: India’s Richest Tycoon Just Surpassed the Wealthiest European After Growing His Fortune by $22 Billion in 2020 image: https://static.time.com/v3/assets/bltea6093859af6183b/blt9b533f870be5fb20/698a113adb2987ecd2265b49/Mukesh-Ambani.jpg?branch=production&width=1440&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Money](/tag/money/) ## Money Update your preferences in [Account Settings](/account/preferences/) Close # India’s Richest Tycoon Just Surpassed the Wealthiest European After Growing His Fortune by $22 Billion in 2020 by [Blake Schmidt / Bloomberg](/author/bloomberg/) ## Blake Schmidt / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Aug 10, 2020 6:38 AM CUT  Mukesh Ambani attends the Javed Akhtar's 75th birthday celebration on Jan. 17, 2020 in Mumbai, India. Mukesh Ambani attends the Javed Akhtar's 75th birthday celebration on Jan. 17, 2020 in Mumbai, India.Prodip Guha—Getty Images by [Blake Schmidt / Bloomberg](/author/bloomberg/) ## Blake Schmidt / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Aug 10, 2020 6:38 AM CUT 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](https://www.bloomberg.com/news/articles/2020-07-27/lvmh-revenue-slumps-as-pandemic-erodes-luxury-consumption "undefined") 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 Page, as well as the so-called Oracle of Omaha himself, Warren Buffett. The three people that still come ahead of Ambani are centibillionaires Jeff Bezos, Bill Gates and Mark Zuckerberg. While Reliance, a conglomerate with a huge energy empire, was slammed by a slump in demand for oil amid Covid-19, its shares have more than doubled from a low in March as its digital unit got billions in investments from companies including Facebook Inc. and Google. 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. Google said last month it will spend [$10 billion](https://www.bloomberg.com/news/articles/2020-07-13/google-to-invest-10-billion-in-india-digitization-push "undefined") in the coming years to help accelerate the adoption of digital technologies in the world’s second-most populous nation. Meanwhile, with LVMH shares down this year, Arnault has become the biggest loser among the world’s 500 richest people. His net worth has plunged $25.1 billion to $80.2 billion. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5878029/mukesh-ambani-richest-billions/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5878029/mukesh-ambani-richest-billions/"},"headline":"India’s Richest Tycoon Just Surpassed the Wealthiest European After Growing His Fortune by $22 Billion in 2020","datePublished":"2020-08-10T06:38:38.000Z","dateModified":"2026-02-24T09:06:11.506Z","description":"Reliance Industries’ chairman is now worth $80.6 billion, after amassing $22 billion this year, according to the Bloomberg Billionaires Index","url":"https://time.com/5878029/mukesh-ambani-richest-billions/","keywords":["Money","wire","overnight"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt9b533f870be5fb20/698a113adb2987ecd2265b49/Mukesh-Ambani.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Blake Schmidt / Bloomberg"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt9b533f870be5fb20/698a113adb2987ecd2265b49/Mukesh-Ambani.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Entertainment India January","caption":"Entertainment India January","creditText":"Prodip Guha—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/money/","name":"Money"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/5878029/mukesh-ambani-richest-billions/","name":"India’s Richest Tycoon Just Surpassed the Wealthiest European After Growing His Fortune by $22 Billion in 2020"}}]}] ```