Indian billionaire Mukesh Ambani passes Elon Musk to become world’s 6th richest person

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Shares of the conglomerate have more than doubled from a decrease in March as its electronic unit obtained billions in funds from firms such as Facebook Inc., Silver Lake, and, most lately, Qualcomm Inc.

India’s richest person jumped beyond Silicon Valley technology titan Elon Musk and Alphabet Inc. co-founders Sergey Brin and Larry Page to develop into the planet’s sixth-richest person.

Mukesh Ambani’s energy empire is gradually shifting into e-commerce, with technology giants trying to have a sheet of India’s fast-growing electronic organization. The world’s next country has witnessed a spike of interest in Silicon Valley, particularly in its own market. Google said it will invest $10 billion to help accelerate the adoption of technologies.

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Following a fall in U.S. tech stocks on Monday, Page’s fortune currently stands at $71.6 billion. In comparison, Brin’s reaches $69.4 billion, and Tesla Inc.’s Musk is worth $68.6 billion. Buffett’s net worth fell after he gave off $2.9 billion to charity.