While Ambani’s wealth has jumped — he became the only Asian tycoon in the exclusive club of the world’s top 10 richest people last month — Buffett’s fortune dropped this week after he gave away $2.9 billion to charity. The 89-year-old, known as the Oracle of Omaha, has slipped down the rankings after donating more than $37 billion of Berkshire Hathaway stock since 2006. Berkshire Hathaway’s stock performance has also underwhelmed recently.
Ambani, 63, is now the eighth richest person on the planet, and Buffett is ninth, according to the index, which started in 2012.
Thanks to Ambani’s deals, India has emerged as a hot-spot for M&A this year, accounting for more than 12 per cent of those announced in Asia Pacific — the highest ratio since at least 1998.