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🚨*Mukesh Ambani's RIL overtakes Exxon to become world’s no 2 energy company*

🚨*Mukesh Ambani's RIL overtakes Exxon to become world’s no 2 energy company*🚨

🌟Reliance Industries Ltd., controlled by Asia’s richest man, *toppled ExxonMobil Corp. to become the world’s largest energy company* after Saudi Aramco, as investors piled into the conglomerate lured by the Indian firm’s digital and retail forays.

⭐️Reliance, which manages the biggest refinery complex, gained 4.3% in Mumbai on Friday *adding $8 billion to take its market value* to $189 billion, while Exxon Mobil erased about $1 billion. Reliance’s shares have jumped 43% this year compared with a 39% drop in Exxon’s shares as refiners across the globe struggled with a plunge in fuel demand.

🌟While the energy business accounted for about 80% of Reliance’s revenue in the year ended March 31, Chairman Mukesh Ambani’s plan to expand the company’s digital and retail arms has helped him attract $20 billion into the Jio Platforms Ltd. unit. That in turn helped add $22.3 billion to Ambani’s wealth this year, propelling him to the fifth spot in the Bloomberg Billionaires Index.

⭐️The 63-year-old tycoon has *identified technology and retail as future growth* areas in a pivot away from the energy businesses he inherited from the energy business inherited from his father Who died in 2002.

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