Mukesh Ambani, Reliance Industries Limited’s chairman, on August 11 zoomed past France’s Bernard Arnault to become the fourth-richest person in the world. Ambani’s net worth is now $80.6 billion, after amassing $22 billion this year, reports Bloomberg Billionaires Index.

According to a report in Time, France’s Bernard Arnault’s LVMH Moet Hennessey Louis Vitton SE has suffered as its customers have halted high-end fashion purchases.

In recent weeks, Mukesh Ambani has skipped ahead of Elon Musk, Alphabet Inc. co-founders Sergey Brin and Larry Page, and Warren Buffet.

However, three people – Jeff Bezos, Bill Gates and Mark Zuckerberg — still stand tall in the list of richest billionaires ahead of Ambani.

While Reliance was suffered a pummel in demand in oil amid the coronavirus pandemic, the company’s shares have more than doubled from a low in March, courtesy billions in investments from companies including Facebook Inc and Google.

Ambani has gradually been shifting his center of attention towards e-commerce as tech giants seek to have a piece of India’s fast-growing digital business.

In April this year, Mark Zuckerberg-led Facebook announced that it has picked up a 9.99% stake in Jio Platforms Ltd (JPL) with shares worth Rs 43,574 crore.

On the other hand, Google agreed last month to spend $10 billion in the coming years to help speed the adoption of digital technologies in India.

Meanwhile, with LVMH shares down this year, Arnault has become the biggest loser among the world’s 500 richest people. His net worth dropped $25.1 billion to $80.2 billion.