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Asia’s biggest billionaire snaps controlling stake in Mandarin Oriental 5-star hotel in New York City

Asia’s biggest billionaire, Mukesh Ambani, has snapped up a controlling stake in the Mandarin Oriental in New York City for just over $98 million. Ambani’s conglomerate, Reliance Industries, announced Saturday the acquisition of the hotel’s parent company, a Cayman Islands-based firm controlled by the Investment Corporation of Dubai. That company indirectly holds a 73.4% stake […]