Mukesh Ambani becomes fifth-richest in the world as net worth swells past $75 billion
Overnight, his wealth rose by $1.2 billion, thanks to the surge in the share prices of his oil-to-telecom company RIL.
By Ami Shah, ETMarkets.com | Updated:
Agencies
Mumbai: India’s richest man Mukesh Ambani is climbing up the global rich list very fast, and is now the fifth-richest in the world, climbing two ranks from barely a couple of weeks ago.
Ambani, 63, has seen his net worth swell to $75.1 billion, from 69.9 billion on July 12, when he had become the world’s seventh richest and surpassed Warren Buffet, according to the Forbes Real-Time Billionaires List .
Overnight, his wealth rose by $1.2 billion, thanks to the surge in the share prices of his oil-to-telecom company Reliance Industries (RIL), which is also India’s most-valued company. Earlier in the day, RIL shares scaled a record high of Rs 2,010, and its market capitalization stands at Rs 12.70 lakh crore.
Ambani has overtaken Elon Musk, Larry Elison and Warren Buffet, and is just behind Mark Zuckerberg, who enjoys a net worth of $88.9 billion.
He is also the only Asian tycoon in the elite list of the top 10 richest people in the world. While eight of them hail from the United States, Bernard Arnault & Family, is from France.
Jezz Bezos, founder and CEO of Amazon continues to rule the top spot, with a net worth of $185.1 billion.
Since April, Reliance Industries has raised around Rs 1,52,056 crore from marquee investors and tech majors such as Google and Facebook by selling over 33 per cent stake in its Jio Platforms unit. This was the world’s largest fundraising exercise, and Ambani set an example by doing so in the midst of a pandemic.
Shares of oil-to-telecom conglomerate RIL have more than doubled from the lows seen in March, just at a time when coronavirus pandemic has been spreading relentlessly, impacting most businesses across the globe.
Ambani, 63, has seen his net worth swell to $75.1 billion, from 69.9 billion on July 12, when he had become the world’s seventh richest and surpassed Warren Buffet, according to the Forbes Real-Time Billionaires List .
Overnight, his wealth rose by $1.2 billion, thanks to the surge in the share prices of his oil-to-telecom company Reliance Industries (RIL), which is also India’s most-valued company. Earlier in the day, RIL shares scaled a record high of Rs 2,010, and its market capitalization stands at Rs 12.70 lakh crore.
Ambani has overtaken Elon Musk, Larry Elison and Warren Buffet, and is just behind Mark Zuckerberg, who enjoys a net worth of $88.9 billion.
He is also the only Asian tycoon in the elite list of the top 10 richest people in the world. While eight of them hail from the United States, Bernard Arnault & Family, is from France.
Jezz Bezos, founder and CEO of Amazon continues to rule the top spot, with a net worth of $185.1 billion.
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Since April, Reliance Industries has raised around Rs 1,52,056 crore from marquee investors and tech majors such as Google and Facebook by selling over 33 per cent stake in its Jio Platforms unit. This was the world’s largest fundraising exercise, and Ambani set an example by doing so in the midst of a pandemic.
Shares of oil-to-telecom conglomerate RIL have more than doubled from the lows seen in March, just at a time when coronavirus pandemic has been spreading relentlessly, impacting most businesses across the globe.
With a recent surge in his wealth, Asia’s richest man - Mukesh Ambani - has overtaken Warren Buffet in the global money rankings; he’s valued at roughly $75 billion.
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