Mukesh Ambani, Reliance Industries Ltd (RIL) Chairman and Managing Director, became the world’s sixth-richest person—surpassing Alphabet co-founder Larry Page—after his real-time net worth rose by $2.17 billion to $72.4 billion on Monday (July 13). Aside from being the richest Indian and Asian, Ambani, 63, is now all set to join the exclusive club of the world’s top five richest people.
On the latest Bloomberg Billionaires Index, the real-time net worth of Mukesh Ambani climbed to $72.4 billion (Rs 5.44 lakh crore), a rise of $2.17 billion compared to yesterday. It is worth noting that Ambani has added almost $7.9 billion to his fortune in the past 22 days amid a record-breaking rally in the shares of Reliance Industries. Last week, Ambani displaced Warren Buffett, known as the Oracle of Omaha, to become the eighth richest man, as per the Bloomberg Billionaires Index.
With Monday’s 3% jump in RIL’s shares, Ambani’s wealth has risen by $2.17 billion to $72.4 billion. Worth mentioning here is that the RIL stock has outperformed the Sensex by soaring 29% so far this year, compared with an 11% drop in the benchmark index.
Following the surge in its share price, the oil-to-telecom conglomerate’s market valuation jumped by Rs 38,163.22 crore to Rs 12,29,020.35 crore on the BSE. Analysts say the RIL shares have been on a rise since the company announced its plan to reduce its net debt to zero by March 2021 and stake sales in its digital arm Jio Platforms.
Source: Financial Express & Times Now