Reliance Industries Ltd Chairman and Managing Director Mukesh Ambani has become the world’s sixth-richest person, replacing Google co-founder Larry Page from the position. Mukesh Ambani’s net worth is $72.4 billion, according to the Bloomberg Billionaires Index. Earlier this month, the RIL Chairman and MD made his place in the top 10 billionaires list by replacing Warren Buffett from the eighth position. Mukesh Ambani’s net worth jumped $2.17 billion in a day, which helped him secure the sixth position in the list of the world’s richest. He has added around $7.9 billion in the past 22 days amid a record rally in the shares of RIL.
Mukesh Ambani is the only Asian to make his place in the list of top 10 billionaires of the world. Jeff Bezos ($184 billion), Bill Gates ($115 billion), Bernard Arnault ($94.5 billion), Mark Zuckerberg ($90.8 billion), and Stele Ballmer ($74.6 billion) are placed higher than Mukesh Ambani in the Bloomberg Billionaires Index.
Recently, Mukesh Ambani’s RIL received massive investments from selling equity stakes in the group’s digital services unit Jio Platforms. RIL has sold equity stake worth Rs 1.18 lakh crore to 12 global investors including Facebook, Abu Dhabi Investment Authority, KKR, General Atlantic, Intel, Qualcomm, and others. These investments, along with Rs 53,124 crore raised through a rights issue, have helped RIL to become a net debt-free company much ahead of the self-imposed deadline.
RIL has been supported by the energy flank for a long time; however, the firm is gradually breaking free from oil-price fortunes. The string of deals with Facebook Inc and other Silicon Valley players this year have propelled Reliance into the e-commerce and technology space. With the huge investment in the telecom wing Jio, RIL’s stock has more than doubled from Rs 875 per share on March 23 to more than Rs 1900 a share now.