Mukesh Ambani is Now 5th Richest Person in the World, Moves Ahead of Warren Buffet as Wealth Increases to $75.1 Billion
Mukesh Ambani is now the fifth-richest person in the world, according to the Forbes Real-Time Billionaires List. 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.
Mumbai, July 23: Mukesh Ambani is now the fifth-richest person in the world, according to the Forbes Real-Time Billionaires List. 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.
He climbed up two ranks in barely two weeks, thanks to a surge in the share prices of Reliance Industries. Ambani is only next to Facebook co-founder and CEO Mark Zuckerberg, whose wealth is pegged at $89 billion. Jeff Bezos Adds $13 Billion to his Net Worth in a Single Day, Amazon Founder's Fortune Rises $74 Billion in 2020 Amid COVID-19 Pandemic.
Ambani's wealth increased on the back of Reliance Industries' whose shares surged to an all-time high of Rs 2,010 recently, taking the group's market capitalisation to Rs 12.70 lakh crore. Mukesh Ambani Makes Big Announcement at RIL AGM 2020; Google to Invest Rs 33,737 Crore in Reliance Jio For 7.7% Stake.
Amazon founder and CEO Jeff Bezos is at the top position in the list, with a net worth of $185.8 billion. He is followed by Microsoft co-founder Bill Gates with a net worth of $113.1 billion and luxury group LVMH Moet Hennessy Louis Vuitton’s chief Bernard Arnault, with a net worth of $112 billion.
Mukesh Ambani, while addressing shareholders at his company's 43rd annual general meeting (AGM) virtually recently announced that Google will invest Rs 33,737 crores for a 7.7 percent stake in Jio Platforms. Google thus became the second-largest investor in Jio Platforms after Facebook that invested $5.9 billion (Rs 43,574 crore) for a 9.99 percent stake.
Reliance has secured funding for Jio Platforms from many several global investors such as Facebook, Silverlake, KKR, TPG, Intel and Qualcomm, among others. Ambani has so far sold over 25 percent stake in Jio Platforms.
(The above story first appeared on LatestLY on Jul 23, 2020 07:19 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).