Mukesh Ambani Becomes World’s 6th Richest Man And Asia’s Richest Man, Leaving Jack Ma Behind

Reliance Industries Ltd’s Chairman and Managing Director, Mukesh Ambani has now become the 6th richest person in the world. His real-time net worth reached $72.4 billion. He is also Asia’s richest man. It looks like it won’t take much time before he joins the exclusive club of the top five richest people in the world.

In the ranking, his position is higher than that of Warren Buffet, the Oracle of Omaha, and Elon Musk of Tesla.

With a 3% increase in RIL’s shares, the wealth of the Indian billionaire has seen a rise of $2.17 billion. The RIL stock has soared 29% this year.

Following its share price’s surge, the market valuation of the oil-to-telecom conglomerate jumped to Rs 12,29,020,35 crore, a Rs 28,163.22 crore increase on the BSE. Analysts point out the rise of the RIL shares is the result of the company’s plan to go net-debt-free by March 2021.

Another thing worth noting here is that the Rs  5.44 lakh crore net worth of Ambani is higher than the combined net worth of the five Indian billionaires including Aziz Premji with a $16.9 billion net worth, Shiv Nadar with a $15.8 billion net worth, Gautam Adani with $12.6 billion net worth, Radhakishan Damani with $11.8 billion net worth and Cyrus Poonawala with $11.8 billion.

Ambani owns 42% of RIL. He has also been benefiting from investing in Jio Platforms Ltd, the digital unit of the company.

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