HomeBUSINESSMukesh Ambani out from world’s top 10 richest billionaires list

Mukesh Ambani out from world’s top 10 richest billionaires list

The chairman of Reliance Industries Ltd’s  – Mukesh Ambani is now no longer on the list of the top 10 richest billionaires in the world. According to the Bloomberg Billionaire Index, the current net worth of Mukesh Ambani is around $76.5 billion which is around Rs 5.63 lakh crore in Indian rupees. The chief of the Reliance industry is now at 11th position in the list of richest people in the world.

The top five people on the list of the richest persons are Jeff Bezos, he has a total net worth of around $186 billion, Elon Musk who has a net worth of around $160 billion, and also Bill Gates with $131 billion, on the fourth position is Bernard Arnault with $110 billion and on 5th is the CEO of facebook – Mark Zukerberg with $101 billion net worth.

This year the shares of the Mukesh Ambani’s RIL shares witnessed a lot of up and downfall. During the month of March this year, the shares of the RIL hit a 52-week low of Rs 878 apiece, and after that it zoomed to a record high of Rs 2,368.80 in the month of September, and rising it to over 170 per cent. Now, the shares of the RIL are off by 16 per cent in over just three months. Reliance Industries share price got an ended at Rs 1,943.80 on 24th December, Thursday. However, on a year-to-date basis, the RIL shares have moved suddenly with around 28.12 per cent. 

Mukesh Ambani out from world’s top 10 richest billionaires list
Mukesh Ambani out from world’s top 10 richest billionaires list

According to the Bloomberg Billionaire Index, The co – founder of Google and Larry Ellison of Oracle Corporation who is Sergey Brin stood at the ninth and tenth position, respectively with a net worth of around $79.2 billion net worth, each. While the multi-billionaire investor who is Warren Buffet and the co-founder of – Larry Page stood at the sixth and seventh position with a net worth of around $85.8 billion and $81.8 billion. Steve Ballmer who was the the former CEO of Microsoft  stood at eighth position in the list.

If talking about this year, Mukesh Ambani’s Reliance Industries has completed the sale of about 10 per cent stake in its retail unit Reliance Retail Ventures Ltd (RRVL) for Rs 47,265 crore. Since 25th September of this year the company has sold 10.09 per cent stake in RRVL.

They have sold that to private equity firms such as Silver Lake Partners, KKR, GIC, TPG and General Atlantic. They have sold to as well as sovereign wealth funds Mubadala, ADIA and PIF. Besides this, the oil-to-telecom conglomerate has raised to around Rs 1.52 lakh crore for the Jio Platforms, the group’s telecom and digital services company, from investors such as Facebook, Intel and Google, etc.

According to the study which was done by the Motilal Oswal’s annual wealth creation, RIL has also came out to be as the biggest wealth creator over the years from 2015-2020, adding it to Rs 4.4 lakh crore wealth. In the last 25 years Reliance Industries has also posted a cumulative net profit of around Rs 3.78 lakh crore, and hence creating a wealth of Rs 6.3 lakh crore.

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