Mukesh Ambani replaces Larry Page to become worlds 6th richest person

Mukesh Ambani replaces Larry Page to become worlds 6th richest person

Replacing Google co-founder Larry Page from his position, Reliance Industries Ltd Chairman and Managing Director Mukesh Ambani have become the world's sixth-richest person. 

Currently, Mukesh Ambani's net worth is $72.4 billion, as reported by the Bloomberg Billionaires Index. In recent times, RIL has been in the news for selling various shares in the group's digital platform Jio. RIL also sold equity shares worth Rs 1.18 lakh crore to various foreign investors such as Facebook, Abu Dhabi International Investment Authority, KKR and many more. These investments have helped RIL become a net debt-free company. This has also led the chairman and MD recently made this place in the top 10 billionaires by replacing Warren Buffett.

Ambani's net worth jumped $2.17 billion in a day that escalated his position on the list to the sixth position. In the last 22 days, he has added around $7.9 billion amid a record increase in the shares in the shares of RIL. 

Breaking the record, Mukesh Ambani is now the only Asian to take his place in the list of top 10 billionaires in the world. He currently ranks higher than Jeff Bezos ($184 billion), Bill Gates ($115 billion), Bernard Arnault ($94.5 billion), Mark Zuckerberg ($90.8 billion), and Stele Ballmer ($74.6 billion) according to the Bloomberg Billionaire Index. 

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.

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