Mukesh Ambani surpasses Warren Buffet to become world's fifth richest man
Mukesh Ambani is now the fifth richest man in the world. The Reliance Industries chairman surged past ace US investor Warren Buffet to gain fifth spot in the real-time ranking by Forbes Magazine. His current wealth stands at $74.6 billion (Rs 5.61 lakh crore at $1 = Rs 74.76). Interestingly, the 63-year-old is the only Asian tycoon to feature in the exclusive club of top 10 richest people.
Amazon founder Jeff Bezos tops the list with a net worth $185.8 billion, followed by Bill Gates of Microsoft with $113.1 billion of wealth. Bernard Arnault and family, the chairperson and chief executive of luxury group LVMH, is on the third spot with $111.8 billion, he followed by Facebook co-founder Mark Zuckerberg, whose wealth is pegged at $89 billion. On Wednesday, Reliance shares breached Rs 2,000-mark for the first time ever.to hit a record high of Rs 2,010 , taking its market capitalisation to Rs 12.71 lakh crore.
Last week, Ambani surpassed Alphabet Google's parent) co-founders Sergey Brin and Larry Page to become the world's sixth-richest person, according to the Bloomberg Billionaires Index. On the back of a string of deals for his digital business, RIL share price has rallied 131.5 per cent from March lows of Rs 868 apiece
Facebook has already announced an investment of USD 5.7 billion (Rs 43,574 crore) to buy a 10 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio. And last week, Google also agreed to invest $4.5 billion for a 7.73% stake in the top Indian telecom network.
(with PTI inputs)
Posted By: Rakesh Kumar Jha