Reliance Industries (RIL) Chairman Mukesh Ambani has become the seventh richest person in the world overtaking Warren Buffet, one of the most successful investors globally, according to the Forbes Real Time Billionaires Index.
As per the latest Forbes data, Ambani's net worth rose $2 billion on Friday and currently stands at $70.1 billion.
His rise among the world's richest individuals has been boosted by the recent continuous surge in the share price of Reliance Industries (RIL).
On Friday, RIL shares on the BSE hit a fresh all-time high of Rs 1,884.40. Following the surge in share prices, the oil-to-telecom major's market capitalisation crossed Rs 11.90 lakh crore.
The shares have risen largely due to the investments coming into its technology and telecom arm Jio Platforms from global marquee investors. Jio Platforms has raised Rs 1.17 lakh crore so far in just over two months.
The net worth of Warren Buffet, who runs Berkshire Hathaway and is popularly known as the "Oracle of Omaha", stands at $68.1 billion and is at the eight spot.
Amazon CEO Jeff Bezos holds the first rank with a net worth of $186.8 billion, followed by Bill Gates in the second position with a net worth of $110.5 billion.
Forbes' Real-Time Billionaires ranking tracks the daily ups and downs of the world's richest people. Individuals whose fortunes are significantly tied to private companies will have their net worths updated once a day.
Last month, Mukesh Ambaniās Reliance Industries became the first Indian firm to hit a market valuation of USD 150 billion helped by a continuous rally in its share price.
Its market valuation crossed Rs 11 lakh crore in the previous session as its share price rallied over 6% after chairman Mukesh Ambani announced that his oil-to-telecom conglomerate had become net debt-free.