Mukesh Ambani, ranked sixth, is the only Indian in the top 50 in the list released by the Bloomberg Billionaires Index.

A file photo of Reliance Industries Chairman Mukesh Ambani who is seated at an event slightly smiling with a mic in front of himImage: Wikimedia Commons/World Economic Forum
Money Wealth Tuesday, July 14, 2020 - 11:37

Reliance Industries (RIL) Chairman Mukesh Ambani was ranked the sixth richest man in the world by the Bloomberg Billionaires Index on Tuesday, overtaking Google co-founders Larry Page and Sergey Brin, who ranked seventh and ninth on the list respectively.

Amazon founder Jeff Bezos tops the list with a net worth of $184 billion, followed by Microsoft chief Bill Gates at $115 billion. Ambani is also richer than Elon Musk, who has a total net worth of $68.8 billion and Warren Buffet, whose net worth is $69.7 billion.

With a total net worth of $72.4 billion, Ambani is the only Indian in the top 50 list. The next Indian in the list is Wipro's Founder Chairman Azim Premji, ranked 77 with a net worth of $16.9 billion. 

Other Indians in the list include HCL Technologies co-founder Shiv Nadar (ranked 89), Adani Group Chairman Gautam Adani (129), Cyrus Poonawalla of Serum Institute of India (137) and DMart owner Radhakishan Damani (138) among others.    

The Bloomberg Billionaires Index's profile of the RIL Chairman said, "Ambani controls 42% of Reliance Industries, owner of the world's largest oil refining complex. The Mumbai-based conglomerate's other businesses include a 4G wireless network across India. The billionaire also owns a residential property worth more than $400 million and the Mumbai Indians professional cricket team."

The latest development comes a day after it was reported that shares of RIL on the Bombay Stock Exchange (BSE) rose to an all-time high of Rs 1,908 after Qualcomm announced that it would be investing Rs 730 crore into Jio Platforms.

With the latest investment, total investments into Jio Platforms have crossed Rs 1.18 lakh crore so far in less than 3 months.

The stock of RIL has been rising since March and the company has now crossed Rs 12.09 trillion in market capitalisation, which is a record for an Indian company.

This also makes RIL the 51st most valuable company in the world by market share.

Earlier this week, Ambani was ranked the seventh richest person in the world, according to the Forbes Real Time Billionaires Index, where he overtook Warren Buffet, one of the most successful investors globally,

At the time, it was stated that his rise among the world's richest individuals was boosted by the continuous surge in the share price of RIL. 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.

With IANS inputs

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