Mukesh Ambani Leaps Ten Places To Seize The 4th Richest Man Position In The World
Mukesh Ambani, India’s wealthiest, has surged past Europe’s wealthiest man, and bags the world’s fourth-richest person position. Reliance's shares have more than doubled from a low in March as its digital unit got billions in investments from companies including Facebook Inc. and Google. Bloomberg Billionaire Index data, the Reliance chairman has jumped ten places on the Index since January as shares of his oil to telecom giant have surged over 145% from a low of Rs 867.82 in March.
By Pallabi Ghatak
The Bloomberg Billionaires Index showed Ambani, the chairman and MD of oil-to-telecom conglomerate Reliance Industries, has surpassed Europe's wealthiest man, Bernard Arnault, chairman and CEO, LVMH Moet Hennessy Louis Vuitton to become the world fourth-richest person, while only three names featured ahead of Ambani - Jeff Bezos, Bill Gates, and Mark Zuckerberg. Ambani's net worth on Friday went up by $326 million to $80.2 billion (Rs. 6.04 lakh crore) making him the 4th richest.
According to the list that shows the ranking of the world's richest people, India's richest person has already surpassed some of the biggest tycoons in recent weeks - a list that includes Silicon Valley titans such as Elon Musk, and Alphabet Inc. co-founders Sergey Brin and Larry Page, as well as the so-called Oracle of Omaha himself, Warren Buffett. Ambani is now worth $80.6 billion, after amassing $22mbillion this year, according to the Bloomberg Billionaires Index. That gives him a bigger wealth pile than France's Bernard Arnault, whose LVMH Moet Hennessy Louis Vuitton SE has suffered from customers curbing high-end fashion purchases faster than the company can cut costs, taking him down a notch to number five position.
Facebook founder Mark Zuckerberg's wealth crossed $100 billion for the first time, making him the third person in the world to become a centi-billionaire after Jeff Bezos and Bill Gates. The Facebook CEO has added $22.1 billion to his net worth since the start of 2020, especially after Facebook Inc. hit a record on optimism about the release of its TikTok competitor Reels, making his net worth $102 billion at the moment.
As per the data, the Reliance chairman has jumped ten places on the index since January as shares of his oil to telecom giant have surged over 145% from a low of Rs.867.82 in March after the company got Zuckerberg on board and back to back investment deals for Jio Platforms, having more than $15 billion in investments from companies including Facebook Inc and Silver Lake.
Ambani has certainly altered and refashioned the game by setting foot in the world's to five richest clubs since for decades, the world's five richest people comprised a little-changed group dominated by Americans, one or two Europeans, and occasionally, a Mexican. It seems like forever since people have been seeing the names of Microsoft co-founder Bill Gates, Facebook giant Mark Zuckerberg, Berkshire Hathaway chief Warren Buffett is the world's richest list. Amazon founder Bezos dethroning Bill Gates as the world's richest was certainly a wheel-turner. However, he is also an American, which means that the top three spots still had little to no diversity.
While the conglomerate with a huge energy empire was slammed by a slump in the demand for oil amid Covid-19, its shares have more than doubled from a low in March as its digital unit got billions in investments from companies including Facebook Inc and Google.
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