Mukesh Ambani Now Richer Than Google’s Founders, Ranks 9th Globally

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Mukesh Ambani, Chairman, Reliance Industries Limited (RIL) is now the world’s 9th richest person according to Forbes’ ‘Real Time Billionaires List’. When Forbes released the list of richest people on the planet for the year 2019, earlier this year, Mukesh Ambani was ranked 13th.

The rise in his net worth is closely linked with the increase in Market Capitalization (M-Cap) of RIL, which surpassed Rs. 10 lakh crore M-Cap yesterday, creating a new record as RIL is the only company in India to have Rs. 10 lakh crore M-Cap.

According to Forbes’ list of ‘Real-Time Billionaires List’, Mukesh Ambani’s ‘Real Time New Worth’ stand at $ 60 billion as of 1:00 pm today.

Jeff Bezos, Founder and CEO (Chief Executive Officer) of Amazon retained his #1 position with ‘Real Time Net Worth’ of $ 113 billion as of the same time. While Bill Gates, Founder Microsoft, is currently #2 on the list with a net worth of $107.4 billion (increase of $4 million). Top 10 richest people in the World as of 1:00 pm on the Real Time list of Billionaires are:

List Of Top 10 Richest People In The World

Rank Name Net Worth in USD (B= Billion) Age Source of Income Country of Citizenship
1 Jeff Bezos $113 B 55 Amazon United States
2 Bill Gates $107.4 B 64 Microsoft United States
3 Bernard Arnault $107.2 B 70 LVMH France
4 Warren Buffett $86.9 B 89 Berkshire Hathaway United States
5 Mark Zuckerberg $74.9 B 35 Facebook United States
6 Amancio Ortega $69.3 B 83 Zara Spain
7 Larry Ellison $69.2 B 75 software United States
8 Carlos Slim Helu $60.9 B 79 telecom Mexico
9 Mukesh Ambani $60 B 62 petrochemicals, oil & gas India
10 Larry Page $59.6 B 46 Google United States

On Thursday, RIL shares hit a new high of Rs, 1,581/25 of the BSE, rising over 0.5%. RIL has also gained almost 40% since last November. TCS (Tata Consultancy Services) is the second most valuable company in India with almost Rs. 8.5 lakh crore (around $121 billion) M-Cap. HDFC Bank, Hindustan Unilever, Infosys are some of the other firms with high M-Cap.

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RIL made some ‘big ticket’ announcements, and among them was the company’s aim to become debt-free by the end of FY2020. RIL is also going to sell off 20% of its holding in petrochemical and refining business to Saudi Arabian Oil Company or also known as Saudi Aramco.

RIL also has announced that the company plans to establish a wholly-owned subsidiary for all of its digital platform activities. The subsidiary will be called JPL (Jio Platforms Limited). The company will invest Rs. 1080 billion (Rs. 1.08 lakh crore) in JPL which will further infuse it into Jio. RIL has invested around Rs. 65,000 crore in Jio toll date. Keeping RIL’s core business aside, according to estimates, the company is much more dominantly present in in Fashion, Consumer Electronics, and Lifestyle products when compared to any other National Company.

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