With so much commotion going around, not just in the market but also among the business surroundings, Ambani has now climbed up the list of billionaires, beating the stock legend Warren Buffett, in the race.
Yes, Ambani now makes it in the top 10 richest billionaires in the world, beating Buffet to hold the 8th position, with a net worth of $68.3 billion.
Mukesh Ambani: 7th Richest Man
The year 2020 or at least half of the year for Mukesh Ambani's Reliance Industries Ltd was nothing short of a rollercoaster trip. What you need to know right now is that Mukesh Ambani is no longer just India's richest man but has now jumped into the world's top 10 billionaires list
That said Ambani is the only Asian tycoon in last month's exclusive club of the top ten richest people in the world. Mukesh Ambani is now worth $68.3 billion, surpassing Buffett's $67.9 billion fortune on Thursday. Though this is the amount that Bloomberg depicts, Forbes' real-time data reveals that his net worth is $70.1 billion.
Major Activities Reliance was Involved in, Leading to Value Surge
Clearly, RIL has not been idle. It is in fact, Ambani’s latest deal with petroleum giant BP, worth $1 billion which has been the main reason for the tycoon’s latest jump in rankings.
In fact, there are a lot of factors contributing to his surge in wealth. Speaking of which, we have to mention the 25% zoom in Reliance share price since the start of 2020, despite the sensex having taken a hit due to the coronavirus pandemic.This means the conglomerate spiked up by nearly $16.5 billion in the value, just this year.
RIL’s share prices have more than doubled, after hitting a low in March of this year, due to over $15 billion investments received by the company, from companies like Facebook and Silver Lake.