- Ambani’s net worth has risen by nearly $10 billion from March to December.
- RIL became the first Indian company to reach the Rs 8 lakh crore m-cap mark in August 2018 and Rs 9 lakh crore m-cap in October 2019.
Chairman of Reliance Industries and India’s richest man, Mukesh Ambani, overtook Google founders Larry Page and Sergey Brin on Thursday to become Forbes’ ninth richest person in the world. Ambani’s net worth soared on Thursday (November 28, 2109) when Reliance Industries Limited became the first Indian company to cross a Rs 10 lakh crore market capitalization.
It can be noted that the net worth of Ambani today has risen to $60.5 billion. The market capitalization of Mukesh Ambani-led RIL surpassed the Rs 10 lakh crore mark in the morning trade after its shares rose to an intraday high of Rs 1,581 by as much as 0.75 percent. RIL shares are trading 0.50 percent higher at Rs 1,577.85 at 10:30 am.
It is worth mentioning that since Forbes released the rich list this year in March, Ambani is up four spots. He was at 13th position with a net worth of $50 billion when the list was released. Ambani’s net worth has risen by $10 billion from March to nearly December.
It is worth mentioning that Larry Page is at the 10th spot and Sergey Brin is at the 11th spot. Jeff Bezos is on top of the list, followed by Bernard Arnault and family, Bill Gates, Warren Buffett, Mark Zuckerberg, Larry Ellison, Amancio Ortega, Carlos Slim Helu and family, Mukesh Ambani and Larry Page respectively.
RIL has significantly progressed in 2 years:
RIL made another milestone last week, becoming the first Indian company to hit Rs 10 lakh crore m-cap. In October, RIL, first by any listed company, hit the Rs 9 lakh crore m-cap mark in intra-day trade. It became the first Indian company to reach the Rs 8 lakh crore m-cap mark in August 2018.
The Real-Time Billionaires List of Forbes was led by Bezos with a net worth of $113 billion, followed by Microsoft co-founder Bill Gates ($107.4 billion) and Bernard Arnault & Chairman and CEO, LVMH Moet Hennessy Louis Vuitton ($107.2 billion) in the second and third positions respectively.
The wealth-tracking website offers daily updates on each individual’s net worth and ranking verified as a billionaire by Forbes.
Others in the top 10 include Berkshire CEO Hathaway Warren Buffett with a net worth of $86.9 billion, Facebook Chief Executive Officer Mark Zuckerberg ($74.9 billion), Amancio Ortega founder and former Inditex retail group chairman, best known for his chain of Zara clothing and accessories shops ($69.3 billion), Oracle Larry Ellison co-founder of the software company ($69.2 billion), Carlos Sli Ellison ($69.2 billion).
The telecom market in India has been largely captured by JIO and that has aided to Ambani becoming the 9th richest person this sooner. Ironically, the Indian economy is facing a massive slowdown in the midst of all this.