Business / Who are now world's 10 richest people as Ambani is no longer among top 10?

New Delhi: Reliance Industries Ltd’s (RIL) chairman Mukesh Ambani is no longer among top 10 richest billionaires in the world. According to the Bloomberg Billionaire Index, Mukesh Ambani’s current net worth stands at $76.5 billion (Rs 5.63 lakh crore). The RIL chief is at 11th position in the list of richest people in the world. The top five people in the list are Jeff Bezos with a total net worth of $186 billion, Elon Musk with $160 billion, Bill Gates with $131 billion, Bernard Arnault with $110 billion and Mark Zukerberg with $101 billion net worth.

This year Mukesh Ambani’s RIL shares witnessed extreme volatility. During March this year, RIL shares hit a 52-week low of Rs 878 apiece, and zoomed to a record high of Rs 2,368.80 in September, rising 170 per cent. Now from an all-time high, RIL shares are off 16 per cent in over three months. Reliance Industries Ltd share price ended at Rs 1,943.80 apiece on Thursday. However, on a year-to-date (YTD) basis, RIL shares have surged 28.12 per cent. 

According to the Bloomberg Billionaire Index, Sergey Brin, co-founder of Google and Larry Ellison of Oracle Corporation, stood at the ninth and tenth position, respectively with $79.2 billion net worth, each. While multi-billionaire investor Warren Buffet and Google co-founder Larry Page were at sixth and seventh position with $85.8 billion and $81.8 billion net worth, respectively. Former CEO of Microsoft Steve Ballmer stood at eighth position in the list with a net worth of $80.5 billion.

So far this year, Mukesh Ambani’s Reliance Industries has completed the sale of about 10 per cent stake in its retail unit Reliance Retail Ventures Ltd (RRVL) for Rs 47,265 crore. Since September 25, 2020, the company has sold 10.09 per cent stake in RRVL to private equity firms Silver Lake Partners, KKR, GIC, TPG and General Atlantic, as well as sovereign wealth funds Mubadala, ADIA and PIF. Besides, the oil-to-telecom conglomerate raised Rs 1.52 lakh crore for Jio Platforms, the group’s telecom and digital services company, from investors such as Facebook, Intel and Google, etc.

According to Motilal Oswal’s annual wealth creation study, RIL has also emerged as the biggest wealth creator over 2015-2020, adding Rs 4.4 lakh crore wealth. In the last 25 years (from March 1995-2020), Reliance Industries Ltd has posted a cumulative net profit of Rs 3.78 lakh crore, creating a wealth of Rs 6.3 lakh crore.