Mukesh Ambani becomes 9th richest in world with net worth of $60.6 bn after RIL's m-cap crosses Rs 10 lakh cr

Reliance Industries chairman Mukesh Ambani now ranks as the 9th richest person across the globe, with a net worth of $60.6 billion, according to ‘The Real-Time Billionaires List’ of Forbes.  His rankings leapfrogged from 13th position with $50 billion wealth in March 2019 to current 9th position (on Thursday), marking a gain of over $10 billion in just eight months. He overtook Google’s Larry Page ($59.6 bn), Michael Bloomberg ($54.7 bn), Charles Koch ($42.8 bn) and David Koch ($42.8 bn). Out of the top 10 people on the Forbes rich list,  six are from the United States, one each from France, Mexico, Spain and India. [caption id=“attachment_4272895” align=“alignleft” width=“380”] File picture of Mukesh Ambani, Chairman, Reliance Industries. YouTube screengrab[/caption] The wealthiest person in the globe on the list is Jeff Bezos, founder, CEO, and president of Amazon.com with a total net worth of $113 billion. Jeff is followed by Bill Gates ($107.4 bn), co-founder, Microsoft;  Bernard Arnault ($107.2 billion), French billionaire business magnate, and art collector; Warren Buffett ($86.9 billion) American philanthropist and investor, who is the chairman and CEO of Berkshire Hathaway; and Mark Zuckerberg ($74.9 billion), co-founder Facebook, internet entrepreneur and philanthropist. On Thursday, Reliance Industries, the country’s most valued firm, has become the first Indian company to hit Rs 10 lakh crore market capitalisation (m-cap) following a spike in its share price. At market close, the oil-to-telecom conglomerate’s market capitalisation zoomed to Rs 10,01,555 crore on BSE. The stock rose 0.65 percent to close at Rs 1,579.95 on BSE. During the day, it jumped 0.90 per cent to an all-time high of Rs 1,584. At the NSE, it gained 0.77 percent to close at Rs 1,582. Over the past few session, the company’s market valuation has been hovering near the Rs 10 lakh crore-mark.

On Tuesday, the oil-to-telecom conglomerate’s  m-cap zoomed  to Rs 9,99,045 crore ($139 billion) during the trade on the BSE. However, at close of trade it came down to Rs 9,88,179.79 crore (nearly $138 billion). The company’s stock rose 0.98 percent to a record peak of Rs 1,576 in intra-day on the BSE. Later it, however, closed marginally lower by 0.12 percent at Rs 1,558.85. RIL last week achieved another milestone, becoming the first Indian firm to hit m-cap of Rs 9.5 lakh crore. Also, last week the company surpassed BP Plc in terms of market valuation. In October, RIL hit the Rs 9 lakh crore m-cap mark in intra-day trade, first by any listed company. In August 2018, it became the first Indian firm to cross the Rs 8 lakh crore m-cap mark. (Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost)