Business: Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, became the fifth richest man in the world, a position he shares with Tesla founder Elon Musk and Former Microsoft CEO Steve Ballmer.
Earlier, last month, Ambani was at 8th position, has now risen from the eighth position to fifth position
The 63-year-old is now worth $74.6 billion, surpassing Berkshire Hathaway’s chief executive Buffett’s $72.7 billion as of Wednesday, according to the Forbes’ billionaires’ list.
Ambani’s network, four months into the covid 19 pandemic stood at $66 billion. “The increase in valuation of RIL is synonymous with the demographic opportunity presented by india. In this pandemic situation when everyone doing work online and jio company launches such as jio meet and so on, value could be further unlocked when jio platform forays further into digital offering such as online gaming and when potential listing on Nasdaq,” said hurun india managing director and chief researcher Anas Rahman Junaid.
According to Hurun research, Mukesh Ambani will be one of the five richest men in the world for the next two to three years. The data revealed further that Jio platforms on 22 april 2020 had raised a total of RS 117,588.45 crore from global investors including facebook, silver lake, vista equity partners, general atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and intel capital.
Amazon founder Jeff Bezos with a network of $200 billion still tops the chart, Bill Gates of Microsoft with $113.1 billion of wealth. Facebook founder Mark Zuckerberg ($89 billion) is at fourth position.