Mukesh Ambani beats Warren Buffett on the list of billionaires

BCCL
  • Ambani’s latest deal with petroleum giant BP of $1 billion has given him the latest jump in rankings.
  • While according to Bloomberg, Ambani holds the 8th rank with a net worth of $68.3 billion, Forbes real time data shows his net worth to be $70.1 billion.
  • Reliance share price too has zoomed over 17% since the beginning of the year.
Reliance Chairman Mukesh Ambani is fast rising in the billionaires list of the world. Ambani has beaten the stock legend Warren Buffett too in the billionaire race. While according to Bloomberg, Ambani holds the 8th rank with a net worth of $68.3 billion, Forbes real time data shows his net worth to be $70.1 billion.

Ambani’s latest deal with petroleum giant BP of $1 billion has given him the latest jump in rankings.

Reliance share price too has zoomed over 25% since the beginning of the year, despite the sensex having taken a hit due to the coronavirus pandemic. That would mean a spike of nearly $16.5 billion in the value of RIL shares owned by Ambani and family this year alone.

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BI India/Flourish


Mukesh Ambani’s Reliance Jio has led a slew of massive investments in the past nine weeks have also pushed Reliance to be net debt free. During the last AGM of the company, Ambani had set the target to be a “zero net debt company by March 31, 2021” and now nine months before the scheduled date, the company has achieved.


Investments by global tech investors₹117,588.45 crore
Rights Issue₹53,124.20 crore

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Since April 2020, Reliance Jio has raised a total of ₹ 117,588.45 crore ($15.7 billion) so far from the likes of Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and Saudi PIF since April 22, 2020 The latest deal is Reliance’s 12th investment in 11 weeks.

“Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance. Therefore, on the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its golden decade will set even more ambitious growth goals, and achieve them.” Mukesh Ambani had said while announcing that the company is debt free.



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