Mukesh Ambani’s $72 billion fortune makes him richer than Elon Musk and Google’s Larry Page and Sergey Brin

IANS
  • Mukesh Ambani’s $72 billion net worth has made him the sixth richest person in the world.
  • He is now richer than Tesla founder Elon Musk ($68.6 billion) and Google founders Larry Page and Sergey Brin.
  • Just four days ago, Ambani — who runs oil-to-telecom conglomerate Reliance Industries — had crossed stock legend Warren Buffet in the billionaires list.
Mukesh Ambani is richer than ever.

Indian tycoon Mukesh Ambani has become the sixth richest person in the world with his $72.4 billion fortun, beating Tesla founder Elon Musk ($68.6 billion) and Google founders Larry Page and Sergey Brin, reported Bloomberg.

Just four days ago, Ambani — who runs oil-to-telecom conglomerate Reliance Industries — became richer than stock legend Warren Buffet after Reliance’s stock rallied in the market. Since then, Ambani has added $4.1 billion more to his wealth.

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Reliance share price has jumped by 25.8% since January — with analysts expecting a lot more gains in the near future.

Business Insider India


The sudden surge in Ambani’s wealth since April is because his three-year-old telecom arm Reliance Jio has raised more than $15.6 billion in the last four months from Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, Saudi PIF (Public Investment Fund) and more.

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Ambani is said to be in talks with Google for a $4 billion investment in Jio.

He also declared that the $100 billion Reliance Industries is now net debt-free a lot earlier than the target of March 2021. In the last decade, Ambani has doubled his wealth and in 2020, as India’s richest are losing money, Ambani is gaining more.

According to Bloomberg, Ambani is slowly shifting his focus from energy to e-commerce. The next wave of growth and value for Ambani and Reliance’s shareholders is likely from the retail vertical. Reliance Retail is already the country’s largest chain and is now likely to get even bigger, as Asia’s richest man focuses on becoming India’s retail king.

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SEE ALSO:
Mukesh Ambani is not done – Jio Fiber to get over $1 billion as Abu Dhabi and Saudi sovereign funds are set to invest in Reliance InvIT
9 mind-blowing facts that show just how wealthy Mukesh Ambani, the richest person in Asia, really is
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