Mukesh Ambani is now the fifth richest person in the world, according to Forbes

• The fortune of India’s richest man has swelled to $74.7 billion.
  
• Ambani is wealthier than several American business tycoons including Warren Buffett, Larry Ellison and Elon Musk, according to Forbes.
  
• Just today, he has added $2.9 billion to his net worth.
  
• Shares of Ambani led-Reliance Industries (RIL) surged to a new high on July 22, as they crossed the ₹2,000-mark for the first time
  
  

There’s no stopping the money rush! Indian businessman Mukesh Ambani$4in the world with a fortune of $74.7 billion in his coffers. He is wealthier than American business tycoons including Warren Buffett, Larry Ellison and Elon Musk, according to Forbes.

The recent rally in Reliance’s share price has added to Ambani’s wealth. Just today, he has added $2.9 billion to his net worth. Shares of Ambani led-Reliance Industries (RIL)$4. RIL shares touched an all-time high of Rs 2,010 per share. In the past three months, RIL's stock price has grown around 48%.


A week ago, Mukesh Ambani was on his course to become the fifth richest man but he $4 after Reliance’s share fell by over 6% following an annual general meeting.



Top 10 richest people in the world, as of July 22, according to Forbes

Jeff Bezos	$185.8 Billion
Bill Gates	$113.1 Billion
Bernard Arnault and family	$112 Billion
Mark Zuckerberg	$89 Billion
Mukesh Ambani	$74.7 Billion
Warren Buffet	$72.7 Billion
Larry Ellison	$72.7 Billion
Elon Musk	$71.6 Billion
Steve Ballmer	$71.4 Billion
Larry Page	$69.4 Billion

The reason behind this sudden surge in Ambani’s wealth since April is because his three-year-old telecom arm $4from $4, Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, Saudi PIF (Public Investment Fund) and more.

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Jio is $4 for the Indian market. Backed by the likes of Qualcomm and Google, Jio’s smartphone may emerge as a serious threat to the Chinese peers like Xiaomi, Vivo and Oppo who dominate India’s smartphone market.

In the last decade, Ambani $4, 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 i$4 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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