People & Money

India’s Mukesh Ambani becomes Fifth Richest Man in the World

India’s richest man Mukesh Ambani is climbing up the global rich list very fast, and is now the fifth-richest in the world, climbing two ranks from barely a couple of weeks ago.

Ambani, 63, has seen his net worth swell to $75.1 billion, from 69.9 billion on July 12, when he had become the world’s seventh-richest and surpassed Warren Buffet, according to the Forbes Real-Time Billionaires List.

Overnight, his wealth rose by $1.2 billion, thanks to the surge in the share prices of his oil-to-telecom company, Reliance Industries (RIL), which is also India’s most-valued company. Earlier in the day, RIL shares scaled a record high of Rs 2,010, and its market capitalization stands at Rs 12.70 lakh crore.

Ambani has overtaken Elon Musk, Larry Elison and Warren Buffet, and is just behind Mark Zuckerberg, who enjoys a net worth of $88.9 billion.

He is also the only Asian tycoon in the elite list of the top 10 richest people in the world. While eight of them hail from the United States, Bernard Arnault & Family, is from France.

Jeff Bezos, founder and CEO of Amazon continues to rule the top spot, with a net worth of $185.1 billion

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