Reliance Industries Chairman Mukesh Ambani has now become 14th richest man in the world.
Reliance Industries Chairman Mukesh Ambani has now become 14th richest man in the world. According to Bloomberg Billionaire Index, Ambani’s net worth stands at $45.1 billion as on July 21, 2018. Addition of $4.79 billion has been made in his net worth so far this year. Last addition was of $940 million. With this, Mukesh Ambani has once again outrunned Jack Ma, owner of China's largest e-commerce firm.
Mukesh Ambani's wealth expanded due to RIL as its market valuation touched over $100 billion becoming the second largest company in India as per market cap after TCS. On Friday, RIL share price touched a new high of Rs 1,138.25 per piece, before ending at Rs 1,128.55 per piece above Rs 24.65 or 2.23% on BSE with a market cap of Rs 7,15,106.70 crore.
Alibaba Group founder Ma's wealth stood at 44 billion dollars at close of trade on Thursday.
Reliance doubled its petrochemicals capacity, adding 4 billion dollars to Ambani's fortune in 2018. According to the report, Ambani also announced his plans to leverage his 215 million telecom subscribers to expand his e-commerce offerings.On the other hand, Ma lost 1.4 billion dollars in wealth this year.
RIL announced aggressive business plan at its annual general meeting (AGM) held last week. The stock has been on an uptrend ever since and has gained 13.05 per cent since July 5.
At the AGM, Mukesh Ambani had unveiled an ultra high-speed fixed line fibre broadband for homes and enterprises across 1,100 cities and announced plans for an e-commerce platform that may rival likes of Amazon.
Amazon's Jeff Bezos Jeff Bezos has ranked the list with his net worth crossing $150 billion. The second in line is Microsoft’s co-founder Bill Gates whose net worth is $95.5 billion, $55 billion less than that of Bezos. Bill Gates was first replaced by Bezos as the richest person in the world in July 2017 after holding the title for 4 years in a row.
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 "Mukesh Ambani becomes 14th richest man worldwide, here's how much net worth he has now")
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