Reliance Industries Chairman Mukesh Ambani vaulted into the list of the world's top 10 richest, according to the Forbes Real-Time Billionaire list, with his net worth rising $5.3 billion to $64.6 billion (or Rs 4.9 lakh crore).
The sharp increase in net worth came as the stock price of Reliance Industries hit an all-time high of ₹1,738.95 a share on Friday, as the oil-to-telecom behemoth became debt-free eight months ahead of March 2021 deadline it had set for itself.
RIL has raised Rs 1.75 trillion against its net debt of ₹1.61 trillion, through a 24.71% stake sale of equity of its subsidiary Jio Platforms to nearly a dozen investors, a rights issue and stake sale to UK-based multinational oil and gas giant BP. At its Friday closing price, RIL has now become the first Indian company to be valued at $150 billion or ₹11.52 lakh crore.
Ambani is now ninth on the rich list, one notch above Google co-founder Larry Page, who is at number ten with a net worth of $64.5 billion. He is the only Asian tycoon in the exclusive club of the world’s top 10 richest people. He overtook Larry Ellison of Oracle Corp. and France’s Francoise Bettencourt Meyers, the wealthiest woman, to reach the No. 9 spot.
Forbes' Real-Time Billionaires rankings track the daily ups and downs in the fortunes of the world’s richest people. The value of individuals’ public holdings is updated every 5 minutes when respective stock markets are open. Individuals whose fortunes are significantly tied to private companies will have their net worths updated once a day.
Amazon founder Jeff Bezos tops the list with a net worth of $158.9 billion, Bill Gates is next with $109.4 billion, and Facebook founder Mark Zuckerberg is fourth at $86.9 billion. The second richest Indian on the Forbes list is DMart founder Radhakishan Damani, ranked 84th, with a net worth of $16.2 billion.