Mukesh Ambani
Mukesh Ambani

After surging past Tesla's Elon Musk just few days ago, now, India's richest man Mukesh Ambani has become world's fifth richest person.

Ambani's fortune is now valued at $75 billion after surging $3.2 billion or by 4.49%, according to the Forbes Billionaires list.

His rise among the world's richest individuals has been boosted by the recent continuous surge in the share price of Reliance Industries (RIL).

Over the past three years, RIL Chairman Mukesh Ambani focussed on de-leveraging, asset monetisation and strategic direction for various business lines.

During his Annual General Meeting on Wednesday, Mukesh Ambani announced that Google would be investing Rs 33,737 crore in Jio, the digital arm of Reliance Industries which will get it 7.7% percent stake in Jio Platforms.

With this deal, Reliance has sold 32.84 per cent stake in Jio Platforms Ltd - the unit that houses India's youngest but largest telecom firm Jio Infocomm and apps. In total, Jio has raised Rs 1,52,055.45 crore.

Amazon's Jeff Bezos top the list with a net worth of $185.8 billion followed by Bill Gates ($113.1 billion), Bernard Arnault ($111.8 billion),and Mark Zuckerberg ($89 billion).

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Free Press Journal