RIL President Mukesh Ambani, off the list of the 10 richest billionaires in the world; see full list here

Reliance Industries Ltd (RIL) Chairman Mukesh Ambani is no longer among the 10 richest billionaires in the world. According to the Bloomberg Billionaires Index, Mukesh Ambani’s current net worth is $ 76.5 billion (Rs 5.63 lakh crore). The head of RIL is ranked 11th on the list of the richest people in the world. The top five people on the list are Jeff Bezos with a total net worth of $ 186 billion, Elon Musk with $ 160 billion, Bill Gates with $ 131 billion, Bernard Arnault with $ 110 billion, and Mark Zukerberg with $ 101. billion.

This year, Mukesh Ambani’s RIL shares witnessed extreme volatility. During March this year, RIL’s shares hit a 52-week low of Rs 878 each, and soared to an all-time high of Rs 2,368.80 in September, increasing 170 percent. Now, from an all-time high, RIL shares are down 16 percent in more than three months. Reliance Industries Ltd’s share price ended at Rs 1,943.80 apiece on Thursday. However, so far this year (YTD), RIL’s shares have risen 28.12%.

According to the Bloomberg Billionaires Index, Sergey Brin, co-founder of Google and Larry Ellison of Oracle Corporation, ranked 9th and 10th respectively, with a net worth of $ 79.2 billion each. While billionaire investor Warren Buffet and Google co-founder Larry Page ranked sixth and seventh with a net worth of $ 85.8 billion and $ 81.8 billion, respectively. Former Microsoft CEO Steve Ballmer ranked eighth on the list with a net worth of $ 80.5 billion.

So far this year, Mukesh Ambani’s Reliance Industries has completed the sale of approximately 10 percent stake in its Reliance Retail Ventures Ltd (RRVL) retail unit for Rs 47,265 crore. Since September 25, 2020, the company has sold the 10.09% stake in RRVL to private equity firms Silver Lake Partners, KKR, GIC, TPG and General Atlantic, as well as sovereign wealth funds Mubadala, ADIA and PIF. Furthermore, the oil-to-telecom conglomerate raised Rs 1.52 lakh crore for Jio Platforms, the group’s telecommunications and digital services company, from investors such as Facebook, Intel and Google, etc.

According to Motilal Oswal’s annual wealth creation study, RIL has also become the largest wealth creator during 2015-2020, adding Rs 4.4 lakh crore of wealth. Over the past 25 years (March 1995 to 2020), Reliance Industries Ltd has posted a cumulative net profit of Rs 3.78 crore lakh, creating wealth of Rs 6.3 crore lakh.