Mukesh Ambani overtakes Warren Buffett, becomes world’s seventh richest

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Mukesh Ambani overtakes Warren Buffett, becomes world’s seventh richest

Mukesh Ambani overtakes Warren Buffett, becomes the world's seventh-richest.

Image Source: Forbes

Mukesh Ambani overtakes Warren Buffett, becomes the world’s seventh-richest. Mukesh Ambani, the chairman of Reliance industries is the only Asian in the Forbes top 10 rankings of the World’s richest.

Mukesh Ambani overtakes Warren Buffett and lands in the top 10 richest list. Monetizing Reliance Jio has made Ambani land in the richest list created by Forbes. Reliance Jio received huge investments from multinational companies around the world like Facebook, Intel, and Qualcomm.

Mukesh Ambani is now in the top 10 richest list with a net wealth of $70.1 billion. Ambani is aged 63 and owns a number of business establishments in which Reliance Jio is the talk of the town.

As per the real-time data provided by Forbes, Ambani is one of the top 10 richest people in the world. He is the only Asian to feature in the top 10 list.

Mukesh Ambani ranks ahead of Warren Buffett, Google co-founders Larry Page and Sergey Brin.  Almost all the gains in Reliance Industries shares have come on account of the Rs1,17,588 crore the company has raised for Jio Platforms. Marquee investors include the likes of Facebook, sovereign wealth fund Abu Dhabi Investment Authority, and private equity players KKR and Vista Equity Partners. The deals have been done at an equity valuation of Rs491,000 crore and an enterprise value of Rs516,000 crore. A sum of the parts valuation of the company values the telecom business as the one with the most potential to grow.

 

News Source: Forbes

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