Reliance Industries Chairman Mukesh Ambani is no longer among the 10 richest people in the world.
At present, he is the 11th richest person in the world bellow Larry Ellison and Sergey Brin
According to the Bloomberg Billionaire Index, Sergey Brin, co-founder of Google and Larry Ellison of Oracle Corporation, stood at the ninth and tenth position.
Mukesh Ambani’s wealth
The Bloomberg list shows Ambani’s wealth at $76.5 billion (over Rs 5.63 lakh crore), down from $90 billion (around Rs 6.62 crore) earlier this year.
Reason
This year Mukesh Ambani’s RIL shares witnessed extreme volatility.
which have fallen nearly 16% from its all-time high of Rs 2,369.35 touched after the announcement of its deal to buy retail and wholesale assets of Future group.
However, the deal faced serious hiccups with Amazon.
While the matter is still in the court, Reliance Industries shares have seen profit booking on the back of the dispute with Amazon.
On Thursday, the scrip closed at 1,993.90, up 50.10 points or 2.58 per cent.
Top 3 in the race
Amazon chief Jeff Bezos continued to be the richest person in the world with a net worth of $186 billion.
Tesla CEO Elon Musk stood at the second position of Bloomberg Billionaires Index with $160 billion.
Microsoft co-founder Bill Gates was placed third on the list with $131 billion.
Company’s Financial
Reliance Industries Ltd has posted a cumulative net profit of Rs 3.78 lakh crore.
Profit booking for Investors
Despite the recent drop in RIL share price, it is still help the Investors to book the profits of up 33% year till date.
It has creating over Rs 3 lakh crore wealth for investors.
This is half of the wealth created by the conglomerate over the last 25 years. According to Motilal Oswal’s annual wealth creation study.
Institutional Investors
Recently, the company has sold 10.09 per cent 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.
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