India’s richest person and Reliance Industries Limited (RIL) chairman and managing director Mukesh Ambani, who earlier this year rose to the 4th spot on the Bloomberg Billionaire Index, is no longer among the world’s top 10 richest billionaires.
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. This year Mukesh Ambani’s RIL shares witnessed extreme volatility. Now from an all-time high, RIL shares are off 16 per cent in over three months. Erosion in Ambani’s wealth came on the back of correction in Reliance Industries shares, which have fallen as much as 16 per cent from their all-time high of Rs 2,369.35 after the conglomerate entered a Rs 24,713 crore deal with Future Retail to acquire the latter’s retail, wholesale, logistics and warehousing businesses.
The RIL chairman is at the 11th position in the list of the richest billionaires in the world, below Sergey Brin, co-founder of Google and Larry Ellison of Oracle Corporation, who stood at 9th and 10th position respectively with $79.2 billion net worth, according to the Bloomberg ranking. The top five people in 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 net worth.