NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / Now, Mukesh Ambani is 9th richest, ahead of Google founders
    Now, Mukesh Ambani is 9th richest, ahead of Google founders
    1/5
    Business 2 min read

    Now, Mukesh Ambani is 9th richest, ahead of Google founders

    By Shubham Sharma
    Nov 28, 2019
    03:43 pm
    Now, Mukesh Ambani is 9th richest, ahead of Google founders

    Mukesh Ambani, the chairman and managing director of Reliance Industries, has become the 9th richest person in the world. The business magnate overtook Google founders, Larry Page and Sergey Brin, after RIL's market capitalization crossed the Rs. 10 lakh crore ($140 billion) mark - the first Indian company to achieve the milestone. Here's all about it.

    2/5

    Ambani's wealth surpassed $70 billion mark

    On Thursday, Reliance Industries' shares jumped to a record high of Rs. 1,581 per piece, taking conglomerate's market capitalization to more than Rs. 10 lakh crore or $140 billion (at the current exchange rate). The development took the wealth of Ambani, who is the largest shareholder in RIL, beyond Rs. 5 lakh crore or $70 billion.

    3/5

    Net worth increased by $707 million

    According to Forbes, Ambani's net worth, calculated by deducting a proportionate share of debt from the total wealth, witnessed an increase of about $707 million. It took his total net worth well beyond $60 billion, helping him overtake Page and Brin and take the spot of 9th richest person in the world. At the time of writing, Ambani's net worth stood at $60.6 billion.

    4/5

    Page follows closely, Bezos still on top

    While Ambani has taken the top spot, it is worth noting that he is being closely followed by both Page and Brin with a net worth of $59.6 billion and $57.5 billion, respectively. Meanwhile, the toppers of the list still include familiar names: Amazon's founder Jeff Bezos, Microsoft's Bill Gates, and French business magnate Bernard Arnault with a net worth over $100 billion.

    5/5

    Strong performance of oil and telecom ventures

    The increase in RIL's market capitalization, and therefore Ambani's worth, can be directly attributed to the strong performance of the company's oil and telecom businesses. Reliance Jio, in particular, has not only raked customers at a faster rate than its competitors Vodafone Idea and Bharti Airtel but its average revenue per customer has also increased up to Rs. 120/customers, which is higher than Vodafone's.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Mukesh Ambani
    Bill Gates
    Jeff Bezos
    Reliance Industries
    Sergey Brin

    Mukesh Ambani

    Jio launches AI-powered 'Video Call Assistant' at IMC 2019 Reliance Jio
    India Rich List: Mukesh Ambani retains top-spot for 12th year India
    Jio starts charging for calls from today: Details here India
    Reliance Jio Fiber launches today: All you need to know India

    Bill Gates

    Elon Musk lost $768 million after Cybertruck's launch failed Elon Musk
    Bill Gates says he's impressed with Nitish Kumar. Here's why Bihar
    Amazon boss Jeff Bezos set to lose 'World's Richest' title Amazon
    Did Bill Gates lie about relationship with pedophile Jeffrey Epstein? Microsoft

    Jeff Bezos

    Satya Nadella gets 66% salary hike. Guess his total earnings? Microsoft
    At Jamal Khashoggi's memorial, Jeff Bezos hugs his fiancée Saudi Arabia
    Amazon accidentally gives 99% discount on Prime Day sale Amazon
    Bill Gates not second richest anymore. Here's who replaced him France

    Reliance Industries

    Mukesh, Nita and Ambani kids get Income Tax notices: Report Mumbai
    #BiggestFDIDeal: Saudi Aramco invests $15 billion in Reliance's oil business India
    Jio Fiber roll-out from September 5, priced at Rs. 700/month Mukesh Ambani
    JioPhone 3 to JioFiber: Everything Reliance could announce on Monday Mukesh Ambani

    Sergey Brin

    Shareholders sue Alphabet board for covering up sexual harassment allegations Sexual Harassment
    Dichotomy of being Google: Benevolent, Evil and everything in between Larry Page
    100 gms of entrepreneurship: What are the ingredients Steve Jobs
    Where are the first 20 employees of Google now? YouTube
    Next News Article

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023