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.
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.
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.