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Stock Analysis, IPO, Mutual Funds, Bonds & More

RIL m-cap nears Rs 10 lakh crore; Mukesh Ambani now world's 12th richest man

On a year-to-date basis, Mukesh Ambani's wealth increased by $13.70 billion to $58 billion.

ETMarkets.com|
Updated: Nov 20, 2019, 03.53 PM IST
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Mukesh-Ambani---BCCL
With a rally of 40 per cent year-to-date, the oil-to-telecom behemoth is just shy of becoming the first Indian company to hit Rs 10 lakh crore market cap.
New Delhi: Billionaire Mukesh Ambani became the 12th richest man in the world on Wednesady following robust performance of his conglomerate Reliance Industries on Dalal Street. With a rally of 40 per cent year-to-date, the oil-to-telecom behemoth is just shy of becoming the first Indian company to hit Rs 10 lakh crore market cap.

As the scrip hit its all-time record high of Rs 1,571.85 on BSE, the market capitalization of the company reached over Rs 9.96 lakh crore in the morning trade.

Bloomberg Billionaire index showed that Bill Gates as the wealthiest man with a total net worth of $110 billion. He was followed by Jeff Bezos ($109 billion), Bernard Arnault ($101 billion), Warren Buffett ($86.40 billion) and Mark Zuckerberg ($74.10 billion).

On a year-to-date basis, Mukesh Ambani's wealth increased by $13.70 billion to $58 billion. With a total net worth of $61.50 billion, Julia Flesher Koch is on the 10th spot right now, according to Bloomberg Billionaire index.

Azim Premji, former chairman of Wipro, is the second wealthiest Indian on the list with a combined wealth of $19.1 billion. Premji added $1.75 billion to his net worth this year.

Premji is followed by Shiv Nadar of HCL ($15.6 billion), Uday Kotak of Kotak Mahindra Bank ($14.2 billion), Laksmi Mittal of ArcelorMittal ($12.7 billion) in top five. Mittal has lost over $1 biilion this year.

The shares of the company closed 2.47 per cent higher at Rs 1547.05 on BSE.

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