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Mukesh Ambani overtakes Bernard Arnault to become world’s fourth-richest person

India’s richest person has surged past some of the biggest tycoons in recent weeks including the Silicon Valley titans such as Elon Musk, Alphabet Inc. co-founders Sergey Brin and Larry Page, as well as Warren Buffett.

August 09, 2020 / 07:22 AM IST
Mukesh Ambani (Image: Reuters)

Mukesh Ambani (Image: Reuters)


Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani is now the fourth-richest person in the world, after surging past Bernard Arnault, chairman and CEO of LVMH Moet Hennessy Louis Vuitton, according to the Bloomberg Billionaires Index. The 63-year-old is now worth $80.6 billion (Rs 6.04 lakh crore), after amassing $22 billion this year.

Arnault's net worth, on the other hand, went down by $1.24 billion to $80.2 billion (Rs 60.01 lakh crore) taking him down a notch to the fifth position.

India’s richest person has surged past some of the biggest tycoons in recent weeks including the Silicon Valley titans such as Elon Musk, Alphabet Inc. co-founders Sergey Brin and Larry Page, as well as Warren Buffett.

Out of the top 10 richest persons in the Bloomberg Index, eight are Americans making Ambani not only the richest Indian but also the richest Asian on the list.

Facebook founder Mark Zuckerberg is currently third on the list as his wealth crossed $100 billion for the first time, making him the third person in the world to become a centi-billionaire after Jeff Bezos and Bill Gates.

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Zuckerberg who added $22.1 billion to his net worth since the start of 2020 is worth $102 billion at the moment.

As per Bloomberg Billionaire Index data, the Reliance chairman has jumped ten places in the index since January as shares of his oil-to-telecom conglomerate have surged over 145 percent from a low of Rs 867.82 in March. All this followed after RIL’s Jio Platforms got more than $15 billion in investments from companies including Facebook Inc and Silver Lake.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Moneycontrol.
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