Mumbai: Mukesh Ambani, the Chairman of the Reliance Industries Ltd. has surpassed investing legend Warren Buffett in the world’s richest sweepstakes, shows the Forbes Real Time Billionaire Index, on Friday.
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According to the data, Ambani’s net worth stands at $70.1 billion, with a rise of $2 billion, compared to Buffett, whose net worth stands at $67.8 billion, is now perched at seventh. Ambani is also the only Asian to feature in the top 10.
Ambani’s surge is an outcome of a rapid rise in the share prices of Reliance Industries, which has more than doubled since March. The stock has risen following a series of investments in its Jio Platforms unit, including by Facebook, Sovereign wealth fund, Abu Dhabi Investment Authority, Private equity players KKR and Vista Equity Partners.
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Meanwhile Buffett, who was the world’s second richest individual for the longest time, has not witnessed much change in his net worth recently with his Berkshire Hathaway investment firm under-performing indices over the past decade.
Jeff Bezos, the founder of Amazon is the world’s richest individual, with a net worth of $188.2 billion.
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