Despite oil-to-telecom conglomerate Reliance Industries emerging as the biggest wealth creator in the past five years, India’s richest man Mukesh Ambani is no more among the top 10 richest billionaires in the world,
On the latest Bloomberg Billionaire Index, Ambani is at 11th position with a net worth of USD 76.5 billion. Earlier this year, he held the fourth position on the list with a net worth of USD 90 billion. However, the 63-year-old still is the richest man in Asia, reports UNB.
The top five richest billionaires on the list are the founder of e-commerce giant Amazon, Jeff Bezos, with a net worth of $186 billion, electric car maker Tesla’s CEO Elon Musk with USD 160 billion, Microsoft founder Bill Gates with USD 131 billion, French businessman Bernard Arnault with USD 110 billion and Facebook founder Mark Zukerberg with USD 101 billion.
The Bloomberg Billionaire Index that debuted eight years ago tracks the net worth of the world’s 500 wealthiest people almost on a daily basis.
The development has taken many by surprise given the fact that Ambani’s Reliance Industries, which began as a yarn trading business, emerged as the biggest wealth creator in the past 25 years, with much of the gains coming in the past five years.
As per a study report by India’s best-known brokerage firm Motilal Oswal, Reliance added Rs 4.4 trillion in wealth between 2015 and 2020.