Due to the slump in Reliance’s share prices, Mukesh Ambani sustained a loss of around Rs 16,800 crore, bringing his current net worth down to $102 billion (about Rs 8.4 lakh crore), and pushing him to 17th place on the Bloomberg Billionaires Index.
Reliance Industries Chairman Mukesh Ambani, who was once placed 11th on the global rich list, has now dropped to the 17th place on the Bloomberg Billionaires Index, due to a steady decline in wealth, with his net worth shrinking to $101 billion. Mukesh Ambani – the richest person in Asia, is at the risk of losing his place in the coveted $100 billion club if the trend continues.
Mukesh Ambani’s Reliance Industries Limited saw a 4.77% decline in net profit in the July–September quarter as the company’s stock prices slumped by over 2% percent, resulting in an unflattering earnings report on October 15 which triggered a sharp decline in the billionaire’s fortune.
Due to the slump in Reliance’s share prices, Mukesh Ambani sustained a loss of around Rs 16,800 crore, bringing his current net worth down to $102 billion (about Rs 8.4 lakh crore), and pushing him to 17th place on the Bloomberg Billionaires Index.
Meanwhile, Ambani’s business rival, Gautam Adani, has witnessed a significant increase in his wealth during the same period. The Adani Group Chairman has a current net worth of $98.7 billion (around Rs 8.2 lakh crore), by adding Rs 2,235 crore to his wealth recently.
Gautam Adani is placed 18th on the Bloomberg Billionaires Index, a list which is topped by SpaceX CEO Elon Musk, who is the richest person in the world, boasting a a net worth of $242 billion (around Rs 20 lakh crore). Musk is followed by Amazon CEO Jeff Bezos, who has a net worth of $210 billion, while Facebook founder Mark Zuckerberg, with a net worth of $204 billion, is placed 3rd on the list.
Bloomberg Billionaire Index top 10 list of rich people also includes Larry Ellison ($185 billion), Bernard Arnault ($175 billion), Bill Gates ($161 billion), Larry Page ($150 billion), Warren Buffett ($147 billion), Steve Ballmer ($145 billion), Sergey Brin ($141 billion).