Reliance Industries Ltd chairman Mukesh Ambani has moved up two spots to become the 11th richest person in the world, according to Bloomberg Billionaires Index. With a total net worth of $79.2 billion (nearly ₹5.78 lakh crore), Ambani is the only Indian to feature in the top 36 richest billionaires in the world. The jump comes as the profit of Reliance Industries soared 12.5% during the last quarter of 2020 despite sharp revenue fall in its dominant oil-to-chemicals business.
On Friday, the Mumbai-based oil-to-telecom behemoth -- which is owned by Mukesh Ambani -- said its consolidated profit rose to over 131 billion rupees ($1.79 billion) in the last three months of 2020 from around 117 billion rupees a year earlier.
Ambani’s bet on consumer services -- telecom and retail -- seems to be paying off despite the pandemic, helping the conglomerate offset a slump in its crude oil refining business.
"At a time when the Indian economy is poised for a confident recovery, we at Reliance are humbled that we have been able to contribute to it with our Company's impressive performance in the third quarter of FY21," Ambani said in a statement. The company recorded strong growth in its telecom arm Jio, with profits soaring 15.5% during the October-December 2020 period.
Here are the top 10 billionaires of the world, according to the Bloomberg Billionaires Index:
{{/usCountry}}Here are the top 10 billionaires of the world, according to the Bloomberg Billionaires Index:
{{/usCountry}}1. Elon R Musk $202 billion
2. Jeff Bezos $192 billion
3. Bill Gates $133 billion
4. Bernard Arnault $112 billion
5. Mark Zuckerberg $104 billion
6. Zhong Shanshan $88.9 billion
7. Warren Buffett $88.4 billion
8. Larry Page $88.4 billion
9. Sergey Brin $85.5 billion
10. Steve Ballmer $81.6 billion
(With agency inputs)