The world's 7th richest man has moved up two spots to become the 5th richest man in the world.
According to Forbes, 63 year old Mukesh Ambani, the chairperson of Reliance Industries Ltd, is now the world’s 5th richest man and has left Warren Buffet behind. As of Wednesday, Ambani has also surpassed Berkshire Hathaway's CEO Buffett's $72.7 billion, billionaires's list.
Mukesh Ambani has seen a slew of deals for his digital business and shares of his conglomerate have more than doubled since a low in March. All this came after RIL’s Jio Platforms got more than $15 billion in investments from companies including Facebook Inc and Silver Lake.
Last week, Google agreed to buy a $4.5 billion stake in Jio Platforms Ltd, adding to a series of large US investments into an online venture that has nearly 400 million users in India.
Amazon’s Jeff Bezos leads the list with $185.8 billion, followed by Bill Gates of Microsoft with $113.1 billion of wealth. Bernard Arnault and family, the chairperson and chief executive of luxury brand LVMH is the third on the list with a wealth of $111.8 billion. Facebook’s Mark Zuckerberg is the fourth richest with a net worth of $89 billion.