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Mukesh Ambani becomes 9th richest person after RIL share hits fresh high

On the Bloomberg Billionaires Index, the real-time net worth of Mukesh Ambani climbed to $64.5 billion, a rise of $4.18 billion compared to the previous day

Aseem Thapliyal | June 22, 2020 | Updated 11:14 IST
Mukesh Ambani becomes 9th richest person after RIL share hits fresh high
RIL share extended gains in the third consecutive session today to hit an all time high of Rs 1,804 on BSE. The large cap stock gained 2.53% intra day against previous close of Rs 1,759 on Friday

Mukesh Ambani becomes 9th richest in world after RIL share hits fresh high Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani became the ninth richest person in the world after share price of the conglomerate hit Rs 1,800 mark for the first time.

On the Bloomberg Billionaires Index, the real-time net worth of Mukesh Ambani climbed to $64.5 billion, a rise of $4.18 billion compared to the previous day.

Ambani has now surpassed Larry Ellison of Oracle Corp. and France's Francoise Bettencourt Meyers, the wealthiest woman, making him the only Asian tycoon in the exclusive club of world's top 10 richest people. RIL share extended gains in the third consecutive session today to hit an all time high of  Rs 1,804 on BSE.  The large cap stock gained 2.53% intra day against previous close of Rs 1,759 on Friday.

Market capitalisation of RIL stood at Rs 11.22 lakh crore on BSE. This is the second session in which market cap of RIL has stayed above Rs 11 lakh crore. On Thursday, Mukesh Ambani said Reliance Industries had become net debt-free months ahead of its March 2021 target.  After the announcement, market capitalisation of  Reliance Industries rose over Rs 11 lakh crore for the first time ever in Friday's trading session.

RIL's market cap rises to a record 8.53% of market value of NSE firms

The rise in share price of Reliance came after RIL announced on Thursday it has raised Rs 1.68 lakh crore in total from a series of investors, including the likes of Facebook Inc, Vista Equity and KKR, and rights issue. Interestingly, the conglomerate was able to raise money for its digital arm amid the Covid-19 led slowdown across the world which forced businesses to close operations.

How Reliance Industries Ltd became net-debt free before the March 2021 target

Jio Platforms raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22.

RIL becomes first Indian firm to cross Rs 11 lakh crore market capitalisation

It also raised funds worth Rs 53,124.2 crore via rights issue concluded recently.

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