Mukesh Ambani Enters The Club Of Top 10 Richest Men In The World, Full List Inside!

Asia’s richest man Mukesh Ambani has recently entered a new league of wealth. According to Bloomberg Billionaires Index, the net worth of Reliance Industries Ltd’s chairman has climbed to $64.5 billion and that also made him the only tycoon from Asia in the elite club of the world’s top 10 richest.

The fact RIL wiped off a debt owed by Jio Platforms that explains how Ambani made his new record. The businessman surpassed American business magnate Larry Ellison and French billionaire heiress Francoise Bettencourt Meyers to reach the 9^th spot on the list.

Even though Reliance’s shares witnessed a drop in March 2020 like many other companies due to the Coronavirus pandemic, they have seen continuous growth that even doubled from that low.

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On 31 March 2020, the digital services company Jio Platforms which is RIL’s subsidiary was burdened with a debt of Rs 1,61,035 crore. RIL set the deadline themselves by March 2021 as they wanted to have a successful debt recovery. However, things turned out much faster than their expectation. Mukesh Ambani who holds 42% of the firm has benefited from an investment that Reliance could announce Jio Platforms to be debt-free completely.

In the press release, PIL stated,

“Along with the stake sale to BP [Bharat Petroleum] in the petro-retail JV [joint venture], the total fund raise is in excess of Rs 1.75 lakh crore. Our net-debt was Rs 161,035 crore, as on 31st March 2020. With these investments, RIL has become net debt-free.”

Here is the list of 10 richest men in the world according to Bloomberg Billionaires Index released on 22 June 2020.

What do you think about the new record of Mukesh Ambani? Let us know in the comment section below!

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