Mukesh Ambani Becomes 11th Richest Globally After His Net Worth Scales To Rs. 4.58 lakh Cr

After the stock price of Reliance Industries made new high and has jumped 100% since the 52-week low price attained in March due to market rout, the real time wealth of the oil to telecom conglomerate's MD and CEO Mukesh Ambani surged in real time to cross $60 billion for the first time. And subsequently he became the 11th richest person globally.

Mukesh Ambani Becomes 11th Richest Globally After His Net Worth Scales To Rs. 4.58 lakh Cr

As per the Bloomberg Billionaires Index, Mukesh Ambani's net worth after today's surge of close to 6% in share price of RIL has become $60.3 billion or Rs. 4.58 lakh crore. On the NSE, the stock made a high of Rs. 1754.35 per share. Also, post the intra-day rally today, the company's market capitalization stands at Rs. 11.50 lakh crore.

This surge in net worth has led the billionaire to rank ahead of Amancio Ortega, Zara's (Spanish retail chain) founder and former chairman.

Also, upon the success of the company's RIL rights issue (netted Rs. 53,124.20 crore) and back to back investment deals from global investors (RS. 1.16 lakh crore), the company raked up a massive sum, which has enabled the company to become net debt free ahead of March 2021 timeline. The company's net debt as on March 31, 2020 stood at Rs. 1,61,035 crore.

"Today I am both delighted and humbled to announce that we have fulfilled our promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021," Ambani mentioned in a statement.

"We will induct leading global partners in these (consumer) businesses in the next few quarters, and move towards listing of both these companies within the next five
years......," Ambani said adding that "with these initiatives, I have no doubt that your company will have one of the strongest balance sheets in the world."

Also, in an address to its shareholders, he said that the company is in its 'Golden Decade' and will set even more ambitious growth goals, and achieve them.

The company plans listing its consumer businesses within the next five years.

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