The chairman of Reliance Industries Ltd (RIL), Mukesh Ambani, is no longer among the world's top 10 richest billionaires. Mukesh Ambani's current net worth is $76.5 billion, according to the Bloomberg Billionaire Ranking (Rs 5.63 lakh crore). In the list of the richest people in the world, the RIL chief is ranked 11th. Jeff Bezos, with a combined net worth of $186 billion, Elon Musk, $160 billion, Bill Gates, $131 billion, Bernard Arnault, $110 billion, and Mark Zukerberg, $101 billion, are the top five individuals on the list. This year Mukesh Ambani's RIL shares witnessed intense volatility. RIL shares hit a 52-week low of Rs 878 apiece during March this year, and zoomed to a record high of Rs 2,368.80 in September, rising 170 percent. Now, in over three months, RIL shares are down 16 percent from an all-time high. The share price of Reliance Industries Ltd ended on Thursday at Rs 1,943.80 apiece. However, RIL shares have increased 28.12 percent on a year-to-date (YTD) basis. According to the Bloomberg Billionaire Index, with $79.2 billion net worth each, Sergey Brin, co-founder of Google and Larry Ellison of Oracle Corporation, stood at ninth and tenth positions, respectively. Although multi-billionaire investor Warren Buffet and Google co-founder Larry Page, with $85.8 billion and $81.8 billion net worth, respectively, were in sixth and seventh place. Former Microsoft CEO Steve Ballmer was eighth in the list with a net valuation of $80.5 billion. Mukesh Ambani's Reliance Industries has completed the sale of approximately 10 percent of its retail unit Reliance Retail Ventures Ltd (RRVL) for Rs 47,265 crore so far this year. After September 25, 2020, the company has sold 10.09% of the shares in RRVL to private equity firms Silver Lake Partners, KKR, GIC, TPG and General Atlantic, as well as Mubadala, ADIA and PIF sovereign wealth funds. In addition, for Jio Platforms, the group's telecom and digital services firm, the oil-to-telecom conglomerate raised Rs 1.52 lakh crore from investors such as Facebook, Intel and Google, etc. According to the annual wealth creation report of Motilal Oswal, RIL also emerged as the largest wealth creator between 2015 and 2020, adding Rs 4.4 lakh crore wealth. Reliance Industries Ltd has reported a cumulative net profit of Rs 3.78 lakh crore in the last 25 years (from March 1995-2020), generating a wealth of Rs 6.3 lakh crore.
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