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Mukesh Ambani back among the 10 richest people in the world, soaring RIL stock prices boost his net worth by $2.4 billion

Reliance Industries chairman Mukesh Ambani is back among the world’s 10 richest people after RIL’s share price rose on Friday to a new record high of Rs 2,800 each on BSE, bringing the total market capitalization at Rs 18.9 lakh crore. The oil-telecom conglomerate’s share price rose above its previous high of 2,776.40 rupees hit on Thursday. According to Bloomberg Billionaire Index, Mukesh Ambani’s net worth jumped $2.44 billion to $103 billion after RIL’s stock price hit all-time highs. Mukesh Ambani’s net worth has increased by $13.3 billion so far this year, making him the third biggest wealth creator among the 10 richest people in the world in 2022.

RIL shares outperform benchmark Sensex, boost Ambani’s net worth

RIL shares have gained 16% so far in 2022 against BSE Sensex’s 2.7% drop. The stock has generated positive returns every year since 2015. Over the past year, RIL stock has generated returns of 46% for investors. By comparison, the Sensex jumped 19.6%, meaning RIL shares outperformed the benchmark by a margin. The jump in RIL’s stock price in the previous session came after Morgan Stanley raised the target price of Reliance Industries stock by 20% as the conglomerate eyed the global blue hydrogen crown. The brokerage sees RIL shares rise 50% from their Wednesday closing price over the next 12 months, as it believes the market has yet to deliver value to new green energy initiatives.

Ambani remains Bloomberg’s second richest Indian, as well as the Forbes billionaires list, behind Gautam Adani. As of April 22, 2022, Ambani had a net worth of $105.2 billion, according to Forbes. Meanwhile, the Bloomberg Billionaires Index shows Ambani’s net worth at $103 billion (Rs 7.8 lakh crore).

Mukesh Ambani, who remained the richest Indian on the list for several years, now occupies the 9th place in the world ranking. Meanwhile, Gautam Adani remains the richest Asian and Indian in the world. Adani is currently the 6th richest person in the world and his wealth keeps growing. After debuting on the Global Billionaires List on April 2, his net total rose to $119 billion, compared to Ambani’s $103 billion, according to Bloomberg Billionaires Index.

The Bloomberg Billionaires Index measures personal wealth based on changes in stock markets, the economy and other reports.

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