Reliance Industries Limited's Stock Hits A New Lifetime High, Mukesh Ambani Enters $100 Billion Club

Mumbai: Mukesh Ambani's net worth has reportedly crossed the $100-billion mark after the stocks of Reliance Industries Limited (RIL) hit a new high.

On September 6, it was reported that RIL has gained more than 3 per cent and therefore its stock hit a new high record. This happened after its subsidiary acquired a major stake in the genomic testing firm, Strand Life Sciences, for Rs. 393 crores.

This lead to Mukesh Ambani entering the $100 billion club on Monday, after the value of his family stake in the giant business company went up with the increase in the share price.

According to Bloomberg Billionaires Index, the net worth of the business tycoon on September 6 was $92.60 billion. His net worth was $10 billion short of Warren Buffett's net worth which was $102.6 billion.

As per reports, Ambani's company is also set to acquire a controlling stake in T-Mobile Netherlands BV, which is also the largest telecom operator in the country, in a $5.7 billion non-binding offer.

There are also reports making rounds about  Saudi Aramco acquiring about a 20 per cent stake in RIL's oil refining and chemicals business.

Apart from this, BSE Sensex and Nifty 50 also hit a high record in stock price on September 6. BSE Sensex and Nifty have gone up to 7% while RIL has gained over 17% in the last month.

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