Indian Business Tycoon Mukesh Ambani Slips Two Ranks on Global Billionaire List

New Delhi (Sputnik): India’s Reliance Industries has been on a fundraising spree since April. Beginning with Facebook’s $5.8 billion purchase of a 9.9 percent stake in Reliance’s telecom platform Jio in April, the company has raised $15.33 billion from fourteen global investors in the last four months. 

India's ace industrialist Mukesh Ambani, the chairman and managing director of Reliance Industries, has slipped two ranks on the list of global billionaires to become the sixth richest person. He was previously in fourth place. 

According to the Bloomberg Billionaire Index, Ambani slipped to sixth as his net worth suffered a decline of $776 million to $78.8 billion since the valuation of his company slipped, as shares fell on Indian bourses on Monday. 

Reliance shares took a knocking on Indian bourses as India's apex court is adjudicating a matter pertaining to statutory obligations by telecom companies.

The court is to adjudicate whether RIL needs to be paid to the government. The payment is to the tune of $3.3 billion.

On the billionaire index, French businessman and art collector Bernard Arnault is fifth with a net worth of $84.6 billion, while Tesla's Elon Musk is in fourth with a net worth of $84.8 billion and Facebook's Mark Zuckerberg is third with a net worth of $99 billion.

The top position is occupied by Amazon chief Jeff Bezos with a net worth of $188 billion, followed by Microsoft Founder and philanthropist Bill Gates in second with a fortune of $121 billion.