Reliance Industries reported a 24 per cent surge in its revenue to $67 billion, making Ambani the only Asian making it to the list of top 10. Ambani’s wealth increased mainly on the back of a good performance in his telecoms business.
Google co-founders, Sergey Brin and Larry Page, made it to the list for a second year running, with their net worth up 26 per cent each to $68 billion and $67 billion, respectively.
Down one place, Carlos Slim Helu has secured seventh position this year, with $72 billion. Helu’s fortune largely stems from telecommunications company America Movil and Grupo Carso, a holding company that engages in the retail, industrial, and construction business. Besides, Helu is also a significant shareholder of the New York Times and financial conglomerate Citigroup.
Amancio Ortega of Inditex, world's largest fashion firm, including chains like ZARA, is placed sixth this year, on the back of a massive $25 billion increase to $81 billion. Ortega acquired commercial property worth $11 billion of prime shopping real estate in London and New York using dividends from Inditex.
Facebook CEO, Mark Zuckerberg’s revenue has reported a spike of $4 billion, keeping him in fifth place with $84 billion net worth.
One of the most successful investors of all time, Warren Buffett dropped one place to fourth spot, amid the coronavirus pandemic. A recent SEC filing shows that Buffett’s firm Berkshire Hathaway is investing money into defence stocks that are relatively immune from negative economic growth.
Similarly, Bill Gates dropped to third position on the list, with a net worth of $106 billion, despite an addition of $10 billion to his revenue. Last month, Gates announced a $100-million commitment to fight coronavirus which has triggered a global health emergency.
Despite major business grappling with pandemic, Bernard Arnault, man behind an empire of 70 brands including likes of Louis Vuitton and Sephora, continued his meteoric rise, securing the second place on the list with $107 billion, up $21 billion over last year. Arnault in November announced a deal to acquire Tiffany for $16 billion to get more access to US luxury consumers.
Amazon CEO, Jeff Bezos, retained the top spot on the list with $140 billion, down $7 billion last year, mainly due to the world’s largest divorce settlement with former wife MacKenzie Bezos, who makes the list in her own right with $44 billion. Amazon is one of four companies, whose valuations have hit $1 trillion, the others being Microsoft, Apple and Google.