Unable to update value globally?

I'm trying to automatically update a nametag so each player's tag shows their corresponding values. The issue is that when it updates the value, only you can see your value change, and everyone else has, "Loading..." above them. The reason why only you can see your name change is that I was using a Local Script. I tried using a Script thinking this would solve the problem, but you can't get the local player in a Script.

UpdateText Script

local player = game.Players.LocalPlayer

local statsFolder = player:WaitForChild("Leaderstats", 100)
local rank = statsFolder:WaitForChild("Rank")

local text = script.Parent

text.Text = "Rank "..rank.Value

rank.Changed:Connect(function()
	text.Text = "Rank "..rank.Value
end)

I tried wrapping it around a game.Players.PlayerAdded Function,

game.Players.PlayerAdded:Connect(function(player)
	local statsFolder = player:WaitForChild("Leaderstats", 100)
	local rank = statsFolder:WaitForChild("Rank")

	local text = script.Parent

	text.Text = "Rank "..rank.Value

	rank.Changed:Connect(function()
		text.Text = "Rank "..rank.Value
	end)
end)

But this didn't work...

Please help!