Mukesh Ambani Reclaims Title of Asia's Richest Man, Surpassing Gautam AdaniMukesh Ambani, Reliance Industries Limited chairman, reclaimed Asia’s wealthiest person position, surpassing Adani Group Chairman Gautam Adani on the back of the significant rally seen in the shares of Reliance Industries.
Holding $102 billion, with nearly $3 billion added to his net worth in the span of 24 hours, Mukesh Ambani was included in the $100 billion club in the Bloomberg Billionaire Index with 12 others, including Elon Musk, Bill Gates, Mark Zuckerberg, and Jeff Bezos, and also became India’s richest man once again.
Reliance Industries Limited (RIL) shares had risen 22 percent from a low in October 2023 after releasing its quarterly results, making Mukesh Ambani $2.8 billion richer in a day after trailing Gautam Adani on the Bloomberg Index just a week ago. Ambani holds a 42 percent stake in Reliance Industries.
Reliance Industry’s market capitalization on Thursday crossed Rs. 18 lakh crores, with its shares seeing a 3 percent intraday surge and a 12 percent monthly surge. The other stock that significantly contributed to Mukesh Ambani’s increasing wealth is Jio Financial Services (JFSL), which saw a 4.6 percent rise to Rs. 251.50.