Mukesh Ambani re-enters elite $100 billion club as Reliance shares rally

Reliance Industries’ Chairman Mukesh Ambani, the richest man in India and in Asia, saw his wealth climb $2.8 billion to $101.8 billion on Thursday, as shares of his jumped 2.6 per cent to close at a record high. According to Bloomberg Billionaires Index, Ambani returned to the $100-billion club for the first time since June 2022. At 12.10 am on Friday, shares of Reliance were trading at Rs 2,727.90 apiece, 0.35 per cent on the BSE.

According to the report, Ambani owns 42 per cent of the conglomerate, which has businesses in the energy, telecommunications, and retail sectors, among others. Shares have climbed 22 per cent from a low in October after the company reported a jump in quarterly profit.

Ambani (66) is the 12th-richest person in the world, ahead of L'Oreal heir Francoise Bettencourt Meyers.