Indian business tycoon Mukesh Ambani has entered the elite club of individuals who hold fortunes over $100 billion.
The chairman of Reliance Industries Ltd joins 10 men in the world’s most exclusive wealth club, as per the Bloomberg Billionaire Index. Elon Musk leads the list with a net worth of $222.1 billion, followed by Jeff Bezos with $190.8 billion. Louis Vuitton chief Bernard Arnault, Microsoft co-founder Bill Gates, Google’s Larry Page and Facebook chief Mark Zuckerberg are some of the other billionaires on the list.
According to the Bloomberg Billionaire Index, Mukesh Ambani, whose wealth increased by $23.8 billion this year, is now worth $100.6 billion.
Earlier this year, Ambani toppled Chinese business tycoon Jack Ma to become the richest Asian in the world. Ambani ranked 10 on Forbes’ 35th annual list of the world’s billionaires with a net worth of $84.5 billion. India’s second richest individual, Adani Group chairman Gautam Adani, ranked 24th on the Forbes list with a net worth of $50.5 billion.
Despite the pandemic, India's billionaire club grew to 237 last year, according to the recently announced IIFL Hurun India Rich List for 2021. Adani has earned $39.5 billion last year, the Bloomberg report showed. India’s third-richest individual, Azim Premji, added $12.8 billion to his fortunes last year.
“Mukesh Ambani is at the forefront of creating new businesses with new emerging technologies,” Chakri Lokapriya, chief investment officer at TCG Asset Management, told Bloomberg, adding that he demonstrated his capabilities by creating businesses of scale at speed.
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Apart from the oil-refining and petrochemicals businesses which he inherited from his father in 2005, Ambani has ventured into retail, technology and e-commerce. Last year, his retail and technology ventures raised nearly $27 billion through stake sales. In June this year, Ambani unveiled a plan to invest about $10 billion over three years in green energy.
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(Edited by : Jomy Jos Pullokaran)