Mukesh Ambani – First Indian and second non-American in the USD 100 billion club

In India, Mukesh Ambani continues to be the richest man for the 10th consecutive year with a wealth of Rs 7,18,000 crore. On average, daily wealth creation velocity since 2020 is Rs 163 crore which made him around Rs 60,000 crore in the last year, a nine per cent rise in his wealth

Indian business magnate Mukesh Ambani is well on his way to join the extremely exclusive club with a net worth of USD 100 billion or more to their name. Ambani would be the 11th current member, first Indian and second non-American in the club in its present form. 

The Bloomberg Billionaires Index showed Ambani at a net worth of USD 101 billion on October 11, and while he had descended back to USD 99.7 billion on October 12 the overall upward trend of his wealth suggests that he will become a stable member of the wealthy list. 

Ambani’s family have about 50 per cent shareholding in Reliance Industries. Recently, Reliance Industries has become the first Indian company to cross the USD 200 billion (Rs 15 lakh crore) market cap driven by retail and telecom operations. The share price has increased from Rs 1,987 to Rs 2,698 in 2021 which is 35 per cent up year-to-date (YTD) which increased his wealth significantly. 

In India, Mukesh Ambani continues to be the richest man for the 10th consecutive year with a wealth of Rs 7,18,000 crore. On average, daily wealth creation velocity since 2020 is Rs 163 crore which made him around Rs 60,000 crore in the last year, a nine per cent rise in his wealth. 

Ambani’s re-entry into the telecom industry in 2016 came through Reliance Jio, which has the major market share in terms of subscribers, a game-changer that revolutionized the digital era. 

At the company’s annual shareholder meeting in June, Mukesh Ambani outlined an ambitious plan to transform its legacy power business with a push into green energy, committing more than USD 10 billion over three years. Reliance intends to set up four giga factories to make solar photovoltaic modules, energy storage batteries, electrolyzer and fuel cells. The company plans to have 100 GW of solar energy by 2030. 

From time to time the form of business keeps on changing, but his ranking on the wealthy list remains the same.