Thursday, April 18, 2024

Mukesh Ambani regains $100 billion net worth milestone with RIL share surge


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Shillong, January 12: Reliance Industries Limited (RIL) chairman, Mukesh Ambani, rejoins the exclusive $100 billion club following a significant upswing in the conglomerate’s shares.

As per India Today, climbing to the 12th position on the Bloomberg Billionaires Index, Ambani’s wealth soared by $2.76 billion in a single day, surpassing Gautam Adani as Asia’s wealthiest individual. The surge in Reliance shares, marking a $5.47 billion increase in Ambani’s net worth this year, correlates with a nearly 3% rise in RIL shares over the last five trading sessions.

The total market capitalization of RIL now stands at Rs 18.40 lakh crore, registering a noteworthy 12% surge in the past month. The recent boost in Ambani’s wealth is attributed to the performance of the demerged NBFC, Jio Financial Services (JFSL), which observed a 4.6% gain, closing at Rs 251.50 on the Bombay Stock Exchange.

Ambani’s portfolio witnessed positive momentum across various entities. Network18 Media Investment Ltd experienced a 10% increase, closing at Rs 130.81, displaying a remarkable 45% rally in 2024. TV18 Broadcast Ltd concluded on a higher note with over 20% gain in the last five trading sessions, achieving a market capitalization exceeding Rs 11,100 crore. Additionally, Reliance Industrial Infrastructure Ltd (RIIL) recorded a gain of over 7.2% at Rs 1515.65, reflecting a 35% increase in the past month.

While Elon Musk retains the top position with a wealth of $212 billion, Ambani’s resurgence places him at the forefront of Asian billionaires. Jeff Bezos follows with $180 billion, and Bernard Arnault holds the third position with $164 billion. Among Indian billionaires, Gautam Adani ranks 14th with a total wealth of $96.2 billion.


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