Mukesh Ambani Joins Jeff Bezos, Elon Musk In World’s Exclusive $100 Billion Club
New Delhi: Chairman of Reliance Industries Ltd. Mukesh Ambani, joined Jeff Bezos and Elon Musk in the world’s most exclusive wealth club with a fortune of at least $100 billion.
According to the Bloomberg Billionaires Index, Mukesh Ambani entered the rarefied group of 11 men as his conglomerate’s stock climbed to a record on Friday. He’s now worth $100.6 billion, after his wealth increased by $23.8 billion this year.
Ambani, 64, has been seeking to transform the energy giant into a retail, technology and e-commerce titan. His telecommunications unit, which started services in 2016, is now the dominant carrier in the Indian market. His retail and technology ventures raised about $27 billion last year, selling stakes to investors ranging from Facebook Inc. and Google to KKR & Co. and Silver Lake.
Ambani unveiled an ambitious push into green energy in June, with a planned investment of about $10 billion over three years. And last month, the mogul said his company would “aggressively” pursue production of cheaper green hydrogen. The plan aligns with Prime Minister Narendra Modi’s ambitions of turning India into a global manufacturing hub for the cleaner fuel to combat climate change and slash energy imports by the world’s third-biggest oil consumer.
India’s billionaires are some of the largest gainers on the world’s rich list, as Asia’s best-performing major stock market this year gets a boost from a surge in initial public offerings.
On the other hand, Gautam Adani, founder of coal-power and renewable energy conglomerate Adani Group, has added $39.5 billion to his fortune this year, while the country’s third-richest person, technology tycoon Azim Premji, saw his wealth to grow by $12.8 billion.