Ambani back in the big leagues: Billionaire re-enters $100 billion club after surge in Reliance stock

Mukesh Ambani has once again entered the $100 billion club. Asia's richest person Mukesh Ambani saw his wealth climb $2.8 billion to $101.8 billion on Thursday. This, as Reliance Industries rose 2.6% to close at a record high on Thursday.

The total market capitalisation of the company stood Rs 18.40 lakh crore mark. The stock is up 5% in the last two trading sessions, while it has gained 12% in the last one month. As per Bloomberg Billionaires Index, Ambani has returned to the club for the first time since June 2022. Ambani is also the 12th richest in the World.

Reliance Industries' Performance

Mukesh Ambani owns 42% of the company which has businesses in energy, telecommunication and tech among other sectors. After the company reported a jump in their quarterly profit, the company shares have climbed 22% from its low in October.

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Shares of Reliance Industries gained about 3% to Rs 2,725 during Thursday's trading session, before eventually settling at Rs 2,718, up 2%. Meanwhile, the recently demerged NFBC Jio Financial Services gained over 4.6% to close Rs 251.50 on Thursday, with a total market capitalisation close to Rs 1.6 lakh crore on BSE.

Bloomberg's Billionaire List

Elon Musk continues to be the richest person in the world with $212 billion net worth, although his wealth came down by $17 billion since the beginning of 2024. He is followed by Amazon's Jeff Bezos ($180 billion) and French business magnate Bernard Arnault ($164 billion). Among Indians, Gautam Adani is at 14th spot with a total wealth of $96.2 billion.