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HomeBusinessMukesh Ambani Reclaims 'Richest Indian' Tag; Beats Gautam Adani

Mukesh Ambani Reclaims ‘Richest Indian’ Tag; Beats Gautam Adani


Mukesh Ambani, the chairman and managing director of Reliance Industries Limited (RIL), has regained the tag of richest person in India, beating his rival Gautam Adani. With a net worth of $104.7 billion, Ambani is now at the sixth position on the list of top 10 wealthiest people in the world, showed Forbes rich list. Reliance chairman added $10 billion to his wealth in the first five months of 2022. Adani now stands at the ninth place. His net worth is $100.5 billion, according to the list.

Mukesh Ambani is at the eight position with a net worth of $99.7 billion, according to Bloomberg Billionaire Index.With $98.7-billion net worth, Adani has slipped to the ninth spot. He was tied with Bill Gates as the fourth richest person in the world, a month back. Since then, he has lost over $26 billion as his group company shares had witnessed a correction.

Reliance Industries also touched Rs 19-lakh-crore market capitalisation on Friday as the stock had extended rally. The shares of Reliance Industries increased over 3 per cent to Rs 2,816.35 on Friday. In the last two weeks, RIL stock has gained around 14 per cent.

In March quarter, Reliance Industries reported a 22.50 per cent year-on-year (YoY) increase in consolidated net profit to Rs 16,203 crore. It was at Rs 13,227 crore in the same quarter last year. Revenue from the operation rose 36.79 per cent year-on-year to Rs 211,887 crore against Rs 154,896 crore in the corresponding quarter last year.

Network18 and TV18 – the companies that operate – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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