Mukesh Ambani regains his ‘richest Indian’ crown with $104.4 billion fortune

• after a short period of time Mukesh Ambani came back to richest indian.
• The general manager of Reliance Industries has confirmed that his company’s market capitalization has surged by more than 25% in the past three months.
• Meanwhile, Mukesh Ambani’s rival Gautam Adani saw the value of his group of companies fall by more than 16%.

Mukesh Ambani became the richest Indian once again, beating rival Gautam Adani, who had been in second place for several weeks. Gautham Adani was India’s richest man after Adani Group’s share price surged in recent months. Now Mukesh Ambani is back in the number one position.

Ambani’s return to the top spot was driven by a rebound in Reliance Industries’ share price, which has risen more than 25% since early March.

According to Forbes rich list, Mukesh Ambani’s fortune is at $104.4 billion, an increase of $6.2 billion in the past day. Gautam on the other hand, his Adani assets were his $100.7 billion.

According to the Bloomberg Billionaires Index, Ambani had assets of $99.7 billion and Gautam Adani had assets of $98.7 billion. Adani currently stands in 9th place. A little over a month ago, he tied Bill Gates as the fourth richest person in the world.

Just a few days ago, Adani was dropped from the $100 billion club. Since its peak, Adani has lost nearly $25 billion of his fortune, but he still has ten times more fortune than he did two years ago.

Mukesh Ambani added $2 billion in average monthly assets in 2022

According to Forbes, Mukesh Ambani is the sixth richest person in the world, adding $10 billion to his fortune in the first five months of 2022.

Born in Yemen, Ambani took over the reins of Reliance Industries after the death of his father, Dhirubhai Ambani, in 2002. Since then, Reliance Industries’ share price has skyrocketed from INR 42 to INR 2,800 today, with several bonus shares and stock splits during this period.

Both Adani and Ambani run conglomerates with interests in multiple sectors within and outside of India. Ambani’s interests include energy, telecommunications, retail and media. He also seeks to expand his interest in high-end technological innovations that can transform both his consumer facing businesses.

Adani, on the other hand, has strengthened his FMCG brand with a legacy of power, infrastructure, and recently added cement and media to his many holdings.

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