Mukesh Ambani entered the rarefied group of 11 men, including Jeff Bezos and Elon Musk as his conglomerate’s stock climbed to a record on Friday.
Mukesh Ambani, Asia’s richest person, joined Jeff Bezos and Elon Musk in the world’s most exclusive wealth club with a fortune of at least $100 billion.
The chairman of India’s Reliance Industries Ltd. 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, according to the Bloomberg Billionaires Index, after his wealth increased by $23.8 billion this year.
Since inheriting the oil-refining and petrochemicals businesses of his late father’s empire in 2005, 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.