Reliance Industries Chairman and Managing Director Mukesh Ambani has regained the top spot in Asia’s richest person list, dislodging fellow Indian industrialist Gautam Adani from the eighth spot in the world’s richest. Mr Ambani has a net worth of $99.7 billion according to the Bloomberg Billionaire Index. With a $98.7-billion net worth, Mr Adani has slipped to the ninth spot.
In the last 24 hours, the Bloomberg’s Billionaires Index, which tracks each billionaire’s net worth, said that Mr Ambani saw an increase in his wealth by $3.59 billion while Mr Adani added $2.96 billion to his net worth.
Shares of RIL were up three per cent at Rs 2,816.35 on the BSE in Friday’s trade, having rallied seven per cent in the past two trading days amid heavy volumes.
Reliance’s share has surged 6.79 per cent in a week. It has risen 16.61 per cent in 2022 and has delivered 27 per cent returns in the last year.
The rally comes on the back of the company’s March quarter performance where it 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.
Tesla and SpaceX founder Elon Musk sits comfortably at the top of the rich list, followed by Amazon’s Jeff Bezos.