Indian billionaires see wealth increase; Mukesh Ambani back to $100 billion club: Report

The wealth of the country’s billionaires has skyrocketed as a result of the robust surge in Indian stock markets that began in mid-March and the return of foreign investors. This has also helped Mukesh Ambani, the chairman of Reliance Industries, whose wealth has surpassed $100 billion once more, and has been added to the top 16 list of the world’s richest people.

According to a Bloomberg report, Ambani’s wealth had fallen to $81 billion in early March, but a sharp gain of 25 per cent and 29 per cent, respectively, in shares of Reliance Industries and Jio Financial Services thereafter boosted his wealth by nearly $20 billion.

However, his net worth is still about 20 per cent below its all-time high of $120.8 billion recorded in July 2024.

Other industrialists in India whose wealth increased

Dilip Sanghvi of Sun Pharmaceuticals and Sunil Mittal of Bharti Airtel have seen their wealth increase by more than $4.9 billion since March. Their wealth is now $28.8 billion and $27.4 billion, respectively. Dilip Sanghvi is just 10 per cent behind his record, and Sunil Mittal is just 1 per cent behind.

DMart founder Radhakishan Damani, OP Jindal Group chairperson Savitri Jindal, and HCL Technologies founder Shiv Nadar also made good gains. Their assets have reached $31.7 billion, $36.4 billion, and $22.8 billion, respectively. However, these are still down 27 per cent, 16 per cent, and 18 per cent, respectively, from their record highs.