Mukesh Ambani is one of the world’s wealthiest people, with a net worth that has been consistently increasing over the years. As of May 2024, his net worth is estimated to be around $111.5 billion, making him the 11th richest person in the world and the richest person in India. He is the chairman and managing director of Reliance Industries, a diversified conglomerate with interests in various sectors such as petrochemicals, oil and gas, telecom, retail, and financial services.
Ambani’s net worth has been on the rise due to the success of Reliance Industries, which has seen significant growth in recent years. The company has been expanding its reach in various sectors and has made several strategic acquisitions to strengthen its position in the market. Additionally, Ambani has been investing heavily in new ventures such as Jio Platforms, which has been a major success in the Indian telecom sector. The company has been able to attract a large number of customers and has disrupted the market with its affordable plans and high-speed internet services.
Despite his immense wealth, Ambani is known to be a relatively low-key person who prefers to keep his personal life private. He is a philanthropist and has been involved in several charitable initiatives, including the Reliance Foundation, which focuses on education, health, and rural development. Ambani’s net worth is expected to continue growing in the coming years as Reliance Industries expands its reach and diversifies its portfolio.
Mukesh Ambani Net Worth Overview
Current Net Worth
Mukesh Ambani is the chairman and managing director of Reliance Industries Limited, which is a conglomerate with interests in petrochemicals, refining, oil, and gas exploration. As of June 13, 2024, Mukesh Ambani’s net worth is $101.8 billion according to Bloomberg Billionaires Index.
Net Worth Evolution
Mukesh Ambani’s net worth has seen a significant increase in recent years. In 2023, he reclaimed the top spot on the Forbes India Rich List with a net worth of Rs 765,348 crore, which is approximately $108 billion according to Celebrity Net Worth. In January 2024, his net worth climbed above $100 billion, making him once again a centibillionaire according to Bloomberg.
Mukesh Ambani’s net worth has been on a steady rise due to the growth of Reliance Industries Limited. The company has seen a significant increase in revenue, which reached $110 billion in 2024 according to Forbes. The company has also been expanding its reach into new sectors, such as e-commerce and digital services, which has contributed to its growth.
Overall, Mukesh Ambani’s net worth is a reflection of his success as a businessman and his contributions to the growth of Reliance Industries Limited.
Sources of Wealth
Reliance Industries
Mukesh Ambani is the chairman and largest shareholder of Reliance Industries, a conglomerate with interests in petrochemicals, refining, oil, and gas exploration. According to Forbes, Reliance Industries is the most valuable company in India, with a market capitalization of $214 billion as of June 2024. The company’s revenue for the fiscal year ending March 2024 was $96 billion, and its net income was $9.2 billion.
Ambani’s stake in Reliance Industries is the source of most of his wealth, accounting for approximately 90% of his net worth. As of June 2024, Ambani’s net worth is estimated to be $116 billion, making him the richest person in India and one of the wealthiest people in the world.
Other Investments
In addition to his stake in Reliance Industries, Ambani has made several other investments that have contributed to his net worth. According to Investopedia, Ambani has invested in companies such as EIH Limited, a hospitality company, and De Beers, a diamond mining company. He has also invested in startups such as Vayana Network, a digital lending platform, and Haptik, an artificial intelligence-based chatbot platform.
Real Estate Holdings
Ambani’s real estate holdings also contribute to his net worth. He owns a 27-story home in Mumbai called Antilia, which is valued at approximately $2 billion. The home features amenities such as a health club, a ballroom, and a 50-seat movie theater. Ambani also owns several other properties in Mumbai and other cities in India.
In summary, Mukesh Ambani’s net worth is primarily derived from his stake in Reliance Industries, which is the most valuable company in India. He has also made several other investments and owns a significant amount of real estate, including his $2 billion home in Mumbai.