Ambani joins USD100 Billion Club
The richest person in Asia, Mukesh Ambani, is now ranked amongst the world’s richest, along with Amazon’s Jeff Bezos and Tesla’s Elon Musk.
Source: Reuters
Asia’s richest person, Mukesh Ambani, now with a net worth surpassing USD100 billion, joins the ranks of the world’s richest people, along with Amazon’s Jeff Bezos and Tesla’s Elon Musk.
According to the Bloomberg Billionaires Index, Ambani, the chairman of India’s Reliance Industries, joins a select group of 11 as the value of his companies climbed to a record high on Friday — taking his worth to USD100.6 billion with his wealth increasing by USD23.8 billion this year alone.
After inheriting oil-refining and petrochemicals businesses from his late father’s empire in 2005, the 64-year old Ambani has been vying to transform his energy giant into a retail, technology and e-commerce leader. With a planned investment of about USD10 billion over three years, Ambani unveiled a bullish push into green energy in June 2021 — his company would “aggressively” pursue production of cheaper green hydrogen, Ambani recently said.
His telecommunications unit, started in 2016, is now the dominant carrier in the Indian market. His retail and technology ventures raised about USD27 billion in 2020; selling stakes to investors ranging from Facebook Inc. and Google to KKR & Co. and Silver Lake.
Ambani’s energy business ambitions align with Prime Minister Narendra Modi’s outlook of turning India into a global manufacturing hub for cleaner fuel to combat climate change, while also slashing energy imports by the world’s third-biggest oil consumer.
Amongst Ambani's companies are:
Reliance Retail
One of India’s leading retail players encompassing Reliance Fresh, Reliance Digital, eCommerce platform Ajio, Reliance Jewels and Reliance Trends.
Reliance Life Sciences
The research driven Reliance Life Sciences’ focus is in biotherapeutics, pharmaceuticals, clinical research services, regenerative medicine and molecular medicine.
Reliance Jio Infocomm Limited
One of the largest mobile networks in India offering high-speed internet and coverage across India through 4G networks and fiber services — in 2019, Reliance Jio branched out into fiber to home broadband, television and gaming.
Reliance Petroleum
Among the world’s leading petroleum companies, Reliance Petroleum provides high-speed diesel, petrol, auto LPG, lubricants, aviation fuel and packed LPG — also catering to two-wheelers, aeroplanes, farm equipment and heavy engineering vehicles.
Network 18
Some of the more prominent publications under the Network18 group include Forbes India, Moneycontrol, News18, Overdrive and CNBC TV18.
Football Sports Development Limited
A collaboration between IMG and Reliance Industries — Football Sports Development Limited owns the Indian Super League, India’s premium football championship that currently consists of 11 football clubs including Bengaluru FC, Chennaiyan FC, ATK Mohun Bagan, FC Goa and more.
Reliance Industries also owns the cricket team Mumbai Indians.
Reliance Industrial Infrastructure Limited
Among the largest infrastructure companies in the country the venture sets up and operates industrial infrastructure and provides services of transportation of petroleum products, raw water, services related to data processing and computer software.
