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<ul><li>After a brief period, <keyword id="3820" type="General" weightage="80" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> is back to being the <keyword id="405464" type="General" weightage="20" keywordseo="richest-indian" source="Orion">richest Indian</keyword>.</li><li>The Reliance Industries’ honcho has seen his company’s market capitalisation surge more than 25% in the last three months.</li><li>Mukesh <keyword id="10924" type="General" weightage="100" keywordseo="ambani" source="Orion">Ambani</keyword>’s rival, Gautam Adani, on the other hand, has seen his group companies’ value decline by over 16%.</li></ul>Mukesh Ambani is the richest Indian once again, beating his rival Gautam Adani after several weeks of being in the second position. In the last few months, Gautam Adani had been India’s richest man after a massive surge in Adani Group company stocks. Now, Mukesh Ambani is back to the No.1 position. Ambani regaining the top position is driven by a rebound in the Reliance Industries stock – which is up by more than 25% since early March. <div type="image" title="Reliance Industries 08_03_22 to 03_06_22." msid="91977061" hostid="261" caption="&amp;lt;p&amp;gt;Reliance Industries share price&amp;lt;/p&amp;gt;"></div> According to the Forbes rich list, Mukesh Ambani’s wealth stood at $104.4 billion, gaining $6.2 billion in the last one day. On the other hand, Gautam Adani’s wealth stood at $100.7 billion. According to Bloomberg Billionaires Index, Ambani’s wealth stood at $99.7 billion, while Gautam Adani’s stood at $98.7 billion. Adani now stands at the 9th place – <a href="https://www.businessinsider.in/business/news/gautam-adani-is-now-as-wealthy-as-bill-gates/articleshow/91115934.cms">a little over a month ago, he was tied with Bill Gates as the fourth richest person in the world</a>. Just a few days ago, Adani crashed out of the $100 billion club. Since his peak, Adani has lost nearly $25 billion in wealth, but he still has <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-crashes-out-of-the-100-billion-club-but-still-is-10x-richer-than-he-was-2-years-back/articleshow/91807766.cms">10 times more wealth</a> than what he had two years ago. <cmsannotation type="cmsannotation" annotationid="Mukesh Ambani added an average of $2 billion wealth per month in 2022" comment="subhead" text="Mukesh Ambani added an average of $2 billion wealth per month in 2022">Mukesh Ambani added an average of $2 billion wealth per month in 2022</cmsannotation> According to Forbes, Mukesh Ambani is the sixth richest person in the world, adding $10 billion to his wealth in the first five months of 2022. Born in Yemen, Ambani took over the reins of Reliance Industries from his father Dhirubhai Ambani in 2002, after the latter passed away. Since then, the share price of Reliance Industries has surged from ₹42 to ₹2,800 today, with several instances of bonus shares and stock splits during the period. Both Adani and Ambani run conglomerates with interests across multiple sectors within and outside India. Ambani's interests include energy, telecom, retail and media. He is also looking to expand his interests in high-end tech innovation that can transform both his consumer-facing businesses. Adani, on the other hand, has been strengthening his FMCG brands with a legacy in power, infrastructure - and has recently added cement and media to the many interests that he holds. SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-sets-sights-on-defence-showcases-made-in-india-software-for-aircraft-design/articleshow/91959787.cms">Mukesh Ambani sets sights on defence – showcases Made in India software for aircraft design</a> <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-crashes-out-of-the-100-billion-club-but-still-is-10x-richer-than-he-was-2-years-back/articleshow/91807766.cms">Gautam Adani crashes out of the $100 billion club, but still is 10x richer than he was 2 years back</a> <a href="https://www.businessinsider.in/business/news/gautam-adani-is-now-as-wealthy-as-bill-gates/articleshow/91115934.cms">Gautam Adani is now as wealthy as Bill Gates – rally in Adani group</a>

Mukesh Ambani gets his ‘richest Indian’ crown back with a wealth of $104.4 billion

<ul><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s $72 billion net worth has made him the sixth richest person in the world. </li><li>He is now richer than Tesla founder <keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword> ($68.6 billion) and Google founders <keyword id="100155" type="PERSON" weightage="20" keywordseo="Larry-Page">Larry Page</keyword> and <keyword id="100154" type="PERSON" weightage="20" keywordseo="Sergey-Brin">Sergey Brin</keyword>. </li><li>Just four days ago, Ambani — who runs oil-to-telecom conglomerate Reliance Industries — had crossed stock legend Warren Buffet in the billionaires list. </li></ul>Mukesh Ambani is richer than ever. Indian tycoon Mukesh Ambani has become the sixth richest person in the world with his $72.4 billion fortun, beating Tesla founder Elon Musk ($68.6 billion) and Google founders Larry Page and Sergey Brin, <a href="https://www.bloomberg.com/news/articles/2020-07-14/ambani-s-wealth-beats-tech-giants-elon-musk-and-google-founders">reported Bloomberg.</a> Just four days ago, Ambani — who runs oil-to-telecom conglomerate Reliance Industries — <a href="https://www.businessinsider.in/business/news/mukesh-ambani-beats-warren-buffet-on-the-list-of-billionaires/articleshow/76896889.cms">became richer than stock legend Warren Buffet</a> after Reliance’s stock rallied in the market. Since then, Ambani has added $4.1 billion more to his wealth. Reliance share price has jumped by 25.8% since January — with analysts expecting a lot more gains in the near future. <div type="image" title="Mukesh Ambani net worth" msid="76955257" hostid="261"></div> The sudden surge in Ambani’s wealth since April is because his three-year-old telecom arm Reliance Jio <a href="https://www.businessinsider.in/business/news/mukesh-ambani-jio-fiber-and-reliance-invit-set-to-raise-over-1-billion-from-abu-dhabi-and-saudi-sovereign-funds-for/articleshow/76888352.cms">has raised more than $15.6 billion in the last four month</a>s from Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, Saudi PIF (Public Investment Fund) and more. Ambani is said to be in<a href="https://www.businessinsider.in/business/news/akash-ambani-was-the-one-to-choose-facebook-the-next-big-investments-for-reliance-jio-and-the-ideas-sold-to-investors/articleshow/76316650.cms"> talks with Google for a $4 billion investment in Jio.</a> He also <a href="https://www.businessinsider.in/business/news/reliance-is-net-debt-free-after-rs-1-69-lakh-cr-fund-raising-mukesh-ambani/articleshow/76456786.cms">declared that the $100 billion Reliance Industries is now net debt-free</a> a lot earlier than the target of March 2021. In the last decade, Ambani has doubled his wealth and in 2020, as India’s richest are losing money, Ambani is gaining more. According to Bloomberg, Ambani is slowly shifting his focus from energy to e-commerce. The next wave of growth and value for Ambani and Reliance’s shareholders is likely from the retail vertical. Reliance Retail is already the country’s largest chain and is now likely to get even bigger, as Asia’s richest man focuses on <a href="https://www.businessinsider.in/business/news/mukesh-ambani-next-goal-seems-to-be-the-retail-king-of-india/articleshow/76953716.cms">becoming India’s retail king</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-jio-fiber-and-reliance-invit-set-to-raise-over-1-billion-from-abu-dhabi-and-saudi-sovereign-funds-for/articleshow/76888352.cms">Mukesh Ambani is not done – Jio Fiber to get over $1 billion as Abu Dhabi and Saudi sovereign funds are set to invest in Reliance InvIT</a> <a href="https://www.businessinsider.in/thelife/news/9-mind-blowing-facts-that-show-just-how-wealthy-mukesh-ambani-the-richest-person-in-asia-really-is/articleshow/73671508.cms">9 mind-blowing facts that show just how wealthy Mukesh Ambani, the richest person in Asia, really is</a>

Mukesh Ambani’s $72 billion fortune makes him richer than Elon Musk and Google’s Larry Page and Sergey Brin

<ul><li>As of 11.30 am, Reliance Industries’ share price stood at ₹2,289. </li><li>The spike in Reliance shares comes after Abu Dhabi’s royal family’s fund – Abu Dhabi Investment Authority – said it was investing $750 million in <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>.</li><li>After raising over $20 billion for Jio Platforms, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> is currently on an investment spree for his retail venture.</li></ul>Reliance is on a roll again as its share price rose by almost 4% on Wednesday morning. As of 11.30 am, Reliance Industries’ share price stood at ₹2,289. After raising over $20 billion for Jio Platforms, Mukesh Ambani is currently on an investment spree for his retail venture. Reliance’s share price has jumped by over 159% since March 23. <div type="image" title="RIL share price mar-oct" msid="78528829" hostid="261"></div> The spike in Reliance shares comes after Abu Dhabi’s royal family’s fund – Abu Dhabi Investment Authority – said it was investing <a href="https://www.businessinsider.in/business/news/reliance-retail-secures-750-million-from-adia-mukesh-ambani-has-now-raised-over-5-billion-for-retail-alone/articleshow/78517289.cms">$750 million</a> in Reliance Retail. This is the eight investment that Reliance Retail has raised in the last four weeks. Ambani has now raised a total of ₹37,710 crore or $5.1 billion for his retail venture from marquee investors Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG, and ADIA. So far, Mukesh Ambani has sold 8.47% stake in Reliance Retail – which is India’s largest retail chain with over 12,000 stores across 6,700 cities. This market rally has also helped Ambani become the 6th richest person in the world, with a total wealth of $84.8 billion, according to the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index.</a> SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-retail-secures-750-million-from-adia-mukesh-ambani-has-now-raised-over-5-billion-for-retail-alone/articleshow/78517289.cms">Reliance Retail secures $750 million from ADIA – Mukesh Ambani has now raised over $5 billion for retail alone</a>

Reliance share price soars as Mukesh Ambani continues with his fundraising blitzkrieg for retail venture

Reuters/Amit Dave <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> gets approximately $31,202 richer every minute. <ul class="summary-list"><li>Indian businessman Mukesh Ambani is <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">worth about $60 billion</a>, making him the richest person in India and all of Asia.</li><li>Forbes ranked <a href="https://www.forbes.com/sites/gracechung/2017/11/14/asia-richest-billionaire-families-2017-ambani-lee-kwok/#40d2fec62655">the Ambanis the richest family in Asia</a> in 2017.</li><li>Ambani, the chairman and largest shareholder of oil-to-telecom conglomerate Reliance Industries, is almost four times richer than <a href="https://www.forbes.com/profile/shiv-nadar/?list=rtb/">the second-richest person in India</a>.</li><li>Ambani and his family live in <a href="https://www.businessinsider.com/most-expensive-home-in-the-world-2014-5">a 27-story skyscraper in Mumbai</a> that cost an estimated $1 billion to build, which would make it one of the most expensive homes anywhere in the world.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Mukesh Ambani has been <a href="https://www.businessinsider.com/wealthy-indians-losing-money-mukesh-ambani-getting-richer-2019-10">India's richest person for 12 years</a> in a row. He's also the richest person in all of Asia, according to both Forbes and Bloomberg. The Indian businessman, the chairman and majority shareholder of <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">$100 billion conglomerate Reliance Industries</a>, is <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">worth about $60 billion</a>, making him the 14th-richest person in the world. Ambani's wealth has more than doubled in the past 10 years, and he continued to grow richer in 2019 even as most of India's richest people lost money. Here are nine mind-blowing facts that show just how wealthy Asia's richest man really is.

9 mind-blowing facts that show just how wealthy Mukesh Ambani, the richest person in Asia, really is

<keyword id="3820" type="General" weightage="100" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, Chairman and Managing Director, Reliance Industries, has been appointed as the member of <keyword id="223206" type="General" weightage="80" keywordseo="advisory-committee" source="Orion">Advisory Committee</keyword> to the President of the 28th Session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC). Mukesh Ambani joined other important global leaders on the COP28 Advisory Council such as Larry Fink, Chairman and CEO of BlackRock, Olafur Grimsson, Chairman of Arctic Circle (Former President of Iceland), Laurent Fabius, President of COP21 / Paris Agreement, Former Prime Minister of France, Francesco La Camera, Director General, International Renewable Energy Agency (IRENA), Bob Dudley, Chair of the Oil &amp; Gas Climate Initiative (OGCI), former CEO of BP. Mukesh Ambani is the only Indian, other than <keyword id="111359" type="General" weightage="50" keywordseo="sunita-narain" source="Orion">Sunita Narain</keyword>, Director General, Centre for Science and Environment, on the Advisory <keyword id="47865" type="General" weightage="80" keywordseo="committee" source="Orion">Committee</keyword> to the President of COP28. The COP28 UAE Advisory Committee brings together the climate expertise of thought leaders from countries across six continents. Representing policy, industry, energy, finance, civil society, youth, and humanitarian action, the 31 members of the Committee, of which 65 per cent are from the Global South, will provide guidance and counsel to the COP Presidency in the run up to COP28 and beyond. The UNFCCC Secretariat announced in January 2023 appointed <keyword id="2021753" type="General" weightage="50" keywordseo="sultan-ahmed-al-jaber" source="Orion">Sultan Ahmed Al Jaber</keyword>, Minister of Industry and Advanced Technology and UAE Special Envoy for Climate Change, as COP 28 President-Designate. UAE has been chosen to host the 28th session of the Conference of Parties (COP 28) to the UNFCCC (United Nations Framework Convention on Climate Change) from November 30, 2023 to December 12, 2023. It will be held at Dubai Expo City. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/lic-shares-surge-over-3-after-it-posts-a-five-fold-jump-in-q4-net-profit/articleshow/100495712.cms">LIC shares surge over 3% after it posts a five-fold jump in Q4 net profit</a> <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-titan-eicher-motors-tata-motors-reliance-and-other-big-companies-performance-in-nifty-50/articleshow/100474408.cms">Big boys drive Nifty50’s revenue and profit growth in FY23</a> <a href="https://www.businessinsider.in/business/corporates/news/gqg-partners-rajiv-jain-doubles-down-on-his-adani-bet/articleshow/100450041.cms">GQG Partners’ Rajiv Jain doubles down on his Adani bet</a>

Mukesh Ambani joins COP28 Advisory Committee

<keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, the richest man in the country, can teach a lesson or two to everyone, especially budding entrepreneurs. But since, he is busy raking in the moolah, BI India decided to pick up five lessons that he can teach all. 

	Dream big!
 The man inherited his father and India’s iconic business leader <keyword id="6418409" type="PERSON" weightage="20" keywordseo="Dhirubhai-Ambani">Dhirubhai Ambani</keyword>’s genes when it comes to dreaming big. In 90s, Ambani, then in his 30s, had dreamt of becoming the largest producer of polyester fibre and yarn in the world and he actually did it. Today, RIL is the largest producer of polyester fibre and yarn in the world, with a capacity of 2.5 million tonnes per annum, beating the traditional producers from South Korea and Taiwan, who had dominated the business since 1970s. 

	Do more, say less!
 The quote by Israelmore Ayivor is apt for Mukesh Ambani. The 57 year old likes to keep a low profile. He isn’t keen on social dos and neither is he voicing opinions on important economic issues at events such as the World Economic Forum. But still, he is one of the most talked about personalities in the country. Ambani’s focus has always been his business and this entrepreneur is credited for the creation of the world’s largest <keyword id="84980" type="ORGANIZATION" weightage="20" keywordseo="petroleum">petroleum</keyword> refinery at Jamnagar in Gujarat besides other successful ventures. Need we say more? 

	Depend on no one!
 

	A feudal style of management is not the mantra today. And Mukesh Ambani realised it even before feudalism was out of the system. Ambani in an interview had said that he did not want “people carrying their wisdom in notebooks as if it some kind of secretive operations”. While he has a trusted team of a few people, who have played a pivotal role in the growth of his empire , Ambani has always emphasized on the importance of being involved in one’s own business. Well, no wonder he managed to create an empire with net worth of Rs1,76,766 crore in 2012-13.
 

	Don’t panic, stay strong!
 

	Mukesh Ambani joined his father’s business at a very young age. While he was still learning the nuances of the business, he lost his uncle and his father’s business partner Rasikbhai in 1986. This was followed by Dhirubhai Ambani’s stroke within five months of his uncle’s death. Ambani then had to take his father’s place and steered the company forward at a time when India still had Licence Raj.
 

	Keep your eyes open
 

	Mukesh Ambani keeps his eyes wide open when it comes to hunting for new ventures. During the announcement of Reliance Jio initiative, Ambani had clearly said, “Today I see a billion people as a billion potential consumers, an opportunity to generate value for them and to make a return for myself”. With start-ups mushrooming in the country, Ambani has now turned his eye at it and will soon be seen mentoring technology start-ups that spawn billion-dollar businesses in the country.

5 Lessons Entrepreneurs Should Learn From Mukesh Ambani

<ul><li><keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> through its Softbank Vision Fund is reportedly looking to pump in $2-3 billion in <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Jio. </li><li>This move comes in as an attempt to deleverage the business as Jio has been grappling under debt while boosting its infrastructure.</li></ul>For India’s biggest startups – Paytm, Oyo, Policybazaar, among others – Softbank has almost always been a one-way ticket for the unicorn club. But SoftBank’s Chairman and CEO Masayoshi Son’s next bet may be the ‘startup’ from the country’s richest man. But does Mukesh Ambani really need Softbank’s money? Instead of betting on ‘internet’ entrepreneurs, Son may be looking to bet on the company that is at the centre of India’s digital revolution, <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>. India’s most talked about telecom network – Reliance Jio – is <a href="https://www.firstpost.com/business/softbank-may-invest-2-3-bn-in-reliance-jio-as-mukesh-ambani-looks-to-deleverage-business-6505361.html">reportedly</a> in talks with Japanese investment firm Softbank for an investment. The Economic Times report said that the Softbank Vision Fund may pump in $2-3 billion in Mukesh Ambani’s Jio. Then again, why does one of India’s most-valuable companies need such huge fund infusion? Jio reported a debt of ₹76,212 crore at the end of the March 2019 quarter. Much of it had piled up in making Jio the force it is today. 

 
 
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 However, Reliance’s telecom business needs more money to boost its infrastructure. So, with Softbank coming on board, it would be able to deal with a large amount of the current debt without compromising on the investment required to sustain the growth. “The debt in their balance sheet has been created for the purpose of building infrastructure for fibre and telecom towers. They would have the wisdom to deleverage the balance sheet and bring down their debt, capitalize the opportunity,” Deven Choksey, CEO &amp; MD, K.R. Choksey Shares &amp; Securities Private Ltd. told Business Insider. Choksey also believes that it’s a win-win for all – Softbank, Reliance and its shareholders. Softbank, which so far in India has been funding startups and has a stake in almost every other Indian unicorn, could look at Jio as a great investment to further establish a stronghold in India’s internet journey. “Jio is a complete solution provider by integrating various subscriptions – mobile, landline internet and cable TV – under one network. This is going to be the biggest driver of data in the country and they have the reach for that purpose. Certainly, the investment interest of any global banker or investor will be there. These kinds of prepositions aren’t easily available,” said Choksey. Choksey further added that Jio’s last quarter results show that an average user is consuming 11 GB data per month and this will go up after 5G, which makes it an opportune time for an investor to come in. See Also: <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-industries-and-saudi-arabias-aramco-in-deal-talks/articleshow/68933752.cms">Mukesh Ambani might net billions by selling a stake in his refinery business to the ‘world’s most profitable company’</a> <a href="https://www.businessinsider.in/15-deals-have-given-mukesh-ambanis-8-5-trillion-reliance-industries-a-distinct-makeover/articleshow/68422829.cms">15 deals have given Mukesh Ambani’s ₹8.5 trillion Reliance Industries a distinct makeover</a>

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Mukesh Ambani gets his ‘richest Indian’ crown back with a wealth of $104.4 billion

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Mukesh Ambani’s $72 billion fortune makes him richer than Elon Musk and Google’s Larry Page and Sergey Brin

BI India Bureau

Reliance share price soars as Mukesh Ambani continues with his fundraising blitzkrieg for retail venture

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9 mind-blowing facts that show just how wealthy Mukesh Ambani, the richest person in Asia, really is

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Mukesh Ambani joins COP28 Advisory Committee

IANS

5 Lessons Entrepreneurs Should Learn From Mukesh Ambani

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Does Mukesh Ambani need Softbank's money to give Reliance Jio a greater flight?

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