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Top 10 richest people in Asia in 2024

Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s Reliance Industries and <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="153" meta.entityid="Tata Group">Tata Group</keyword> have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list. TIME listed Reliance in the 'Titans' category (one of the five categories under which the companies were divided, other being Leaders, Disrupters, Innovators, and Pioneers). Tata was listed in 'Titan's' category while Serum under 'Pioneers'. "Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate -- which has aligned its growth with Indian Prime Minister Narendra Modi's vision for a 'self-reliant' India -- is the country's most valuable company, with a market capitalisation of more than USD 200 billion," TIME said. Now led by Dhirubhai's son Mukesh, the Mumbai-based company has ventures in energy, retail, and telecommunications, among others, and has made its chairman Asia's richest man, it said. The publication went on to stated that in February, Reliance came out on top in a fiercely competitive race to dominate India's burgeoning streaming market by striking a USD 8.5 billion merger deal with Disney's India business. "The deal will bring together more than 100 television channels and give the combined group around a 31 per cent share of India's streaming market compared to rivals Netflix and Amazon Prime with 8 per cent each," according to analytics firm Comscore. Reliance has revolutionised several economic sectors in the world's most populous country by making world-class products and services available at affordable prices with multiple innovations. Under Mukesh Ambani, the firm's telecom arm Jio revolutionised India's digital landscape and drove digital inclusion on an unprecedented scale with the most affordable mobile data tariffs in the world. It set up the world's largest single location refining complex. Reliance Retail is ranked among the top 100 retailers globally and in FY24 it registered 1.06 billion footfalls across its 18,800+ stores (67 per cent of which are in small towns and villages). Reliance is investing USD 10 billion in building the most comprehensive ecosystem for new energy and new materials in India and has set an ambitious goal to reach net-zero carbon by 2035. TIME described Serum as the world's biggest vaccine maker, churning out billions of vaccines. The company makes 3.5 billion doses every year, including for measles, polio, and most recently, HPV. "Serum's CEO Adar Poonawalla says the company's success can largely be chalked up to its private ownership. Not being beholden to shareholders allows it to keep vaccine prices low (the R21 will cost USD 4 a shot)," the publication said. Tata Group, it said, was founded in 1868 and has a vast portfolio extending from steel, software, watches, subsea cables, and chemicals, to salt, grains, air-conditioners, fashion, and hotels. "But as rivals have aggressively courted new businesses, it struggled to keep up with stiff competition. In 2017, after over a century of family management, N Chandrasekaran took over as chairman despite having no personal ties to the family -- highly unusual when India's business landscape is ruled by family succession plans," TIME said. As chair, he has transformed the group by investing in tech manufacturing, AI, and semiconductor chips. In 2023, it became the first Indian company to assemble iPhones, and is building another plant, it said, adding that in September, Tata announced a partnership with Nvidia to develop an AI cloud in India. "And this year, it announced plans for the country's first major semiconductor manufacturing facility. The moves seem to be paying off: in February, Tata's combined market capitalisation reached a whopping USD 365 billion, more than the entire economy of India's neighbour and rival, Pakistan," it added. This is the fourth edition of annual TIME100 Most Influential Companies list, highlighting companies making an extraordinary impact around the world. To assemble the list, TIME solicited nominations across sectors, and polled its global network of contributors and correspondents, as well as outside experts. Then, TIME editors evaluated each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of 100 businesses helping chart an essential path forward. SEE ALSO:<a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a><a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank">Truecaller can now detect if the caller is using AI – How to use it to prevent AI call scams</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank">India’s T20 World Cup team, matches and everything you need to know</a>

Reliance, Tata on TIME's list of world's most influential companies

<ul class="summary-list"><li>Nvidia's Jensen Huang has zoomed up Bloomberg's rich list to rank 13th with a $107 billion fortune.</li><li>Only Michael Dell, Mukesh Ambani, and Warren Buffett stand between the CEO and a spot in the top 10.</li></ul><a target="_blank" href="https://www.businessinsider.com/nvidia-jensen-huang-chipmaker-cofounder-ceo-wealth-net-worth-ai-2023-5">Jensen Huang</a> has added about $93 billion to his net worth in under 18 months, leaving him just three spots away from breaking into the ranks of the world's 10 wealthiest people.The Nvidia cofounder and CEO's 3.5% stake in his company was worth less than $14 billion at the start of last year. With a fortune of that size now he'd barely crack the top 150 on the <a target="_blank" href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index</a>.Since then, Nvidia stock has skyrocketed from below $150 to north of $1,200 — an increase of more than 700%. The chipmaker's market capitalization just passed $3 trillion for the first time, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-bigger-than-apple-2nd-most-valuable-company-global-2024-6">leapfrogging Apple</a> to become the world's second-largest public company after Microsoft ($3.15 trillion).Huang now ranks 13th on Bloomberg's rich list with a $107 billion fortune. Only <a target="_blank" href="https://www.businessinsider.com/life-of-michael-dell-2014-7">Michael Dell</a> ($109 billion), <a target="_blank" href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani</a> ($109 billion), and <a target="_blank" href="https://www.businessinsider.com/how-warren-buffett-spends-money-net-worth">Warren Buffett</a> ($135 billion) stand between him and a top 10 spot.<a target="_blank" href="https://www.businessinsider.com/who-is-bernard-arnault-owner-louis-vuitton-lvmh-net-worth">Bernard Arnault</a>, the CEO of LVMH, remains top of the list with a $212 billion fortune — $8 billion more than Jeff Bezos. Nvidia and Huang have seen such sensational gains because of the <a target="_blank" href="https://www.businessinsider.com/ai-revolution-new-phase-openai-google-tech-2024-5">artificial intelligence craze</a>. Companies like Microsoft, Tesla, and Meta are buying Nvidia's graphics processors <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-twitter-china-tech-giants-nvidia-gpu-chips-2023-8?r=US&amp;IR=T">by the truckload</a> as they rush to build everything from AI-powered chatbots and recommendation systems to self-driving cars and humanoid robots.The demand boom <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-q1-earnings-wall-street-reaction-ai-revolution-just-started-2024-5">fueled</a> a huge rise in Nvidia's revenue to $26 billion, and pushed net income to $14.9 billion in the three months to April 28.By comparison, Meta's revenue was $36.5 billion and net income $12.4 billion in the first quarter of this year.Investors have piled into Nvidia stock because they're convinced AI is transforming the world, and the chipmaker will play a critical role in powering the revolution.As a byproduct of that belief, Huang's wealth has grown by roughly eightfold in under 18 months.

Nvidia CEO Jensen Huang is now worth $107 billion, making him the 13th-richest person

<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 class="summary-list"><li>Bill Gates visited the Statue of Unity in India before heading to the Ambani pre-wedding bash.</li><li>Prime Minister Narendra Modi personally invited Gates to view the tallest statue in the world.</li></ul>Before rubbing elbows with the world's rich and famous at the <a target="_blank" href="https://www.businessinsider.com/ambani-heir-married-in-july-following-pre-wedding-bash-2024-3">Ambani pre-wedding bash</a>, <a target="_blank" href="https://www.businessinsider.com/bill-gates-use-ai-at-work-tech-2023-12">Bill Gates</a> was just being a tourist in India.Gates posted photos of him on Instagram Friday at the <a target="_blank" href="https://www.businessinsider.com/r-india-inaugurates-worlds-tallest-statue-to-celebrate-independence-hero-2018-10">Statue of Unity</a>, the world's largest statue, which is located in the Indian state of Gujarat. The towering memorial to politician <a target="_blank" href="https://www.businessinsider.com/tallest-statue-in-world-sardar-vallabhbhai-patel-in-india-unity-2018-10">Sardar Vallabhbhai Patel</a> — who helped reunite India post-British colonial rule — is nearly 600 feet tall and was commissioned by Prime Minister Narendra Modi in 2013.While Gates appears to be participating in regular old tourist activities, the former Microsoft CEO was personally invited by Modi himself to view the statue."Thank you @narendramodi for the invitation to visit the impressive Statue of Unity. It is an engineering marvel and a great tribute to Sardar Patel," Gates <a target="_blank" href="https://www.instagram.com/p/C3_BYsjyIqx/?utm_source=ig_web_copy_link&amp;igsh=MzRlODBiNWFlZA==">wrote on Instagram</a> under a photo of him grinning in front of the steel and bronze colossus. "Also great to see it is creating economic opportunity for local tribal communities, especially women."Gates was so inspired by the visit that he posted a follow-up video of his experience at the Statue of Unity set to <a target="_blank" href="https://www.instagram.com/reel/C4Cm6EHOtFr/?utm_source=ig_web_copy_link&amp;igsh=MzRlODBiNWFlZA==">"Don't Stop Me Now" by Queen</a>.Before Gates also sat down with Modi to discuss "using AI for public good," he wrote in the caption an Instagram post that featured him posing with the <a target="_blank" href="https://www.instagram.com/p/C38GgfsR_F4/?utm_source=ig_web_copy_link&amp;igsh=MzRlODBiNWFlZA==">Prime Minister</a>. Gates also later met with multiple local leaders, per <a target="_blank" href="https://x.com/BillGates/status/1763254121975701635?s=20">posts</a> on his social media.What Gates has been making headlines for, however, is his attendance at one of the biggest parties of the year so far — the Ambani family pre-wedding bash hosted by Asia's richest man, <a target="_blank" href="https://www.businessinsider.com/how-rich-mukesh-ambanis-india-2020-1">Mukesh Ambani</a>. The soiree celebrating his son Anant Ambani's upcoming marriage featured a private performance <a target="_blank" href="https://www.businessinsider.com/rihanna-concert-ambani-indian-wedding-fee-cost-estimate-2024-3">by Rihanna</a> and some of the most prominent names in business and Bollywood.

Bill Gates went sight-seeing in Gujarat before throwing down with the world's richest people at the Ambani's pre-wedding party

A <a href="https://www.businessinsider.in/investment/news/bitcoin-ethereum-and-others-have-lost-nearly-40-percent-since-their-record-highs-but-investors-are-still-better-off-than-they-were-a-year-ago/articleshow/88823379.cms" data-type="tilCustomLink">cryptocurrency</a> CEO has become one of the richest people on Earth, CNN reported. Changpeng "CZ" Zhao, who runs the crypto exchange <a href="https://www.businessinsider.in/cryptocurrency/news/binance-boss-cz-is-reportedly-worth-96-billion-rivaling-mark-zuckerberg-and-thats-without-counting-his-personal-crypto-holdings/articleshow/88814400.cms" data-type="tilCustomLink">Binance</a>, has joined the ranks of the world's top billionaires, with an estimated net worth of at least $96.5 billion, according to new calculations from the Bloomberg Billionaires Index. Zhao's projected fortune now is just below that of Oracle founder Larry Ellison and surpasses that of Mukesh Ambani, the Indian tycoon whose fortune has also soared over the last two years. The ascent of the Chinese-Canadian entrepreneur is emblematic of the rapid creation of wealth in the fast-moving world of digital currencies. Last year, other crypto founders also enjoyed huge gains as the value of virtual coins rallied, with ethereum creator Vitalik Buterin and Coinbase founder Brian Armstrong both becoming billionaires. Sam Bankman-Fried, CEO of FTX, another <keyword id="6357017" type="General" weightage="20" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> exchange that has been backed by Binance, pointed Tuesday to an "unprecedented amount of wealth creation that has occurred in the industry over the last few years", CNN reported. A Binance spokesperson told CNN Business that "CZ intends to give away most of his wealth, even 99 per cent of his wealth, just like other entrepreneurs and founders." Zhao launched Binance in 2017, gradually building it into one of the world's largest crypto exchanges, the report said.

Binance CEO Changpeng Zhao beats Mukesh Ambani to become Asia's richest person

<ul class="summary-list"><li>Mukesh Ambani, the second-wealthiest person in Asia, is setting up a family office in Singapore, <a href="https://www.bloomberg.com/news/articles/2022-10-07/billionaire-mukesh-ambani-to-open-family-office-in-singapore">per</a> Bloomberg.</li><li>Ambani is the chairman of Reliance Industries, a multinational conglomerate headquartered in Mumbai.</li></ul>Mukesh Ambani, the chairman of Reliance Industries and Asia's second-richest man, is opening a family office in Singapore, Bloomberg <a href="https://www.bloomberg.com/news/articles/2022-10-07/billionaire-mukesh-ambani-to-open-family-office-in-singapore">reported</a>, citing sources with knowledge of the move.Apart from picking a new office, Ambani has already chosen a manager to get the operations off the ground and oversee recruitment, per Bloomberg. He also wants the Singapore outpost to be operational within a year.Reliance Industries did not immediately respond to Insider's request for comment.Ambani is just the latest name in the list of ultra-rich who have established a base in Singapore in recent years. In November 2020, hedge fund billionaire Ray Dalio <a href="https://www.bloomberg.com/news/articles/2020-11-26/billionaire-ray-dalio-set-to-open-family-office-in-singapore">set up a Singapore family office</a> to manage his Asian investments. He joined the ranks of vacuum-cleaner billionaire James Dyson, who already had a family office in the city from when he relocated his company's headquarters to Singapore in 2019.Google co-founder Sergey Brin also <a href="https://www.bloomberg.com/news/articles/2021-02-03/google-co-founder-brin-s-family-office-to-open-in-singapore">followed in their footsteps</a>, and set up a family office in the city in February 2021. A few months later in October 2021, Oppenheimer Generations — which is linked to former De Beers chairman Nicky Oppenheimer — also set up a unit in Singapore, per <a href="https://www.bloomberg.com/news/articles/2021-10-19/family-who-exited-de-beers-for-5-billion-seeks-out-asia-s-rich">Bloomberg</a>.There are about 700 family offices established in Singapore, up from 400 at the end of 2020, based on the latest estimates from the <a href="https://www.mas.gov.sg/news/parliamentary-replies/2022/reply-to-parliamentary-question-on-family-offices-registered-in-singapore">Monetary Authority of Singapore</a> (MAS) in July 2022.Ambani, whose net worth is $83.7 billion, is the second-richest man in Asia, per Bloomberg's <a href="https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/">Billionaires Index</a>. He heads India's <a href="https://www.bloomberg.com/profile/company/RIL:IN">Reliance Industries</a>, which operates primarily in the energy industry. Apart from oil refinery, the company controls a vast network of retail stores for groceries, clothing, jewelry, and toys, per its <a href="https://www.ril.com/getattachment/57c07cd8-3cba-457b-a972-c02524df79b6/AnnualReport_2020-21.aspx">2021 annual report</a>. It also has an interest in telecommunications and runs <a href="https://www.bloomberg.com/profile/company/3656749Z:IN">Jio Infocomm</a>.

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Top 10 richest people in Asia in 2024

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Reliance, Tata on TIME's list of world's most influential companies

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

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Bill Gates went sight-seeing in Gujarat before throwing down with the world's richest people at the Ambani's pre-wedding party

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Binance CEO Changpeng Zhao beats Mukesh Ambani to become Asia's richest person

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Mukesh Ambani, the second-richest person in Asia, joins the list of ultra-rich people opening a family office in Singapore

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