Indian billionaires have experienced a significant boost in their wealth, thanks to a market rally that began in mid-March. The surge has been driven by increased foreign investments and easing global trade tensions. This has helped some of India’s top business tycoons see impressive gains. Mukesh Ambani, Chairman of Reliance Industries has once again crossed the 100 billion dollars mark which adds to nearly 20 billion dollars to his net worth in less than two months.
As per Forbes’ Real-Time Billionaires list, Reliance Industries Chairman Mukesh Ambani now has a net worth of 106.1 billion dollars. His wealth jumped by nearly $20 billion because of the recent market rally.—going from about 81 billion dollars in early March to over $100 billion today.
Mukesh Ambani’s recent wealth jump is largely due to a strong rebound in Reliance Industries and Jio Financial Services with their shares rising 25 per cent and 29 per cent from recent lows. However, his net worth still remains about 20% below his all-time high of 120.8 billion dollars, reached in July 2024.
Other big winners in the recent market rally include Sun Pharma’s Dilip Shanghvi and Bharti Airtel’s Sunil Mittal. Both saw their wealth grow by over 4.9 billion dollars since the March lows, reaching 28.8 billion dollars and 27.4 billion dollars, respectively. Shanghvi is still about 10 per cent below his record high, while Mittal is just 1 per cent away from his peak in September 2024.
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