| 24 May 2024, Friday |

India’s richest man Mukesh Ambani earns $3.7 billion in one day

Asia’s richest man, Mukesh Dhirubhai Ambani of India, earned $3.7 billion in a single day after shares of his flagship company surged amid an announcement that he will double his clean energy goals, Al Arabiya reported on Sunday.

According to Bloomberg’s Billionaires Index, Ambani is the twelfth richest man in the world, with a net worth of almost $93 billion.

The Indian billionaire controls Reliance Industries, owner of the largest oil refinery complex in the world. The conglomerate also deals with 4G wireless network infrastructure across India and is the dominant telecom provider in the country.

The Ambani family’s stake in the conglomerate is publicly traded and accounts for a huge sum of his wealth. The shares of the Mumbai-based company surged 4.1 percent to a record-high on Friday.

Spread across India’s top 29 cities, Reliance Communications connects over 90 percent of India’s population and has significant tower infrastructure that also caters to other telecom operators.

He also owns the Mumbai Indians professional cricket team and residential properties worth over $400 million and $200 million. His 24-floor mansion holds six family members: his mother, wife and three children.

  • alarabiya