Mukesh Ambani, Chairman and Managing Director of Reliance Industries, has once again topped the Forbes list of India's 100 richest tycoons for 2024. Ambani’s wealth surged by $27.5 billion over the past year, bringing his total net worth to $119.5 billion. This makes him the second-biggest gainer in dollar terms and the 13th richest person globally. His company, Reliance, also announced bonus shares for its investors as a Diwali gift.
Forbes revealed on October 9 that the collective wealth of India’s top 100 billionaires surpassed $1 trillion for the first time. The combined wealth rose by 40% in 2024 to $1.1 trillion, up from $799 billion in 2023. This surge was driven by strong stock market performance, with the BSE Sensex gaining 30% over the past year. As a result, over 80% of those on the list saw their wealth grow, with 58 adding $1 billion or more to their fortunes.
Gautam Adani, Chairman of the Adani Group, ranked second with a family wealth of $116 billion, making him the biggest gainer, adding $48 billion.
Adani’s recovery follows a dip after a report from US short-seller Hindenburg.
Other top tycoons include Shiv Nadar, Dilip Shanghvi, and Radhakishan Damani, all adding billions to their wealth.
