$8.5 bn richer in a day: RIL share price rally makes Mukesh Ambani Asia’s richest again
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Mukesh Ambani became Asia’s richest person again after Reliance shares surged nearly 12% on Monday.
- ✓Forbes reported his wealth rose to $88.8 billion, pushing him ahead of Zhang Yiming.
- ✓The rally followed strong quarterly earnings and the successful debut of Jio Platforms, which saw its shares gain 27% on October 28.
Story at a Glance
- Category
- MARKET
- Reported By
- Financial Express
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
According to Forbes’ report on Monday’s Real-Time Billionaires list, the Reliance chairman’s wealth rose 10.5% to $88.8 billion. That put him ahead of ByteDance co-founder Zhang Yiming, whose fortune was estimated at $84 billion. Ambani ranked 23rd globally in the list, while Zhang was 25th.
The $4.8 billion gap opened as investors reassessed a conglomerate whose fortunes stretch from oil refining and petrochemicals to telecom, retail and digital services.
Earnings behind the leap
Reliance shares surged nearly 12%, adding more than $19 billion to its market value. Bloomberg described it as a record single-day market-value gain for an Indian company and Reliance’s strongest share-price rally since April 2020.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
Financial Express
Read the full, original unfiltered story directly on the publisher's portal.