Forbes Rank: 1
Net worth: $57.6 b
Y-o-Y gains: + 29.9%
It looks like there’s no stopping to Mukesh Ambani’s growth. He is the chairman of one India’s most valued companies. He added $4.1 billion to his net worth last year even when half of Indian the billionaires lost wealth.
And his telecom venture seems to be paying off. As he added 340 million subscribers in three years of launch, his shareholders rewarded him handsomely. The buzz of a Jio IPO is gaining steam after he spun off the telecom venture last week, which could land shareholders with another windfall.
But it is not just Jio, revenues from Reliance Retail too grew at 47.5% to ₹38,196 crore in the quarter ending June 2019. He also managed to rope in Saudi Aramco to invest $15 billion in his energy business, which will help him turn debt-free by March 2020.