Mukesh Ambani rejoins $100 billion club as Reliance stock surges record 2.6%
11 months, 1 week ago

Mukesh Ambani rejoins $100 billion club as Reliance stock surges record 2.6%

Live Mint  

Mukesh Ambani is once again a centibillionaire. The richest person in India — and in Asia — saw his wealth climb $2.8 billion to $101.8 billion Thursday, as shares of his flagship, Reliance Industries Ltd., rose 2.6% to close at a record high. The listing last year of Reliance’s financial services unit, Jio Financial Services Ltd., helped to broaden the sources of Ambani’s wealth even further. While Jio shares have only gained about 1% since going public in August, the company remains India’s third-largest shadow lender by market value. The firm ultimately wants to develop India’s version of WeChat, a super app that centralizes online shopping, video streaming, digital financing and stock trading, people familiar with the plans have said.

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