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, he 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.
Some Key points of Mukesh Ambani
- Mukesh Ambani chairs and runs $74 billion (revenue) Reliance Industries, which has interests in petrochemicals, oil and gas, telecom and retail.
- Reliance was founded by his late father Dhirubhai Ambani, a yarn trader, in 1966 as a small textile manufacturer.
- After his father's death in 2002, Ambani and his younger sibling Anil dividied up the family empire.
- In 2016, Reliance sparked a price war in India's hyper-competitive telecom market with the launch of 4G phone service Jio.
- During the Covid-19 lockdown, Ambani raised more than $20 billion selling a third of Jio to a string of investors, such as Facebook and Google.
