Mukesh Ambani, Chairman of Reliance Industries, has re-entered the $100 billion net worth club, according to the Bloomberg Billionaires Index. On December 4, 2024, Ambani's wealth surged by $1.30 billion, bringing his total to $100 billion. This year, his fortune has increased by $3.84 billion, positioning him 17th among the world's richest individuals.
Despite this achievement, Reliance Industries' shares remain 18% lower than their July peak, closing at ₹1,311.35 after a 0.75% drop. Analysts express concerns regarding heightened competition in the retail sector, with JM Financial setting a target price of ₹1,660 for the company's shares.
Meanwhile, Gautam Adani, Chairman of the Adani Group, saw his net worth rise by $1.39 billion, totaling $84 billion and ranking him 19th globally. However, Adani's wealth has decreased by $264 million this year amid bribery allegations against him and other officials, which the Adani Group has denied.
In contrast, Elon Musk, the world's richest person, experienced a significant decline of $4.06 billion in his net worth, reducing it to $349 billion. Despite this drop, Musk's wealth has increased by $120 billion this year, reflecting his continued prominence in the global financial landscape.