Mukesh Ambani tops Forbes India richest list with net worth $88 billion

Mukesh Ambani tops Forbes India richest list with net worth $88 billion

Reliance Industries Chairman Mukesh Ambani has once again topped the Forbes India richest list of 2020. Among the 100 richest individuals and families in the country, Mukesh Ambani is ranked number one with a net worth of $88 billion.

Mukesh Ambani is followed by Adani Group’s Gautam Adani with a net worth of $25 billion. Mukesh Ambani has been reigning on the top of Forbes India richest list for the past decade and this is his 13th year on Rank 1.

According to the Forbes India report, Mukesh Ambani has added a net worth of $37.5 billion to his net worth. The Forbes article has said despite a “tumultuous year for the global economy, India's richest preserved their wealth.”

“Mukesh Ambani remains the wealthiest Indian for the 13th year in a row, adding $37.3 billion to his net worth; vaccine maker Cyrus Poonawalla entered the top 10 at rank 6 as all eyes remain on the antidote, while Biocon's Kiran Mazumdar Shaw became the highest wealth gainer in percentage terms and all the pharmaceutical billionaires on the list saw their wealth rise. Fewer billionaires saw their wealth erode this year than they did in 2019,” read the Forbes India report.

Reliance Industries Ltd has raised Rs 1.65 trillion ($22.43 billion) over the past few months through stake sales at its digital unit Jio Platforms and its retail arm Reliance Retail Ventures.

In September, Reliance announced a $755.1 million investment from KKR & Co Inc in its retail arm, giving it a pre-money valuation of Rs 4.21 trillion ($57.28 billion).