Ambani tops Forbes' global billionaire gainers list with $7 bn wealth jump as Reliance shares soar

Reliance Industries chairman Mukesh Ambani emerged as the world's biggest billionaire wealth gainer on Monday, adding $6.3 billion to his fortune in a single day as shares of his flagship company surged following stronger-than-expected quarterly earnings.

According to Forbes' Real-Time Billionaires list, Ambani's net worth rose 7.85 per cent in the latest update on November 2, taking his estimated wealth to $88.8 billion and placing him 23rd among the world's richest individuals.

The increase was substantially higher than the gains recorded by other billionaires during the day. Spanish retail magnate Amancio Ortega ranked second with an increase of $1.7 billion, followed by Chinese billionaire Zhong Shanshan, whose wealth rose by $1.5 billion.

Ambani also retained his position as India's richest individual, ahead of Gautam Adani, who ranked 26th globally with an estimated net worth of $79.12 billion.

𝗥𝗲𝗹𝗶𝗮𝗻𝗰𝗲 𝘀𝗵𝗮𝗿𝗲𝘀 𝗷𝘂𝗺𝗽 𝟭𝟭.𝟲%

The sharp increase in Ambani's wealth coincided with an 11.6 per cent rally in Reliance Industries shares on Monday, marking the stock's strongest trading session in more than six years.

Reliance shares closed at their intraday high and emerged as the biggest gainers on the benchmark Nifty 50 index, reflecting strong investor demand following the company's September-quarter financial results.

The surge in the company's market valuation contributed significantly to the increase in Ambani's estimated wealth, given his substantial shareholding in Reliance Industries.

The stock market rally followed quarterly earnings that exceeded analysts' expectations, supported by improved performance in the company's refining, petrochemical and telecommunications businesses.

𝗤𝘂𝗮𝗿𝘁𝗲𝗿𝗹𝘆 𝗽𝗿𝗼𝗳𝗶𝘁 𝗿𝗶𝘀𝗲𝘀 𝟰𝟬.𝟲%

Reliance Industries reported a 40.6 per cent year-on-year increase in consolidated net profit to Rs 25,548 crore for the September quarter, significantly surpassing market estimates.

The strong earnings were driven primarily by improved refining and petrochemical margins, along with higher profitability at its telecommunications business, Jio.

Core earnings from the company's refining operations surged 68 per cent during the quarter, while Jio Platforms recorded a 16.6 per cent increase in core earnings.

The results strengthened investor confidence in Reliance's two major profit-generating businesses, oil-to-chemicals and digital services.

However, profitability in the company's retail operations remained under pressure, indicating uneven performance across its diversified business portfolio.

𝗝𝗶𝗼 𝗹𝗶𝘀𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗔𝗜 𝗽𝗹𝗮𝗻𝘀

Reliance Industries, which has annual revenue of approximately $125 billion, operates across petrochemicals, oil and gas, telecommunications, retail, media and financial services.

In October 2026, its telecom and broadband subsidiary Jio Platforms was listed on the stock exchanges, achieving a market capitalisation of $137 billion.

The valuation made Jio India's second-most valuable company after Reliance Industries, highlighting the growing significance of digital services within the conglomerate.

Ambani has also outlined plans to invest $110 billion in artificial intelligence infrastructure across India over the next seven years.

The proposed investment reflects Reliance's efforts to expand its presence in emerging technology businesses alongside its established energy, telecommunications and retail operations.

𝗙𝗿𝗼𝗺 𝘁𝗲𝘅𝘁𝗶𝗹𝗲𝘀 𝘁𝗼 𝗮 𝗴𝗹𝗼𝗯𝗮𝗹 𝗲𝗺𝗽𝗶𝗿𝗲

Reliance was founded in 1966 by Ambani's father, Dhirubhai Ambani, who began with a small textile manufacturing business after working as a yarn trader.

Following Dhirubhai's death in 2002, Mukesh Ambani and his younger brother Anil eventually divided the family business interests.

Under Mukesh Ambani's leadership, Reliance expanded into telecommunications, organised retail, digital platforms and other sectors while retaining its substantial presence in the energy industry.

Ambani's three children joined the Reliance Industries board in 2023. His elder son Akash heads Jio, daughter Isha oversees retail and financial services, and younger son Anant is involved in the energy business.

The latest rise in Ambani's fortune underscores the influence of Reliance Industries' market performance on his position in global wealth rankings, with the company's quarterly earnings triggering a significant one-day increase in his estimated net worth.