Reliance Industries chairman and managing director Mukesh Ambani has now become the richest person in Asia, rightfully reclaiming his position on Monday. As per recent reports, the billionaire’s company showed a serious surge in share price and he overtook ByteDance co-founder Zhang Yiming, reclaiming his title, in the process.
As per reports, Ambani’s Reliance Industries shares helped in the boost of his fortune by $8.5 billion, taking his estimated net worth to $88.8 billion. The stock surged nearly 12% on Monday which added over $19 billion to his wealth. Now, following his increase in wealth that rose by 10.5% it placed him at the 23rd position on the global list of world’s richest individuals.
Zhang, who co-founded ByteDance, the parent company of TikTok, first overtook Ambani on June 3, 2026 to become Asia’s second-richest person, with Gautam Adani being at the top. Now months later, surpassing all of them, Ambani reclaimed his position as the richest person in Asia. As of November 3, the second and third richest persons in Asia are Zhang Yiming with $84 billion and Gautam Adani with $79.2 billion respectively.
For a little history on the company, Reliance Industries was founded by Dhirubhai Ambani and the next generation took the company to its highest heights. In 2023, Reliance was ranked 45th globally, making it the highest-ranked Indian company on international business list title. As for Mukesh Ambani’s immense wealth, it first became the talk of the town when he overtook China's Hui Ka Yan, chairman of Evergrande Group, to become Asia's richest person in 2017.
As years followed, his wealth continued to rise. As of now Reliance Industries has businesses spanning petrochemicals, oil and gas, telecommunications, retail, media and financial services. The conglomerate also operates through subsidiaries such as Jio Platforms, its digital and telecommunications arm, and its Oil-to-Chemicals (O2C) division. These have helped largely for the expansion of Ambani’s wealth.
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