Mukesh Ambani Races To Join $100 Billion Club With A Rise In Reliance Shares

Mukesh Ambani has added over $15.9 billion to his wealth since the beginning of this year.

Reliance Industries Chairman Mukesh Ambani. (File Photo/AFP)

Mumbai: Reliance Industries (RIL) chairman Mukesh Ambani is racing to join the coveted $100 billion club with the rise in shares of his oil-to-telecom conglomerate.

Asia's richest saw a $3.7 billion surge in his wealth as Reliance shares touched its 52-week high of Rs 2479.85 on Monday.

According to Bloomberg Billionaires Index, Ambani, 64, with a fortune of $92.6 billion, is ranked 12th richest globally.

Ambani has added over $15.9 billion to his wealth since the beginning of this year.

RIL shares on Tuesday closed up 0.7% at Rs 2441.3 in a volatile Mumbai market, valuing the company close to Rs 15.5 lakh crore, India's most valued and first company to exceed the Rs 15 lakh mark.

According to experts, the RIL share price rally may continue as the large-cap stock has given a fresh breakout after one year of consolidation and expects it to go up to Rs 3,000 levels in the next 9-12 months.

The 11 billionaires ahead of Ambani include Jeff Bezos of Amazon ($201B), Tesla's Elon Musk ($199B), Bernard Arnault of LVMH ($164B), Microsoft founder Bill Gates ($154B), Facebook founder Mark Zuckerberg ($140B), Google cofounders Larry Page ($128B) and Sergey Brin ($124B), former Microsoft CEO and Ambani's classmate Steve Ballmer ($108B), Oracle co-founder Larry Ellison ($104B),  Berkshire Hathaway chairman Warren Buffett ($103B) and Francoise Bettencourt Meyers, the granddaughter of the founder of L'Oreal and the richest woman in the world ($92.9B).