Lagatar24 Desk
New Delhi: Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, has once again secured the top spot on Forbes India’s list of 100 richest tycoons for 2024. According to the latest report, India’s wealthiest have collectively crossed the $1 trillion mark in net worth for the first time ever.
Ambani’s wealth saw a significant jump this year, rising by $27.5 billion to reach $108.3 billion. This leap makes him the second-biggest gainer in dollar terms and positions him as the 13th richest person in the world. His announcement of bonus shares for Reliance investors as a Diwali gift further cemented his standing as India’s wealthiest individual.
Historic Milestone of Collective Wealth
The combined wealth of India’s top 100 richest individuals crossed an unprecedented $1 trillion in 2024, surging 40% to $1.1 trillion from last year’s $799 billion. This remarkable increase was driven by strong stock market performances, a boom in Initial Public Offerings (IPOs), and rising mutual fund investments.
Stock Market Surge Propels Wealth Growth
Forbes highlighted that more than 80% of those on the list experienced an increase in wealth, with 58 individuals adding $1 billion or more to their fortunes. The BSE Sensex index gained 30% over the past year, contributing significantly to the wealth surge of India’s richest.
