Mukesh Ambani, the founder, and chairman of Reliance Industries has once again made it to the Forbes World’s Billionaires List, ranking 9th in 2023, the highest in Asia. With a net worth of $81.2 billion, Ambani has been a consistent presence on the list, having ranked 10th in 2022.
Ambani’s wealth has been built on the success of Reliance Industries, which is India’s largest private sector company. The company has interests in a wide range of sectors, including petrochemicals, refining, oil and gas exploration, and telecommunications. Under Ambani’s leadership, Reliance Industries has grown into a behemoth, with a market capitalization of over $200 billion.
Ambani’s rise to the top of the billionaire list has been meteoric. In 2021, he overtook Jack Ma of China to become Asia’s richest person, with a net worth of $84.5 billion. Since then, his wealth has continued to grow, despite the challenges posed by the COVID-19 pandemic.
Ambani’s success has not been without controversy, however. In recent years, he has faced criticism over his company’s environmental record, with activists accusing Reliance Industries of contributing to air and water pollution in India. Ambani has also been embroiled in a legal battle with Amazon over the sale of a stake in Reliance Retail.
Despite these challenges, Ambani remains one of the most influential figures in Indian business and politics. He has close ties to the ruling Bharatiya Janata Party (BJP) and has supported Prime Minister Narendra Modi’s economic policies. Ambani’s wealth and influence have made him a lightning rod for criticism, with some accusing him of using his wealth to influence government policy.
Ambani’s success is also a reflection of India’s growing economic power. India now has the third-highest number of billionaires in the world, after the United States and China. The country’s billionaires have a combined net worth of $1.3 trillion, up from $1.1 trillion in 2021.
However, India’s wealth is not evenly distributed, and the country still faces significant challenges in terms of poverty and inequality. The COVID-19 pandemic has highlighted these challenges, with millions of Indians losing their jobs and struggling to make ends meet. Ambani’s wealth, while impressive, is a reminder of the stark disparities that exist in Indian society.
In conclusion, Mukesh Ambani’s ranking as the 9th richest person in the world and the highest in Asia is a testament to his business acumen and the success of Reliance Industries. However, his wealth and influence have also made him a controversial figure, with some accusing him of using his wealth to influence government policy. Ambani’s success also reflects India’s growing economic power, but the country still faces significant challenges in terms of poverty and inequality.