Mukesh Ambani, the chairman and managing director of Reliance Industries, retained the top spot on 2024 Forbes’ list of 100 richest Indian tycoons. This year India’s top 100 wealthiest cross a trillion dollar in collective net worth for the first time ever, Forbes noted. 

This comes as Mukesh Ambani announced bonus shares as Diwali gift for Reliance investors. As per Forbes, Mukesh Ambani was the second-biggest gainer in dollar terms, with wealth rising $27.5 billion in the past one year to $119.5 billion. His current net worth stands at $108.3 billion, making him the 13th richest person in the world.

Moreover the magazine’s report noted that the combined wealth of the top 100 on the Forbes rich list for 2024 crossed an historic milestone of a trillion dollar and the total wealth jumped 40 percent to $1.1 trillion in 2024, rising from $799 billion reported in 2023. 

The magazine said that strong stock market, IPOs and mutual funds has resulted in the rich getting richer in India. The market frenzy has reached an all-time high as BSE Sensex gained 30 percent since last year, Forbes said, adding, “As a result, more than 80 percent of those on the list are wealthier, with 58 adding $1 billion or more to their respective net worths.”

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