Indian billionaire Mukesh Ambani experienced a major financial loss, losing over Rs. 160 billion in just 24 hours. This happened after a 2% drop in the share price of his company, Reliance Industries, during a turbulent trading session.
As a result, Ambani’s position on the Bloomberg Billionaires Index fell, placing him in 15th position with a net worth of $102 billion. Recently, Ambani made headlines for purchasing a luxury Boeing 737 private jet for approximately $150 million, as well as a Rolls Royce Cullinan SUV worth $1.3 million.
In contrast, fellow Indian billionaire Gautam Adani saw his fortune grow by $266 million, moving him up to 18th place in the global rankings.
Elon Musk continues to hold the top spot as the richest person in the world with a net worth of $241 billion, while Jeff Bezos remains in second place with $211 billion.
The sudden shifts in wealth for these billionaires highlight the volatility of the stock market and how it can impact even the wealthiest individuals. Ambani’s loss, though significant, still leaves him among the world’s richest, but it also serves as a reminder of how quickly fortunes can change.
