Mukesh Ambani becomes Asia’s richest person

Mukesh Ambani has become the wealthiest person in Asia following a significant surge in the value of Reliance Industries shares. On Monday, November 2, 2026, Reliance Industries stock rose approximately 12 percent, adding over 19 billion dollars to the company's market value.

This increase resulted in an 8.5 billion dollar single-day boost to Ambani's net worth, which reached an estimated 88.8 billion dollars according to Forbes' Real-Time Billionaires List. With this jump, Ambani surpassed ByteDance founder Zhang Yiming, who holds an estimated net worth of 84 billion dollars.

The stock rally followed quarterly revenue reports of 255.5 billion rupees (2.7 billion dollars), which exceeded analyst expectations of 2.3 billion dollars. Additionally, the recent record-breaking IPO of Jio Platforms, a digital and telecommunications subsidiary of Reliance, contributed to the upward momentum. Jio Platforms raised 3.2 billion dollars in what was described as India's largest IPO, based on a valuation of approximately 106 billion dollars.