He is one of only 10 individuals in the world worth 12 figures.
By Ashima Sethi
Despite the fact that COVID-19 has rocked multiple industries, caused mass unemployment, and pushed plenty of people under the poverty line, the richest in the world have continued to get richer in the last few months (tickle me shocked, honestly).
One of these ultra-rich individuals is Mukesh Ambani who has officially joined the ‘100 Billion Dollar Club.’ According to Forbes Billionaires List, Ambani is the richest Asian in the world and only the 10th person in the global rankings to join this coveted ‘club.’ Other notable individuals on the list include Elon Musk, Bill Gates, Mark Zuckerberg, Jeff Bezos, Bernard Arnault, Warren Buffet, among several others.
According to the Bloomberg Billionaires Index, Ambani’s wealth increased by more than 23.8 billion dollars this year. The majority of his wealth comes from his take in Reliance Industries, which is an oil-refining and petrochemicals business that he inherited from his father, Dhirubhai Ambani, which has since expanded into a conglomerate with subsidiaries in industries like petrochemicals, telecom, oil, gas and retail businesses. It is predicted that shares for Reliance Industries skyrocketed by over 30% in recent time, which pushed Ambani’s net worth to 101.4 billion dollars.
More individuals are expected to join this club soon. Francoise Bettencourt Meyers, heiress to the L’Oreal cosmetics fortune has a net worth of 82 billion dollars, which is steadily growing. Similarly, Amancio Ortega who owns the clothing retail group Inditex and Gautam Adani, who runs the Adani Group conglomerate, are both predicted to join the group soon as well.
Just to put things into perspective as to how much of the world’s wealth is owned by a select few individuals, according to Statista, the global 1% comprise of approximately 80 million people and the global 0.1% comprises of approximately 8 million individuals. This means that the individuals in the ‘100 Billion Dollar Club’ make up 0.0000001% of the global population.