Markets Watch Closely as Mukesh Ambani Drops Below $100 Billion Ahead of Q3 Results
Mukesh Ambani Slips Out of $100 Billion Club as Markets Turn Focus to Q3 Earnings: Mukesh Ambani, India and Asia’s richest person, has dropped out of the $100 billion club, according to the Bloomberg Billionaires Index. His net worth now stands at $99.6 billion. This year alone, his wealth has fallen by $8.12 billion (around ₹7.32 lakh crore), mainly due to a decline in Reliance Industries’ share price.
Net Worth Continues to Fall:
On Tuesday, Reliance Industries shares fell by more than 1 percent, which reduced Ambani’s net worth by $2.07 billion. The stock recovered slightly on Wednesday. As of 11:05 AM, Reliance shares were trading at ₹1,464.05, up 0.86 percent.
Reliance Industries’ market capitalisation currently stands at ₹19,81,221.66 crore. The stock’s 52-week high is ₹1,611.20, while its 52-week low is ₹1,115.55.
Biggest Wealth Losers:
Mukesh Ambani is the second-biggest loser on Bloomberg’s list this year. Meta Platforms CEO Mark Zuckerberg tops the losers’ list, with his wealth down by $9.84 billion. Despite the drop, Zuckerberg remains the sixth-richest person in the world with a net worth of $223 billion.
Elon Musk continues to lead Bloomberg’s list of the world’s richest people. His wealth has increased by $20.9 billion this year, taking his total net worth to $640 billion. Gautam Adani ranks 21st on the list with a net worth of $81 billion.
Focus Shifts to Q3 Results:
As Reliance shares and Ambani’s net worth decline, investors have shifted their focus to the company’s quarterly results. Reliance Industries will announce its October–December (Q3) results on Friday, January 16.
Analysts expect the company’s revenue to rise by 1 percent compared to the previous quarter. EBITDA is likely to increase by 4.6 percent to ₹47,997 crore from ₹45,885 crore. Operating margins may improve from 18 percent to 18.7 percent. Net profit is expected to grow by 6 percent quarter-on-quarter, from ₹18,165 crore to ₹19,271 crore.
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