According to the Hurun India report, in the previous year, India witnessed the emergence of a new billionaire every five days

India will now allocate satellite spectrum administratively, not through auction, after Musk criticised Ambani’s auction push.

Mukesh Ambani takes the top spot with a net worth of $119.5 billion; Gautam Adani and his family, who come next, are worth an estimated $116 billion.

`Our new energy business will be the new jewel in Reliance's crown; I foresee it becoming as big and profitable over the next 5-7 years as our oil-to-chemicals business which we built over the past 40 years,' Mr Ambani said.

Ambani is the second richest; Hurun India Rich List 2024 has 324 billionaires

Billionaire Mukesh Ambani-led Reliance Industries has climbed two notches to reach the 86th spot on the Fortune 500 companies list, which includes nine Indian companies.

Gautam Adani, India's second richest person after Mukesh Ambani, received ₹9.26 crore in the 2023-24 financial year. This was lower than most of his industry peers and top executives of his companies.

A doctor in Mumbai has allegedly lost ₹7 lakh in a share market fraud after she was duped by a deepfake video of Mukesh Ambani, the chairman of Reliance Industries.