Indian billionaire Mukesh Ambani suffered an important financial setback when he lost more than Rs. 160 billion in a single day. This happened following a difficult trading session in which his company’s share price, Reliance Industries, Ltd., fell by 2%.
Because of this, Ambani’s net worth of $102 billion dropped to 15th place on the Bloomberg Billionaires Index. Ambani recently made headlines when he spent almost $150 million on a private, luxurious Boeing 737 and $1.3 million on a Rolls Royce Cullinan SUV.
Gautam Adani, another Indian billionaire, had his wealth increase by $266 million, putting him in 18th position globally.
With a net worth of $241 billion, Elon Musk is still the richest person in the world, and Jeff Bezos is still in second place with $211 billion.
These billionaires’ unexpected shifts in luck serve as a reminder of the stock market’s volatility and how it may affect the most wealthy people. Even though Ambani is still one of the richest people in the world as a result of his loss, it serves as a reminder of how swiftly things can change.
