Reliance Industries Chairman and Managing Director Mukesh Ambani moved ahead of ByteDance co-founder Zhang Yiming in Forbes’ Nov. 2 billionaire ranking, with estimated fortunes of $88.9 billion and $84 billion, respectively.
The profiles put Ambani at No. 22 worldwide and Zhang at No. 25, a three-place gap. The estimates were $4.9 billion apart. Ambani’s estimate rose $8.7 billion, or 10.79%, from 5 p.m. ET on the previous trading day, Forbes said. Forbes updates public holdings every five minutes during market hours, using stock prices delayed by 15 minutes. Its profile for Gautam Adani showed $79.2 billion and No. 26, one place below Zhang. The rankings can change as estimates move with public holdings.
Reliance Industries shares were quoted at ₹1,300 on the National Stock Exchange of India (NSE) on Nov. 2, up ₹135.10, or 11.60%. The company separately reported results for its second quarter of fiscal 2027, which ended Sept. 30. Gross revenue was ₹362,268 crore ($37.8 billion). EBITDA was ₹62,409 crore ($6.5 billion), and profit after tax was ₹29,550 crore ($3.1 billion).
Jio Platforms, Reliance’s digital and telecommunications arm, listed Oct. 28. The NSE IPO tracker records a first-day close of ₹1,417.50, 26.68% above the ₹1,119 issue price. EconoTimes previously covered Jio Platforms’ market debut.
In Reliance’s Q2 results-call transcript, V. Srikanth described the IPO as “absolutely a defining moment,” saying it made Jio the second most valuable company.
