Indian billionaire Mukesh Ambani added $3.7 billion to his net worth on Friday, as shares of his main company surged following his announcement to double down on clean energy goals. The wealth of Asia's richest person now stands at $92.6 billion, according to the Bloomberg Billionaires Index. Ambani is closing in on Françoise Bettencourt Meyers of L’Oreal, whose fortune is valued at $92.9 billion, as both men narrow the gap towards joining the club of billionaires with fortunes exceeding $100 billion.
Ambani's jump in wealth was driven by a rise in shares of Reliance Industries Limited, after he stated that the company would continue to "aggressively" produce cheaper green hydrogen. The telecommunications unit of Ambani's empire is known for shaking up the markets it enters and has become the dominant player in the Indian market as it expanded its digital operations, backed by investors including Facebook in a deal reportedly worth up to $25 billion.
This year, Ambani also revealed an ambitious plan to invest $10 billion in clean energy, marking a new focus for India's largest company. The goal aligns with Prime Minister Narendra Modi's ambitions to combat climate change and reduce imports for the world's third-largest oil consumer. Reliance's shares rose 4.1% to a record high in Mumbai on Friday.
