MUMBAI, India — Indian billionaire Mukesh Ambani has seen his fortune decline significantly in 2026, with his net worth falling to $84.2 billion, according to the latest Bloomberg Billionaires Index.
The chairman and managing director of Reliance Industries lost $1.33 billion, or 1.6 percent, during the latest trading session, extending a year-to-date decline of $23.6 billion, representing nearly 22 percent of his total wealth.
The latest figures place Ambani among the biggest wealth losers this year despite retaining his position as one of the world’s richest individuals.
Most of Ambani’s wealth is tied to his approximately 42 percent stake in Reliance Industries, India’s largest private-sector company and owner of one of the world’s biggest oil refining complexes.
Reliance Industries generated about $114 billion in revenue during the financial year ending March 2025, with operations spanning oil refining, petrochemicals, chemicals, telecommunications, retail, financial services and digital technology.
Beyond Reliance Industries, Ambani also owns roughly 41 percent of Jio Financial Services, which was spun off from Reliance in 2023.
His investment portfolio also includes ownership of the Mumbai Indians, one of the most successful franchises in the Indian Premier League.
Bloomberg’s valuation of Ambani’s fortune also factors in Antilia, his 27-storey residence in Mumbai, although the financial data provider estimates the property’s value at just over $400 million, considerably below media estimates that have placed its construction cost above $1 billion.
According to Bloomberg, Ambani has accumulated approximately $3.5 billion in dividends from Reliance Industries over the years, with those proceeds invested across cash holdings and other family assets.
Born into one of India’s most influential business families, Ambani studied chemical engineering before enrolling at Stanford University.
He later left the programme at the request of his father, Dhirubhai Ambani, to oversee the construction of a polyester manufacturing plant as Reliance expanded beyond textiles into petrochemicals and energy.
Following his father’s death in 2002 without a will, Mukesh Ambani and his younger brother, Anil Ambani, became embroiled in a widely publicised dispute over control of the family business empire.
The disagreement was resolved in 2005 through a settlement brokered by their mother, with Mukesh Ambani retaining Reliance’s core businesses, including refining, petrochemicals, oil and gas, while Anil Ambani took charge of telecommunications, entertainment, power and financial services.
In recent years, Ambani has expanded Reliance’s global footprint beyond India, including investments across Africa.
One of the company’s major initiatives involves supporting Ghana’s 5G telecommunications rollout through Radisys Corporation, a Reliance subsidiary, in partnership with Next-Gen InfraCo.
Despite the decline in his personal fortune this year, Ambani remains one of the world’s most influential business leaders, with Reliance Industries continuing to play a major role in the global energy, technology and telecommunications sectors.
