'Forbes' 2018 Billionaires List: Mukesh Ambani richest sports team owner

mukesh ambani

MUMBAI: Reliance Industries Ltd (RIL) chairman Mukesh Ambani has toppled former Microsoft CEO Steve Ballmer as the world's richest owner of a sports franchise on the Forbes 2018 Billionaires List.  

Ambani, who owns Indian Premier League team Mumbai Indians, chairs $51 billion (revenues) RIL, which has interests in oil and gas, refining, retail and telecom. With Reliance’s stock up 80%, he has seen his fortune surge to $40.2 billion from $23.2 billion a year ago. Ambani is the richest person in India and his fortune ranks nineteenth among the world’s billionaires.

Ballmer, who bought the Los Angeles Clippers for $2 billion in 2000, has been the world’s richest sports team owner the past three years, Forbes reports. Ballmer’s fortune jumped $8.4 billion over the last 12 months to $38.4 billion, thanks to a 38% rise in Microsoft’s share price.

Forbes' Top 20 of richest people in sports:
1. (No. 19 overall) Mukesh Ambani
Net worth: $40.1 billion

Sources of wealth: Petrochemicals, oil & gas, telecom

Team: Mumbai Indians

2. (22) Steve Ballmer
Net worth: $38.4 billion
Source of wealth: Microsoft

Team: Los Angeles Clippers

3. (37) Dietrich Mateschitz
Net worth: $23 billion
Source of wealth: Red Bull

Teams: New York Red Bulls, Red Bull Racing, Red Bull Toro Rosso Honda

4. (44) Paul Allen
Net worth: $21.7 billion
Sources of wealth: Microsoft, investments

Teams: Portland Trail Blazers, Seattle Seahawks

5. (108) Philip Anschutz
Net worth: $13 billion
Source of wealth: Investments

Teams: Los Angeles Kings, LA Galaxy

6. (116) Hasso Plattner & family
Net worth: $12.7 billion
Source of wealth: Software

Team: San Jose Sharks
7. (140) Roman Abramovich
Net worth: $10.8 billion
Sources of wealth: Steel, investments

Team: Chelsea FC

8. (154) Micky Arison
Net worth: $9.7 billion
Source of wealth: Carnival Cruises

Team: Miami Heat

9. (158) Mikhail Prokhorov
Net worth: $9.6 billion
Source of wealth: Investments

Team: Brooklyn Nets

10. (183) Stanley Kroenke
Net worth: $8.3 billion
Sources of wealth: Sports, real estate

Teams: Los Angeles Rams, Arsenal, Denver Nuggets, Colorado Avalanche

11. (205) Stephen Ross
Net worth: $7.6 billion
Source of wealth: Real estate

Team: Miami Dolphins

12. (217) Shahid Khan
Net worth: $7.2 billion
Source of wealth: Auto parts

Team: Jacksonville Jaguars

13. (274) Daniel Gilbert
Net worth: $6.3 billion
Source of wealth: Quicken Loans

Team: Cleveland Cavaliers

14. (281) Robert Kraft
Net worth: $6.2 billion
Source of wealth: New England Patriots

Teams: Patriots, New England Revolution

15. (321) Charles Johnson
Net worth: $5.6 billion
Source of wealth: Money management

Team: San Francisco Giants

15. (321) Jerry Jones
Net worth: $5.6 billion
Source of wealth: Dallas Cowboys

Team: Cowboys

17. (351) Richard DeVos & family
Net worth: $5.4 billion
Source of wealth: Amway

Team: Orlando Magic

18. (372) Marian Ilitch
Net worth: $5.2 billion
Sources of wealth: Pizza, sports team

Teams: Detroit Red Wings, Detroit Tigers

19. (388) Joe Lewis
Net worth: $5 billion
Source of wealth: Investments

Team: Tottenham Hotspur

19. (388) Vichai Srivaddhanaprabha
Net worth: $5 billion
Source of wealth: Duty-free

Team: Leicester City