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.