Mukesh Ambani recently suffered a significant financial loss, losing over ₹16,000 crore in just 24 hours due to a 2% drop in Reliance Industries' stock price during a volatile trading session ¹. This substantial loss has knocked Ambani down to 15th on the Bloomberg Billionaires Index, with his net worth now sitting at $102 billion ¹.

It's worth noting that this financial blow came shortly after Ambani made some high-profile purchases, including a luxury Boeing 737 private jet for $150 million and a Rolls Royce Cullinan SUV worth $1.3 million ¹. Meanwhile, fellow Indian tycoon Gautam Adani saw his wealth grow by $266 million, boosting him to 18th place on the global rich list ¹.

In other news, Ambani recently paid tribute to Ratan Tata, former head of India's biggest conglomerate Tata Group, who passed away on October 9, 2024 ². Ambani described Tata's passing as a huge loss not just for the Tata Group but for every Indian ².

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