Published 15:42 IST, May 30th 2020
Mukesh Ambani worth $36.8bn, drops to 2nd in Forbes richest sports teams owners' list
Mumbai Indians owner Mukesh Ambani has slipped to second in Forbes list of richest sports teams owners. Ambani was pipped by LA Clippers owner Steve Ballmer.
- SportFit
- 3 min read
Defending IPL champions Mumbai Indians' owner Mukesh Ambani dropped one place down in the list of Forbes richest sports teams owners. The Indian business magnate topped the Forbes list last year but was pipped by former Microsoft CEO Steve Ballmer. Despite the drop in his Reliance shares rates, Mukesh Ambani has pipped Chelsea owner Roman Abramovich, Arsenal owner Stan Kroenke and Dietrich Mateschitz, the owner of New York Red Bulls, Red Bull Racing and the Scuderia Alphatauri.
Mumbai Indians owner Mukesh Ambani is second on Forbes richest sports teams owners' list
Indian business giant Mukesh Ambani has lost his top spot in the recently released list of richest sports team owners by Forbes. Mukesh Ambani, who owns IPL's most successful side Mumbai Indians, was pipped by former Microsoft CEO Steve Ballmer, who owns NBA side Los Angeles Clippers. When Forbes combined the list, Mukesh Ambani's net worth was $36.8 billion compared to Ballmer's $52.7 billion.
However, since then, their net worth has increased significantly according to Forbes real-time net worth metric, with Mukesh Ambani's net worth values at an astonishing $53.8 billion, while Clippers owner's net worth is set to be at $65.4 billion. François Pinault, chairman of Kering, was third on Forbes list and owns Stade Rennais FC while, Dietrich Mateschitz, founder of Red Bull,, followed at No.4 spot.
Forbes noted that Mumbai Indians owner Mukesh Ambani's fortune plummeted $13 billion, to $36.8 billion, as Reliance shares in the oil and gas business slumped over energy demand concerns during a global recession. The fall in share rates saw him and Mumbai Indians dethroned by Ballmer and the Los Angeles Clippers. Mukesh Ambani bought the Rohit Sharma led-team for a reported fee of $111.9 million in 2008, making it the most expensive IPL franchise at the time. Under Mukesh Ambani's ownership, Mumbai Indians have established themselves as the most successful franchise in IPL history, lifting four IPL titles.
Forbes reports that there are 60 billionaire controlling owners of 80 teams in major sports leagues around the world, which are collectively worth $379 billion. Other notable names in the top 10 of Forbes richest sports teams owners' list are Hasso Plattner and family who own American ice hockey team San Jose Sharks, David Tepper who owns American football team Carolina Panthers, Russian billionaire Roman Abramovich Chelsea's majority owner, Philip Anschutz, the owner NHL's Los Angeles Kings and LA Galaxy in the MLS, Stanley Kroenke who owns NFL, MLS, NHL, EPL and NBA teams and Joseph Tsai, the owner of the Brooklyn Nets. Mumbai Indians owner Mukhesh Ambani is 11th on the list of world's richest people, a list topped by Amazon's Jeff Bezos for the third year running.
Updated 15:42 IST, May 30th 2020