Mukesh Ambani becomes world's richest Indian
26 Sep 2007, 1803 hrs IST,PTI
NEW DELHI: Reliance Industries chairman Mukesh Ambani has overtaken NRI steel tycoon Lakshmi Mittal to become the richest Indian in the world, thanks to the unprecedented boom in the domestic stock market.
Ambani's net worth has soared past 50 billion dollars, making him the first Indian and only the fourth person in the world to have a wealth higher than this amount. The RIL chief is now believed to be next only to software czar Bill Gates of the US, Mexican business baron Carlos Slim Helu and Warren Buffett, regarded as the world's greatest investor.
Based on the closing share prices of various group companies such as RIL, Reliance Petroleum, IPCL and Reliance Industrial Infrastructure, Mukesh Ambani is estimated to hold shares worth 50.1 billion dollars (about Rs 2,00,000 crore) through promoter holdings in these companies.
The four companies together have a market value of Rs 4,09,325 crore (103 billion dollars).
On the other hand, Mittal owns shares worth about 48.4 billion dollars in ArcelorMittal, the world's biggest steelmaker in terms of revenue, assets and market value.
Shares of ArcelorMittal, in which Mittal family holds 44.79 per cent, were trading around 55 euros (77 dollars) in European market today, giving it a market cap of about 108 billion dollars.
While the net worth of Ambani and Mittal are based on the current market values of their group companies, that of Gates, Buffett and Carlos Slim are based on figures for August-end.
Source - http://timesofindia.indiatimes.com
Full Version: Mukesh Ambani becomes world's richest Indian
Clubbing fortunes, Ambani brothers world's richest
9 Oct 2007, 2000 hrs IST,PTI
NEW DELHI: The Indian stock market boom has made the Ambani brothers arguably the richest in the world if one clubs the fortunes of Mukesh and Anil, which at USD 91.41 billion is far ahead of even the Walton family of Wal-Mart.
Sons of legendary industrialist Dhirubhai Ambani who started his career as a petrol station attendant in Yemen and later founded Reliance Industries, Mukesh and Anil split the business empire between them in June 2005 - then worth.
While Mukesh controls shares worth USD 55.81 billion, Anil owns shares worth USD 35.6 billion in their respective groups, and their combined worth stands at just over USD 170 billion.
The wealth of the two brothers as also their group companies are based on the information available on the Bombay Stock Exchange and the closing price of the group companies on Tuesday.
The net worth of the Walton family, which controls nearly 39 per cent in Wal-Mart, is around USD 72 billion based on the market capitalisation of the retailer, which is USD 184.21 billion.
In June 2005, when the Reliance empire was split its market valuation stood at a little over Rs 1,10,000 crore which has since shot up to over Rs 6,00,000 crore.
In March, Forbes magazine had ranked Mukesh and Anil Ambani as the 14th and 18th richest persons in the world. Their combined wealth then stood at USD 38.3 billion, just a little over the USD 32 billion wealth of steel baron Lakshmi Mittal (fifth richest).
After today's surge in the stock market, which saw the Bombay Stock Exchange benchmark Sensex crossing the 18,000-point milestone with a gain of 789 points, the wealth of the five richest resident Indians too has soared.
The collective wealth of the top five richest Mukesh, Anil, DLF's K P Singh, Bharti Group's Sunil Bharti Mittal and Wipro chief Azim Premji has risen by over USD 28 billion to USD 164.01 billion in less than 20 days.
The total market cap of firms listed on the BSE on Tuesday soared to Rs 54,85,247.44 crore, data available with the exchange shows. The market cap stood at about Rs 51,19,729 crore on September 26, when the Sensex hit the 17,000 mark.
Source - http://timesofindia.indiatimes.com
9 Oct 2007, 2000 hrs IST,PTI
NEW DELHI: The Indian stock market boom has made the Ambani brothers arguably the richest in the world if one clubs the fortunes of Mukesh and Anil, which at USD 91.41 billion is far ahead of even the Walton family of Wal-Mart.
Sons of legendary industrialist Dhirubhai Ambani who started his career as a petrol station attendant in Yemen and later founded Reliance Industries, Mukesh and Anil split the business empire between them in June 2005 - then worth.
While Mukesh controls shares worth USD 55.81 billion, Anil owns shares worth USD 35.6 billion in their respective groups, and their combined worth stands at just over USD 170 billion.
The wealth of the two brothers as also their group companies are based on the information available on the Bombay Stock Exchange and the closing price of the group companies on Tuesday.
The net worth of the Walton family, which controls nearly 39 per cent in Wal-Mart, is around USD 72 billion based on the market capitalisation of the retailer, which is USD 184.21 billion.
In June 2005, when the Reliance empire was split its market valuation stood at a little over Rs 1,10,000 crore which has since shot up to over Rs 6,00,000 crore.
In March, Forbes magazine had ranked Mukesh and Anil Ambani as the 14th and 18th richest persons in the world. Their combined wealth then stood at USD 38.3 billion, just a little over the USD 32 billion wealth of steel baron Lakshmi Mittal (fifth richest).
After today's surge in the stock market, which saw the Bombay Stock Exchange benchmark Sensex crossing the 18,000-point milestone with a gain of 789 points, the wealth of the five richest resident Indians too has soared.
The collective wealth of the top five richest Mukesh, Anil, DLF's K P Singh, Bharti Group's Sunil Bharti Mittal and Wipro chief Azim Premji has risen by over USD 28 billion to USD 164.01 billion in less than 20 days.
The total market cap of firms listed on the BSE on Tuesday soared to Rs 54,85,247.44 crore, data available with the exchange shows. The market cap stood at about Rs 51,19,729 crore on September 26, when the Sensex hit the 17,000 mark.
Source - http://timesofindia.indiatimes.com
So where does Bill Gates rank now ?
QUOTE(moviez @ Oct 12 2007, 04:07 PM) 
So where does Bill Gates rank now ?
Mukesh Ambani is richest among all the Indians all over the world. Bill Gates need not worry for now.
If retail industry in India takes off + with his enormous investments in Petroleum industry, I would say 2 years before Mukesh Ambani becomes the world's richest. There is no doubt about that. Its just that the retail industry hasn't taken off because populist politicians and middlemen traders(who bring no value to the economy) , but once it does, there would be no stopping him. This guy will be the richest in the world, I don't think the same can be said of his brother.
QUOTE(moviez @ Oct 12 2007, 03:37 AM)
So where does Bill Gates rank now ?
Depends on what magazine you are reading. Fortune still ranks him #1, but some other magazines (like Forbes) have some Mexican guy as the world's richest.
^Carlos Slim Helu. He's Mexican of Lebanese ancestry.
QUOTE(Tenjikuronin @ Oct 12 2007, 02:22 PM)
Depends on what magazine you are reading. Fortune still ranks him #1, but some other magazines (like Forbes) have some Mexican guy as the world's richest.
It is so hard to believe that he is not Jewish !
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