Mukesh Ambanis net worth has soared past $50 billion, making him the first Indian and only the fourth person in the world to have a wealth higher than this amount....
Reliance Industries chairman Mukesh Ambani has overtaken NRI steel tycoon Lakshmi Mittal to become the richest Indian in the world.
Mukesh Ambani’s net worth has soared past $50 billion, 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, Mexican business baron Carlos Slim Helu and investor Warren Buffett.
Market value
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 (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).
On the other hand, Lakshmi Mittal owns shares worth about $48.4 billion in ArcelorMittal. Shares of ArcelorMittal, in which Mittal family holds 44.79 per cent, were trading around 55 euros ($77) in European market on Wednesday, giving it market cap of about $108 billion. The net worth of Mr Ambani and Mr Mittal are based on current market values of their group companies, that of Gates, Buffett and Carlos Slim are based on figures for August-end. While ArcelorMittal has become world’s first steelmaker to attain a market cap of over $100 billion, Mr Ambani has become the first person in India to head a group worth more than $100 billion of market value.
