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. Soon he will Become world Richest Man Indians Rock
i own reliance petroleum stock and its doubled from the price i brought, though he is richest he made lot of investors rich as well.
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It's a pity - in spite of having so many rich people, India's average wealth is hardly anything. The rich-poor divide in India is much wider than in the western countries.
Yes this is 100% true story. Mukesh Ambani becomes worlds richest indians. Great achievements from Ambani group
i hope more indian investors invest in stock markets, its usually foreign investors who pump in max amount and make big bucks.
Yea I saw the news on TV today Great that he is now the Richest Indian in the World leaving behind Laxmi Mitthal
Nothing has really changed in the last five years for most of the poor and rural people in India. http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
Well i cant predict the future , but i think he can be but if gates goes back to his former glory he can become 1st again. Regards, Ace