Mukesh Ambani becomes world's richest Indian

[Anindya]

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

[Vyasram]

why do ppl say "the World's richest Indian" rather than "the richest Indian"... as if some Indians live on Mars

[Pathik]

^^ Well now both are the same..
BTW Reliance stocks are soaring..

[blackpearl]

Originally Posted by Vyasram

why do ppl say "the World's richest Indian" rather than "the richest Indian"... as if some Indians live on Mars

That's because Ambani is world famous in India.

[aditya.shevade]

^^

[gaurav_indian]

^

[SunnyChahal]

Why do people say'India gareb hai'?
coz they dont know this fact.

[praka123]

India is still gareeb,though some billionaire's established more money/strength in business.

[casanova]

Congos Mukesh Ambani for this feat. India based Indian at no. 4. Great

[eggman]

Originally Posted by blackpearl

That's because Ambani is world famous in India.

Well said............ha ha

[aditya.shevade]

Originally Posted by abtom

Why do people say'India gareb hai'?
coz they dont know this fact.

This facts only says that Mukesh Ambani is rich. It does not give any info whatsoever regarding the financial status of majority of people in India...

[fun2sh]

wow thats great

[aakash_mishra]

Originally Posted by abtom

Why do people say'India gareb hai'?
coz they dont know this fact.

In India still majority of people live below Garibi Rekha
Due to them only India is still Garib....

[dantool]

well in india stock market manipulations makes you rich...
do you guys know that azim premji was richer than bill gates
for a while when wipro's(the company he owns)shares were soaring...
and now he's not even in the top ten.
well,if stock mkt crashes from here,mr ambani will also tumble down.

[magnet]

premji was not richest he was at number 2......and btw will relaince pay us for this...???nope...
if tomm mukesh starts selling all his share suddenly all market and price will crash and so will market shares price..and he wont be able to get that much money what it shows..its all technical shits this ppl do by going in different fields..they starts new ipo takes ppls 12000-20000 crore money and they we are the richest since they being the chairman its there money.....i hope u got the point....

[Maximum]

Originally Posted by magnet

premji was not richest he was at number 2......and btw will relaince pay us for this...???nope...
if tomm mukesh starts selling all his share suddenly all market and price will crash and so will market shares price..and he wont be able to get that much money what it shows..its all technical shits this ppl do by going in different fields..they starts new ipo takes ppls 12000-20000 crore money and they we are the richest since they being the chairman its there money.....i hope u got the point....

Very..well said. Its so true.

[ax3]

isnt it good 2 have RICH ppl in our country who r recognized worldwide 2 .....

[hailgautam]

Sensex 16000 to 17000 in a week and Mukesh becomes the worlds richest indian! 17000- 12000 he will not be there on the top anymore.

[Gigacore]

Oh man... where this guys will store the MONEY ?

[The_Devil_Himself]

maybe like uncle Scrooge(Duck tales).lols

[abhi_10_20]

^^lol... whether sensex crashes or not, is it gonna affect these rich ppl? i dont think so.....

[aryayush]

Originally Posted by Gigacore

Oh man... where this guys will store the MONEY ?

Actually, the money is not in their hands so they don't have to worry about storing it. It is all invested.

[hailgautam]

Originally Posted by Gigacore

Oh man... where this guys will store the MONEY ?

All his wealth is in his shares of reliance. Reliance had a dream run and that is where his wealth has come from.

[blackpearl]

Just think what would have happened if Mukesh and Anil ambani had not split. They would probably have been the richest in the world!!

[Gigacore]

guys i know that. just for fun

[abhijit_reddevil]

Ummm...Can Mr.Ambani give only 0.01% of his net worth of 50 billion USD? . I want to resign from my job.

[wizrulz]

Originally Posted by magnet

premji was not richest he was at number 2......and btw will relaince pay us for this...???nope...
if tomm mukesh starts selling all his share suddenly all market and price will crash and so will market shares price..and he wont be able to get that much money what it shows..its all technical shits this ppl do by going in different fields..they starts new ipo takes ppls 12000-20000 crore money and they we are the richest since they being the chairman its there money.....i hope u got the point....

Poeple are not mad to Invest...they do so because they trust to get its multiple times back.....what reliance has done is best is to WIN TRUST.....not any company can come up and have IPO's and make crores....they have worked hard.....and so they deserve it...may be by good route or wrong route......but its all fair unless its under carpet.......
Mukesh uis not mad to sell his shares...he will infact acquire more...if he sells first person to buy those will be ANIL ....
What u think BILL GATES, MITTAL all have the said money..no..they have it in form of shares and companies....
Be happy that Indian companies are racing up in WORLD market...