Mukesh Ambani becomes first person with Rs 2 trn net worth

Mukesh Ambani becomes first person with Rs 2 trn net worth
PTI
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First Published: Tue, Sep 25 2007. 07 06 PM IST
Updated: Tue, Sep 25 2007. 07 06 PM IST
Mumbai: Reliance Industries chairman Mukesh Ambani today (25 September) became the first person in the country with a net worth of more than Rs two trillion as a booming stock market pushed the value of his shareholding in various group firms.
Ambani’s cumulative wealth based on his promoter holding in group companies, led by India’s most valued firm RIL, rose to Rs 2,04,945 crore at the close of today’s trading, consolidating his position as the richest Indian businessman.
His younger brother Anil Ambani stood at second position with a net worth of Rs 1,17,710 crore, taking a marginal lead over realty giant DLF’s K P Singh who has a net worth of Rs 1,15,225 crore.
The two Ambani brothers and Singh are the only three rupee trillionaires in the country based on the wealth from promoter shareholdings in various group companies.
Telecom major Bharti Airtel’s Sunil Mittal is seen moving toward joining this super-elite club with a net worth of about Rs 91,500 crore. Wipro’s Azim Premji, once the richest Indian, is at fifth place with a net worth of about Rs 50,600 crore.
The collective wealth of the five richest Indians has surged to about Rs 5,60,000 crore, over 11% of the total investor wealth of about Rs 51,11,546 crore invested in Indian stock market.
The collective market capitalisation of all four Mukesh Ambani group companies -- RIL, Reliance Petroleum, IPCL and Reliance Industrial Infrastructure Ltd (RIIL) -- has grown to Rs 4,22,170 crore, while the same for various Anil Ambani group firms is about Rs 2,00,500 crore.
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First Published: Tue, Sep 25 2007. 07 06 PM IST