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Rediff.com  » Business » Mukesh Ambani is India's richest person

Mukesh Ambani is India's richest person

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Last updated on: October 15, 2006 21:46 IST

In a double-treat of sorts, Reliance Industries' emergence as India's most valued firm has also catapulted its Chairman and Managing Director Mukesh Ambani to the top of the country's rich list.

After toppling state-run energy giant ONGC as India's largest corporate house among listed entities after more than four years, RIL's market cap has further swelled to over Rs 1,65,000 crore taking Mukesh Ambani's net worth based on his shareholding in group companies to more than Rs 70,000 crore.

Ambani's elevation has pushed Wipro's Azim Premji to the second position with a net worth of about Rs 64,700 crore.

The younger Ambani brother Anil's net worth has also soared after the recent record-breaking rally in the stock market. Anil Ambani maintains his position as the country's third richest person with a net worth of over Rs 61,000 crore based on his shareholding in group companies.

The combined market value of Mukesh Ambani group companies -- RIL, Reliance Petroleum (RPL), IPCL and Reliance Industrial Infrastructure Ltd (RIIL) has soared to about Rs 2,04,000 crore.

The cumulative market capitalisation of Anil Dhirubhai Ambani Group companies -- Reliance Communications, Reliance Capital, Reliance Natural Resources and Reliance Energy -- currently stands at about Rs 1,08,500 crore.

While Wipro has also witnessed a sharp rally in its share price over the recent past, Azim Premji's net worth has not risen much due to the fall in the total promoter stake in the company.
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