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We Salute Dhirubai Ambani today!

Posted by Sathyamurthy www.sathyamurthy.com on October 29, 2007

What a great news that an Indian is now the richest man in the world. Mukesh Ambani, by virtue of his holdings in India’s pride Reliance Industries and other Companies of the group, has become the richest man in the world. He has left behind the enviable Bill Gates and Slim by a slim but important margin.

Number 20 has become some sort of a memorable number for Indians this year. We have won the T20 world cup and have hit 20K on the sensex (which to some appear a sense less x) and at the same moment hit a double of sorts by crowning an Indian to be the Richest man in the world.

Every Indian will be surely proud of this moment.

At this euphoric moment, it is very important to remember and thank that wizard of Dalal Street Late Dhirubai Ambani who changed the India’s capital markets around 30 years back. He should be credited with creating the equity cult in India. And how much happy he would have been to see the sensex achieve this feat and his son being crowned as the king of the world.

We salute you Mr. Ambani! Thanks for making us proud.

Mukesh Ambani elbows out Gates, Slim to become world’s richest

Of about Rs 2,49,000 crore, about Rs 2,10,000 crore is from RIL (50.98% stake), Rs 37,500 crore from RPL (37.5%) and Rs 2,100 crore from RIIL (46.23%)

New Delhi: Billionaire Mukesh Ambani today became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market.

Following a strong share price rally today in his three group companies — India’s most valued firm Reliance Industries, Reliance Petroleum and Reliance Industrial Infrastructure Ltd — the net worth of Mukesh Ambani rose to $63.2 billion (Rs 2,49,108 crore).
In comparison, the net worth of both Gates and Slim is estimated to be slightly lower at around $62.29 billion each, with Slim leading among the two by a narrow margin.
Warren Buffett, earlier the third richest in the world, also dropped one position with a net worth of about 56 billion dollars.
Ambani’s wealth of about Rs 2,49,000 crore includes about Rs 2,10,000 crore from RIL (50.98% stake), Rs 37,500 crore from RPL (37.5%) and Rs 2,100 crore from RIIL (46.23%).
Slim’s wealth has been calculated on the basis of his stake in companies like America Movil (30%), Carso Global (82%), Grupo Carso (75%), Inbursa (67%), IDEAL (30%) and Saks Inc (10%).
According to information available with the US and Mexican stock exchanges where these companies are listed, Slim currently holds shares worth a total of $62.2993 billion, with more than half coming from Latin American mobile major America Movil. Slim is closely followed by Gates with a net worth of $62.29 billion currently.

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