India’s first Trillionaire - Mukesh Ambani

May 28: Mukesh Ambani, India’s richest person has entered the world’s trillionaire elite club. Mukesh, the owner of Reliance Industries Ltd. has become the first person to be a trillionaire who lives in India and has only the Indian citizenship. Though Laxmi Niwas Mittal, the steel emperor is the first Indian to get this pride, but he lives in London and is a British citizen. The credit behind his success goes to Indian stock market, which make his property more than double in just a year.

Mukesh Ambani, the elder son of Dhirubhai Hiralal Ambani boosted the business of his father even after a rift and split with his younger brother Anil Ambani, who himself is not too far from becoming the next trillionaire. Anil is one of the biggest business tycoons after Mukesh and a strongest contestant in the richest Indian race. He stands on top of India’s billionaire elite club.

Besides RIL Reliance Industries Ltd, Mukesh also runs three other major pack of companies. These are: Reliance Petroleum Ltd., Indian Petrochemicals Corporation Ltd. and Reliance Industries Infrastructure Ltd. The total worth of all these companies is about Rs. 2,50,000 crore, in which his personal wealth is Rs. 1,30,000 crore and the rest is the wealth of the other share holders. On the other hand Anil is the owner of Reliance Capital Ventures, Reliance Communications Ltd, Reliance Natural Resources Ltd., and Reliance Capital Ltd., and the total asset are worth Rs. 90,000 crore, excluding those of the shareholders.

In the Forbes Billionaire list Mukesh Ambani is the on 14th position, but he has to cover a long distance to reach India’s NRI billionaire Laxmi Niwas Mittal and the world’s richest person Bill Gates, the owner of Microsoft Corporation Ltd.

The share price of Reliance industries is at Rs.1722 per share on the closing day of May 28, 2007 that has reached Rs.1784 few days ago from its origin. It was around Rs.900 per share last year that represents more than double the share price of the company.