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Sab Maya Hai: Ambani on billionaires list

Within days of being named richest resident Indian by the US magazine Forbes, Reliance Industries Chairman Mukesh Ambani on Friday termed the hype over list of billionaires from the country as 'Maya'.

business Updated: Mar 14, 2008 15:28 IST

Within days of being named richest resident Indian by the US magazine Forbes, Reliance Industries Chairman Mukesh Ambani on Friday termed the hype over list of billionaires from the country as 'Maya'.

"There was much hype over the list of billionaires that India has thrown up... (but) this is a deceptive distraction," the head of the country's most valued corporate group said while referring to the Forbes' worldwide billionaire list that included 53 Indians.

"...It is like Maya (illusion) of our Indian philosophy .... It veils your vision and we should be beware of this titillating illusion," Ambani said while speaking at the India Today Conclave in New Delhi.

In its list published on March 5, Forbes magazine had ranked Mukesh as the richest resident Indian with a wealth of 43 billion dollars. Among all the Indians residing across the world, Mukesh was ranked second after NRI steel tycoon Lakshmi Mittal, whose wealth was put at 45 billion dollars.

In the global list, Mukesh Ambani was ranked as fifth richest in the world after legendary investor Warren Buffett, Mexican telecom baron Carlos Slim Helu, software czar Bill Gates and ArcelorMittal CEO Lakshmi Mittal.

The magazine said that Mukesh Ambani was the second biggest gainer adding 22.9 billion dollars to a wealth of 20.1 billion dollars reported in the Forbes Billionaire list for August 2007. Last year, Ambani had been placed at the 14th position in world.