Mukesh Ambani is world's richest man

Is Mukesh Ambani the richest man alive? Yes, according to a report by the Press Trust of India released on Monday, which pegged his wealth at $63.2 billion (almost Rs 2.49 lakh crore).

<b1>He has reportedly just overtaken Carlos Slim of Mexico and Microsoft’s Bill Gates, whose personal assets are $62.299 billion and $62.290 billion respectively. The calculations take into account Ambani’s holding in Reliance Industries and Reliance Petroleum through Reliance Industries, apart from stakes in Reliance Industrial Infrastructure Ltd.

However, some say he is not yet there. “Ambani’s holding in Reliance Petroleum should not be counted, as he doesn’t hold any share in the company directly and the price of Reliance Industries already reflects its investment in Reliance Petroleum,” said an industry source, requesting anonymity.

Moreover, Ambani owns around 46 per cent of Reliance Industries out of the 50.98 per cent held by the promoters. That would suggest he is worth close to $50 billion (Rs 1.9 lakh crore). But with the rupee and Sensex soaring, Ambani could soon become the undisputed richest man alive.

First Published: Oct 30, 2007 01:36 IST