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Monday, October 29, 2007 : 1835 Hrs

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  • Top Stories
    Ambanis 1st to hit $100-bn mark on wealth street, but together

    Mumbai (PTI): The Ambanis on Monday became the world's first family to own a fortune of over 100 billion dollars in stock market wealth, based on the combined worth of two brothers Mukesh and Anil, separated for over two years now.

    Mukesh Ambani's net worth on Monday surged to a staggering 63.2 billion dollars, while that of younger brother Anil rose to 38.5 billion dollars on the back of a sharp surge in the share prices of their group companies.

    Their combined wealth of 101.7 billion dollars is well ahead of Waltons, considered to be the world's richest family. The Walton family is the promoter of US-based retailer Wal-Mart Stores and holds a net worth of about 71 billion dollars, based on its 39 per cent stake in the behemoth.

    Mukesh and Anil - the two sons of legendary industrialist Dhirubhai Ambani, who started his career as a petrol station attendant in Yemen and later founded Reliance Industries - split the business empire between them in June 2005.

    At the time of split, the Reliance empire had a market capitalisation of little more than Rs 1,10,000 crores, which has now grown over seven times to nearly Rs 7,75,000 crores.

    According to the information available with stock exchanges, Mukesh controls shares worth Rs. 2,49,000 crores in his three group companies -- Reliance Industries, Reliance Petroleum and Reliance Industrial Infrastructure Ltd. Anil owns shares worth Rs. 1,52,000 crores through shares held in Reliance Communications, Reliance Capital, Reliance Natural Resources Ltd and Reliance Energy.


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