Mumbai: The historic surge in the markets on Tuesday also created a landmark for Indian Inc as the Ambani brothers became the richest in the world on the strength of their total market capitalisation.
The market boom arguably made the Ambani brothers the richest in the world by catapulting their combined fortunes to $91.41 billion, which is far ahead of even the Walton family of Wal-Mart.
Of this, Mukesh controls shares worth $55.81 billion while Anil owns shares worth $35.6 billion in their respective groups. Their total market capitalisation stands at just over $170 billion.
The wealth of the two brothers as also their group companies are based on the information available on the Bombay Stock Exchange and the closing price of the group companies on Tuesday.
The net worth of the Walton family, which controls nearly 39 per cent in Wal-Mart, is around $72 billion based on the market capitalisation of the retailer, which is $184.21 billion.
Mukesh and Anil — sons of legendary industrialist Dhirbuhai 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.
In June 2005, when the Reliance empire was split its market valuation stood at a little over Rs 1,10,000 crore which has since shot up to over Rs 6,00,000 crore.
In March, the Forbes magazine had ranked Mukesh and Anil Ambani as the 14th and 18th richest persons in the world. Their combined wealth then stood at $38.3 billion, just a little over the $32 billion wealth of steel baron Lakshmi Mittal (fifth richest).
After today's surge in the stock market, which saw the Bombay Stock Exchange benchmark Sensex crossing the 18,000-point milestone with a gain of 789 points, the wealth of the five richest resident Indians too has soared.
The collective wealth of the top five richest Mukesh, Anil, DLF's K P Singh, Bharti Group's Sunil Bharti Mittal and Wipro chief Azim Premji has risen by over $28 billion to $164.01 billion in less than 20 days.
The total market cap of firms listed on the BSE on Tuesday soared to Rs 54,85,247.44 crore, data available with the exchange shows. The market cap stood at about Rs 51,19,729 crore on September 26, when the Sensex hit the 17,000 mark.
(With agency inputs)
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