Mukesh Ambani is India’s richest man

Mumbai, Oct 26: Energy giant Reliance Industries chairman Mukesh Ambani has retained his title as the world’s richest Indian — for the fifth year in a row — with a net worth of $ 21 billion, according to Forbes.
 London-based steel baron L. N. Mittal follows Ambani as the country’s second richest person, with wealth of $ 16 billion, the US business magazine said on its website yesterday ahead of its November Asian edition.
 Despite holding the top position, Ambani has seen his fortune drop by $ 1.6 billion in the past 12 months, Forbes said.
 “Reliance remains India’s most valuable firm despite ongoing battles with federal oil ministry over KG-D6, country’s largest offshore gas field where output has sharply declined,” said the report.
 Mittal also had a tough year, losing $ 3 billion, “as shares of his ArcelorMittal, the world’s largest steelmaker, tanked due to surging costs and slumping demand in Europe,” the magazine said.
 Software firm Wipro’s chairman Azim Premji is the third richest Indian with wealth of $ 12.3 billion.

Lastupdate on : Fri, 26 Oct 2012 21:30:00 Makkah time
Lastupdate on : Fri, 26 Oct 2012 18:30:00 GMT
Lastupdate on : Sat, 27 Oct 2012 00:00:00 IST

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