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Tuesday, October 30, 2007

Confusion remains over Mukesh wealth-richest men in the world

MUMBAI: There’s considerable confusion over whether Mukesh is indeed the richest man in the world. Even if one adds what he holds directly in his flagship Reliance Industries as well as through RIL in IPCL, Reliance Petroleum and Reliance Infrastructure, his personal wealth works out to about $58 billion (around Rs 2,27,690 crore).

Several marketmen, however, argue that since Mukesh does not directly hold any shares in the three companies, his personal net worth should be calculated only on the basis of what he owns in RIL. This logic assumes that the value of the three companies is already imputed in the current price of RIL’s shares.

By that yardstick, his wealth will be $46 billion - still making him one of the richest men in the world.

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