Anil Ambani may be out of billionaire club

MUMBAI: Businessman Anil Ambani, who a little over a decade ago was one of the richest persons in the world with a net worth of about $42 billion, may not be a billionaire any more. At Tuesday’s close of trading on Dalal Street, the combined market capitalisation of all of Anil Ambani-controlled Reliance Group companies was nearly Rs 5,400 crore, or about $773 million.

Ambani holds less than 75% stake in each of the six companies in his group — Reliance InfrastructureNSE 18.52 %, Reliance Naval & Engineering, Reliance Power, Reliance CapitalNSE 12.36 %, Reliance Home Finance and the now-defunct Reliance CommunicationsNSE -3.45 %. Going by the market value of listed companies in his group, the younger of the two famous Ambani brothers would be worth much less than the billion-dollar mark.