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World's Billionaires - #6

Wednesday, March 5, 2008provided by

© Kamal Narang/Business Line/The Hindu

Anil Ambani
India
$42.0 bil

• The year's biggest gainer, Anil Ambani, is up $23.8 billion in the past year and is closing gap with estranged brother, Mukesh, who ranks one spot ahead of him in the world at No. 5.
• The sons inherited their fortune from their late father, renowned industrialist Dhirubhai Ambani.  But they couldn't get along, and in 2005 their mother brokered a peace settlement breaking up the family's assets.
• A marathon runner, his biggest asset is his 65% stake in telecom venture Reliance Communications.
• He recently raised $3 billion from the highly anticipated initial offering of his Reliance Power, the biggest in India's history. Despite the hype, the stock tumbled 17% immediately after its February listing. In a bid to appease investors, company's board recently approved the issue of bonus shares.
• Still feuding with brother Mukesh: battling him in court over a gas-supply agreement.

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