Ambani Joins Richest Man In World Stakes

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Market Movers

by Ryan Avent

Main

Extra Credit, Tuesday Edition How the Economist Thrives in the Age...

Oct 30 2007 8:35AM EDT

The "richest man in the world" stakes are heating up. With Bill Gates seemingly more interested in giving his money away than in accumulating more of it, it seemed inevitable that Mexico's Carlos Slim would take his place at the top of the pile. But now there's another contender, this time from India: Mukesh Ambani, subject of a long profile in the latest issue of Portfolio.

There's bound to be a fair amount of debate over this, and I'll leave it to a rival monthly business mag to run the numbers. But it is worth noting one big difference and one big similarity between Ambani and Slim. The difference is that Ambani is not a technology billionaire; the similarity is that both of them made their billions not internationally but rather domestically, in an emerging-market country. Globalization is a big thing, but the Ambani fortune almost flies in the face of it.

(Via Fox)

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