Mukesh Ambani becomes world's third richest CEO

Mukesh Ambani becomes world's third richest CEOMukesh Ambani, Chairman of Reliance Industries (RIL) secured third slot in the list of 10 wealthiest CEOs compiled by Forbes magazine. Mr. Ambani, whose stake in the petrochemical firm is valued at $16.8 billion, managed to get place in the list despite 62% drop in RIL share prices since January 2008. The list is prepared on the basis of the value of the CEOs' financial stake in the companies they control.
 
Mukesh's brother, Anil Ambani, has been ranked at sixth place with his stakes in various firms pegged at $9 billion. The Bharti Airtel CMD, Sunil Mittal, with $6.9-billion stake in the telecom firm, has been ranked at ninth place despite, about 30 per cent decline in share value over the past one year. However, Wipro Chief, Azim Premji failed to get place in the Forbes top 10 billionaires.

Billionaire investor Warren Buffett managed to secure the first slot in the billionaire list for the second year in a row. Software giant Oracle chief, Larry Ellison, with wealth worth $19.7 billion, replaced India-born steel king Lakshmi Mittal to fourth place, securing second slot in the list of billionaires.

LVMH chairman and CEO of the world's largest luxury goods maker, Bernard Arnault got fifth place in the list while Abdul Aziz Al Ghurair, CEO of UAE based Mashreq Bank is ranked at seventh position.

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