Forbes rich list: Anil Ambani profile

Indian tycoon is biggest loser in financial crisis with $31.9bn wiped off his fortune

A vegetarian, teetotal, marathon-running Indian tycoon, Anil Ambani, has emerged as the biggest financial loser from the global economic crisis. Ambani has seen $31.9bn (£23.2bn) of his personal wealth evaporate in a collapse in the value of his Reliance group of companies.

Ambani, 49, has a broad variety of business interests ranging from telecoms to mutual funds and Bollywood movie-making. A year ago, Forbes ranked him as the sixth-richest man in the world, with $42bn. His net worth has since dived to $10.1bn, pushing him to a lowly 34th.

Coming off the back of a boom, India's stockmarket has fared even worse than those elsewhere over the last year, dropping 44%. Shares in Ambani's Reliance Communications, Reliance Power and Reliance Capital have all plummeted.

A disciplined character, Ambani rises early in Mumbai – he once told the Hindu newspaper that he spent two hours on a treadmill and endured 30 minutes of yoga before work every morning.

On his fortune, he has remarked: "My dad always used to tell [me] wealth whispers, money shouts. Money, as you know, ceases to be important after a certain point."

What may be important to him, however, is that his fall down the rankings has left him badly trailing his older brother, Mukesh, who is worth an estimated $19.5bn. The pair do not get on – Anil last year sued for libel over a newspaper interview in which Mukesh accused Reliance of industrial espionage.

Contributor

Andrew Clark

The GuardianTramp

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