Mukesh Ambani, India’s richest man, is the biggest loser among the country’s billionaires as the rupee’s slump to record lows erased 24 per cent of his fortune.
The chairman of Reliance Industries, operator of the world’s biggest oil refinery complex, has lost $US5.6 billion ($6.2 billion) of his wealth since May 1, as the rupee’s plunge accelerated. The 56-year-old is still left with a net worth of $US17.5 billion, according to the Bloomberg Billionaires Index.
The Indian rupee is the worst-performing major currency in the world in the past month, coming under pressure as international investors sold emerging-market assets amid concern the US will pare its $US85 billion monthly stimulus.
The value of holdings by India’s billionaires are worth less in dollars as the rupee declined and foreign investors sold shares in large-cap companies, said Munesh Khanna, a senior partner at Grant Thornton LLP in Mumbai. ‘‘There is irrationality; the rupee is weak and will go down further,’’ Mr Khanna said.
‘‘Foreign institutional investors are invested in the larger-cap companies and are pulling out money from India. That is putting a lot of pressure on those companies.’’
International investors have sold a net $US3 billion of Indian stocks since June 3, according to the nation’s Securities & Exchange Board.
The S&P BSE Sensex index declined 1.9 per cent to 17,905.91 yesterday, extending its four-day drop to 7.6 per cent, the most since July 2009.
The index was flat in late morning trade today, while the rupee extended its slide, touching an all-time low of 65.13 per US dollar.
Anil Ambani, the younger brother of Mukesh, has lost 17 per cent, or $US1.3 billion, of his net worth since May. Anil Ambani, 54, has a fortune of $US6.3 billion and is the country’s eighth-richest man.
The majority of his wealth is derived from stakes in publicly traded companies, including Reliance Communications, India’s third-largest mobile-phone company by market value.
Reliance Communications reported earlier this month first- quarter profit that missed analysts’ estimates after finance costs increased because of the rupee’s weakness against the US dollar.
‘‘Companies with large foreign-currency debt will feel the pressure and their valuations will come down,’’ Mr Khanna said.
Shares of Reliance Industries, Mukesh Ambani’s most valuable asset, declined about 15 per cent from its 2013 peak on July 19 through yesterday.
The Bloomberg Billionaires Index is a dynamic measure of the world’s wealthy based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day at 5.30pm in New York.
Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to US dollars at current exchange rates.
印度卢比近来一路暴跌,印度首富穆凯什·安巴尼很是受伤,其财富一下缩水24%。
这位印度信实工业公司董事长经营者世界最大的炼油企业,由于卢比一路狂跌,他自5月1日以来已经损失了56亿美元。不过这位56岁的富翁依然还有175亿美元的财富。
毕业于斯坦福大学商学院的他性格内向,低调保守, 总称自己“怕见媒体”。但他在孟买巿使馆区建有豪宅“安蒂拉”却格外引人瞩目,楼高173米,共有27层,造价达20亿美元,屋顶可停3架直升机,顶楼设有航管中心。楼内设置9部电梯、泳池、水疗与健身房一应俱全,还有户外花园和50席电影院,1到6楼为可停160部车的停车场。
“安蒂拉”总面积约有5个足球场大,只住了穆凯什一家5口,宅内有600名佣人职员负责管理照顾。但是,担心美国减少经济刺激力度,国际投资商纷纷抛售发新兴市场资产,印度卢比遭受重创。
致同会计师事务所孟买高级合伙人康纳预测,卢比还将进一步下跌。他说,外国机构投资商正在从印度退出资金,带来巨大的压力。
据印度证交会统计,自从6月3日以来,国际投资商已经抛售30亿美元的印度股票。
穆凯什·安巴尼的弟弟、阿尼尔自5月以来损失13亿美元。54岁的阿尼尔为印度第8富翁,约有63亿美元的身家。其主要财富来自公司股票,包括印度第三大移动通讯公司。“有外资债务的公司将感受到压力,他们的市值将会下跌,”康纳说。
从1986年起,兄弟两人就开始帮助父亲打理集团日常事务。德鲁拜去世后不久,穆凯什正式继任集团主席,阿尼尔任副主席、总经理。在最初两年,兄弟俩相安无事。两人主持集团核心的石化产品业务多年,完成了不少大型炼油厂和化工厂的建设项目。
但不和之声逐渐响起。穆凯什认为自己是长子,理所应当继承父亲的全部事业;而兄长实力的不断膨胀,使阿尼尔的资产份额和管理决策的能力逐渐被掩盖,心底怨恨逐渐加深。
2004年7月起,阿尼尔就多次致信穆凯什,抱怨他将自己排除在集团重大决策之外,甚至暗中操纵董事会。他愤愤不平地说:“现在我们不再像以前那样努力巩固父亲留下的事业了,这种变化让人悲哀。”
2004年11月22日,穆凯什给公司全体员工的一封电子邮件中称,他将全权负责信实工业集团事务,
“集团所有权问题”已得到了妥善解决。被彻底激怒的阿尼尔向董事会递交长达500页的报告,历数了穆凯什的种种管理不当,指责穆凯什作假账,甚至将其告上法庭。
在母亲科姬娜·安巴尼的调解下,双方终于决定让这个闹剧收场。最终,穆凯什将掌管集团旗下主营石油化工业务的信实工业有限公司和印度石化公司,两家公司的年度营收达到190亿美元。而阿尼尔则接手信实能源、信实通讯以及信实资产三家子公司。
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