A New World's Richest Man?

08/14/2008 05:11 pm ET | Updated May 25, 2011

This summer, the Wealth Report brought news of a new titleholder for richest man in the world: Carlos Slim, the Mexican telecom tycoon. Aside from toppling the longtime leader Bill Gates, Mr. Slim's asccendancy also heralded a new age of wealth sprouting up in emerging markets.

Now comes news that a new richest man may be on the way, this time from India. According to this Journal article by my colleague Eric Bellman, the brothers Anil and Mukesh Ambani, who control the Reliance group of companies, are now worth close to $100 billion. Elder brother Mukesh, age 50, is worth more than $45 billion on paper, while Anil, age 48, is worth $35 billion or more.

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