Mumbai: Mukesh Ambani, chief of Reliance Industries (RIL), has become the first Indian with a net worth of Rs 5 lakh crore ($ 70 billion). The market capitalization of Reliance Industries has crossed Rs 10 lakh crore on Thursday. In the past 15 weeks, Mukesh Ambani and his family share value has gone up by 45 percent due to the surge in Reliance shares.

In the September quarter, promoter shareholding of Reliance increased by 2.76 percent to 50.05 percent. On Wednesday, Mukesh Ambani's assets had crossed the 5 lakh crore mark. The shares of Reliance Industries have increased by 217 percent in the last five years and its share price was around Rs 1575 on Thursday. Mukesh Ambani is the promoter of Reliance and his stake in the company is quite large. The company with the highest valuation after Reliance Industries is Tata Consultancy Services (TCS).

In comparison, TCS shares have risen 55 per cent and Sensex by 40 per cent in the last 15 weeks. Reliance Industries is the first Indian company to cross a market capital of Rs 10 lakh crore. During the trading today, Reliance shares reached their all-time high of 1,581.25. Earlier on Wednesday, Reliance shares closed at Rs 1569.75.

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