After oil and gas, Billionaire Mukesh Ambani Invests in Luxury Hotels Oberoi and Trident


After slogging it out in the oil rigs and gas chambers, Reliance Industries Ltd has now taken the luxury route as Billionaire Mukesh Ambani’s oil and gas based company acquired a $217 million stake in India’s luxury hotel chain, the Oberoi. This staggering amount is worth 14.12 percent stake in EIH Ltd., the listed company which holds the working reins for the Oberoi and Trident hotels. These are the same luxury hotel which were in the heat of the terrorist attack in Mumbai on the 26th November, 2008.

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At 53, Ambani is Asia’s richest man. His other major investments include over $1.2 billion in a broadband company and a cargo carrier. His future investment plans include setting up hospitals, universities and a sports marketing company as well.
[Bloomberg]