Billionaire Ambani Topples Jack Ma as Asia's Richest Person
- Reliance’s Mukesh Ambani is worth $44.3 billion on stock surge
- Ma has seen his wealth decline by $1.4 billion this year
This article is for subscribers only.
Mukesh Ambani overtook Alibaba Group founder Jack Ma to become Asia’s richest person as he positions Reliance Industries Ltd. to disrupt the e-commerce space in India.
The chairman of India’s refining-to-telecoms conglomerate, Ambani was estimated to be worth $44.3 billion on Friday with Reliance Industries Ltd. rising 1.6 percent to a record 1,099.8 rupees, according to Bloomberg Billionaires Index. Ma’s wealth stood at $44 billion at the close of trading Friday in the U.S., where the company is listed.