Mukesh Ambani Overtakes Jack Ma as Asia’s Richest Person

Mukesh Ambani was 3 billion ahead of China’s Jack Ma.

Published23 Apr 2020, 08:32 AM IST
1 min read

The recent announcement that Facebook will be investing ₹43,574 crore for a 9.99% stake on a fully diluted basis in Jio Platforms, a subsidiary owned by Reliance Industries Limited (RIL), has made Mukesh Ambani the richest person in Asia.

RIL has announced in a statement that the US company will buy the stake worth nearly 10 percent of Jio Platforms, and as a result of this investment, Mukesh Ambani’s fortune rose to US$ 49 billion, an increase of US$ 4 billion.

The Bloomberg Billionaires Index states that on 23 April, as of 11:20 am GMT, Mukesh Ambani was US$ 3 billion ahead of China’s Jack Ma. Jack Ma is the founder and the former executive chairman of the Alibaba group.

The ranking changes each day after the trading day closes in the US. On Tuesday, 21 April however, as the world’s largest oil refinery owner Ambani’s wealth had declined by US$ 14 billion according to the Bloomberg ranking.

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