The Chairman of Reliance Industries, Mukesh Ambani became the richest man in Asia and has beaten Alibaba founder Jack Ma, according to the information given by the media reports.
According to the media reports, Ambani’s estimated wealth rose to a whooping 44.3 billion dollars yesterday as Reliance Industries Ltd’s shares shot up to 1.6 per cent. Alibaba Group founder Ma’s wealth stood at 44 billion dollars at close of trade on Thursday in the US.
As per the report, Ambani also announced his plans to leverage his 215 million telecom subscribers to expand his e-commerce offerings.
On the other hand, Ma lost 1.4 billion dollars in wealth this year.
The shares of RIL rose for the fifth consecutive session on Thursday, and surged to a 52-week high of Rs 1,091 on the BSE, amid aggressive business plan announced in the AGM, ahead of its June quarter earnings.