RIL Chairman Mukesh Ambani surpassed the net worth of Alibaba Group founder Jack Ma to emerge as Asia’s Richest Person.
By Friday, Mukesh Ambani is estimated to be having $44.3 billion wealth after Reliance Industries Ltd. share went up by 1.6 percent to touch record Rs 1,099.8. The wealth of Jack Ma stood at $44 billion by the end of trading on Thursday in the US.
Ambani’s net worth increased $4 billion since January this year. Thanks to the tremendous success of Reliance Jio! Whereas, Jack Ma lost $1.4 billion during the same period.
At the annual meeting, Mukesh Ambani declared the size of Reliance will be more than double by 2025. The next project of Jio will be broadband service across 1,100 Indian cities by August 2018.