Live
- ‘Get Set, Grow Summit 2024’ Focuses on Digital Detox for Families
- Stokes motivates his team to put in extra effort, says England pacer Potts
- From overcoming setbacks to leading India in U19 Women’s Asia Cup, Niki Prasad's amazing journey
- Driving Enterprise Security: Inside Venkata Reddy Thummala’s Leadership Journey
- Constitution debate: PM Modi hails 'Nari Shakti'; makes strong pitch for 'United Bharat’
- Abhijeet Bhardwaj: Revolutionizing Enterprise Analytics with Innovation and Expertise
- Bihar: Inquiry initiated against principal who went to buy veggies during school hours
- Press Sri Lankan Prez for release of Indian fishermen: TN Cong MP to EAM Jaishankar
- TN: DMK postpones executive meet due to heavy rains & Parliament session
- Porous silicon oxide electrodes can fix durability issues in batteries: Researchers
Fallout of $5.8 billion rout: Jack Ma replaces Mukesh Ambani as Asia's richest
Mukesh Ambani, Reliance Industries MD and Indian energy tycoon, is no longer Asia’s richest man after he lost $5.8 billion on the back of a severe decline in RIL's share price.
Mumbai: Mukesh Ambani, Reliance Industries MD and Indian energy tycoon, is no longer Asia's richest man after he lost $5.8 billion on the back of a severe decline in RIL's share price. Mukesh Ambani lost his Asia's riches man crown to Jack Ma, the co-founder of Alibaba Group.
According to the Bloomberg Billionaires Index, Jack Ma, the co-founder of Alibaba Group and the richest person in China is now back to the top with a $44.5 billion fortune while Mukesh Ambani stands at 2nd with $42.2 billion.
Ambani's losses stemmed from 31 per cent decline in crude oil prices as Saudi Arabia started a price war with Russia.
Last week, after Facebook CEO Mark Zuckerberg, Ambani was the second-biggest hit, Forbes reported, as global markets continued to fall due to coronavirus fears.
With oil prices and global stocks collapsed in 29 years on Monday, Ambani became poorer by over Rs 41, 700 crores as shares of Reliance Industries plunged 13 per cent.
