Live
- Prabhas extends generous support to TFDA ahead of Director’s Day celebration
- Manyam district stands first in SSC
- Asad goes full throttle in campaigning as other contenders lack sting in drive
- ACB finds crores worth assets from arrested sub-registrar Taslima
- Xiaomi Smarter Living 2024 Event: Livestream, Expected Announcements, and More
- Sweet tidings for the elderly population
- WhatsApp Update: WhatsApp Develops File Sharing Without Internet
- Sharad Pawar Warns Of Emergence Of "New Putin" In India, Criticizes PM Modi's Governance Approach
- Hyd Congress pick delay leads to clamouring by many for seat
- Airtel unveils affordable International Roaming packs for customers travelling abroad
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.
