Ambani overtakes Jack Ma as Asia's richest man after Fb-Jio deal

Mumbai: The Managing director and largest stakeholder of Reliance Industries Limited Mukesh Ambani surpassed Chinese business magnate Jack Ma to become the richest man of Asia after the trade deal between Facebook and Reliance Jio on Wednesday, April 22.

As per Bloomberg Billionaires Index on Thursday, Ambani’s fortune rose about $4 billion to $ 49 billion on Wednesday, as he surpassed Jack Ma by about $ 3 billion at 11.20 am London time.

The ranking official updates after the close of each trading day in the US.

Earlier in March, Jack Ma had overtaken Ambani to become Asia’s richest man after the biggest oil plunge in the last 29 years. Even though, Reliance Industries were impacted, Ma’s Alibaba Holdings did not impact due to the demand for cloud computing and mobile apps services amid worldwide lockdown.