Now Mukesh Ambani is The Richest Man of Asia

Mukesh Ambani has beaten Chinese Billionaire To Become Richest Man In Asia

Mukesh Ambani, the chairman of Reliance Industries, is now the richest person in Asia with a net worth of $42.1 billion according to the Forbes’ real-time billionaire’s list released today i.e. on November 1.

Mr. Ambani surpassed the Chairman of China’s Evergrande Group Hui Ka Yan in the rankings when his wealth grew by $466 million owing to 1.22 per cent rise in the shares of Reliance Industries.

Globally, Mukesh Ambani’s ranking is 14th on Forbes’ real-time billionaire’s list. the list is formed on the basis of the value of his stock holding and assets of these tycoons on a real-time basis, Forbes said.

To put it in context, Mukesh Ambani’s wealth is equal to the entire GDP of the former Soviet republic of Azerbaijan, as per World Bank Data 2016 estimates,” Forbes said.

However Hui Ka Yan’s wealth decreased from $1.28 billion to $40.6 billion on Wednesday.

Mukesh Ambani, Owing to the country’s most valued firm with a market capitalization of over Rs. 6 lakh crore Reliance Industries followed by TCS, HDFC Bank, ITC and HDFC in the top five list. Reliance industries had first crossed the 6 lakh crore mark on October 24 on the NSE.

The Mukesh Ambani-led oil-to-telecom union Reliance Industries Ltd had earlier achieved a 12.5 percent increase in integrated net profit to Rs. 8,109 crore in the September quarter.

With a net worth of $93.3 billion, Amazon founder and CEO Jeff Bezos topped the list and crossed Mr. Bill Gates to become the world’s richest man.

Microsoft co-founder Bill Gates ranked second with his $89.5 billion fortune.

Facebook founder Mark Zuckerberg stood at the fifth spot with a fortune of $75.8 billion.

In India, at $19 billion, Wipro’s Azim Premji was ranked the second richest Indian.