Ambani Loses Asia's Richest Man Crown To Ma

The collapse in oil markets and the coronavirus epidemic have erased $5.8 billion from the net worth of Reliance Industries’ chief

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Having lost $5.8 billion in net worth on Monday as Reliance Industries share price crashed on the stock exchanges, Mukesh Ambani has lost the title of Asia’s richest man to Alibaba Founder Jack Ma. Reliance Industries’ share price took a beating after oil prices dipped below $30 a barrel.

According to the Bloomberg Billionaires Index, Jack Ma’s networth is at $44.5 billion while Ambani’s continues to be India’s richest man with a fortune of $41.8 billion. Amazon CEO Jeff Bezos continues to be the world’s richest man even though he lost $5.6 billion on Monday.