On Wednesday, Mukesh Ambani, the chairman of Reliance Industries, became the richest person in Asia with a net worth of $42.1 billion, The Economic Times reports.
According to Forbes' real-time billionaire's list, Mr. Ambani overtook Hui Ka Yan, the Chairman of China's Evergrande Group to become the richest man in Asia on November 1.
Mukesh Ambani's wealth rose by $223 million to $41.8 billion on the back of rise in Reliance Industries Ltd stock price, whereas the wealth of Hui Ka Yan, the Chairman of China Evergrande Group slumped by $586 million to $41.2 billion.
Mukesh Ambani rose to 14th rank on Forbes' real-time billionaire's list across the globe.
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.
Last month, Reliance Industries Chairman Mukesh Ambani emerged as the richest Indian for the 10th year in a row on Forbes list as his net worth shot up to a staggering $38 billion USD (nearly Rs 2.5 lakh crore).
In India, at $19 billion, Wipro's Azim Premji is ranked the second richest Indian.
