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India's Mukesh Ambani becomes Asia's richest person, moves ahead of China's Jack Ma: Report
This year alone Mukesh Ambani has added 4 billion dollars to his piggy bank through increased productivity in petrochemicals and by jolting the telecom industry with the startup Reliance Jio Infocomm.
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Ambani was estimated to be worth $44.3bn on Friday with Reliance Industries trading 1.7 per cent higher, according to Bloomberg Billionaires Index.Â
The stock fetched Rs 1,100.65 as of 12.25 pm in Mumbai and is set for a record. Jack Ma’s wealth stood at $44bn at close of trade on Thursday in the US, where the company is listed.
Earlier this month, Mukesh Ambani revealed his plan to expand into e-commerce enterprise, in close competition with the likes of Walmart and Amazon.
Alibaba Group Holding’s Ma has lost $1.4bn in 2018.
(with inputs from Bloomberg)
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