With $44.3 Bn net worth, Mukesh Ambani replaces Jack Ma as Asia's richest person

While the whole world is talking about Amazon CEO Jeff Bezos who becomes world's richest person with over $143 billion net worth, Reliance Industries supremo Mukesh Ambani has attained a new milestone of becoming Asia's richest person.

The richest Indian has just dethroned tech giant Alibaba's head Jack Ma in terms of net worth. Now Ambani holds about $44.3 billion net worth which is slightly greater than Jack Ma's $44 billion.

Both business tycoons have a huge impact on the country's Internet and startups ecosystem.

In March, Ambani was also adjudged as the 19th richest person in the world by Forbes.

This is due to the sudden rise of 1.6 per cent in RIL's shares on Friday. The company's market valuation also surged past Rs 7 lakh crore mark in the morning trade, making it the second company after TCS to achieve this milestone.

Ambani has added $4 billion to his fortune this year as Reliance doubled its petrochemicals capacity and the success of telecom-cum-mobile company Jio also fortified the company's growth.

Driven by the growth of Jio, which crossed 215 million customers, the Mukesh Ambani-led company has been exploring all possible segments of the Internet (e-commerce, telecom, FTTH, mobile phone).

In its recently concluded Annual General Meeting, Reliance announced to bring small retail players in the online format by integrating pharmacies and small grocery stores through its digital platforms.

Globally the richest person's rally is spearheaded by Bezos followed by Microsoft boss Bill Gates. Recently, Facebook CEO and founder Mark Zuckerburg had replaced Berkshire Hathaway's Warren Buffett as the world’s third-richest person.

The development was first reported by Bloomberg.