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Mukesh Ambani no more Asia's richest man


According to the Bloomberg Billionaires Index, Chinese billionaire Jack Ma, the founder of e-commerce major Alibaba Group has toppled Ambani to get the top spot in Asia

Background

The persivering concerns of severe impact of the coronavirus epidemic coupled with the recent carnage in the oil markets have erased $5.8 billion from the RIL chief's net worth. Stock markets across the world have been feeling the heat . Be it India or US , stock prices have come tumbling down because of coronavirus and fluctuation in the crude oil prices.

Details

➤Ambani's current net worth amounts to $41.8 billion, while that of Jack Ma stands at $44.5 billion. Globally, Ambani is the 19th richest man just behind Jack Ma who is at the 18th rank.
➤The shares of Reliance Industries (RIL) recorded its worst fall in around 10 years on Monday as it fell to a low of Rs 1,094.95 per share.

what is bloomberg billionaires index?

➤ The Bloomberg Billionaires Index is a daily ranking of the world's richest people.  It tracks the 500 wealthiest people in the world. The ranking was designed to provide a more transparent and accountable presentation of the world's biggest personal fortunes.To know more click here...
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