Reliance Industries' CEO Mukesh Ambani Is No Longer The Richest Man In Asia

After his net worth drop, Mukesh Ambi is no longer the richest man in Asia. He is now the world's 19th richest man.

For the chairman of Reliance Industries, March 9 was not a good day.

According to Bloomberg Billionaires, on March 9, Mukesh Ambani's net worth lost $5.8 billion. However, the following day, he gained almost $467 million.

The position of Asia's richest man of Reliance Industries' CEO was overtaken by Jack Ma, Alibaba Group's founder.

The estimated net worth of Mukesh Ambani is now at $42.3 billion.

Meanwhile, the estimated net worth of Jack Ma is $45.7 billion.

The shares of Reliance Industries dropped 12% on March 9. Crude oil prices' volatility has also impacted on the net worth of Mukesh Ambani.

While Alibaba Group was also impacted by the COVID-19 outbreak, cloud computing apps have helped restored some parity.

Jack Ma is now the world's 18th richest man.

Last year, $17 billion was added to Mukesh Ambani's wealth.

Last year, $11.3 billion was added to Jack Ma's wealth.

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