Estimated to have a net worth of $44.3 billion on Friday with Reliance Industries Ltd. rising 1.6 percent to a record high of Rs. 1,099.8, Mukesh Ambani, the Chairman of Reliance Industries has surpassed Alibaba's Jack Ma to become the richest person in Asia.
In the company' recent AGM, the billionaire expressed his outlook to now disrupt the e-commerce space after its Jio move. On the other hand, Jack Ma's worth is totalled at $44 billion at the close of trading Friday in the U.S.
The Chairman of the conglomerate Reliance Group has added a fortune of $4 billion this year while Jack Ma has lost some $1.4 billion in this year alone. The increase in the fortune of Ambani's wealth is attributed to the success of both Jio as well as doubling of its petrochemicals capacity.
The leader with spearheading capabilities claims to have the biggest and most profitable retail company, constructed the biggest refining complex in Jamnagar and also executes other large scale projects.
In the company's AGM, the entrepreneur said that the company saw its "biggest growth opportunity in creating a hybrid, online-to-offline new commerce platform". He added that "the size of Reliance will more than double by 2025".