Mukesh Ambani is again richest Asian as China's Zhong loses $22 billion

India’s Mukesh Ambani is back to being the wealthiest person in Asia.

Despite a brutal week for markets, his Reliance Industries was relatively unscathed as it said it would spin off its oil-to-chemicals business into an independent unit. With a net worth of about $80 billion, Ambani is again richer than Zhong Shanshan, whose bottled-water company tanked a record 20 per cent this week. The Chinese tycoon is worth $76.6 billion, down more than $22 billion from a peak just last week, according to the Bloomberg Billionaires Index.

Ambani spent most of the past two years leading the ranking of Asia’s richest