Friday, December 19, 2025 | 01:36 AM ISTहिंदी में पढें

Home / Companies / News / Mukesh Ambani lost Asia wealth crown to Jack Ma in $5.8-billion rout

Mukesh Ambani lost Asia wealth crown to Jack Ma in $5.8-billion rout

Jack Ma, the Alibaba Group Holding founder, who ceded the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani

premium

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share

P R Sanjai | Bloomberg Mumbai

4 min read Last Updated : Mar 10 2020 | 9:59 PM IST

Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index.

Ma, the Alibaba Group Holding founder, who ceded the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil

Topics : Mukesh Ambani Jack Ma Jack Ma wealth