Billionaire Ambani topples Jack Ma as Asia's richest person

(July 13): Mukesh Ambani overtook Alibaba Group founder Jack Ma to become Asia’s richest person, as he positions Reliance Industries Ltd to disrupt the e-commerce space in India.

The chairman of India’s refining-to-telecoms conglomerate, Ambani was estimated to be worth US$44.3 billion on Friday, with Reliance Industries Ltd rising 1.6% to a record 1,099.8 rupees, according to Bloomberg Billionaires Index. Ma’s wealth stood at US$44 billion at close of trade on Thursday in the U.S., where the company is listed.