Ambani Beats Alibaba To Be Asia's Richest

As per the data of Bloomberg Billionaire Index, Mukesh Ambani emerged as Richest Person in Asia in the calendar year 2018, beating China's Alibaba Group chairman Jack Ma. Reliance Chairman added $3.1 billion (Rs 21,754 crore) in the past one year.Total Net Worth of Mukesh Ambani is estimated to be at $43.2 billion (Rs 3 lakh crore approx) as of December 28th, 2018. Rise in the Reliance Industries Ltd (RIL) share contributed to the growth of wealth. From Rs 929.8 on Dec 26th last year, Reliance Share increased by 18.3 percent to reach Rs 1,100.2.

During the period when 128 billionaires in Asia lost $137 billion of wealth collectively, Mukesh Ambani continued to become more rich. Share of Reliance have shown the upward trend even when there were corrections in the stock market. Ambani is now one of the most richest in the World.

Most of the credit for the tremendous growth of Reliance in the recent past goes to Jio revolution in the Telecom Sector. People from all walks of life built the trust on Reliance with the manner in which it ended monopoly of few Telecom Operators with aggressive pricing.