Saturday Feb 27, 2021
Indian business tycoon Mukesh Ambani is back to being Asia's richest person, overtaking China's Zhong Shanshan, who lost $22 billion this week.
Indian media reported that the Reliance Industries chairperson has a net worth of about $80 billion, while Shanshan's net worth is $76.6 billion.
Shanshan's bottled-water company tanked a record 20% this week, making Ambani the richest person in Asia.
For the last two years, Ambani has led the ranking of Asia's richest people. But Shanshan grabbed the title from Ambani after the listing of his two companies. By early 2021, Shanshan was the sixth-wealthiest person on Earth.
In November 2020, Ambani had slipped three positions in the Forbes Real-Time Billionaires list after Reliance Industries Limited suffered heavy losses in the stock market.