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 people, taking over from Alibaba Group Holding’s Jack Ma.

Source: Business Standard