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    Now Asia’s Richest man, Jack Ma

    Alibaba Founder Jack Ma is the richest person in Asia now. Pic : Collected

    Now Asia’s Richest man, Jack Ma

    Planet Desk | 11 March 2020 | 12:19 am

    Do you know who currently the richest man in Asia is? If you think it’s Mukesh Ambani, the chairman of India’s Reliance Industries Ltd., then you are wrong. According to the latest Bloomberg Billionaires’ Index, now the richest man in Asia is Jack Ma, the founder of Chinese e-commerce giant Alibaba Group.

    As per the index, Ma (55) now has got wealth estimated net worth of $44.5 billion, overtaking Mukesh Ambani (62) as the richest person in the region.

    According to Bloomberg Index, Ambani’s wealth decreased by $5.8 billion from last year due to tumble in crude oil price globally, which has removed him from the richest man status in Asia.

    Though the deadly coronavirus has had huge impact on Jack Ma’s Alibaba Group, the demand for cloud computing apps has restored some parity and thus helped increase his wealth. With $44.5 billion wealth, Jack Ma is now the 18th richest man in the world while Mukesh Ambani slided one spot and now the 19th richest man in the globe with an estimated net worth of $41.8 billion.

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    It has been a ‘bloodbath’ so to speak in the stock markets across the world. Be it India or US, stock prices have come tumbling down because of the coronavirus and the fluctuations in the crude oil prices. One man who has taken a big hit is Reliance Industries chairman Mukesh Ambani.

    Last year, Mukesh Ambani had added $17 billion to his wealth, which was the most in Asia. On the other hand, Jack Ma had added $11.3 billion to his wealth. Source : TOI

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