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Mukesh Ambani becomes Asia's richest person by overtaking China’s Hui Ka Yan

Speed News Desk | Updated on: 2 November 2017, 16:03 IST

The owner of Reliance Industries Ltd, Mukesh Ambani, has now become the Asia's richest person. As per Forbes’ real time billionaire’s list, he has overtaken China’s Hui Ka Yan who was earlier the richest person on the list. He has bagged the position by a staggering net worth of $ 42.1 billion.

The Forbes' list further revealed that Ambani’s personal wealth on Wednesday had leapt by $466 million with his company Reliance Industries Ltd shares soaring 1.22 percent to Rs 952.30. The wealth of Hui Ka Yan who is the Chairman of China Evergrande Group’s has come down by $1.28 billion to $40.6 billion on the same day.

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On 27th February, 2017, Reliance Industries had crossed 4 lakh crore market capitalisation, and will soon rose to Rs 5 lakh crore and will trump the company TCS to become the most valued company of our country this year. RIL has a mcap of Rs 4.98 crore, where HDFC Bank has 4.7 crore and ITC is valued at Rs 3.28 crore.

Mukesh Ambani opened up about his insights on his company rising at a great level during International Advertising Association’s (IAA) Leadership Awards. During the event he said, “Reliance completes 40 years of being a public company. I have been fortunate to be part of the journey from year one. I still remember that when I started off, I was a student of chemical engineering. At that time Reliance was less than 5 million dollars in enterprise value. And in 40 years within India, as an Indian company, we are now over 250 billion dollar in enterprise value. That has been a phenomenal journey.”

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Ambani had retained his position in the top of the Forbes India Rich list 2017 for the 10th consecutive year.

First published: 2 November 2017, 16:03 IST