Mukesh Ambani, Asia’s richest man, saw his wealth surge US$18 billion in 2019
Straits Times : It’s been a good year for Asia’s richest man, Mukesh Ambani. The Indian tycoon added almost US$18 billion (S$24 billion) to his wealth, the most in Asia, taking his net worth to US$61.9 billion, according to the Bloomberg Billionaires Index. In comparison, Alibaba Group founder Jack Ma’s net worth grew US$11 billion, while Jeff Bezos lost US$13.6 billion. The surge in Ambani’s fortune this year was fuelled by a 40 per cent jump in the shares of his Reliance Industries, a conglomerate that’s pivoting more towards consumer offerings than its core oil refining and petrochemicals businesses.