Reliance Industries Chairman and billionaire Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business magnate, investor and philanthropist Jack Ma, who was the richest person in the region a year ago. Business tycoon Ambani, the richest person in India and also the wealthiest in Asia, is ranked 10 on the global billionaires' list. He reclaimed his spot as Asia's richest person with a net worth of $84.5 billion. Ambani "has become the richest person in Asia, ranked Number 10 and worth an estimated $84.5 billion. He nudges out Jack Ma of China, Asia's richest person a year ago, whose rank dropped to 26 (from 17 last year) despite a nearly $10 billion jump in his fortune to $48.4 billion," Forbes stated. India has 3rd highest number of billionaires...

Ant Group Chief Executive Simon Hu is aggressively pitching digital payment and cloud offerings to the local arms of KFC Holding Co. and Marriott International Inc., expanding the firm’s focus from banks and fund managers on its ubiquitous app. The Alibaba Group Holding Ltd. affiliate’s strategy is two-pronged. It halts Tencent and food delivery giant Meituan Dianping’s run-away success in attracting local merchants to their platforms, eroding Ant’s dominance of China’s $29 trillion mobile payments space. It also diversifies Ant’s business into less-sensitive areas after the firm drew regulatory scrutiny for its blistering expansion in financial services with in-house products. “We want to help digitize the services industry,” said Hu in his first interview with foreign media since t...

Tag: Jack Ma

Mukesh Ambani dethrones China’s Jack Ma to be Asia’s richest person again

Jack Ma’s new chieftain outlines plan to fend off Tencent