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Who Is Mukesh Ambani, Asia's Newest Richest Man?: QuickTake

Mukesh Ambani
Mukesh AmbaniPhotographer: Simon Dawson/Bloomberg

Move over Jack Ma, Asia has a new richest man. Mukesh Ambani, the 61-year-old force behind Reliance Industries Ltd., the oil-to-telecom behemoth, has eclipsed the Alibaba Group Holding Ltd. founder -- at least for now. It’s the latest landmark for the Indian businessman who constructed himself a 27-story home in Mumbai having lifted his father’s textile business to unimaginable heights.

Ambani’s fortune has grown to $44.3 billion, according to Bloomberg Billionaires Index. His wealth derives mainly from Reliance Industries, India’s second-biggest company with a market capitalization of more than $100 billion. Ambani is chairman and managing director and, together with his family, controls more than 43 percent. He also receives dividends, a salary and fees as a director, as well as owning a stake in Reliance Industrial Infrastructure Ltd. and holding some valuable private investments, including a gas pipeline.