Mukesh Ambani Is Again Richest Asian as China’s Zhong Loses $22 Billion
- China’s bottled-water king dethroned Ambani in December
- Hong Kong, China markets among the biggest decliners this week
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India’s Mukesh Ambani is back to being the wealthiest person in Asia.
Despite a brutal week for markets, his Reliance Industries Ltd. was relatively unscathed as it said it would spin off its oil-to-chemicals business into an independent unit. With a net worth of about $80 billion, Ambani is again richer than Zhong Shanshan, whose bottled-water company tanked a record 20% this week. The Chinese tycoon is worth $76.6 billion, down more than $22 billion from a peak just last week, according to the Bloomberg Billionaires Index.