With an estimated net worth of $44.3 billion, Reliance boss Mukesh Ambani toppled over Alibaba owner Jack Ma to become Asia’s richest person on Friday.

The Chairman of India’s largest privately owned conglomerate – the Reliance Industries Ltd., Mukesh Ambani’s net worth surged by 1.6 percent on Friday – totalling to $44.3 billion net worth. According to Bloomberg Billionaires Index, the Indian business tycoon toppled over Alibaba Group Holding Ltd.’s Jack Ma with $44 billion at close of trade and became Asia’s richest person. The added fortune in Ambani’s treasury worth $4 billion this year comes from Reliance’s doubled up petrochemical capacity and a cheerful time for the revolutionary telecom startup – Reliance Jio Infocomm Ltd.

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