Mukesh Ambani, Asia’s richest man, lost as much as $5 billion from his net worth as Reliance Industries Ltd.’s shares tumbled to the lowest price in more than three months following a drop in quarterly profit.
The stock of India’s most-valuable company fell as much as 6.8% in Mumbai on Monday as of 12:21 p.m., slipping the most since May 12 and touching the lowest since July 20.
The benchmark S&P BSE Sensex only declined as much as 0.7%. The slide also shaved down Ambani’s wealth to about $73 billion to mark his worst day since March, according to the Bloomberg Billionaires Index.
Read more at Hindustan Times