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Ambani and Adani soar as Indian billionaires outpace Chinese peers

Beijing's antitrust crackdown stunts big tech leaders' wealth growth

Reliance Industries Chairman Mukesh Ambani is the wealthiest person in Asia and the 12th-richest in the world.   © Reuters

TOKYO -- Indian billionaires have grown richer amid the coronavirus pandemic, thanks to the country's resilient stock market, outpacing Chinese technology tycoons taken down a notch by a government crackdown.

Mukesh Ambani, head of oil-to-telecom conglomerate Reliance Industries and the richest person in Asia, has seen his net worth grow 11% so far this year to $85.1 billion as of Tuesday, according to the Bloomberg Billionaires Index. This puts him in 12th place worldwide, ahead of such big Chinese names as Alibaba Group Holding founder Jack Ma.

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