Mukesh Ambani overtook Alibaba Group founder Jack Ma to become Asia\u2019s richest person as he positions Reliance Industries Ltd. to disrupt the e-commerce space in India. The chairman of India\u2019s refining-to-telecoms conglomerate, Ambani was estimated to be worth $44.3 billion on Friday with Reliance Industries Ltd. rising 1.6 percent to a record 1,099.8 rupees, according to Bloomberg Billionaires Index. Ma\u2019s wealth stood at $44 billion at close of trade on Thursday in the U.S., where the company is listed. Ambani has added $4 billion to his fortune this year as Reliance doubled its petrochemicals capacity and investors cheered the success of his disruptive telecom upstart Reliance Jio Infocomm Ltd. Then earlier this month, the tycoon unveiled plans to leverage his 215 million telecom subscribers to expand his e-commerce offerings, taking on the likes of Amazon.com Inc. and Walmart Inc. Alibaba Group Holding Ltd.\u2019s Ma has lost $1.4 billion in 2018. \u201cWe need to broaden our horizon of expectation with Reliance,\u201d said Nitin Tiwari, a Mumbai-based analyst at Antique Stock Broking. \u201cThey are in for something really transformational.\u201d Ambani, best known for executing large-scale projects, spearheaded construction of the world\u2019s largest refining complex in Jamnagar, owns the most-widespread mobile data network globally and claims to have India\u2019s biggest as well as most-profitable retail firm. At this month\u2019s annual shareholders\u2019 meeting, Ambani said Reliance saw its \u201cbiggest growth opportunity in creating a hybrid, online-to-offline new commerce platform,\u201d involving the group\u2019s Reliance Retail Ltd. and Reliance Jio businesses. The latter will introduce a fiber-based broadband service across 1,100 Indian cities in August in what Ambani said would be the biggest greenfield fixed-line rollout anywhere in the world. A spokesman for Reliance didn\u2019t immediately reply to an email seeking comment. Equity Culture Within a week of the announcements, Reliance re-entered the $100 billion club after more than a decade. He used the same venue two years ago to announce his disruptive telecom venture with free offers that eventually forced smaller rivals to quit and the biggest ones to merge. The billionaire inherited Reliance from his much-storied father Dhirubhai Ambani, who is credited with sparking an equity culture among middle-class Indians and using their savings to build the group\u2019s textile and petrochemical manufacturing units. Dhirubhai\u2019s death in 2002 left the group in the hands of Mukesh and his younger brother Anil Ambani. The brothers eventually split the company in 2005, as per a family pact brokered by their mother, after years of acrimony.