Mukesh Ambani net worth|: Shares of Reliance Industries saw massive selloff on Monday after crude oil prices fell over 30%. File photo

New Delhi: Asia's richest person Mukesh Ambani became poorer by over Rs 44,000 crore on Monday as shares of his flagship company Reliance Industries tanked nearly 14% to an intraday low of Rs 1,095 apiece, its biggest intraday fall in 11 years.

According to Forbes real-time net worth, the billionaire's net worth stood at $ 41.8 billion, down 12.40% as of 13:45 pm on Monday. In a single day, his net worth fell by $5.9 billion.

Shares of Reliance Industries saw massive selloff on Monday after crude oil prices fell over 30% as top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets.

Analysts say the fall in crude prices will impact the profitability of RIL as its gross refining margins (GRM), the money it makes in turning a barrel of crude into fuel, will come under pressure. In the December quarter, RIL's GRM stood at $9.2 per barrel.

RIL's market capitalisation fell by over Rs 1 lakh crore today. With today's fall, RIL's market capitalisation fell below the Rs 7 lakh crore mark. Worth mentioning here is that in November last year, RIL became the first Indian company to hit a market capitalisation of Rs 10 lakh crore. In this year so far, RIL's market value fell by Rs 3 lakh crore.

Similarly, shares of state-owned oil explorer ONGC also fell nearly 14% to a fresh 52-week low of Rs 76.25 on worries over refining margin.