Gautam Adani overtakes Jeff Bezos again, bounces back to 3 on Forbes rich list

News Network
October 31, 2022

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Gautam Adani's wealth surged as Indian stocks have rallied for two weeks in a row and outperformed Wall Street shares, and as a result, he has now jumped back to the third spot on the Real-Time Billionaires List compiled by Forbes, overtaking Amazon founder Jeff Bezos again.

A $314 million rise on Monday pushed Gautam Adani's wealth to $131.9 billion, making him the third richest in the world on the Forbes list, behind Louis Vitton's Bernard Arnault, who remains at the second spot with a net worth of $156.5 billion.

Indian equity benchmarks rallied on Monday, extending their gains into the third week on expectations of major central banks adopting a less hawkish approach and retreating oil prices.

The Forbes list also reflected a sharp fall in Jeff Bezos' wealth after Amazon predicted weak holiday sales last Thursday, sending shares of the world's largest retailer plummeting in after-hours trading.

Still, while Mr Adani overtook Jeff Bezos, whose net worth stood at $126.9 billion, the rankings on the Forbes list have been swinging back and forth between gains and losses in recent weeks, mirroring the turbulence in the larger global equities markets.

The position of Gautam Adani on the list has fluctuated between second, third, and most recently fourth, based on the change in Bernard Arnault's and Jeff Bezos' wealth see-sawing driven by stock markets performance, with about $30 billion the differentiating factor between the three billionaires.

Despite the readings similar to a game of musical chairs between Gautam Adani, Bernard Arnault and Jeff Bezos for the second, third and fourth richest spot in recent weeks, Elon Musk has remained miles ahead and is the world's richest, with a net worth of 223.8 billion.

Adani Group To Invest Over $150 Billion In Pursuit Of $1 Trillion Valuation

A report showed Gautam Adani's group would invest over $150 billion across industries like green energy, data centres, airports, and healthcare as it chases the dream to join the elite global club of companies with $1 trillion valuations.

The group's market capitalisation has increased by more than 16 times in just seven years, from about $16 billion in 2015 to around $260 billion in 2022.

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News Network
November 10,2024

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Mangaluru: A heart-wrenching tragedy unfolded in the quiet Bellayuru village on the outskirts of Mangaluru as a man’s life ended on a railway track following an apparent double murder. Authorities from the Mulki police station identified the man as Karthik Bhat, 32, whose lifeless body was discovered on the tracks with his head positioned on the rail, indicating a tragic suicide.

Nearby, police recovered keys to a scooter and a house, which eventually led them to uncover a series of chilling events. Following the trail, officers located Bhat’s scooter parked near Mahammayi Temple. Inside the vehicle, they found documents confirming his identity, including an RC, insurance papers, and his driving license.

Their search continued to Bhat's home in Pakshikere, Kemral village, where they discovered a locked room. With the keys retrieved from the tracks, police unlocked the door, only to be confronted by a horrifying sight. The bodies of Priyanka (28) and her young son Hriday (4) lay in a pool of blood, pointing to a brutal murder that occurred just hours before Bhat’s suicide.

Initial investigations suggest Bhat, beleaguered by ongoing family disputes, committed the murders of his wife and son on the evening of November 8 before tragically ending his own life. A death note found in his diary hinted at his mental state and tragic intentions.

Priyanka’s family, residing in Shivamogga, was informed of the incident. The couple, married for six years, now leaves behind grieving relatives and unanswered questions. Police have initiated formal proceedings, collecting statements from family members as they continue their investigation into the tragic sequence of events.

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News Network
November 12,2024

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The Palestinian Hamas resistance movement says its fighters have killed at least 20 Israeli soldiers in northern parts of the besieged Gaza Strip in just two days, in retaliation for the occupying regime’s genocidal war on the Palestinian territory.

In a statement on Monday evening, Hamas said that fighters of its military wing, al-Qassam Brigades, “killed at least five occupation soldiers” in northern parts of the coastal territory earlier in the day.

It added that Hamas fighters also killed 15 Israeli soldiers in the war-ravaged region on Sunday.

The resistance movement’s “qualitative operation … confirms once again the failure of the criminal Zionist entity to suppress and eradicate the Palestinian resistance, which continues to direct qualitative strikes against its terrorist soldiers,” Hamas further said on its Telegram channel.

Palestinians have increased their resistance operations in the face of intensified Israeli aggression in northern Gaza that has claimed the lives of more than 1,000 over the past weeks.

“Our valiant resistance is waging a war of attrition with the criminal enemy, inflicting daily losses on its soldiers and vehicles, and all of [Israeli prime minister Benjamin] Netanyahu’s bets and dreams of achieving any of his goals are failing,” the Gaza-based resistance movement added.

Hamas also vowed that Israel’s ongoing crimes and aggression against Gaza would be met with increased resistance and painful strikes, which will continue until the aggression against Palestinians ends and the regime fully withdraws from the blockaded territory.

As the war in Gaza enters its 14th month, the Health Ministry reports that Israeli attacks have killed at least 43,603 Palestinians and wounded 102,929 others.

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News Network
November 11,2024

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The Manipur Kuki MLAs have released a statement calling out Solicitor General Tushar Mehta's 'lies' in the Supreme Court. In a joint statement, the MLAs, including those from the Bharatiya Janata Party, said they had not had any meeting with the Chief Minister since May 3, 2023, nor did they intend to meet him in the future as “he was the mastermind behind the violence”.

As per the MLAs, the SG lied about state CM N Biren Singh speaking to Kuki MLAs to control the situation there, in order to halt a Supreme Court probe into the leaked tapes which allege that Singh has been complicit in the violence that broke out between Kukis and Meitis there.

"We...clarify that we have never had any meeting with Chief Minister, Shri N. Biren Singh since May 3, 2023, nor have any intention to meet him in future as he is the mastermind behind the violence and ethnic cleansing of our people from the Imphal valley, which is continuing till today, the latest being the brutal killing and burning of Mrs Zosangkim Hmar on November 7, 2024," the letter read, while condemning the recent 'barbaric' killing of the woman there, and noting the SG's assertion is 'tantamount' to misleading the top court.

“We, the undersigned ten MLAs, have come to know that during the Supreme Court hearing held on November 8, 2024, the Solicitor General of India submitted that ‘CM is meeting all Kuki MLAs and trying to bring the situation down to get peace’. In this connection, we hereby categorically state that this submission is a blatant lie and tantamount to misleading the Hon’ble Supreme Court of India,” the statement said.

The Supreme Court, while hearing a petition by a Kuki organisation, asked that it submit audio tapes to substantiate its claim that the Chief Minister was instrumental in inciting and organising violence in the northeastern State.

Solicitor-General Tushar Mehta orally informed the court that the Chief Minister was meeting all the Kuki-Zo MLAs and that peace in the State had come at a huge cost.

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