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 tragic accident took place on Saturday at Chembugudde near Thokkottu, claiming the life of a 47-year-old woman after a tanker lorry ran over her. The victim, identified as Rahmat H Rashid, was riding pillion with her husband, Abdul Rashid G, on their scooter. 

The couple was traveling from Yenepoya Hospital to Bajpe when the scooter skidded on the poorly maintained road. Rahmat fell onto the road and was fatally struck by a tanker lorry that was coming from behind. Despite being rushed to the hospital, doctors declared her dead upon arrival.

The incident prompted a swift response from the DYFI Ullal Taluk Committee, which staged a protest on Saturday night, condemning the unsafe condition of the road. Nithin Kuthar, president of the committee, criticized MLA and Legislative Assembly Speaker UT Khader for failing to ensure safe infrastructure, despite touting the road as toll-free. 

Kuthar demanded immediate repairs, warning that the committee would march to the MLA’s office with black flags if the road is not fixed within a week.

Former DYFI State President Sunil Kumar Bajal also voiced frustration over the deteriorating condition of Thokkottu market, highlighting the struggles people face while crossing roads riddled with dangerous potholes. In response to public outcry, temporary repairs were made to the road at Chembugudde on Sunday, though locals remain wary and demand a more permanent solution. 

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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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News Network
November 11,2024

Mangaluru: Six youths including teenagers have been arrested by the Bantwal Rural Police in connection with a brutal assault on 21-year-old Aboobakar (name changed to hide identity), an incident that was widely shared on social media after footage revealed the victim tied to a pole and violently beaten.

The arrested individuals, all from Kanchinadkapadavu, Sajipanadu village in Ullal Taluk, have been identified as Mohammad Sapwan (25), Mohammad Rizwan (25), Irfan (27), Anis Ahmad (19), Nasir (27), and Shakeer (18). According to police reports, the assault took place on November 7 in Kanchinadkapadavu.

The sequence of events began when Aboobakar was reportedly called to a residence in Kanchinadkapadavu by a female relative. Upon his arrival, he was confronted by the accused, who questioned his presence, tied him to a pole with ropes, and attacked him while he was shirtless. 

Aboobakar managed to file a police complaint the following day, detailing the assault. As his injuries worsened, he was admitted to a private hospital in Mangaluru.

While in the hospital, Aboobakar alleged that his attackers intended to kill him during the assault. This statement led to additional charges of attempted murder being filed. 

Police officials stated that the suspects were subsequently apprehended, charged with group assault and attempted murder, and placed in judicial custody. The investigation is ongoing, and further details are awaited.

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