Mukesh Ambai richest Indian; Jeff Bezos tops global rich list

Agencies
March 7, 2018

New York, Mar 7: Mukesh Ambani's net worth has soared to $40.1 billion, making him the richest Indian for the 11th year in a row, while Amazon founder Jeff Bezos toppled Bill Gates as the world's wealthiest person, says Forbes.

According to Forbes' 2018 'World's Billionaires' list, Reliance Industries Chairman Mukesh Ambani's wealth surged a whopping 72.84% to $40.1 billion (Rs 2,60,622 crore) - highest among the 119 Indian billionaires on the list.

Ambani was ranked 19th globally, up from 33rd position in 2017.

"Mukesh Ambani chairs and runs $51 billion (revenues) oil and gas giant Reliance Industries, among India's most valuable companies," Forbes said.

Bezos, referred to as the "Centi-billionaire", topped the list with a net worth of $112 billion, becoming the only person to appear in the Forbes list with a 12-figure fortune.

"Shares of his e-commerce giant Amazon rose 59% in 12 months, helping boost his fortune by $39.2 billion. It was the biggest one year gain since Forbes started tracking billionaires in 1987," it said.

The Amazon founder moved ahead of Bill Gates, who is now the second richest person globally with a fortune of $90 billion.

According to Forbes, India is home to 119 billionaires, 18 more than last year.

This year's list consists of 2,043 of the richest people in the world.

The combined net worth of this elite group is a whopping $9.1 trillion, up 18% since last year. Their average net worth is a record $4.1 billion.

Azim Premji is the second richest Indian and was ranked 58th on the overall list with a net worth of $18.8 billion, followed by Lakshmi Mittal (62nd position, net worth of $18.5 billion), Shiv Nadar (98th, $14.6 billion) and Dilip Shanghvi (115th, $12.8 billion).

The 10 richest Indians include Kumar Birla, ranked 127th overall with a fortune of $11.8 billion, Uday Kotak (143, $ 10.7 billion), Radhakishan Damani (151, $10 billion), Gautam Adani (154, $ 9.7 billion) and Cyrus Poonawalla (170, $9.1 billion).

Acharya Balkrishna, the co-founder of FMCG company Patanjali Ayurved, was ranked 274th on the list with a net worth of $6.3 billion.

"Acharya Balkrishna derives his fortune from fast-growing consumer goods giant Patanjali Ayurved. Balkrishna owns 98.6% of the privately-held company, which he cofounded with politically well-connected yoga guru Baba Ramdev," Forbes said.

Meanwhile, Anil Ambani, the younger sibling of Mukesh Ambani was ranked 887th on the list with a net worth of $2.7 billion.

Indian jeweller Nirav Modi is among the drop-offs from the list, along with Papa John's Pizza founder John Schnatter, Christoffel Wiese of South Africa, and Saudi Arabia's Prince Alwaleed Bin Talal Al Saud.

Donald Trump, who became the first billionaire president in US history in January 2017, was ranked 766th on the list, down from 544, with a fortune of $3.1 billion.

Trump's fortune fell $400 million since March 2017.

There were 259 newcomers, including the first ever cryptocurrency billionaires, while 121 dropped out due to falling fortunes or political headwinds, including 10 Saudi Arabians.

Forbes further noted that the gap between the really rich and the merely rich continues to widen, as fortunes soar to new heights so much so that the 20 richest people on the planet are worth a staggering $1.2 trillion, a sum roughly equivalent to the annual economic output of Mexico.

"In aggregate, they may represent less than 1% of total billionaires but their riches amount to 13% of the total fortune of all billionaires worldwide," Forbes said.

The Forbes Worlds Billionaires list is a snapshot of wealth using stock prices and exchange rates from February 9, 2018.

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JP
 - 
Wednesday, 7 Mar 2018

ACHE DIN ....ATLEAST FOR AMBANI/ADANI

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News Network
November 26,2024

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Former minister and ex-MLC C M Ibrahim claimed that he still heads the original JD(S) and asked former prime minister and party supremo H D Deve Gowda to cut ties with the BJP, so that the party can be strengthened again. He also said options are being explored to either strengthen the JD(S) or to float a new regional party.

He was speaking to media persons, in Mysuru, on Monday, after meeting JD(S) MLA and former minister G T Deve Gowda, who has expressed his displeasure that he has been sidelined in the party and the party leaders have indicated his retirement from politics.

He stated, “If Deve Gowda had joined the Congress, during the last Assembly election, he would have been a minister now. We retained him in the JD(S), to strengthen the party. Now, efforts are being made to strangulate Deve Gowda’s political career. I have discussed all matters with Deve Gowda. In two days, I will start a Karnataka state tour and meet some leaders. After that, I will meet Deve Gowda again, and then decide on the further course of action.”

Ibrahim said, “The original JD(S) is ours. I am still its state president. All documents and accounts are in our name. Even now, if Deve Gowda leaves BJP’s company and returns, we will build the JD(S) again”.

“Union Minister H D Kumaraswamy should mend his ways and stop making JD(S) into a family-owned company. The JD(S)’s situation has become hopeless. Its love for the BJP is over. He should understand this,” he said.

“When I was with Kumaraswamy, he spent just Rs 4 crore in Channapatna and won by 20,000 votes. Now, without me, he spent Rs 150 crore and still lost by 25,000 votes. Without Muslims’ support, the JD(S) cannot win a single seat. Now, it is proved that 19 MLAs of the JD(S) won in 2023, because of Muslims,” he added.

Speaking on other options available, Ibrahim said, “We have not yet decided to go with the Congress. We are only considering to establish a third front. Whether it is founding a new regional party, forming a third front, or strengthening the JD(S), will be decided shortly.”

Earlier during the day, before meeting Deve Gowda, Ibrahim had said, that 12 to 13 JD(S) MLAs were dissatisfied with the party, but like Deve Gowda, were enduring pain.

“Now, I have started the task of uniting them. I as the JD(S) state president, it is my responsibility to address our MLAs’ grievances. At present, the JD(S) is on fire and all JD(S) MLAs want to protect their respective constituency. Hence, they have started speaking one by one,” he said.

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News Network
November 18,2024

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Mangaluru: The Ullal police have arrested Manohar, the owner of Vazco Beach Resort, and its manager Bharath in connection with the drowning of three college girls from Mysuru at the resort’s swimming pool on November 17.

City Commissioner of Police Anupam Agrawal confirmed the arrests, stating that a case has been registered under Section 106 of BNS. The bodies of the victims, all in their twenties, have been handed over to their parents. The women had arrived at the resort for a weekend getaway on November 16.

Following the tragic incident, the resort was sealed by officials led by Mangaluru Assistant Commissioner Harshavardhan. The trade license of the resort, issued on June 13, 2024, has been suspended, and the tourism department has temporarily revoked the resort's registration. These actions prohibit the resort from engaging in any tourism-related activities until further notice.

Someshwara TMC Chief Officer stated that the suspension was due to the resort's failure to implement adequate safety measures, which resulted in the loss of three lives. Further investigations are underway.

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News Network
November 19,2024

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In the wake of the tragic drowning of three students at a resort near Ullal on the outskirts of Mangaluru city, the tourism department in Dakshina Kannada is set to implement comprehensive safety guidelines for properties with swimming pools or beach access. This initiative aims to ensure guest safety and prevent similar incidents in the future.

New Safety Mandates for Resorts and Homestays

Rashmi S.R., deputy director (in-charge) of the tourism department, announced, “We will instruct all homestays and resorts to enforce precautionary measures, especially those with pools or direct beach access. Properties must ensure 24/7 supervision, particularly during guest hours. This tragedy highlights the importance of having trained personnel on-site.”

Key Safety Guidelines

The district, home to around 150 homestays and 130 resorts, will see the following measures enforced:

  • Clearly displaying pool depths.
  • Installing adequate safety equipment, such as life buoys.
  • Employing trained lifeguards at all times.
  • Establishing clear pool operating hours.
  • Reviewing and implementing standard operating procedures (SOPs) for pool and beach usage.

Booming Beach Tourism Calls for Vigilance

Manohar Shetty, president of the Association for Coastal Tourism (ACT), Udupi, highlighted the growing popularity of beachside resorts, particularly during peak seasons. Properties in Udupi, often fully booked with tourists from Bengaluru, Mysuru, Kodagu, and Shivamogga, face increasing pressure to maintain safety standards.

Udupi district boasts 22 beachside commercial properties catering to this rising demand.

Shetty emphasized, “Authorities must scrutinize safety measures and carefully evaluate guidelines before issuing new resort licenses. Panchayats should rely on the Karnataka Town and Country Planning Act when handling such cases.”

Long-Term Solutions for Water Safety

Recognizing the need for a cultural shift in water safety, Shetty proposed integrating swimming lessons into school curricula. This move would not only equip students with essential skills but also encourage safe participation in water-based activities.

A Safer Tomorrow for Coastal Tourism

As the tourism sector thrives, Mangaluru’s proactive approach underscores its commitment to visitor safety. The tragic incident serves as a wake-up call, propelling the industry towards stricter regulations and better preparedness, ensuring that coastal vacations remain both enjoyable and safe.

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