90-yr-old Warren Buffett becomes 6th member of $100 bn club as Berkshire shares hit record high

News Network
March 11, 2021

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Warren Buffett has been a fixture at the top of the world’s wealth rankings for decades, but in recent years he’s slipped down the list as tech fortunes soared and his hot hand cooled.

Now, at 90, his net worth has blown past $100 billion.

The Berkshire Hathaway Inc. chairman’s wealth jumped on Wednesday to $100.4 billion, according to the Bloomberg Billionaires Index. That makes Buffett the sixth member of the $100 billion clubs, a group including Jeff Bezos, Elon Musk and his friend Bill Gates.

The clan’s combined wealth has grown rapidly, fueled by government stimulus, central-bank policy and the surging equity market. On Wednesday, President Joe Biden’s $1.9 trillion Covid-19 relief bill cleared its final congressional hurdle as the House voted to approve the legislation, adding to the $3 trillion or so in stimulus Washington has already disbursed in the past year.

Berkshire, the source of virtually all of Buffett’s wealth, has had a good start to 2021. The firm’s A-shares are up 15% this year, outpacing the 3.8% gain of the S&P 500 Index. That’s been helped by Buffett’s recent push to spend record amounts buying back Berkshire’s own stock, a notable shift for an investor who previously preferred to use the $138 billion cash pile to buy other businesses or common shares.

Share Buybacks

Buffett’s been struggling in recent years to find sizable deals to spark Berkshire’s growth, partially due to the sheer size of the conglomerate. That’s caused the shares to underperform the S&P 500 over the past five years. But in 2020, Buffett spent a record $24.7 billion on buybacks and filings indicate he’s already bought at least $4.2 billion worth of stock through mid-February.

Surpassing $100 billion is all the more notable considering how much the Omaha billionaire has given away. A co-founder of the Giving Pledge, a campaign to encourage billionaire philanthropy, Buffett has donated more than $37 billion in Berkshire stock since 2006. Without those gifts, which have cut his holdings of Berkshire Class A shares nearly in half, he’d be worth more than $192 billion.

The staggering amount of wealth accumulated by the ultra-wealthy -- $1.8 trillion by the world’s 500 richest in 2020 alone -- highlights the K-shaped recovery that’s taking place as the US emerges from the pandemic. While millions of disproportionately poor, working-class and minority people remain unemployed, the rich have seen incomes and net worth levels rise thanks to a buoyant stock market and rising home prices.

Meanwhile, more than 8 million Americans -- including many children -- fell into poverty in the second half of last year, according to an analysis by University of Chicago economist Bruce Meyer, University of Notre Dame’s James Sullivan and Zhejiang University’s Jeehoon Han.

Buffett added $1.9 billion to his fortune on Wednesday as Berkshire Class A shares hit a record high, helping lead the second day of gains for the S&P 500. 

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News Network
May 13,2025

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Srinagar: Following an unprecedented episode of intense cross-border shelling by the Pakistan Army that directly targeted the towns of Rajouri and Poonch in Jammu and Kashmir, the Indian government is moving to construct community bunkers in these towns and other vulnerable areas along the Line of Control (LoC).

While the government has, over the past decade, supported the construction of both individual and community bunkers along the LoC and the International Border (IB), towns like Rajouri and Poonch had been excluded from such initiatives. These towns were considered safe, as previous shelling incidents were largely restricted to forward villages closer to the border.

Officials now say the latest shelling marks a dangerous shift in the pattern of cross-border hostilities.

“The nature and intensity of the attack marked a significant departure from past ceasefire violations. For the first time in years, heavily populated towns like Rajouri and Poonch were directly hit,” a senior official said.

Caught unprepared, residents in both towns had little access to protective infrastructure as long-range mortar shells struck deep inside civilian areas.

“People weren’t expecting this—these towns had never been targeted before. Without bunkers, many had nowhere to go for safety,” the official added.

In response, the government now plans to build community bunkers at strategic locations throughout Rajouri and Poonch. These reinforced shelters will offer immediate protection to civilians during any future shelling incidents.

“In areas where individual bunkers aren't viable, community shelters become essential. These will provide residents with quick access to safety in emergencies,” the official noted.

The attacks have left local communities rattled.

“This is the first time shells landed so close to our homes in Poonch town,” said Abdul Rashid, a resident. “We never thought this would happen here.”

The sudden escalation has disrupted the fragile calm along the LoC, raising concerns over a potential return to more violent confrontations in the region.

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News Network
April 29,2025

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Mangaluru: Karnataka Home Minister Dr. G. Parameshwara has expressed concern over the mob lynching of an unidentified man in Mangaluru, in which several Hindutva activists have been arrested. The incident took place on April 27 near Bhatra Kallurti Temple in the Kudupu area on the outskirts of the city.

“Even if someone uttered offensive slogans, violence is not acceptable. The law must take its own course — taking matters into one’s own hands is completely wrong,” the Home Minister said, calling the act "deeply concerning."

He also urged the public to remain calm and avoid speculation. “We still don’t know if the victim was a local or from outside Karnataka. I appeal to everyone to maintain peace and communal harmony.”

What Happened

The incident occurred around 3 PM on Sunday, during a cricket tournament that involved ten teams and more than 100 players. The accused have reportedly told the police that the victim shouted "Pakistan Zindabad" — a claim now central to the investigation. A physical altercation began between the man and a local youth named Sachin (26), which quickly escalated into a violent group assault.

Eyewitnesses said while some bystanders tried to intervene, others in the crowd beat the man with sticks and kicked him repeatedly. The body was discovered near the temple later in the day, around 5:30 PM, prompting a police alert.

Post-Mortem Reveals Brutality

Initially, police did not observe major visible injuries and suspected a natural death. However, further investigation and a post-mortem at Wenlock District Hospital revealed that the man had died from internal bleeding and shock due to multiple blunt-force injuries, especially to the back, limbs, genitals, and buttocks. The injuries were consistent with an assault using wooden logs.

“This was a brutal and unprecedented case,” said Mangaluru Police Commissioner Anupam Agarwal. “We have not seen anything of this nature in the city before. The victim received no medical attention, and that proved fatal.”

Arrests and Legal Action

As of now, 15 individuals — including Sachin — have been arrested, all from Kudupu, Neermarga, Vamanjoor, and surrounding areas. The First Information Report (FIR), filed by local resident Deepak Kumar (33), names 19 individuals, with police expecting the number of accused to grow as they analyze CCTV footage and mobile data.

Authorities estimate that around 25 people were involved in the lynching. Given the number of attackers, the case has been registered under Section 103(2) of the Bharatiya Nyaya Sanhita, which specifically addresses mob lynching. The section allows for life imprisonment or death penalty for those found guilty.

“Everyone involved will be brought to justice. We will apply the strictest legal provisions,” Commissioner Agarwal stated.

Motive Under Investigation

While some arrested individuals claim the lynching was triggered by the man shouting pro-Pakistan slogans, the authorities have not yet confirmed the authenticity or context of those claims. The identity of the victim remains unknown, and forensic teams are working to establish his background and possible connections to the local area.

Police have emphasized that the investigation is ongoing and urged the public to refrain from circulating misinformation or communal narratives.

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News Network
May 8,2025

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Belagavi: Colonel Sofia Qureshi who along with Wing Commander Vyomika Singh presented the details of ‘Operation Sindoor’ is being hailed as the daughter-in-law of Karnataka’s Belagavi.

Qureshi's husband Colonel Tajuddin Bagewadi is from Konnur town in Gokak taluk. He has been serving as a colonel in the Indian Army. They were married in 2015.

Qureshi is a native of Baroda in Gujarat, being married to Tajuddin has made her the daughter-in-law of Belagavi.

During a media meet at New Delhi on Wednesday, Qureshi had shared the details of the success of Operation Sindoor which was conducted in retaliation to the terror attack at Pahalgam in Kashmir.

Qureshi has also served in the UN peacekeeping force at Kangola. She has received great appreciation from General Officer Commanding for her work along the borders of Punjab and during the floods in North-East.

Presently Sofia has been posted at Jammu while her husband Colonel Tajuddin Bagewadi at Jhanshi.

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