Mukesh Ambani is world's 9th richest person; Gautam Adani slips to 23rd

News Network
March 22, 2023

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New Delhi, Mar 22: Despite an erosion of 20 per cent or $21 billion in wealth, Reliance Industries' Chairman and Managing Director Mukesh Ambani continues to be at the top 10 wealthiest individuals in the world with a wealth of $82 billion, states the 2023 M3M Hurun Global Rich List.

For the third consecutive year, Ambani retained the wealthiest Asian title.

With a 35 per cent decrease or $28 billion in wealth to $53 billion, Gautam Adani and family, of Adani Group slipped to 23rd rank in the world's wealthiest from the last year's second rank.

Adani also lost the second richest Asian title in 2023.

A report in January by US short-seller Hindenburg led to Adani seeing his wealth down by more than 60 per cent from his peak.

Last year, it was said that Adani topped the list by adding Rs 1,600 crore per day over 2022.

The other Indian billionaires who figure in the world's top 50 richest are: Cyrus Poonawalla (global rank 46, wealth $27 billion), and Shiv Nadar and family (rank 50, $26 billion).

Interestingly, barring Poonawalla whose wealth went up by 4 per cent, the wealth of all other Indian billionaires in the global top 100 wealthiest had seen an erosion.

In stark contrast to the 2022 M3M Hurun Global Rich List, India is at the top of the league table when it comes to wealth depletion.

When countries such as China and the US had 178 and 123 billionaires, respectively, who lost more than $1 billion, India has 41 billionaires who lost more than a billion-dollar YoY in 2023 M3M Hurun Global Rich List.

In terms of number of billionaires who have added $1 billion or more over the last year, India occupies sixth rank in the list.

India added 16 billionaires and occupies the third spot, comfortably ahead of Italy which added 9 billionaires in this year's list.

The richest new entrant from India, Rekha Rakesh Jhunjhunwala and family, tops the list of top 16 new Indian entrants in 2023 M3M Hurun Global Rich List.

Over the last 5 years, Indian billionaires in 2023 M3M Hurun Global Rich List added circa $360 billion to their cumulative wealth - equivalent to Hong Kong's GDP.

"M3M Hurun Global Rich List 2023 tells the story of the current global economy through the eyes of the entrepreneurs," said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.

"At a critical point in history, when India's GDP is poised to double by the end of the decade, we are excited about celebrating and benchmarking wealth creation in India with the rest of the world," said Pankaj Bansal, Director, M3M India. 

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News Network
July 17,2024

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Bengaluru: Search and rescue operations resumed on Wednesday morning in Shirur village in Uttara Kannada district, where a massive landslide claimed the lives of four people a day ago.

Vehicular traffic has been temporarily suspended on National Highway 66, where the incident occurred, officials said.

After an intensive rescue and search operation by the local police, a team of National Disaster Response Force, fire and emergency services and officials of other agencies amid rains, four bodies were recovered by Tuesday evening.

"So, far four bodies have been recovered and identified. Restoration and search operations have resumed early morning today," a senior police official said.

Among the four dead were members of the same family, who ran an eatery along the national highway.

Following the incident, the state government had said that three gas tankers had pulled up at the eatery for a tea break when mud and rocks plunged down the hill.

The landslip triggered by incessant rains also swept away two of the three tankers into the Gangavali river flowing on the other side of the road.

According to state government, the National Highways Authority of India while building National Highway 66 "cut the hill steep instead of a 45-degree slope resulting in the accident.

Meanwhile, vehicular movement has been banned till July 22 in Seethalayanagiri-Mullayanagiri area of Chikkamagaluru taluk due to collapse of hills and severe damage to the road surface owing to heavy rains.

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News Network
July 16,2024

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Bengaluru: Dengue cases in Karnataka are inching closer to the 10,000-mark, with the total positive cases as of Monday reaching 9,962 according to the health department's bulletin.

Another death in Shivamogga has brought the total fatalities due to dengue to eight. This is, however, not inclusive of the death of an 11-year-old boy in Bengaluru on July 5 that BBMP officials later confirmed was due to dengue.

Nearly 37 per cent of the all dengue positive cases reported across the state till Monday evening were among those aged up to 18 years. The number of dengue cases among children aged 0-1 years has also been on the rise, with 176 cases reported across the state.

The health department has tested over 73,900 blood samples for dengue so far, testing a few thousand samples every day.

A total of 363 cases were recorded in Bengaluru on Monday, with 35 hospitalisations. This brings the total number of positive cases in the city to 3,487. Suspected dengue cases, where people might be displaying similar symptoms as dengue but would not have yet tested positive for the infection, stood at 19,066 cases.

Between January 1 and July 1, the city recorded 1,563 positive cases with 6,443 suspected cases, according to the bulletin. Within the next two weeks, these numbers doubled to 3,124 and 14,281, respectively.

This, according to Dr Savitha S K, programme head of the vector-borne disease control programme wing of the BBMP, was not any cause for alarm. "We are actively searching for cases during our door-to-door surveys and also passively collecting data from hospitals. Last year, data was lost or not captured accurately, particularly in private hospitals, which did not record the addresses of patients. This impacted our total numbers but we are documenting cases better this year," she said.

Sources in the health department who wished to maintain anonymity noted that some of the underreporting at the city level was also in a bid to avoid panic among residents. Therefore, comparison with data from the previous year would not yield accurate results, they noted.

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News Network
July 16,2024

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Bengaluru: Senior JD(S) lawmaker HD Revanna on Tuesday launched a diatribe against Director-General of Police Alok Mohan in Karnataka Assembly, dubbing him as “unfit” to be the top cop.

But an emotional Revanna also said that his son Prajwal Revanna, the former Hassan MP accused of mass sexual abuse, should be hanged if found guilty.

“If my son has committed wrongs, then let him be hanged. I won’t say no,” Revanna said in his first Assembly appearance after his family was embroiled in the Hassan sexual abuse case. 

“I’ve been a lawmaker for 25 years. I’ve spent 40 years in public life. Against me, some woman is brought to the Director-General’s office. The DG gets the complaint filed. Isn’t he nalayak to be the DG? He’s unfit. This is a shameless government,” Revanna said. 

This riled up members of the ruling Congress, including Chief Minister Siddaramaiah who asked Deputy Speaker Ramappa Lamani in the chair to expunge the comments. 

Revanna was arrested on May 4 in a kidnap and illegal confinement case linked to the Hassan sexual abuse saga. 

Revanna rose to speak after Leader of the Opposition R Ashoka drew a comparison between the manner in which Special Investigation Teams (SIT) are probing the Hassan sexual abuse case and the embezzlement at the Maharshi Valmiki ST Development Corporation. 

“Revanna, Bhavani and our former Hassan MLA Preetham...they’re facing an SIT. But that SIT is so strong...all of them went to court seeking justice fearing arrest,” Ashoka said. “But with the other SIT, there’s no fear,” he said, adding that former minister B Nagendra was not summoned for investigation for over 30 days. 

Senior BJP lawmaker S Suresh Kumar interjected. “There’s SIT and there’s SSIT. The SIT is Special Investigation Team. The SSIT is the Siddaramaiah Shivakumar Investigation Team,” he said. Taking exception, Shivakumar said the comment should be expunged.

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