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
February 5,2026

In an era where digital distractions are the primary rival to academic excellence, the Karnataka Education Department is taking the fight directly to the living room. As the SSLC (Class 10) annual examinations loom, officials have launched a localized "digital strike" to ensure students aren't losing their competitive edge to scrolling or soap operas.

The 7-to-9 Lockdown

The department has issued a formal directive urging—and in some cases, enforcing via home visits—a total blackout of mobile phones and television sets between 7:00 PM and 9:00 PM. This two-hour window is being designated as "sacred study time" across the state until the examinations conclude on April 2.

Key Pillars of the Initiative:

•    Doorstep Advocacy: Teachers are transitioning from classrooms to living rooms, meeting parents to explain the psychological benefits of a distraction-free environment.

•    Parental Accountability: The campaign shifts the burden of discipline from the student to the household, asking parents to lead by example and switch off their own devices.

•    The Timeline: The focus remains sharp on the upcoming exam block, scheduled from March 18 to April 2.

"The objective is simple: uninterrupted focus. We are reclaiming the evening hours for the students, ensuring their environment is as prepared as their minds," stated a senior department official.

Student vs. Reality

While the student community has largely welcomed the "forced focus"—with many admitting they lack the willpower to ignore notifications—the move has sparked a debate on enforceability. Without a "TV Police," the success of this initiative rests entirely on the shoulders of parents and the persuasive power of visiting educators.

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News Network
February 4,2026

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An Indian resident who won the Dh20 million (approximately Rs 50 crore) jackpot in Abu Dhabi's Big Ticket draw has told of his joy at sharing his life-changing fortune with a friend.

Shanthanu Shettigar, a shop manager in Muscat, regularly buys tickets for the monthly grand prize draw with one of his closest friends – and the pair won on February 3.

Mr Shettigar, 33, who is from Udyavar in Udupi district of the southern state of Karnataka and has lived in the Omani capital for eight years, said he was left speechless after learning of his success.

“When I first moved to Muscat, many of my colleagues were purchasing Big Ticket, which encouraged me to give it a try,” he said.

“I started buying tickets on my own, and later began sharing tickets with a close friend. The ticket that brought me this win was one we purchased together.”

“Like most people, I receive a lot of spam calls, and I was fully absorbed in my work as well. I knew the live draw was taking place tonight, but I never imagined my name would be announced,” he said.

“When I realised it was real and that I had won, I was honestly speechless. It still hasn’t fully sunk in, but I’m extremely happy.”

Mr Shettigar is not sure how he will spend his share of the money, but encouraged others to take part.

“This win was completely unexpected, so I want to take some time to think things through before deciding what to do next,” he said.

“I would definitely encourage others to participate with Big Ticket, whether with family or friends – you never know when your moment might come.”

The Big Ticket was established in 1992 with an initial first prize of Dh1 million. It is one of the most popular monthly raffles in the UAE.

It has transformed the lives of many people across the Emirates and beyond.

Entry to the Big Ticket Millionaire is Dh500. Tickets can be bought online or at counters at Zayed International Airport and Al Ain Airport.

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News Network
February 3,2026

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Dakshina Kannada MP Capt Brijesh Chowta has urged the Centre to give high priority to offshore wind energy generation along the Mangaluru coast, citing its strategic importance to India’s green energy and port-led development goals.

Raising the issue in the Lok Sabha under Rule 377, Chowta said studies by the National Institute of Oceanography have identified the Mangaluru coastline as part of India’s promising offshore wind ‘Zone-2’, covering nearly 6,490 sq km. He noted that the region’s relatively low exposure to cyclones and earthquakes makes it suitable for long-term offshore wind projects and called for its development as a dedicated offshore wind energy zone.

Highlighting the role of New Mangalore Port, Chowta said its modern infrastructure, multiple berths and heavy cargo-handling capacity position it well as a logistics hub for transporting and assembling large wind energy equipment.

He also pointed to the presence of major industrial units such as MRPL, OMPL, UPCL and the Mangaluru SEZ, which could serve as direct buyers of green power through power purchase agreements, improving project viability and speeding up execution.

With Karnataka’s peak power demand crossing 18,000 MW in early 2025, Chowta stressed the need to diversify renewable energy sources. He added that offshore wind projects in the Arabian Sea are strategically safer compared to the cyclone-prone Bay of Bengal.

Calling the project vital to India’s target of 500 GW of renewable energy by 2030, Chowta urged the Ministry of New and Renewable Energy to initiate resource assessments, pilot projects and stakeholder consultations at the earliest.

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