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
November 24,2025

Mangaluru, Nov 24: The original departure time of 11.10 pm was a distant memory for scores of Dammam-bound passengers at Mangaluru International Airport last Friday night, as their Air India Express flight was abruptly cancelled at the eleventh hour, sparking hours of frustration and chaos.

The flight, IX 885, initially scheduled to depart at 11.10 pm on November 22, was subject to two back-to-back reschedules—first pushed to 11.45 pm and then significantly postponed to 1.40 am—before the final, crushing announcement of cancellation was made. For the travellers, many of whom are likely expatriate workers with tight schedules, the last-minute change marked the beginning of a distressing ordeal.

"There was no drinking water, no food, and absolutely no proper guidance. We were left stranded like refugees," complained a stranded passenger.

According to multiple passenger accounts, the airline's ground staff failed to provide adequate support or essential amenities following the cancellation. Complaints poured in about the total absence of drinking water, food provisions, and any reliable guidance from the carrier's representatives. Travellers alleged they were left stranded for a considerable period, with no immediate arrangements or clear communication offered regarding accommodation or alternative travel to send them back home.

The incident has highlighted serious concerns over the carrier's contingency planning and customer service protocols during flight disruptions at one of India's key international gateways. The airline is yet to issue a comprehensive statement addressing the alleged lapse in passenger care.
 

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News Network
December 5,2025

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New Delhi, Dec 5: IndiGo CEO Pieter Elbers issued a public apology this evening after more than a thousand flights were cancelled today, making it the "most severely impacted day" in terms of cancellations. The biggest airline of the country cancelled "more than half" of its daily number of flights on Friday, said Elbers. He also said that even though the crisis will persist on Saturday, the airline anticipates fewer than 1,000 flight cancellations.

"Full normalisation is expected between December 10 and 15, though IndiGo cautions that recovery will take time due to the scale of operations," the IndiGo CEO said. 

IndiGo operates around 2,300 domestic and international flights daily.

Pieter Elbers, while apologising for the major inconvenience due to delays and cancellations, said the situation is a result of various causes.

The crisis at IndiGo stems from new regulations that boost pilots' weekly rest requirements by 12 hours to 48 and allow only two night-time landings per week, down from six. IndiGo has attributed the mass cancellations to "misjudgment and planning gaps".

Elbers also listed three lines of action that the airline will adopt to address the issue.

"Firstly, customer communication and addressing your needs, for this, messages have been sent on social media. And just now, a more detailed communication with information, refunds, cancellations and other customer support measures was sent," he said.

The airline has also stepped up its call centre capacity.

"Secondly, due to yesterday's situation, we had customers stranded mostly at the nation's largest airports. Our focus was for all of them to be able to travel today itself, which will be achieved. For this, we also ask customers whose flights are cancelled not to come to the airports as notifications are sent," the CEO said.

"Thirdly, cancellations were made for today to align our crew and planes to be where they need to start tomorrow morning afresh. Earlier measures of the last few days, regrettable, have proven not to be enough, but we have decided today to reboot all our systems and schedules, resulting in the highest numbers of cancellations so far, but imperative for progressive improvements starting from tomorrow," he added.

As airports witnessed chaotic scenes, the Directorate General of Civil Aviation (DGCA) stepped in to grant IndiGo a temporary exemption from stricter night duty rules for pilots. It also allowed substitution of leaves with a weekly rest period. 

Civil Aviation Minister Ram Mohan Naidu has said a high-level inquiry will be ordered and accountability will be fixed.

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News Network
December 5,2025

Mangaluru: In a significant step to curb online hate and intimidation, Mangaluru City Police have registered a suo motu case against multiple Instagram accounts accused of circulating alleged provocative and threatening content.

While monitoring social media activity on Tuesday, Kankanady Town PSI Anitha Nikkam identified the Instagram handle ‘team_targetttt_900’ for posting a hate message alongside images of lethal weapons. Another account, ‘team_nagara_900’, allegedly shared a threatening post targeting activist Bharath Kumdelu, tagging additional pages such as KARAVALI-OFFICIAL.

Several other accounts — including ‘immu_bhai.fan’, ‘target_boy_900’, ‘kings_of_manglore’, ‘team_target_boys.900’, ‘arshad_mangalore’, ‘target_ka19_ullal’, ‘team_target__’, ‘troll_tigersz_900’, ‘tr_group_900’, and ‘team_target_900’ — are also under scrutiny for spreading similar inflammatory material, police said.

Authorities have urged citizens, especially young social media users, to report suspicious pages and avoid engaging with groups that glorify violence or threaten individuals. Online hate can quickly escalate into real-world harm, and police stress that sharing or promoting such content can attract legal consequences.

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