New Dakshina Kannada SP warns of tough action against social media rumour-mongers

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. 

China's leader Xi Jinping has secured a historic third term as president from the country's rubber-stamp parliament.

It follows a consolidation of power that has made Mr Xi, 69, China's most dominant leader in generations.

In the Chinese system of governance, the functions of the president are largely ceremonial.

Mr Xi's power comes from him being General Secretary of the Communist Party and Chairman of the Central Military Commission (CMC).

Confirmation of his third term as president had been widely expected. The naming of a new premier and various ministers in the coming days is considered more important.

The new appointees are all expected to be Xi Jinping loyalists. This includes Li Qiang, who is tipped to serve as Mr Xi's number two.

Mr Xi has solidified his rule as China reopens from his bruising zero-Covid policy that has fuelled anti-government protests.

The so-called Two Sessions of the National People's Congress and the Chinese People's Political Consultative Conference (CPPCC) this week is closely watched as it provides a glimpse into China's direction in the coming years.

Since Mao Zedong, leaders in China had been limited to two terms in office. When Mr Xi had this restriction changed in 2018, it transformed him into a figure with a reach not seen since Chairman Mao.

Udupi, Mar 18: A ghastly road mishap involving a truck and a car claimed the life of a lecturer of a private engineering college at Honnavar in Uttara Kannada district.  

The deceased is identified as Anantesha Rao (45). He is survived by wife Sripriya Anantesh, principal of a private college in Mangaluru and a son.

It is learnt that Rao’s car collided with a container truck at Honnavar when he was travelling to Sode Moola Mutt from Udupi. Rao died on the spot due to excessive bleeding.