Mukesh Ambani, Gautam Adani out of Bloomberg $100 billion club amid business setbacks
Mumbai: Reliance CMD Mukesh Ambani and Adani Group chairman Gautam Adani, two of Asia's wealthiest individuals and India's richest billionaires, have both left Bloomberg's $100 billion club for the year due to various business challenges.
The wealthiest people in India, however, saw an increase in their net worth overall. Since January 2024, the top 20 have gained $67.3 billion, with tech mogul Shiv Nadar ($10.8 billion) and Savitri Jindal ($10.1 billion) making the most gains, the report said.
Mukesh Ambani and Gautam Adani are both grappling with challenges that are affecting their business empires and personal wealth. As per the Bloomberg list, Ambani's personal fortune took a hit when the retail and energy divisions of his company underperformed. His wealth which stood at $120.8 billion in July, when his son Anant got married lavishly, dropped to $96.7 billion as of December 13, according to the Bloomberg Billionaire Index (BBI), which has investors worried about rising debt.
The issues are more serious for Adani. A US Department of Justice (DoJ) investigation is threatening his conglomerate and might halt any progress as uncertainty extends. According to the BBI, Adani's net worth dropped from $122.3 billion in June to $82.1 billion as a result of the November probe. Adani has also been hit hard by the Hindenburg Research investigation and allegations of fraud.
According to Bloomberg, Adani and Ambani are thus no longer members of the "elite centibillionaires club," which comprises those with wealth exceeding $100 billion.
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Punjab Police cops withdrawn from Kejriwal's security
Chandigarh, Jan 23 (PTI): Punjab Police personnel deployed in the security of Aam Aadmi Party national convener Arvind Kejriwal have been withdrawn, the state police chief said on Thursday.
"Time to time, we get reports of threats to chief minister Bhagwant Mann and Arvind Kejriwal and we share them with the concerned agencies.
"Following the directions of the Delhi police and the Election Commission today, we withdrew the component of the Punjab police in the security of Kejriwal ji," Director General of Police Gaurav Yadav told reporters in Patiala.
"We showed our concerns to them. We will remain in touch with them. We will share our inputs with the Delhi police," he said.
The development comes ahead of the elections for the 70-member Delhi Assembly on February 5. The poll results are set to be declared on February 8.
