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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Jyotirmath Shankaracharya slams RSS chief for 'politically convenient' position on restoring temples
Haridwar, Dec 22: Shankaracharya of the Jyotirmath Peeth in Uttarakhand Swami Avimukteshwaranand Saraswati on Sunday criticised RSS chief Mohan Bhagwat for his "politically convenient" position on restoring temples.
Avimukteshwaranand said a list of temples destroyed in the past by invaders be prepared and archaeological surveys of the structures be carried out to "restore Hindu pride".
"When he wanted power, he went around speaking about temples. Now that he has power, he is advising not to look for temples," he said on Bhagwat's remarks.
Rashtriya Swayamsevak Sangh (RSS) chief Bhagwat recently said that it was not acceptable that new temple-mosque disputes are raked up after the construction of Ram temple in Ayodhya.
The seer said a lot of atrocities have been committed against the Hindus and their religious places have been destroyed in the past. "If now, the Hindu society wants to restore and preserve its temples, then what is wrong in it?"
The Shankaracharya also criticised Union Home Minister Amit Shah's statement on BR Ambedkar in Parliament that has triggered a huge row between the ruling BJP and the Opposition.
Defending Congress leader Rahul Gandhi, Avimukteshwaranand said the scuffle outside Parliament was due to Shah's remarks on Ambedkar.
He said that there are a lot of people who support Ambedkar's ideology so everyone is using his name for their politics.
Shah has been under fire from several opposition parties since Tuesday over a comment he made referring to Ambedkar during a debate on the Constitution in the Rajya Sabha.
The next day, the BJP leader held a press conference and accused Congress of twisting facts and distorting his comments.
The seer also condemned alleged atrocities on Hindus in Bangladesh and said that the central government should take strict action on the matter. He said that illegal immigrants from Bangladesh living in India should be sent back. He slammed the central government accusing it of lack of action on the matter.
Bhagwat has recently expressed concern over the resurgence of new temple-mosque disputes and asserted that certain individuals, after the construction of Ayodhya's Ram Temple, seem to believe they can become "leaders of Hindus" by raking up such issues.
