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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Record-holder swimmer drowns while practicing in pool in Mangaluru
Mangaluru: Record-holder swimmer K Chandrashekhar Rai Surikumeru (52), who was known for performing yoga and somersaults underwater, died of drowning in the Mangaluru City Corporation swimming pool on Sunday.
Rai, who was a native of Surikumeru near Kalladka in Bantwal taluk, lived in Kudroli, Mangaluru. He is survived by his wife and a daughter.
He had been employed as a lifeguard at the swimming pool in Udupi under contract-basis and was working as manager of the MCC swimming pool for three years. He also worked as a lifeguard and swimming trainer.
On Sunday morning, Rai is said to have handed the security guard of the pool his mobile phone, saying he would practice for some time, but shortly after diving into the pool, he died of suffocation.
The post-mortem examination of his body was conducted at the District Wenlock Hospital and the funeral rites were held at his native place, Rai’s brother Radhakrishna Rai has said.
Rai, known for his skills in swimming, had entered the Worldwide Book of Records in 2023 by performing 28 front flip somersaults in a single stretch.
_vb_28.jpeg)
