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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Murder case: Bengaluru police to challenge bail granted to actor Darshan, others in SC
Bengaluru (PTI): Bengaluru Police Commissioner B Dayananda on Tuesday said that efforts are on to file an appeal in the Supreme Court, against the bail granted to Kannada actor Darshan Thoogudeepa and other accused in the Renukaswamy murder case.
A proposal will be submitted to the state government in this regard, he said.
The Karnataka High Court on Friday granted conditional bail to Darshan, who is accused number 2 in the case.
The bench of Justice S Vishwajith Shetty had also granted bail to Darshan's friend Pavithra Gowda, who is accused number 1, and other accused - R Nagaraju, Anu Kumar alias Anu, Lakshman M, Jagadeesh alias Jagga and Pradoosh S Rao.
"In connection with the Renukaswamy murder case, with regards to bail that has been granted, efforts are on to file an appeal in the Supreme Court. We will submit a proposal to the government on this," Dayananda told reporters here.
Darshan was arrested on June 11. Pavithra Gowda and 15 other co-accused in the case were arrested during the same period.
The 47-year-old actor was already out on interim bail for medical reasons.
He had walked out of Ballari jail on October 30 after being imprisoned for more than four months, hours after the Karnataka High Court gave him relief for six weeks on medical grounds, to undergo spine surgery.
Pavithra Gowda, today walked out of the Parappana Agrahara central prison here on bail, after completing formalities.
According to police, 33-year-old Renukaswamy, a fan of the actor, had sent obscene messages to his friend Pavithra Gowda, which enraged Darshan, allegedly leading to his murder. His body was found near a stormwater drain next to an apartment in Sumanahalli here on June 9.
Raghavendra, one of the accused who is part of Darshan's fan club in Chitradurga, had brought Renukaswamy to a shed in R R Nagar here, on the pretext that the actor wanted to meet him. It was in this shed that he was allegedly tortured and murdered.
According to the post-mortem report, Renukaswamy, a native of Chitradurga, died due to shock and hemorrhage as a result of multiple blunt injuries.
Police have said Pavithra, who is accused number one, was the "major cause" for Renukaswamy's murder, claiming that it has been proved from the probe that she instigated other accused, conspired with them, and took part in the crime.
