2 Indians in US' Richest Entrepreneurs Under 40 list: Forbes

December 13, 2016

New York, Dec 13: Two Indian-origin men have figured in Forbes magazine's second annual list of wealthiest entrepreneurs under the age of 40 which is topped by Facebook founder Mark Zuckeberg.

forbes

Vivek Ramaswamy, a successful biotech entrepreneur has been ranked 24th on 'America's Richest Entrepreneurs Under 40 2016' list with a networth of 600 million dollars and Apoorva Mehta stands at 31st spot with a 360 million dollars networth.

Ramaswamy, 31, a Harvard University and Yale School of Management alumnus, continues to make waves in the biotech business with his deals and drug development plans, Forbes said.

He was behind the biggest biotechnology initial public offering of 2016, Myovant Sciences, which raised USD 218 million listing its shares on Nasdaq in October, it said.

Last year, Ramaswamy pulled off the biggest IPO in the US biotech history by listing shares of Axovant, a company that is trying to develop a new Alzheimer's drug.

He runs Roivant Sciences, a biotech holding company with an innovative financial strategy to develop drugs, often by purchasing drugs that have been forgotten or abandoned by the pharmaceutical industry.

Forbes called Mehta one of Silicon Valley's youngest immigrant success stories. Born in India, Mehta and his family moved to Canada in 2000, where he studied engineering at the University of Waterloo before working at Blackberry, Qualcomm, and then Amazon. In 2012, he cofounded Instacart, a grocery delivery service that partners with grocery chains.

Customers can order groceries through a mobile app, and pay fees of typically under USD 10 to get deliveries in an hour or two from Instacart contractors. The company is valued at an estimated USD 2 billion, and most recently raised funding from Whole Foods Market in March 2016, it said.

The list has been topped by Zuckerberg, whose Facebook shares and net worth soared to new heights. He is now worth USD 50 billion, up USD 2.9 billion from a year ago.

Newcomers to the 2016 ranks include NBA stars Kobe Bryant and LeBron James and boxer Floyd Mayweather as well as pop star Beyonce and actress-turned-consumer products marketer Jessica Alba. The last two are the only women among the top 40 under 40.

All five of these superstars have net worths that range from USD 275 million to USD 350 million, Forbes said.

The richest under 40 newcomer is Bryan Sheffield, who has struck it rich in the Texas oil patch. Sheffield is worth USD 1.45 billion. Another new billionaire is Kevin Systrom, cofounder of photo-sharing app Instagram.

To be eligible for the list, individuals had to be under the age of 40 as of December 12. These entrepreneurs also have to reside in the US and substantially have made their own fortunes in this country, Forbes said.

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News Network
July 2,2020

Naypyitaw, Jul 2: A landslide at a jade mine in northern Myanmar has killed at least 113 people, officials say, warning the death toll is likely to rise further.

The incident took place early on Thursday in the jade-rich Hpakant area of Kachin state after a bout of heavy rainfall, the Myanmar Fire Services Department said on Facebook.

"The jade miners were smothered by a wave of mud," the statement said. "A total of 113 bodies have been found so far," it added, raising the death toll from at least 50.

Photos posted on the Facebook page showed a search and rescue team wading through a valley apparently flooded by the mudslide.

'No one could help them'

Maung Khaing, a 38-year-old miner from the area, said he saw a towering pile of waste that looked on the verge of collapse and was about to take a picture when people began shouting "run, run!"

"Within a minute, all the people at the bottom [of the hill] just disappeared," he told Reuters news agency by phone.

"I feel empty in my heart. I still have goosebumps ... There were people stuck in the mud shouting for help, but no one could help them."

Tar Lin Maung, a local official with the information ministry, said authorities had recovered more than 100 bodies.

"Other bodies are in the mud. The numbers are going to rise," he told Reuters.

Fatal landslides are common in the poorly regulated mines of Hpakant, the victims often from impoverished communities who risk their lives hunting the translucent green gemstone.

The government of Myanmar leader Aung San Suu Kyi pledged to clean up the industry when it took power in 2016, but activists say little has changed.

Official sales of jade in Myanmar were worth $750.4m in 2016-2017, according to data published by the government as part of the Extractive Industries Transparency Initiative.

But experts believe the true value of the industry, which mainly exports to China, is much larger.

Northern Myanmar's abundant natural resources - including jade, timber, gold and amber - have also helped finance both sides of a decades-long conflict between ethnic Kachin and the military.

The fight to control the mines and the revenues they bring frequently traps local civilians in the middle.

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News Network
June 2,2020

Minneapolis, Jun 2: An official autopsy released Monday ruled that George Floyd, the African-American man whose death at police hands set off unrest across the United States, died in a homicide involving "neck compression".

George, 46, died of "cardiopulmonary arrest complicating law enforcement subdual, restraint, and neck compression," and the manner of death was "homicide," the Hennepin County Medical Examiner in Minneapolis said in a statement.

Floyd's other significant health conditions were listed as "arteriosclerotic and hypertensive heart disease; fentanyl intoxication; recent methamphetamine use."

The statement added that the "manner of death is not a legal determination of culpability or intent."

It emphasized that under Minnesota state law "the Medical Examiner is a neutral and independent office and is separate and distinct from any prosecutorial authority or law enforcement agency."

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News Network
April 17,2020

The coronavirus pandemic has sickened more than 2,425,000 people, according to official counts. So far at least 164,000 people have died, and the virus has been detected in at least 177 countries, as the following table shows.

United States 

780,330

37,782

Spain

200,210

20,852

Italy 

181,228

24,114

Germany

141,672

4,404

U.K.

124,743

16,509

France

114,657

20,265

Turkey

90,980

2,140

Mainland China

88,466

4,632

Iran

83,505

5,209

Russia

47,121

405

Brazil

40,743

2,587

Belgium

39,983

5,828

Canada

36,823

1,690

Netherlands

33,405

3,751

Switzerland

27,944

1,142

Portugal

20,863

735

India

18,539

592

Peru

16,325

445

Ireland

15,652

687

Austria

14,795

470

Sweden

14,777

1,580

Israel

13,713

177

Japan

10,915

168

South Korea

10,674

236

Chile

10,507

139

Saudi Arabia

10,484

103

Ecuador

10,128

507

Poland

9,593

380

Romania

8,936

478

Mexico

8,772

712

Pakistan

8,418

176

Singapore

8,014

11

Denmark

7,515

364

U.A.E.

7,265

43

Norway

7,156

181

Czech Republic

6,900

194

Indonesia

6,760

590

Serbia

6,630

125

Australia

6,625

71

Philippines

6,459

428

Belarus

6,264

51

Qatar

6,015

9

Ukraine

5,710

151

Malaysia

5,425

89

Dominican Rep.

4,964

235

Panama

4,467

126

Colombia

3,977

189

Finland

3,868

98

Luxembourg

3,558

75

Egypt

3,333

250

South Africa

3,300

58

Morocco

3,046

143

Bangladesh

2,948

101

Argentina

2,941

136

Thailand

2,792

47

Algeria

2,718

384

Moldova

2,548

70

Greece

2,245

116

Kuwait

1,995

9

Hungary

1,984

199

Bahrain

1,907

7

Croatia

1,881

47

Kazakhstan

1,852

19

Iceland

1,773

10

Uzbekistan

1,627

5

Iraq

1,574

82

Estonia

1,535

40

New Zealand

1,440

12

Azerbaijan

1,436

19

Oman

1,410

7

Armenia

1,339

22

Slovenia

1,335

77

Lithuania

1,326

37

Bosnia and Herzegovina

1,309

49

North Macedonia

1,225

54

Slovakia

1,173

13

Cameroon

1,163

42

Cuba

1,087

36

Ghana

1,042

9

Afghanistan

1,026

36

Hong Kong

1,025

4

Bulgaria

929

43

Tunisia

884

38

Ivory Coast

847

9

Djibouti

846

2

Cyprus

772

12

Latvia

739

5

Andorra

717

37

Lebanon

677

21

Nigeria

665

22

Costa Rica

662

6

Niger

648

20

Guinea

622

5

Albania

584

26

Burkina Faso

581

38

Kyrgyzstan

568

7

Bolivia

564

33

Uruguay

535

10

Kosovo

510

12

Channel Islands

488

24

Honduras

477

46

San Marino

462

39

West Bank & Gaza

449

3

Malta

431

3

Jordan

425

7

Taiwan

422

6

Georgia

402

4

Senegal

377

5

Congo

332

25

Mauritius

328

9

Montenegro

312

5

Sri Lanka

304

7

Isle of Man

300

9

Guatemala

289

7

Kenya

281

14

Vietnam

268

Venezuela

256

9

Tanzania

254

10

Mali

246

14

Somalia

237

8

Jamaica

223

5

El Salvador

218

7

Paraguay

208

8

Faroe Islands

185

Republic of the Congo

160

6

Rwanda

147

Brunei

138

1

Gibraltar

132

Cambodia

122

Madagascar

121

Gabon

120

1

Myanmar

119

5

Trinidad and Tobago

114

8

Ethiopia

111

3

Sudan

107

12

Liberia

99

8

Aruba

97

2

Monaco

94

3

Bermuda

86

5

Togo

84

6

Liechtenstein

81

1

Equatorial Guinea

79

Barbados

75

5

Maldives

69

Cape Verde

67

1

Sint Maarten

67

10

Cayman Islands

66

1

Guyana

65

7

Zambia

65

3

Bahamas

60

9

Haiti

57

3

Uganda

56

Benin

54

1

Libya

51

1

Guinea-Bissau

50

Macau

45

Sierra Leone

43

Eritrea

39

Mozambique

39

Syria

39

3

Chad

33

Mongolia

33

Nepal

31

Zimbabwe

25

3

Angola

24

2

Eswatini

24

1

Antigua and Barbuda

23

3

Timor-Leste

22

Botswana

20

1

Laos

19

Belize

18

2

Fiji

18

Malawi

17

2

Dominica

16

Namibia

16

Saint Kitts and Nevis

15

Saint Lucia

15

Curaçao

14

1

Grenada

14

Central African Republic

12

Saint Vincent and the Grenadines

12

Falkland Islands

11

Greenland

11

Montserrat

11

Seychelles

11

Turks and Caicos Islands

11

1

Gambia

10

1

Nicaragua

10

2

Suriname

10

1

Vatican City

9

Mauritania

7

1

Papua New Guinea

7

Western Sahara

6

Bhutan

5

British Virgin Islands

5

1

Burundi

5

1

South Sudan

4

São Tomé and Príncipe

4

Anguilla

3

Yemen

1

 

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