Bill Gates regains world's richest man title: Forbes

March 4, 2014

Bill_Gates_regainsNew York, Mar 4: Microsoft co-founder Bill Gates has regained the title of the world's richest man in the Forbes magazine's annual billionaire list that includes 56 India based billionaires led by RIL Chairman Mukesh Ambani.

Gates is back at the top spot after a four-year hiatus, reclaiming the title of world's richest person from Mexican telecom mogul Carlos Slim Helu, who had ranked number 1 for the previous four years.

Gates, whose fortune rose by USD 9 billion in the past year to USD 76 billion, has held the top spot for 15 of the past 20 years.

"After years focused on his philanthropy, Gates plans to spend more of his time working with product managers at Microsoft as rivals like Google and Apple continue to outshine the company in the market," Forbes said.

With a networth of USD 18.6 billion, Reliance Industries Ltd (RIL) chief Mukesh Ambani leads the pack of 56 billionaires based in India featured on the list.

His younger brother Anil Ambani is ranked 281st on the list with a net worth of USD 5 billion.

However, Forbes said the richest Indian person has seen "precipitous decline" in his fortune since 2008 when his networth was USD 43 billion and he when was the world's fifth richest person.

"Regardless he remains India's richest person and is still bullish; says he plans to invest USD 25 billion in his businesses over the next 2 years," Forbes said.

The magazine also referred to accusations of wrongdoing made against Reliance by Aam Admi Party founder Arvind Kejriwal, who had recently alleged that Ambani is "running the government".

The other Indian billionaires in the list are ArcelorMittal Chairman and CEO Lakshmi Mittal who is ranked 52nd with a networth of USD 16.7 billion, Wipro Chairman Azim Premji ranked 61st with USD 15.3 billion, founder of Sun Pharma Dilip Shanghvi ranked 82nd with USD 12.8 billion, HCL co-founder Shiv Nadar is ranked 102nd and has a net worth of USD 11.1 billion. Hinduja brothers came in at the 122nd with USD 10 billion.

Birla group chief Kumar Birla is ranked 191st and has a networth of USD 7 billion, Forbes said the ranks of the world's billionaires continued to scale new heights and stretched to new corners of the world.

The list has 1,645 billionaires with an aggregate net worth of USD 6.4 trillion, up from USD 5.4 trillion a year ago. The list features a record 268 new ten-figure fortunes, including 42 new women billionaires.

In total, there are 172 women on the list, more than ever before and up from 138 last year.

The year's biggest dollar gainer was Facebook's Mark Zuckerberg, whose fortune jumped USD 15.2 billion, to USD 28.5 billion, as shares of his social network soared.

Facebook's COO, Sheryl Sandberg, joins the ranks for the first time, as does the company's longtime vice president Jeff Rothschild.

Also, thanks to a USD 19 billion deal with Facebook, WhatsApp founders Jan Koum and Brian Acton join the ranks of Silicon Valley's wealthiest for the first time. They are 4 of 26 newcomers whose fortunes come from technology, 10 of whom are American, including Dropbox CEO Drew Houston and Workday cofounder Aneel Bhusri.

The US once again leads the world with 492 billionaires, followed by China with 152 and Russia with 111. The list has new billionaires from Algeria, Lithuania, Tanzania and Uganda.

The other Indian billionaires on the list are Indian telecom tycoon Sunil Mittal, who is ranked 244th and has a networth of USD 5.7 billion. Forbes said Mittal saw his wealth decline by USD 1.1 billion despite big

moves to cement his Bharti Airtel's position as India's biggest mobile operator which has 200 million domestic customers.

Savitri Jindal and family, is on the 295th spot tied with vaccine billionaire Cyrus Poonawala and Essar group's Shashi and Ravi Ruia, India's richest banker Uday Kotak is ranked 396th followed by Godrej group chief Adi Godrej (446), real estate mogul Kush Pal Singh (551), Hero group founder Brijmohan Lall Munjal (731), brothers Malvinder and Shivinder Singh, who control hospital chain Fortis Healthcare (828).

Sun TV Network's Kalanithi Maran (796), Indian two wheeler tycoon Rahul Bajaj (973), Infosys executive chairman N.R. Narayana Murthy (1046) and former chief executive of Infosys Nandan Nilekani (1210) are also in the list.

In the top-ten are Oracle founder Larry Ellison at the 5th spot with USD 48 billion, Koch Industries CEO Charles Koch at 6th with USD 40 billion, and Chairman and CEO, Arvest Bank Group Jim Walton on the 10th rank with USD 34.7 billion.

For the 28th annual billionaire list Forbes, compiled networth by valuing individuals' assets–including stakes in public and private companies, real estate, yachts, art and cash–and take into account estimates of debt.

Spanish clothing retailer Amancio Ortega (best known for the Zara fashion chain) retains 3rd rank for the second year in a row, extending his lead over Warren Buffett, who is again on 4th spot.

American gambling tycoon Sheldon Adelson, who added USD 11.5 billion to his pile, makes it back into the top ten for the first time since 2007.

Roughly two-thirds of the billionaires built their own fortunes, 13 per cent inherited them and 21 per cent have been adding on to fortunes they received.

Other notable newcomers include World Wrestling Entertainment CEO Vince McMahon, fashion king Michael Kors and Denise Coates of UK online betting firm Bet365.

Forbes said not all countries–or tycoons–had good years.

Turkey lost 19 billionaires due to soaring inflation, a sagging stock market and a declining value in its currency.

Indonesia, whose currency tumbled 20 per cent against the dollar, now has eight fewer ten-figure fortunes. Altogether 100 people dropped out of the ranks, while another 16 passed away.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 15,2020

The first COVID-19 vaccine tested in the US revved up people's immune systems just the way scientists had hoped, researchers reported Tuesday -- as the shots are poised to begin key final testing.

No matter how you slice this, this is good news, Dr. Anthony Fauci, the U.S. government's top infectious disease expert, told The Associated Press.

The experimental vaccine, developed by Fauci's colleagues at the National Institutes of Health and Moderna Inc., will start its most important step around July 27: A 30,000-person study to prove if the shots really are strong enough to protect against the coronavirus.

But Tuesday, researchers reported anxiously awaited findings from the first 45 volunteers who rolled up their sleeves back in March. Sure enough, the vaccine provided a hoped-for immune boost.

Those early volunteers developed what are called neutralizing antibodies in their bloodstream -- molecules key to blocking infection -- at levels comparable to those found in people who survived COVID-19, the research team reported in the New England Journal of Medicine.

This is an essential building block that is needed to move forward with the trials that could actually determine whether the vaccine does protect against infection, said Dr. Lisa Jackson of the Kaiser Permanente Washington Research Institute in Seattle, who led the study.

There's no guarantee but the government hopes to have results around the end of the year -- record-setting speed for developing a vaccine.

The vaccine requires two doses, a month apart.

There were no serious side effects. But more than half the study participants reported flu-like reactions to the shots that aren't uncommon with other vaccines -- fatigue, headache, chills, fever and pain at the injection site. For three participants given the highest dose, those reactions were more severe; that dose isn't being pursued.

Some of those reactions are similar to coronavirus symptoms but they're temporary, lasting about a day and occur right after vaccination, researchers noted.

Small price to pay for protection against COVID, said Dr. William Schaffner of Vanderbilt University Medical Center, a vaccine expert who wasn't involved with the study.

He called the early results a good first step, and is optimistic that final testing could deliver answers about whether it's really safe and effective by the beginning of next year.

It would be wonderful. But that assumes everything's working right on schedule, Schaffner cautioned.

Moderna's share price jumped nearly 15 percent in trading after US markets closed. Shares of the company, based in Cambridge, Massachusetts, have nearly quadrupled this year.

Tuesday's results only included younger adults. The first-step testing later was expanded to include dozens of older adults, the age group most at risk from COVID-19.

Those results aren't public yet but regulators are evaluating them. Fauci said final testing will include older adults, as well as people with chronic health conditions that make them more vulnerable to the virus and Black and Latino populations likewise affected.

Nearly two dozen possible COVID-19 vaccines are in various stages of testing around the world. Candidates from China and Britain's Oxford University also are entering final testing stages.

The 30,000-person study will mark the world's largest study of a potential COVID-19 vaccine so far. And the NIH-developed shot isn't the only one set for such massive U.S. testing, crucial to spot rare side effects. The government plans similar large studies of the Oxford candidate and another by Johnson & Johnson; separately, Pfizer Inc. is planning its own huge study.

Already, people can start signing up to volunteer for the different studies.

People think this is a race for one winner. Me, I'm cheering every one of them on, said Fauci, who directs NIH's National Institute of Allergy and Infectious Diseases.

We need multiple vaccines. We need vaccines for the world, not only for our own country. Around the world, governments are investing in stockpiles of hundreds of millions of doses of the different candidates, in hopes of speedily starting inoculations if any are proven to work.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
May 10,2020

Washington D.C., May 9: Do the middle age feel much stressful now, and seems to have changed over time, if compared to the life in the 90s? Well, this recent study indicates that it might be true.

The study has signalled to the fact that life may become more stressful majorly for middle-aged people than it was in the 1990s. The researchers reached this analysis even before the novel coronavirus started sweeping the globe.

A team of researchers led by Penn State found that across all ages, there was a slight increase in daily stress in the 2010s compared to the 1990s. But when researchers restricted the sample to people between the ages of 45 and 64, there was a sharp increase in daily stress.

"On average, people reported about 2 percent more stressors in the 2010s compared to people in the past," said David M. Almeida, professor of human development and family studies at Penn State.

"That's around an additional week of stress a year. But what really surprised us is that people at mid-life reported a lot more stressors, about 19 percent more stress in 2010 than in 1990. And that translates to 64 more days of stress a year."

Almeida said the findings were part of a larger project aiming to discover whether health during the middle of Americans' lives has been changing over time.

"Certainly, when you talk to people, they seem to think that daily life is more hectic and less certain these days," Almeida said.

For the study, the researchers collected data from 1,499 adults in 1995 and 782 different adults in 2012.

Almeida said the goal was to study two cohorts of people who were the same age at the time the data was collected but born in different decades. All study participants were interviewed daily for eight consecutive days.

During each daily interview, the researchers asked the participants about their stressful experiences throughout the previous 24 hours.

They asked questions related to arguments with family or friends or feeling overwhelmed at home or work, so and so. The participants were also asked how severe their stress was and whether those stressors were likely to impact other areas of their lives.

"We were able to estimate not only how frequently people experienced stress, but also what those stressors mean to them," Almeida said.

"For example, did this stress affect their finances or their plans for the future. And by having these two cohorts of people, we were able to compare daily stress processes in 1990 with daily stress processes in 2010," Almeida added.

After analyzing the data, the researchers found that participants reported significantly more daily stress and lower well-being in the 2010s compared to the 1990s.

Additionally, participants reported a 27 percent increase in the belief that stress would affect their finances and a 17 percent increase in the belief that stress would affect their future plans.

Almeida said he was surprised not that people were more stressed now than in the 90s, but at the age group that was mainly affected.

"We thought that with economic uncertainty, life might be more stressful for younger adults. But we didn't see that. We saw more stress for people at mid-life," Almeida said.

"And maybe that's because they have children who are facing an uncertain job market while also responsible for their own parents. So it's this generational squeeze that's making stress more prevalent for people at mid-life," he concluded.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
May 5,2020

The lockdown forced by the coronavirus in India has had some unexpected but positive fallouts: It has brought families together and reduced corporate politics, says an expert working in the field for the past decade.

"Today the whole world is on lockdown because of COVID-19, and all that we read, talk and hear is about life and death. We can't deny that the times are tough and the future is uncertain. But I would like to turn the coin and see the other side: the positive side," Shikha Mittal, Founder Director of Be.artsy told IANS in an interview.

Be.artsy is one of India's leading social awareness enterprises which deals with emotions at work and promotes arts as a communication tool for workplaces.

"In the 21st century, personally and professionally, people are practising politics over humanity, competition over collaboration, and have lost touch with themselves due to materialistic desires. During the lockdown, we are forced to confront our existing daily lives, and two interesting things that we can ponder upon, have emerged.

"First, have we ever looked at our family with the same lens as we are using today? What is it that we are doing differently with family today, and what can we do to carry our actions of today into our tomorrow? This is the premise of the #aajjaisakalcontest" that Be.artsy has launched across India.

The aim is "to encourage people to share one habit or life skill that they never practiced earlier, but post Covid-19 would like to continue and enjoy".

How did Be.artsy come about?

"I used to be in the corporate world, earning promotions and greater responsibility. However, the work conditions in those days were unfriendly to women and I had faced many instances of sexual harassment and workplace harassment in the six years of my corporate career. And that's when I had an epiphany."

Be.artsy's most popular programmes are on Prevention of Sexual Harassment (POSH) and on Financial Literacy which makes young people financially independent and better prepared to face the corporate world. "We know that a stitch in time (of planning for the future) saves nine (debt trap, dependence, health emergencies, expenses exceeding income, no savings, families without support, retirement in poverty, lost dreams, extravagance). This can only be achieved by sensitisation," Mittal explained.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.