Mukesh Ambai richest Indian; Jeff Bezos tops global rich list

Agencies
March 7, 2018

New York, Mar 7: Mukesh Ambani's net worth has soared to $40.1 billion, making him the richest Indian for the 11th year in a row, while Amazon founder Jeff Bezos toppled Bill Gates as the world's wealthiest person, says Forbes.

According to Forbes' 2018 'World's Billionaires' list, Reliance Industries Chairman Mukesh Ambani's wealth surged a whopping 72.84% to $40.1 billion (Rs 2,60,622 crore) - highest among the 119 Indian billionaires on the list.

Ambani was ranked 19th globally, up from 33rd position in 2017.

"Mukesh Ambani chairs and runs $51 billion (revenues) oil and gas giant Reliance Industries, among India's most valuable companies," Forbes said.

Bezos, referred to as the "Centi-billionaire", topped the list with a net worth of $112 billion, becoming the only person to appear in the Forbes list with a 12-figure fortune.

"Shares of his e-commerce giant Amazon rose 59% in 12 months, helping boost his fortune by $39.2 billion. It was the biggest one year gain since Forbes started tracking billionaires in 1987," it said.

The Amazon founder moved ahead of Bill Gates, who is now the second richest person globally with a fortune of $90 billion.

According to Forbes, India is home to 119 billionaires, 18 more than last year.

This year's list consists of 2,043 of the richest people in the world.

The combined net worth of this elite group is a whopping $9.1 trillion, up 18% since last year. Their average net worth is a record $4.1 billion.

Azim Premji is the second richest Indian and was ranked 58th on the overall list with a net worth of $18.8 billion, followed by Lakshmi Mittal (62nd position, net worth of $18.5 billion), Shiv Nadar (98th, $14.6 billion) and Dilip Shanghvi (115th, $12.8 billion).

The 10 richest Indians include Kumar Birla, ranked 127th overall with a fortune of $11.8 billion, Uday Kotak (143, $ 10.7 billion), Radhakishan Damani (151, $10 billion), Gautam Adani (154, $ 9.7 billion) and Cyrus Poonawalla (170, $9.1 billion).

Acharya Balkrishna, the co-founder of FMCG company Patanjali Ayurved, was ranked 274th on the list with a net worth of $6.3 billion.

"Acharya Balkrishna derives his fortune from fast-growing consumer goods giant Patanjali Ayurved. Balkrishna owns 98.6% of the privately-held company, which he cofounded with politically well-connected yoga guru Baba Ramdev," Forbes said.

Meanwhile, Anil Ambani, the younger sibling of Mukesh Ambani was ranked 887th on the list with a net worth of $2.7 billion.

Indian jeweller Nirav Modi is among the drop-offs from the list, along with Papa John's Pizza founder John Schnatter, Christoffel Wiese of South Africa, and Saudi Arabia's Prince Alwaleed Bin Talal Al Saud.

Donald Trump, who became the first billionaire president in US history in January 2017, was ranked 766th on the list, down from 544, with a fortune of $3.1 billion.

Trump's fortune fell $400 million since March 2017.

There were 259 newcomers, including the first ever cryptocurrency billionaires, while 121 dropped out due to falling fortunes or political headwinds, including 10 Saudi Arabians.

Forbes further noted that the gap between the really rich and the merely rich continues to widen, as fortunes soar to new heights so much so that the 20 richest people on the planet are worth a staggering $1.2 trillion, a sum roughly equivalent to the annual economic output of Mexico.

"In aggregate, they may represent less than 1% of total billionaires but their riches amount to 13% of the total fortune of all billionaires worldwide," Forbes said.

The Forbes Worlds Billionaires list is a snapshot of wealth using stock prices and exchange rates from February 9, 2018.

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JP
 - 
Wednesday, 7 Mar 2018

ACHE DIN ....ATLEAST FOR AMBANI/ADANI

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News Network
March 11,2020

New Delhi, Mar 11: Congress leader Rahul Gandhi on Wednesday accused Prime Minister Narendra Modi of “destabilising” the elected Congress government in Madhya Pradesh.

Gandhi also said the PM may have “missed” noticing the 35 per cent crash in global oil prices and asked him to pass on the benefit to Indians by slashing petrol prices.

“Hey @PMOIndia, while you were busy destabilising an elected Congress Govt, you may have missed noticing the 35 per cent crash in global oil prices.

“Could you please pass on the benefit to Indians by slashing #petrol prices to under 60 per litre? Will help boost the stalled economy,” the former Congress chief said on twitter.

Congress' prominent youth leader Jyotiraditya Scindia quit the party on Tuesday and appeared set to join the BJP amid a rebellion in Madhya Pradesh by his supporters, pushing the 15-month-old Kamal Nath government to the brink of collapse.

On Tuesday morning, as much of India was celebrating Holi, Scindia met senior BJP leader and Union Home Minister Amit Shah, following which he called on Prime Minister Narendra Modi at his 7, Lok Kalyan Marg residence.

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News Network
February 11,2020

New Delhi, Feb 11: The government has decided to rename National Institute of Financial Management (NIFM), Faridabad, as Arun Jaitley National Institute of Financial Management, an official statement said on Tuesday.

Set up in 1993 as a registered society under the Department of Expenditure, NIFM trains officers of Finance and Accounts Services recruited by the Union Public Service Commission (UPSC) as also officers of Indian Cost Accounts Service. The Union Finance Minister is the President of the NIFM Society.

"Aligning the vision and aspiration of the Institute for the future with the vision and contribution of late Arun Jaitley, the Government has decided to rename National Institute of Financial Management (NIFM) as the Arun Jaitley National Institute of Financial Management(AJNIFM)," the statement said.

NIFM has become a premier resource centre to meet the training needs of the central government for senior and middle level of management in the fields of public policy, financial management, public procurement and other governance issues for promoting highest standards of professional competence and practice.

Padma Vibhushan awardee Jaitley was the Union Minister for Finance and Corporate Affairs during May 26, 2014 to May 30, 2019.

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News Network
January 8,2020

Meerut, Jan 8: Hangman Pawan Jallad, who officials say is being considered to carry out the execution of the four Nirbhaya gangrape case convicts, on Tuesday said he is ready for the job which will send out a strong message in the society.

He said executing those who were involved in the horrific crime will bring "great relief" to him, Nirbhaya's parents and everybody else.

Earlier in the day, a Delhi court issued death warrants against all the four convicts in the Nirbhaya gangrape-murder case and ordered that they are hanged on January 22 at 7 am in Tihar jail.

The death warrant, also known as a black warrant, addressed to the office of the Tihar jail chief, was issued by Additional Sessions Judge Satish Kumar Arora against Mukesh (32), Pawan Gupta (25), Vinay Sharma (26) and Akshay Kumar Singh (31).

"I do not have any information regarding the execution, nobody has spoken to me yet. If anyone approaches me, I am ready to do the job. Earlier, I was asked to be ready for the execution on December 16," Pawan Jallad told reporters here.

"Those who were involved in this brutal incident must be hanged, which will send out a strong message in the society," he said.

"Hanging the Nirbhaya gangrape case convicts will certainly bring great relief to me, her parents and everybody else," he added.

Nirbhaya, a 23-year-old paramedic student, was gang-raped and brutalised on the intervening night of December 16-17, 2012, inside a moving bus in south Delhi by the four men, along with two others, before being dumped on the road.

She died on December 29, 2012, at Mount Elizabeth Hospital in Singapore.

Of the six persons convicted, one allegedly committed suicide in jail and another, a juvenile, was released from a reformation home after serving a three-year term.

When contacted, Jail Superintendent of Meerut prison V P Pandey said he has not yet received any letter from Tihar authorities.

"Last month, we had received a letter asking us to keep Pawan Jallad ready but there is no fresh communication. The Delhi court warrants were issued this evening, maybe we will get the letter for sending him by tomorrow (Wednesday)," he said.

The gangrape of 23-year-old, who came to be known as 'Nirbhaya', the fearless one, sparked outrage across the country. Repulsed, people took to the streets across the country, demanding justice for her and better safety measures for women.

The case led to toughening of India's rape laws.

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