Five Indian-Americans in Forbes list of US' richest

September 20, 2012

New York, September 20: Five Indian-Americans, including Silicon Valley venture capitalist Vinod Khosla and founder of IT major Syntel, Bharat Desai, have been named among the richest people in the US by Forbes, a list of 400 billionaires topped by Microsoft founder Bill Gates. See images


Gates, 56, whose net worth grew $7 billion from a year earlier to $66 billion in 2012, topped the list for the 19th year in a row.

He is followed by Berkshire Hathaway Inc.'s Buffett (No. 2) with $46 billion, also up $7 billion from last year, and Oracle Corp's Larry Ellison (No. 3) with $41 billion, up $8 billion—and the biggest dollar gainer this year.

Desai with a net worth of $2 billion as of September 2012 has been ranked 239 in Forbes' annual list released yesterday.

Desai, 59, started Syntel in 1980 with his wife while earning his MBA from the University of Michigan. An IIT Mumbai alumnus, Desai stepped down as chief executive of the firm in 2009 but remains chairman.

Founder and chairman of the Symphony Technology Group, Romesh Wadhwani is ranked 250 with a net worth $1.9 billion.

Google board member and shareholder Kavitark Ram Shriram occupies the 298th rank with a net worth of $1.6 billion. Manoj Bhargava, founder and CEO of the popular energy drink '5-hour energy' is ranked 311 and has a $1.5 billion net worth.

He is followed by Khosla on the 328th rank and a $1.4 billion net worth.

The net worth of the richest Americans grew by 13 per cent in the past year to $1.7 trillion, Forbes magazine said in a statement.

A graduate of Carnegie Mellon University and IIT Mumbai, Wadhwani, 65, developed business software firm Aspect Development which he sold in 2000 during the height of the tech bubble for $9.3 billion.

A "notable" newcomer on the list, Bhargava, 59, is a Princeton University drop out who "chose one of the roads less traveled to the American Dream".

Described as a math whiz, Bhargava lived as a monk in the mountains of India for 12 years before returning to the US to forge a successful career in plastics.

Forbes said Stanford and IIT alumnus Khosla, 57, "isn't afraid to fail”. His firm also had a stake in social enterprise software company Yammer, which was purchased by Microsoft in July for $1.2 billion.

A Google board member and large shareholder, Shriram, 55, has stakes in online outsourcer 24/7 Customer and serendipitous website picker StumbleUpon.

He also invested in Inkling, which makes interactive textbooks for the iPad.

He serves as a trustee at Stanford University, where he and his wife endowed the Shriram Family Professorship in Science Education.


Facebook founder Mark Zuckerberg has been pushed down in the rankings to the No. 36 spot with his estimated net worth falling by about $8 billion to $9.4 billion since Facebook went public in May.

bharat_desai

Bharat Desai | Rank: 239 | Net worth: $2 billion

Desai, 59, is the chairman and co-founder of Syntel, which he started in 1980 with his wife while earning his MBA from the University of Michigan. An IIT Mumbai alumnus, Desai stepped down as chief executive of the firm in 2009.

romesh-wadhwani

Romesh Wadhwani | Rank: 250 | Net worth: $1.9 billion

Wadhwani, 65, is the founder and chairman of Symphony Technology Group, a private equity firm that invests in software and software services companies.

kavitark-ram-shriram

Kavitark Ram Shriram | Rank: 298 | Net worth: $1.6 billion

Shriram, 55, is a Google board member and shareholder. He also has stakes in online outsourcer 24/7 Customer and website picker StumbleUpon. He was one of the first people to write a check to Google co-founders Sergey Brin and Larry Page in 1998.

manoj-bhargava

Manoj Bhargava | Rank: 311 | Net worth: $1.5 billion

Bhargava, 59, is the founder and CEO of the popular energy drink brand '5-hour energy'. He is a Princeton University drop out who "chose one of the roads less travelled to the American Dream".

vinod-khosla

Vinod Khosla | Rank: 328 | Net Worth: $1.4 billion

Khosla, 57, is a partner at Khosla Ventures. The Stanford and IIT alumnus "isn't afraid to fail, and has staked a big claim in clean tech—including on some companies he refers to as science experiments".


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Agencies
May 6,2020

Italian researchers have claimed that they have successfully developed a vaccine to contain coronavirus (COVID-19) which is likely to work on humans, a report said.

Luigi Aurisicchio, CEO of Takis, the firm developing the medication, said that a coronavirus candidate vaccine has neutralised the virus in human cells for the first time, the Arab News reported.

"This is the most advanced stage of testing of a candidate vaccine created in Italy. Human tests are expected after this summer," Aurisicchio was quoted as saying to Italian news agency ANSA.

"According to the Spallanzani Hospital, as far as we know we are the first in the world so far to have demonstrated neutralisation of the coronavirus by a vaccine. We expect this to happen in humans too," he added.

The researchers experimented with the vaccine on mice that had successfully developed antibodies that blocked the virus from infecting the cells. They further observed that the five vaccine candidates generated a large number of antibodies, and selected two with the best results.

All of the vaccine candidates currently being developed are based on the genetic material of DNA protein "spike", the molecular tip used by the coronavirus to enter human cells.

They are injected with the so-called "electroporation" technique, which consists of an intramuscular injection followed by a brief electrical impulse, helping the vaccine break into the cells and activating the immune system, the report said.

Researchers believe that this makes their vaccine particularly effective for generating functional antibodies against the "spike" protein, in particular in the lung cells, which are the most vulnerable to coronavirus.

"We are working hard for a vaccine coming from Italian research, with an all-Italian and innovative technology, tested in Italy and made available to everyone," Aurisicchio was quoted by the Arab News report.

"In order to reach this goal, we need the support of national and international institutions and partners who may help us speed up the process," he noted.

The total number of COVID-19 infections, fatalities and recoveries since the pandemic began has risen to 213,013 in the country.

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Agencies
July 21,2020

Washington, Jul 21: Some half-a-dozen influential Republican lawmakers on Monday introduced a legislation in the Senate to allow Americans to sue China in federal court for its role in causing the coronavirus pandemic.

The Civil Justice for Victims of Covid Act gives federal courts authority to hear claims that China has caused or substantially contributed to the Covid-19 pandemic.

Introduced by senators Martha McSally, Marsha Blackburn, Tom Cotton, Josh Hawley, Mike Rounds and Thom Tillis, the bill strips China of its sovereign immunity for reckless actions that caused the pandemic and creates a cause of action. It also authorises federal courts to freeze Chinese assets.

The legislation is closely modelled after the 2016 Justice Against Sponsors of Terrorism Act (JASTA) that gave more legal remedies to victims of terrorism, particularly the 9/11 victims.

“Americans who have been victimised by the lies and deceit of the Chinese Communist Party-to include those who lost loved ones, suffered business losses, or were personally harmed due to Covid-19-deserve the opportunity to hold China accountable and to demand just compensation,” McSally said.

As the death toll and financial losses of Covid-19 mount, China should be forced to pay the costs of these damages to the American people, he said.

Blackburn said that China's Communist Party must face consequences for concealing and now profiting off the Covid-19 pandemic they enabled.

“The costs are devastating: trillions of dollars in economic damage, millions of American jobs lost, and over a half million deaths worldwide – and counting. Business owners and families who have lost loved ones deserve justice,” he said.

By silencing doctors and journalists who tried to warn the world about the coronavirus, the Chinese Communist Party allowed the virus to spread quickly around the globe, Cotton said, adding their decision to cover up the virus led to thousands of needless deaths and untold economic harm.

Rounds said that China must be held accountable for its failure to contain Covid-19 and alleged that the country's delay in sharing the seriousness of the virus with the rest of the world isn't just negligence— it is criminal in nature.

“If China would have been transparent from the start, many more lives would have been saved in all parts of the world. Our legislation provides the tools necessary for American citizens to sue the Chinese Communist Party in federal court for financial losses incurred because of Covid-19,” he said.

Tillis alleged that the Chinese Communist Party lied to the world about Covid-19 and allowed it to become a global pandemic, causing many Americans to tragically lose their loved ones and face immense financial hardship.

“The American people deserve the right to hold the Chinese government accountable for its malicious actions, and I'm proud to join my colleagues in introducing this commonsense bill,” he said.

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June 25,2020

Islamabad, Jun 25: The coronavirus cases in Pakistan crossed the 192,000-mark after 4,044 new Covid-19 infections were detected in the last 24 hours, the health ministry said on Thursday.

According to the Ministry of National Health Services, 148 more people died due to the deadly virus in the country, taking the death toll to 3,903.

With the detection of 4,044 new cases in the last 24 hours, the coronavirus tally in the country now stands at 192,970, it said.

Sindh reported a maximum number of 74,070 infections, followed by 71,191 in Punjab, 23,887 in Khyber-Pakhtunkhwa, 11,710 in Islamabad, 9,817 in Balochistan, 1,365 in Gilgit-Baltistan and 930 in Pakistan-occupied Kashmir.

A total of 81,307 patients have recovered so far from the disease.

Health authorities have so far conducted 1,171,976 coronavirus tests, including 21,835 in the last 24 hours.

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