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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News Network
January 31,2020

Wuhan, Jan 31: The World Health Organization declared a global emergency over the new coronavirus, as China reported Friday the death toll had climbed to 213 with nearly 10,000 infections.

The UN health agency based in Geneva had initially downplayed the threat posed by the disease, but revised its risk assessment after crisis talks.

suspended or reduced service to China include British Airways, German flag carrier Lufthansa, American Airlines, KLM and United.

Chinese efforts to halt the virus have included the suspension of classes nationwide and an extension of the Lunar New Year holiday.

All football matches across the country also will be postponed, the Chinese Football Association said on Thursday, including games in the top-tier Chinese Super League.

World stock markets tumbled again Thursday on fears that trouble in the "world's factory" would upset global supply chains and dent profits.

Toyota, IKEA, Starbucks, Tesla, McDonald's and tech giant Foxconn were among the corporate giants temporarily freezing production or closing large numbers of outlets in China.

Volkswagen announced Thursday its China joint-venture plants would not start production again before February 9.

US Federal Reserve Chairman Jerome Powell said the coronavirus posed a fresh risk to the world economy.

Throughout China, signs of paranoia multiplied, with residents of some Beijing residential compounds erecting makeshift barriers to their premises.

In one of many similar photos posted online, a man wearing a surgical mask and brandishing a traditional martial arts weapon squatted on a barricade outside a Chinese village, near a sign saying: "Outsiders forbidden from entering".

The crisis has caused food prices to spike, and the central government on Thursday blamed this partly on overzealous preventive measures, issuing a directive banning any roadblocks or other hindrances to food shipments.

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Agencies
April 28,2020

United Nations, Apr 28: UN chief Antonio Guterres has warned that extremist groups are taking advantage of the COVID-19 lockdowns and intensifying efforts on social media to recruit youths online by exploiting their anger and despair, asserting that the world cannot afford a lost generation due to the unprecedented global health crisis.

The UN Secretary-General made the remarks on Monday during a video conference to review the five years since its adoption of a landmark resolution on youth, peace and security.

We can already see such groups taking advantage of the COVID-19 lockdowns, intensifying their efforts on social media to spread hatred and to recruit young people who may be spending more time at home and online, he said.

Guterres told the Security Council that even before the current crisis, young people were facing enormous challenges.

Listing startling numbers, he said one of every five young people was already not in education, training or employment and one of every four is affected by violence or conflict. Every year, 12 million girls become mothers while they themselves are still children.

These frustrations and, frankly, failures to address them by those in power today, fuel declining confidence in political establishments and institutions. And when such a cycle takes hold, it is all too easy for extremist groups to exploit the anger and despair, and the risk of radicalisation climbs, he said.

Issuing a call to action on youth, peace and security, Guterres said the world cannot afford a lost generation of youth, their lives set back by COVID-19 and their voices stifled by a lack of participation. Let us do far more to tap their talents as we tackle the pandemic and chart a recovery that leads to a more peaceful, sustainable and equitable future for all.

With over 1.54 billion children and youth out-of-school and young people acutely feeling the impact of the COVID-19 crisis, Guterres said countries must do more to harness the talents of young people to address the crisis and its aftermath.

In presenting his first report on the Security Council resolution, the UN chief said youth were already confronting numerous challenges even before the pandemic, including in accessing education, or through being affected by violence and conflict. Those pressing for peace or upholding human rights have been threatened.

Despite these obstacles, young people across the world have joined the common fight against the coronavirus disease, supporting both frontline workers and people in need. And they continue to push for change.

UN Youth Envoy Jayathma Wickramanayake spoke of the need for more meaningful partnerships between young people and the civil society organisations and government institutions that work on the youth, peace and security (YPS) agenda.

To date, there are no national action plans on YPS but I'm pleased to note that in some countries, these are in the process of development, she said.

For a national roadmap to be successful, a participatory, transparent and youth-led process with adequate resources are needed, she said.

Issuing his four-point call to action for the Council, Guterres urged members to do more to address the various challenges facing young people.

He also called for investment in youth participation, but also in their organisations and initiatives.

We must strengthen human rights protections and protect the civic space on which youth participation depends, he said. And fourth, we must emerge from the COVID-19 crisis with a determination to recover better - massively increasing our investment in young people's capacities as we deliver the Sustainable Development Goals.

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News Network
February 3,2020

Beijing, Feb 3: The first batch of patients arrived on Monday at a specialised hospital built in just 10 days as part of China's intensive efforts to fight a new virus.

Huoshenshan Hospital and a second facility with 1,500 beds that's due to open this week were built by construction crews who are working around the clock in Wuhan, the city in central China where the outbreak was first detected in December.

The Wuhan treatment centres mark the second time Chinese leaders have responded to a new disease by building specialised hospitals almost overnight. As severe acute respiratory syndrome, or SARS, spread in 2003, a facility in Beijing for patients with that viral disease was constructed in a week.

The first batch of patients arrived at the Huoshenshan Hospital at 10 am on Monday, according to state media. The reports gave no details of the patients' identities or conditions.

The ruling Communist Party's military wing, the People's Liberation Army, sent 1,400 doctors, nurses and other personnel to staff the Wuhan hospital, the official Xinhua News Agency said. The government said earlier some have experience fighting SARS and other outbreaks.

Authorities have cut most road, rail and air access to Wuhan and surrounding cities, isolating some 50 million people, in efforts to contain the viral outbreak that has sickened more than 17,000 and killed more than 360 people.

The Huoshenshan Hospital was built by a 7,000-member crew of carpenters, plumbers, electricians and other specialists, according to the Xinhua News Agency.               Photos in state media showed workers in winter clothing, safety helmets and the surgical-style masks worn by millions of Chinese in an attempt to avoid contracting the virus.

About half of the two-storey, 600,000-square-foot building is isolation wards, according to the government newspaper Yangtze Daily. It has 30 intensive care units.

Doctors can talk with outside experts over a video system that links them to Beijing's PLA General Hospital, according to the Yangtze Daily. It said the system was installed in less than 12 hours by a 20-member "commando team" from Wuhan Telecom Ltd.

The building has specialised ventilation systems and double-sided cabinets that connect patient rooms to hallways and allow hospital staff to deliver supplies without entering the rooms.

The hospital received a donation of "medical robots" from a Chinese company for use in delivering medicines and carrying test samples, according to the Shanghai newspaper The Paper.

In other cities, the government has designated hospitals to handle cases of the new virus.

In Beijing, the Xiaotangshan Hospital built in 2003 for SARS is being renovated by construction workers. The government has yet to say whether it might be used for patients with the new disease.

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