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Gautam Adani earns $21 billion in Q4; More than Musk, Gates, Bezos, And Ambani

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Gautam Adani earned $21 billion in Q4; More than Musk, Gates, Bezos, And Ambani

2022 has been an amazing year so far for India and Asia’s 2nd Richest Person Gautam Adani, the chairman of the Adani group.

According to the Bloomberg Billionaires’ Index, In the last quarter of the financial year 2021-22, he earned more than some of the richest persons on the planet. Adani’s net worth has jumped 27% this year. His net worth jumped $21.1 billion in the 4th quarter to reach a new milestone of 97.6 billion and with this, he’s now the 11th richest person on the planet.

According to statistics, making a new milestone, Adani has overtaken the world’s biggest business magnates like Elon Musk, Jeff Bezos, Bill Gates, Warren Buffett, and Mukesh Ambani.

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As per Bloomberg Billionaires’ Index data, World’s Richest Person Elon Musk’s net worth grew just by $1.1 billion in the Q4FY22. Warren Buffett and Mukes Ambani earned $18.7 billion and $8.24 billion respectively during the same period.


Also Read: Bain Capital Acquires 24.9% Stake In IIFL Wealth For ₹3679.95 Cr; Share Price Jumped 6%


While the net worth of Amazon’s Jeff Bezos and Microsoft’s Bill Gates went down in the 4th quarter. Jeff’s net worth fell by $4.30 billion while Gates lost $4.48 billion.

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Massive Changes on Forbes’ Real-Time Billionaires List

Meanwhile, Forbes’ Real-Time Billionaires List has also seen some massive changes. According to their data, the net worth of Ambani and Adani has crossed $100 billion and Mr. Gautam is now richer than Mr. Mukesh.

As per the list, Adani’s net worth is $102.1 billion, while Ambani’s net worth is $100.4 billion.

In Bloomberg’s list, the Czar of the Indian IT Industry Azim Premji of Wipro is at 36th position with a net worth of $34.4 billion. Shiv Nadar of HCL Technologies is at 46th position with a net worth of $28.9 billion. While Radhakishan Damani of DMart is at 75th position with a net worth of $20.7 billion.

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NIFTY scales new heights, expect Sensex to follow this time around

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NIFTY scales new heights, expect Sensex to follow this time around

Last week, the markets remained volatile but continued their upward trend, with NIFTY hitting a new high each trading session. BSESENSEX is close to surpassing its previous high, while NIFTY is expected to set a new high on Monday or Tuesday.

BSESENSEX closed the week gaining 716.16 points, and NIFTY gained 172 points. The broader markets also saw gains across different indices. While markets saw gains on three sessions, they faced losses on two days. The Indian Rupee also saw a slight gain against the US Dollar.

Vibhor Steel Tubes Limited had a remarkable debut on the bourses, listing at a gain of 178.80 percent and closing at a gain of 192.71 percent. Juniper Hotels Limited’s IPO received a lukewarm response despite being subscribed 2.07 times overall. Exicom Tele-Systems Limited is set to launch its IPO, offering power management solutions and EV chargers.

Bharat Highways Invit is set to launch an issue for fixed income investors, with units to be issued in a band of Rs 98-100. The INVIT will have initial assets from G.R. Infraprojects Limited’s HAM model, offering an attractive income yield. February futures are set to expire on February 29 amid a bullish market trend.

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TN CM lays foundation stone for VinFast's Rs 4,000-cr EV factory

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TN CM lays foundation stone for VinFast's Rs 4,000-cr EV factory

Tamil Nadu Chief Minister M.K. Stalin laid the foundation stone for VinFast group’s EV plant in Tuticorin. VinFast Auto India Ltd will invest Rs 4,000 crore in the first phase out of the planned Rs 16,000 crore investment, making Tamil Nadu the country’s EV Capital.

The plant, spread across 380 acres, will have a capacity to roll out 1,50,000 vehicles per annum. Industries Minister T.R.B. Rajaa mentioned that Tamil Nadu is already a hub for electric vehicle production in India.

Stalin distributed compensation for flood victims and criticized the central government for not providing support. Despite roadblocks, the state government has been successful in achieving its objectives and attracting investments for the state.

Since taking office in 2021, Stalin has prioritized garnering investments for Tamil Nadu. The DMK-led government’s focus on the welfare of the people has been evident in its policies and programs.

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Aadhaar, Jan Dhan giving big push to digital India ecosystem: Instamojo's CEO

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Aadhaar, Jan Dhan giving big push to digital India ecosystem:
Instamojo's CEO

New Delhi, Feb 25 (IANS) As the government accelerates its digital journey, Instamojo’s CEO Sampad Swain highlighted the impact of Aadhaar and Jan Dhan Yojana on India’s digital ecosystem. Swain emphasized on the opportunities created in the last few years, including the JAM Trinity, availability of credit, and the role of social media for small business owners.

Instamojo, a D2C tech company, provides online stores and payment solutions for e-commerce brands and startups. Despite facing a setback last year when RBI returned their license application, Swain remains optimistic and stated that they are preparing to reapply by September, with a focus on data security and compliance with regulations.

In FY2023, Instamojo reported significant profits and steady growth in its customer base, currently serving over 3 million small business owners on its platform. Swain expressed confidence in the company’s continued success, projecting a profitable year in 2024.

The CEO highlighted the importance of adapting to regulatory requirements and maintaining a strong customer base in the competitive digital market. Instamojo’s focus on empowering small businesses with online tools and payment solutions has contributed to its growth and success in the evolving digital landscape.

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