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Gautam Adani Becomes Worldโ€™s 4th Richest Person, Surpasses Bill Gates

Adani

According to Forbesโ€™ Real-Time Billionaires List, Gautam Adani, Indian businessman and owner of Adani Group, has overtaken Microsoft co-founder Bill Gates to become the worldโ€™s fourth richest person. On Thursday, Gautam Adaniโ€™s net worth jumped to $115.5 billion leaving behind Bill Gates whose fortunes are at $104.6 billion.

Mukesh Ambani, another Indian on the list, ranks 10th with $90 billion fortune.

Elon Musk, the founder of SpaceX and Tesla, whoโ€™s been in the midst of controversy over his to buy micro-blogging website Twitter only to abandon it later, is on the 1st rank in the list with $235.8 billion.

When Mr Adani took over Mr Ambani as richest man in Asia, Bloomberg had reported: โ€œSome of Adani Groupโ€™s listed stocks have soared more than 600% in the past two years on bets his push into green energy and infrastructure will pay off as PM Modi looks to revive the $2.9 trillion economy and meet Indiaโ€™s carbon net-zero target by 2070.โ€

โ€œIn barely three years, Adani has gained control of seven airports and almost a quarter of Indiaโ€™s air traffic. His group now owns the countryโ€™s largest airport operator, power generator and city gas retailer in the non-state sector,โ€ Bloomberg added.

In another deal whichโ€™ll add to its fortunes, the Adani group on Thursday said it  has won the tender for the privatisation of a port in Israel in partnership with Gadot.

Among Israelโ€™s three major international seaports, the Port of Haifa is the largest one.

To begin its journey in communications sector, along with Reliance Jio, Bharti Airtel and Vodafone Idea, Adani Data Networks has also applied to participate in the upcoming 5G auction. Scheduled to begin on July 26, the spectrum auction is likely to see intense and aggressive bidding for some frequency bands, as two of the Indiaโ€™s richest businessmen will contest against each other.

It is in the race to acquire spectrum, the Adani group said on Saturday. The group said it will be used to create a private network to support its businesses from airports to power as well as data centres.

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ED Accepts Sonia Gandhiโ€™s Several Requests For Questioning In National Herald Case

Sakeena Sayyed
Enforcement Directorate eases Sonia Gandhiโ€™s questioning by looking at her health conditions.

Mumbai: The Congress President Sonia Gandhi will be questioned by the Enforcement Directorateโ€™s five officers in the National Herald case today, the team will be conducted by Additional Director Monica Sharma.

Sonia Gandhi, who is 75 years old has asked that her daughter and leader of the Congress Party should be allowed to stay with her as she keeps her medicines due to her health issue and she has also requested for a spacious room with good ventilation with the official and staffs interacting with her to be tested for COVID. For the same reason, the ED has permitted Sonia Gandhi to rest if she gets tired during the questioning, reported the sources.

Rahul Gandhiโ€™s questioning took longer for his answers didnโ€™t match, but the ED plans to keep Sonia Gandhiโ€™s questioning short and has divided it into 3 parts. The first part will be for personal details of stock ownership and taxes following the second part in which AJLโ€™s link to Young Indian will be focused upon, and lastly, the third part will be on the links between the Congress party and the companies.

The National Herald Case involves the takeover in which Young Indian Associated Journals Limited (AJL) acquires, the company that runs the โ€˜National Herald newspaperโ€™, that was like a congress voice.
As per ED, the Young Indian company has also acquired Rs.800 crore in assets from AJL. According to the Income Tax Department, this should be considered an asset of the Young Indian shareholders who are Sonia Gandhi and Rahul Gandhi, hence they are suppose to pay taxes.
As per Congress, AJLโ€™s assets went to a Young Indian that is a non-profit organization, and therefore the shareholders could not monetize the assets, as this is illegal under the law. To which the application management claims that Young Indian claims to be a non-profit organization but has not done any charitable work.

Arrangement of security at the ED Office and even near Congress Office as well as Sonia Gandhiโ€™s residence is done for the street protest of Congress leaders.

 

 

 

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