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After two years, the Davos Forum is back, but with less billionaires and no snow

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3 years ago

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After two years, the Davos Forum is back, but with less billionaires and no snow

Ask some of the world’s wealthiest and most powerful people in Davos this week, and they’ll tell you that the World Economic Forum’s annual meeting won’t be the same after a two-year hiatus due to a pandemic.

Hundreds of names are missing from the guest list, including many financial titans. Goldman Sachs Group Inc. and JPMorgan Chase & Co. CEOs will not be attending. Larry Fink of BlackRock Inc. and Steve Schwarzman, the private-equity billionaire, aren’t.

The usual contingent of super-rich Russian tycoons, including several who attended in 2020 and many of their Chinese counterparts, is also missing.

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Even the weather and timing are off: instead of the usual snow and crisp January air, the May Davos is expected to be rainy. (Instead of crampons, the WEF included umbrellas in the delegates’ welcome package.)

A bleak backdrop for the five-day event is the lingering pandemic, rampant inflation, tumbling stock markets, and the war in Ukraine. The theme for this year is “History at a Turning Point,” which has an ominous ring to it.

Wendy Craft, chief of staff at Fulcrum Equities, a New York-based family office, said, “I just don’t think the excitement is there.” “The markets, the war, and the virus aren’t helping.”

The event is still expected to draw 2,000 people, not including the hundreds of others who come but do not attend official events. Jane Fraser of Citigroup Inc. and Brian Moynihan of Bank of America Corp. will be in attendance.

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So will the Bloomberg Billionaires Index’s estimated 90 billionaires. Bill Gates and George Soros, hedge fund mogul Ray Dalio, and India’s Gautam Adani, whose personal fortune has skyrocketed this year, making him the world’s sixth-richest person, are among them.

In January 2020, when the coronavirus outbreak began, at least 119 billionaires descended on the town. That included Jamie Dimon, who is staying in New York this time for a major JPMorgan investor day. Goldman Sachs is sending a few of its top executives, but not its CEO, David Solomon.

While around 50 heads of state and government are expected to attend, German Chancellor Olaf Scholz is the only member of the Group of Seven.

While President Donald Trump took centre stage in 2020, Commerce Secretary Gina Raimondo will lead the US delegation this year. Xie Zhenhua, China’s special envoy for climate change, is the highest-ranking Chinese official.

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On Monday, the man of the moment, Ukrainian President Volodymyr Zelenskiy, will speak from war-torn Kiev.

Guests can climb the 33 stone steps to the Steigenberger Grandhotel Belvedere for closed-door confabs after attending a series of panels. In the evenings, there will be fewer parties to choose from. For example, JPMorgan will not be holding its annual event in a local art gallery.

Many of those attending this year are looking forward to a return to normalcy: meetings, handshakes, and sipping a Monsteiner at the Piano Bar, the local beer made at Europe’s highest-altitude brewery.

Tim Gokey, CEO of Broadridge Financial Solutions Inc. in Lake Success, New York, said, “I am looking forward to seeing people in person.”

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David Spreng, the founder of venture debt lender Runway Growth Capital, said he decided to skip the conference this year and instead attend offsite events, some of which he helped organise.

“I discovered that I can achieve my new objectives without a white badge,” Spreng explained.

The weather may be the most significant difference of all.

Davos isn’t Davos without the snow, as one Wall Street executive recently joked to a colleague.

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US vice president JD Vance, wife Usha and kids visit Jaipur’s iconic Amber Fort | Pics

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2 weeks ago

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April 24, 2025

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US vice president JD Vance, wife Usha and kids visit Jaipur’s iconic Amber Fort | Pics

US Vice President JD Vance, his wife Usha Vance, and their children visited the historical Amer Fort in Jaipur on April 22, 2025. The Vance family received a warm welcome at the Fort, where they were greeted with a traditional Rajasthani dance performance and elegantly decorated elephants. Second Lady Usha Vance, the wife of US vice president JD Vance, carries her daughter Mirabel as they watch a cultural performance at the Amber Fort in Jaipur.

Rajasthan CM Bhajanlal Sharma welcomed the Vance family as they visited the historic Amer Fort in Jaipur. The Vance family will depart for the US early Thursday morning. In related news, JD Vance and wife Usha attended Good Friday service at St. Peter’s Basilica in Vatican City. Vance also visited the Taj Mahal in Agra on April 23, 2025. Vance said that “good progress.

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In other news, Pope Francis’ funeral is set to start on Wednesday, and the J&K tourist hub has been completely shut today. On 4/20, celebrations across the US highlight cannabis culture and calls for legalization had been made towards a trade deal with India after meeting with “tough negotiator” Prime Minister Narendra Modi in New Delhi. The Vance family visited.

On April 22, 2025, US Vice President JD Vance, accompanied by his wife Usha Vance, and their three children, visited Jaipur’s historic Amber Fort. The family received a warm welcome, highlighted by traditional Rajasthani folk performances and a red carpet reception. As they entered the fort’s main courtyard, Jaleb Chowk, they were greeted by two elegantly decorated elephants named Chanda and Mala, raising their trunks in greeting. ​

During their visit, the Vances were joined by Rajasthan Chief Minister Bhajanlal Sharma and Deputy Chief Minister Diya Kumari, who guided them through the fort’s rich history and architectural marvels. The family also enjoyed cultural performances featuring traditional dances such as Kacchi Ghodi, Ghoomar, and Kalbeliya, offering a glimpse into the vibrant.

Usha Vance, dressed in a chic white shirt and patterned skirt, explored the fort alongside her family and dignitaries, embracing the cultural experience culture of Rajasthan This visit was part of Vice President Vance’s four-day official trip to India, aimed at strengthening bilateral relations between the United States and India. The Vance family departed for Washington.

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Bhajanlal Sharma welcomed the Vance family as they visited the historic Amer from Jaipur on April 24, concluding their cultural tour of India Upon their arrival at Amber Fort, the Vance family was greeted with traditional Rajasthani hospitality. Two elegantly decorated elephants, Chanda and Pushpa, adorned with silver ornaments, were stationed at the entrance welcome.

The family was also treated to a cultural performance featuring folk artists dressed in traditional Rajputi and Kalbelia attire, accompanied by musicians playing regional instruments. The vibrant rangolis and the overall festive atmosphere highlighted the rich cultural tapestry of Rajasthan The fort’s impressive courtyards and majestic structures.

Exploring the Fort’s Historical Significance

During their tour of Amber Fort, the Vance family explored various architectural marvels, including the Sheesh Mahal (Mirror Palace), known for its intricate mirror work and stunning design. They were accompanied by Rajasthan Chief Minister Bhajanlal Sharma and Deputy Chief Minister Diya Kumari, who provided insights into the fort’s history and significance.​

Engaging with Local Culture

Throughout their visit, Vice President Vance demonstrated a keen interest in engaging with The Vance family’s visit to Amber Fort was part local culture. He interacted with the folk artists and expressed appreciation for the traditional performances, reflecting a genuine curiosity and respect for India’s diverse cultural heritage.​

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