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Coal magnate Gautam Adani surpasses Mukesh Ambani as Asia’s richest person

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Coal magnate Gautam Adani surpasses Mukesh Ambani as Asia’s richest person

Indian billionaire Gautam Adani, who turned a small commodities trading business into a conglomerate spanning ports, mines and green energy, is now Asia’s richest man.

The 59-year-old tycoon’s net worth reached $88.5 billion on Monday, surpassing compatriot Mukesh Ambani’s $87.9 billion, according to the Bloomberg Billionaires Index. Adani’s personal wealth rose by nearly $12 billion, making him the world’s biggest gainer this year.

The coal giant – whose controversial Australian mine project has come under fire from climate activists including Greta Thunberg – is increasingly looking beyond fossil fuels to expand. He is moving into renewable energy, airports, data centres and defence contracting – priorities that Prime Minister Narendra Modi also sees as critical to nation building and achieving the country’s long-term economic goals.

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Deepak Jasani, head of retail research at Mumbai-based brokerage HDFC Securities Ltd., said: “Adani Group discovered and entered all the industries that were going on at the right time, which attracted a select batch of foreign investment. Portfolio investors.” These industries are capital-intensive, and companies have little difficulty raising capital to expand. “
Some of Adani Group’s listed shares have surged more than 600% in the past two years as he bets his push for green energy and infrastructure will pay off as Modi looks to revive the $2.9 trillion economy and get it ready by 2070. Achieving India’s net-zero carbon target by 2020. MSCI Inc.’s decision to include more Adani companies in its India benchmark index also means any fund tracking the index will have to buy the shares.

While 2020 was the year of Ambani — his oil and petrochemical conglomerate Reliance Industries Ltd. made a billion-dollar fortune by bringing in Facebook and Google Inc. as tech hubs for investors — the pendulum has since turned in Adani’s favor.

Two Indian billionaires — both of whom built their empires on fossil fuels or coal — are now pushing ahead with green energy projects. Ambani has pledged to spend $10 billion over the next three years as part of a $76 billion renewable energy spending plan. Adani has pledged to invest $70 billion by 2030 to help his group become the world’s largest renewable energy producer.

Companies including Total SE and Warburg Pincus LLC have invested in Adani’s company in 2021. However, the French oil major agreed in January 2021 to buy a 20% stake in Adani Green Energy Ltd. and a 50% stake in an Indian partner’s operating solar portfolio. Great discount. The deal was valued at just $2.5 billion, when Adanigreen was valued at $20 billion.

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In March 2021, Warburg said it would invest $110 million in exchange for a roughly 0.5 percent stake in Adani Ports and Special Economic Zone Ltd.

Complete News Source : Business Standard

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$92.8 million

Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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