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

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3 years ago

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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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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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18 hours ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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