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New York CNN —Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday. Authorities said Adani and seven other senior business executives, including his nephew Sagar Adani, promised more than $250 million in bribes to Indian government officials to secure solar energy contracts. Worth more than $85 billion, Adani is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index. The solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period. The defendants frequently met and discussed the bribery scheme, including evidence on several phones.
Persons: Gautam Adani, Adani, Sagar Adani, , Lisa Miller, Worth, Mukesh Ambani, Cyril Cabanes, Adani Green, Jeff Bezos –, Hindenburg, Narendra Modi, CNN’s Diksha Madhok Organizations: New, New York CNN, US Department of Justice, Authorities, Adani Group, Indian, DOJ, Securities and Exchange Commission, Adani Green Energy Ltd, Power, SEC, Hindenburg, Bloomberg, Adani Enterprises, CNN Locations: New York
Reliance Industries' boss Ambani hasn't updated his IPO timelines after saying in 2019 that Reliance Jio and Reliance Retail would "move towards" a listing within five years. The two sources said Reliance has now firmed up plans to launch the Reliance Jio IPO in 2025 as it internally believes it has achieved a stable business and revenue stream in becoming India's No. But the retail business IPO is not expected until after 2025 as the company first needs to address some internal business and operational challenges, said the first source. Reliance Jio is set to lock horns with Elon Musk if he launches his Starlink internet service in India, and Jio, which is also backed by Google and Meta, has partnered with Nvidia to develop AI infrastructure. Reliance, however, aims for the 2025 Jio IPO to be India's biggest ever, overtaking Hyundai India's record $3.3 billion IPO this year, said the first source.
Persons: Mukesh D, Ambani, Ajay, Mukesh Ambani, Ambani hasn't, Elon Musk, Jefferies Organizations: Reliance Industries Ltd, Reuters, Reliance Industries, Reliance, KKR, General, Abu Dhabi Investment Authority, Google, Nvidia, Hyundai Locations: New Delhi, India, Mumbai, General Atlantic, Abu Dhabi
Jared Kushner and Ivanka Trump were advisors to Donald Trump when he was in office. Her husband, Jared Kushner, says they're "rooting for" Trump but will not return to politics if he wins. Kushner told The Times that if Trump is elected, he does not expect "a major shift in terms of what we prioritize." I do not plan to be involved in politics," Ivanka told Fox News Digital after she skipped Trump's 2024 campaign launch. I think you have to either be all in or all out," Ivanka told the podcaster Lex Fridman in an episode that aired in July.
Persons: Jared Kushner, Ivanka Trump, Donald Trump, Ivanka, Trump, , Kushner, Ambani, Arabella Rose Kushner, Carbone, Lex Fridman, it's Organizations: Service, The New York Times, The Times, Times, Fox News Digital, Business Insider, Republican National Convention, Miami Grand Prix, Affinity Partners Locations: Washington, India, Saudi Arabia
Amid the flurry of partnerships announced on the occasion was a deal between Reliance and Nvidia to build AI infrastructure in India. Nvidia on Thursday announced a slew of partnerships with major Indian firms and launched a Hindi language model, as the American chip company looks to ramp up business in one of the world's biggest technology markets. Nvidia also announced Nemotron-4-Mini-Hindi 4B — a small language model in Hindi, the widest-spoken of India's multitude of languages. Companies running Nvidia hardware can deploy this language model, while Indian IT consultancy Tech Mahindra is using Nvidia's model to launch its own Hindi AI model, Project Indus 2.0. "India is very, very dear to the world's computer industry, central to the IT industry," Huang said.
Persons: Huang, Jensen Huang, Akshay Kumar, Mukesh Ambani, Narendra Modi, Modi, Neil Shah, Shah Organizations: Reliance, Nvidia, Yotta, Tata Communications, Reliance Industries, Companies, Indian, Tech Mahindra, Infosys, Wipro, TCS, Reliance Jio, Ambani's Reliance Industries, Counterpoint Research, CNBC Locations: India, Mumbai, American
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia CEO partners with India to supply chips to tech companiesNvidia CEO Jensen Huang, in a fireside chat with Reliance Industries Chairman Mukesh Ambani, discussed why India is poised to build an AI empire. He highlighted the country's potential to export AI innovations rather than Indian workers being displaced by the technology.
Persons: Jensen Huang, Mukesh Ambani Organizations: Reliance Locations: India
Having just lost a battle with Elon Musk over how India's satellite spectrum is awarded, Asia's richest man Mukesh Ambani could face a bigger challenge if Musk's Starlink launches services in India and the two go head-to-head on price. India's government said on Tuesday it will allocate spectrum for satellite broadband administratively and not via auction, hours after Musk criticized the auction route being sought by rival billionaire Ambani as "unprecedented." The Indian government says its decision to allocate spectrum administratively to whoever applies for it is in line with global trends. It has not set a timeframe for when the process will start but Musk's Starlink has already applied for necessary permits. Starlink's entry into the Indian market would create a new battleground between the two billionaires: pricing.
Persons: Mukesh Ambani, Ratan Tata, Elon Musk, Musk's, Musk, Ambani, Musk's Starlink Organizations: Reliance Industries, National Centre, Performing Arts, Elon, SpaceX, Reliance Locations: Mumbai, India
Speaking to CNBC's Inside India, Kohli noted that India's wealthy now come from a swathe of industries. India's stock market became the fourth-largest in the world at the start of the year, after overtaking Hong Kong. Meanwhile, those whose wealth that falls between 10 to 50 million Indian rupees are in the affluent category, he added. Historically, India's wealthy had a median age exceeding 50. Drivers of India's wealthThe growth in India's wealthy population comes in tandem with the nation's economic progress.
Persons: Ratan Tata, Waterfield, Ratan Tata —, Ambani, Himanshu Kohli, Kohli, Pramod Gubbi, Marcellus, Lee, Gubbi, Knight Frank, What's, Malcolm Dorson, Dorson Organizations: Tata Group, Fortune India, Tata Sons, Tata Steel, Tata Consultancy Services, Tata Motors, Titan Company, Marcellus Investment, Lee Kuan Yew, of Public, National University of Singapore, Bombay Stock Exchange, Global, Volvo, Apollo Locations: India, Tata, CNBC's, Hong Kong, Pune, Hyderabad, Ahmedabad, Chennai, U.S
Ratan Tata, a former chairman of Indian conglomerate Tata Sons, died at a Mumbai hospital on Wednesday night. Tata Sons chairman N Chandrasekaran confirmed Tata's death and described him in a statement as his "friend, mentor, and guide." Prime Minister Narendra Modi described Tata as a visionary leader, and a compassionate and an extraordinary human being. Google CEO Sundar Pichai, said Ratan Tata left behind an extraordinary business and philanthropic legacy and he was instrumental in mentoring and developing modern business leadership in India. "My last meeting with Ratan Tata at Google , we talked about the progress of Waymo and his vision was inspiring to hear," Pichai said on X.
Persons: Ratan Tata, N Chandrasekaran, Tata, Narendra Modi, Modi, Harsh Goenka, Sundar Pichai, Pichai, Mukesh Ambani, Ratan Tata's, Anand Mahindra, Padma Bhushan Organizations: Tata Sons, Tata, Google, Reliance Industries, India Inc, Tata Group, Mahindra Group, Padma, Jaguar, Rover, Ford Locations: Mumbai, boardrooms, India
Tributes from industry leaders, politicians and the public at large poured in for Ratan Tata, the former chairman of India's Tata Sons, who passed away on Wednesday, aged 86. Google and Alphabet CEO Sundar Pichai recalled his meeting with Tata where they discussed Google's self-driving car project. "Mr Tata took India to the world and brought the best of the world to Bharat." He was known for his philanthropy and was chairman of Tata Trusts, among India's largest charity organizations. Tata reportedly was instrumental in about 60 acquisitions that helped the group expand globally.
Persons: Ratan Tata, India's Tata, Narendra Modi, Sundar Pichai, Pichai, Tata, Ratan Tata's, Mukesh Ambani, Mr Tata Organizations: India's, Tata, Rover, Tata Group, Reliance Group, Bharat, Cornell University, Tata Trusts, Tata Sons Locations: India, Mumbai
Family office employees, in turn, can be paid on par with, or even better than, banking, private equity, and other top finance jobs. AdvertisementBillionaires like Ray Dalio, the founder of Bridgewater Associates, and Google co-founder Sergey Brin have established family offices in the city-state. Family office staff need to learn on the fly — even about racehorses. Managing multiple family membersIn family offices, technical brilliance alone isn't enough to secure a role. Westall shared a story of a family office executive who started as a cleaner while he was in film school.
Persons: , Ray Dalio, Sergey Brin, Mukesh Ambani, Jack, Paul Westall, Goldman Sachs, Westall, Jimmy Soh, Soh, Pierre Pineau, that's, Pineau, Mike Campbell, there's, who's Organizations: Service, Bridgewater Associates, Google, Business, Agreus, Goldman, AP, Ivy League, Mandoga Locations: Singapore, Hong Kong, Asia, Europe
Lelian Chew is the founder of The Atelier & Co, a Singapore-based luxury wedding planning company. She has handled luxury weddings with extravagant destinations and million-dollar gowns. AdvertisementThis as-told-to essay is based on a conversation with Lelian Chew, a luxury wedding planner in Asia. I launched my events planning business, The Atelier & Co, in 2013, planning luxury events and weddings for some of the biggest families in Asia. AdvertisementIn recent years, I've noticed a shift in Asian weddings whereby younger generations emphasize upholding traditions in their weddings.
Persons: Chew, , Lelian Chew, they've, it's, I've, We've, It's Organizations: Service, Entertainment Locations: Singapore, Asia, Maldives, Yunnan, China, Como, France
Read previewHere's the latest sign of Mark Zuckerberg's style evolution — a luxury watch depicting the Milky Way. Mark Zuckerberg spotted yesterday during the @AcquiredFM live wearing a DB25 Starry Varius in rose gold from De Bethune. 👀 pic.twitter.com/raZRTyzmAz — ZwapX (@zwapxofficial) September 11, 2024This is not the first premium watch Zuckerberg has been spotted wearing. "His recent style evolution, shown by a love for premium watches and subtle luxury, suggests a shift." To be sure, Zuckerberg's style evolution might have less to do with aesthetics and more to do with an intentional strategy to cultivate a relatable and attractive personal image.
Persons: , Mark, De Bethune, Bryan Li, Mark Zuckerberg, De, 👀, ove Organizations: Service, De Bethune DB, Business, Swiss Locations: De Bethune, ife
Reliance and Walt Disney have offered to sell some channels to win faster antitrust approval for their $8.5 billion India media assets merger, but are resisting changes to cricket broadcast rights they own, two sources familiar with the matter said. Antitrust experts have warned that the Reliance-Disney merger, announced in February, could face intense scrutiny as it will create India's biggest entertainment player which will compete with Sony , Zee Entertainment , Netflix and Amazon with a combined 120 TV channels and two streaming services. The sources said some of the concessions being offered relate to regional Indian language channels where the two companies may have a dominant market share. Zee and Sony planned to create a $10 billion TV behemoth in India and in 2022 offered concessions by selling three TV channels. That helped them win CCI approval, but the merger eventually collapsed.
Persons: Walt Disney, Mukesh Ambani's Organizations: Walt, Antitrust, Disney, Sony, Zee Entertainment, Netflix, Competition Commission of India, Reliance, Zee Locations: India
Yet it’s no longer enough for the security-conscious billionaire to stick an impenetrable safe room in the basement where it might sit empty forever. Courtesy SAFEThe house itself, Corbi said in an interview via Zoom, is ultra-secure with the blast-proof doors, unbreakable windows and biometric door-entry systems. Even 50 years ago, he says traditional bunkers looked like high-end hotels — “kind of like the Ritz Carlton, underground”. For hundreds of thousands, prefabricated modular steel bunkers can be dropped into the ground under a new-build house. The days when you can throw a first aid kit in a prefab bunker and say you’re safe are long gone.”
Persons: “ We’ve, , Al Corbi, ” Corbi, Mukesh Ambani, Anant, Corbi, Mark Zuckerberg, Bill Gates, Noemi Cassanelli, CNN Graham Harris, Harris, they’re, Covid, Naomi Organizations: CNN, SAFE, Ritz, Carlton, Ritz Carlton, Creative Home Engineering Locations: Virginia, Mumbai, Hawaii, London, Highgate, Arizona —
Mark Zuckerberg is in his fashion designer era
  + stars: | 2024-08-04 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +5 min
Read previewAfter finally ditching his daily navy tees to show off more of his personal style, Mark Zuckerberg is taking his fashion journey a step further. Since then, Mark has made his own gold chain meme (using Meta AI, of course.) In April Zuckerberg said he was working with a jewelry designer to create the perfect gold necklace dedicated to his daughters. Meta CEO Mark Zuckerberg predicted that smart glasses, enabled with AI technology, will become commonplace. AdvertisementAnd with such a positive response to his new "drip," it won't be surprising if Zuckerberg keeps pushing into the fashion industry.
Persons: , Mark Zuckerberg, he's, Zuckerberg, Adam Mosseri, Ban, Cooper Neill, Mark, hasn't, Augustus, Carlos Barria, Ray Organizations: Service, Business, Ray, Getty, Meta, Google, REUTERS Locations: Instagram, libertatem
Unlike the main wedding festivities over the weekend, this event was "just for close family and friends," she said. AdvertisementMukesh Ambani, the Chairman of Reliance Industries, Isha Piramal, Anand Piramal, Nita Ambani, Anant Ambani, Rihanna, Radhika Merchant, Shloka Mehta Ambani and Akash Ambani stand on the stage. Decorations around the Ambani family's residence in Mumbai, India, ahead of the wedding of Anant Ambani on July 12. Priyanka Chopra Jonas and Nick Jonas attend the Ambani wedding on Friday. Kim Kardashian and Khloe Kardashian were among a number of high-profile guests at the Ambani wedding in Mumbai.
Persons: , Anant Ambani, Radhika Merchant's, Merchant's, I'm, Nita Mukesh Ambani, Mukesh Ambani, Isha Piramal, Anand Piramal, Nita Ambani, Rihanna, Radhika Merchant, Shloka Mehta Ambani, Akash Ambani, Justin Bieber, You'll, They're, Ambani, Bhushan Koyande, Celebrities, Preston Bailey, Anant, Priyanka Chopra Jonas, Nick Jonas, Francis Mascarenhas, everyone's, Kim Kardashian, Khloe Kardashian, Kardashian, Narendra Modi, Luis Fonsi, John Cena, PUNIT PARANJPE, didn't, Law Roach Organizations: Service, Business, sangeet, Reliance Industries, Reuters, Staff, Hindustan Times, Getty Images Merchant, Vogue, Hollywood, Food, India's Locations: Mumbai, India, Bombay
Read previewAnant Ambani — the son of Asia's richest man, Mukesh Ambani — married Radhika Merchant over the weekend. of the wedding, as I like to say," Merchant told Vogue in an exclusive interview. Nita Ambani oversaw the planning of the wedding festivities alongside her daughter, Isha Ambani, and her daughter-in-law, Shloka Ambani, Merchant said. A multi-day Indian celebrity wedding can require around 500 staff, wedding planners previously told Business Insider. The wedding festivities sparked some controversy over the weekend due to disruptions caused by traffic diversions and road closures.
Persons: , Anant Ambani, Mukesh Ambani —, Radhika Merchant, Nita Ambani, Merchant, Isha Ambani, Shloka Ambani, Mark Zuckerberg, Bill Gates, Anant, She's, Mama, Ambani's, Justin Bieber, Rihanna, Bharat Jagasia Organizations: Service, Vogue, Business Locations: Mumbai, Delhi
The wedding was followed by a blessing ceremony on Saturday, where Prime Minister Narendra Modi bestowed the young couple and their families with well wishes. No expense was spared by the family that owns India’s largest private corporation, Reliance Industries. Kim and Khloé Kardashian are seen leaving their hotel on their way to a wedding event on Saturday. Anant Ambani and Radhika Merchant at their wedding ceremony on Friday. An event as huge in scale as the Ambani-Merchant celebration would emit far more carbon than even the largest and most lavish Indian wedding, he added.
Persons: CNN —, Anant Ambani, Radhika Merchant, Kim, Khloé Kardashian, Narendra Modi, Mangal Utsav ”, Anant’s, Mukesh, The Ambani, Abu Jani Sandeep Khosla, Ambani, Sabyasachi Mukherjee, Merchant, Jayasri Burman, Rhea Kapoor, Anamika Khanna, Shah Rukh Khan, Savita Chhibber, Gauri Khan, Suhana Khan, Prodip Guha, Preston Bailey, Serena Williams, LeBron James, Bailey, Ambani’s, , Akash, Isha, Manish Malhotra, India ”, Justin Bieber, , Shamita Yadav, Sushant Singh, Adar Poonawalla, Natasha Poonawalla, Punit Paranjpe, Ashwin Malwade, Mark Zuckerberg, Ivanka Trump, Bill Gates, Karlie, Rihanna Organizations: CNN, British, Reliance Industries, Forbes, Convention, Gabbana’s, , Centre for Policy Research, Mr, Chhatrapati Shivaji International Locations: Mumbai, Varanasi, India, Indian, Jamnagar, AFP, Chhatrapati
Ambani is the youngest son of billionaire Mukesh Ambani, chairman of Indian conglomerate Reliance Industries. This was followed by a luxury cruise across the Mediterranean and yet more celebrations in July ahead of the big day. But a beautiful wedding doesn't need to be expensive and there are ways to put on a spectacular show with a much smaller budget, according to Manwani and Suglani. Couple Vanessa Acosta and Sam Roberts went even further, hosting their wedding in their own backyard on a budget of $3,000. So, then you're going to get the best suppliers, you're going to get the venue that you want at a reasonable price without paying the premiums."
Persons: Anant Ambani, Mukesh Ambani, Radhika Merchant, Ashish Vaishnav, Ambani, Mark Zuckerberg, Shah Rukh Khan, Karishma, Priya Suglani, Suglani, you've, Manwani, they're, Vanessa Acosta, Sam Roberts, Acosta, nobody's Organizations: Getty, Reliance Industries, CNBC, Suppliers Locations: MUMBAI, MAHARASHTRA, INDIA, Mumbai, Jamnagar, Indian, Gujarat, London
Indian Prime Minister Narendra Modi seemed to divert some attention from the lavish Ambani wedding in Mumbai. Posters bearing the PM's face lined the route to the ceremony for Anant Ambani and Radhika Merchant's wedding. Anant Ambani is the son of Mukesh Ambani, Asia's richest man. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIndian Prime Minister Narendra Modi has seemingly stolen some of the attention away from the lavish Ambani wedding in Mumbai this weekend.
Persons: Narendra Modi, Anant Ambani, Radhika Merchant's, Mukesh Ambani, , Kim Kardashian, Mike Tyson, John Cena — Organizations: Indian, Service, Business Locations: Mumbai
On Friday afternoon, Sneh Zala, 24, waited for celebrities to arrive on the red carpet for the wedding of Anant Ambani, the youngest son of India’s richest man, and Radhika Merchant, a daughter of a fellow business tycoon. The red carpet was set up in a room adorned with lanterns and red and orange garlands and floral arrangements. It’s not every day that Kim and Khloé Kardashian, John Cena and Boris Johnson gather in Mumbai for an Indian wedding. Mr. Zala was one of about 100 media members clamoring next to the red carpet, not a common addition at most weddings. But given the sheer amount of celebrities present, including Bollywood superstars, several members of the Indian cricket team, former prime ministers and billionaire businessmen, and the fabulous Indian clothes on display, a runway seemed in order.
Persons: Sneh, Anant Ambani, Radhika Merchant, Manav Manglani, It’s, Kim, Khloé Kardashian, John Cena, Boris Johnson, Zala, clamoring Organizations: Indian cricket Locations: Sneh Zala, Zala, Mumbai
"Now, when it comes to a high-net-worth wedding or a celebrity wedding, everything becomes 10 times or hundred times" of that cost, Aggarwal said. AdvertisementPlanners' cost estimates of the Ambani wedding varied widely, from tens of millions of dollars to hundreds of millions of dollars. For a big celebrity wedding, planners divide their staff into teams and hire hundreds of additional people leading up to and on the day of the ceremony. Setting a blueprint for other weddingsThe Ambani wedding is already influencing how other Indians are envisioning and planning their own nuptials. The festivities are slated to kick off Friday at the Jio World Convention Centre, which is owned by the Ambani family.
Persons: , Radhika Merchant, Anant Ambani, Ambani, Nishita Aggarwal, Nishita, Rihanna, Justin Bieber, Katy Perry, Pitbull, Purvi Modgil, Aggarwal, Isha Ambani, Anant Ambani's, Modgil, Darshan Shroff, We've, Abu Jani Sandeep Khosla, Tarun Tahiliani, Abu Jani, Sandeep Khosla, Ashish Vaishnav, Bharat Jagasia Organizations: Service, Business, Planning, Boys, Reliance, Forbes, butlers, Planners, Convention Locations: Mumbai, India, Getty, Delhi
Radhika Merchant and Anant Ambani's wedding begins on Friday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA four-day cruise, a performance by Rihanna, and a mass wedding for 50 couples were all just the lead-up to the glitziest wedding of the year. Radhika Merchant and Anant Ambani , the youngest son of Asia's richest man , are getting married in Mumbai on Friday, with events following on Saturday and Sunday. This story is available exclusively to Business Insider subscribers.
Persons: Radhika Merchant, Anant Ambani's, Priyanka Chopra, Nick Jonas, Kim Kardashian, , Rihanna, Anant Ambani Organizations: Service, Business Locations: Mumbai
Anant Ambani fiancée Radhika Merchant pose for a photo on the red carpet during their sangeet ceremony at Jio World Centre in Mumbai. All eyes are on this weekend's mega wedding in India, where the youngest son of Asia's wealthiest man prepares to tie the knot with his long-time sweetheart after months of lavish pre-wedding celebrations. Indian tycoon Mukesh Ambani — the country's richest man and the billionaire chairman of Indian conglomerate Reliance Industries — is throwing a three-day wedding bash for his son that kicks off on Friday. The groom is his 29-year-old son Anant Ambani and 29-year-old Radhika Merchant, the daughter of Viren Merchant, owner of Encore Healthcare. The Ambani family has stayed mum about the star-studded guest list, but multiple media reports have said 16-time Grammy award winner Adele could be one of the main performers.
Persons: Anant Ambani, Radhika Merchant, Mukesh Ambani, Viren Merchant, Ambani, Adele, Drake, Mike Tyson, Kim Kardashian, Ram Nath Kovind, Boris Johnson, Tony Blair, Mark Tucker, Jay Lee, Morgan Stanley's Michael Grimes, Gianni Infantino Organizations: Reliance Industries, Encore Healthcare, Wall Street, CNBC, Business, HSBC Holdings, Samsung Electronics Co, FIFA Locations: Mumbai, India, Hollywood, Bandra
Asia's richest man is hosting a lavish wedding in Mumbai for his youngest son this weekend. Mumbai is already plagued by traffic and faces added congestion from the three-day wedding affair. AdvertisementAsia's richest man is throwing a massive wedding for his youngest son in Mumbai this weekend. Anant Ambani, son of Mukesh Ambani, is set to wed Radhika Merchant in a lavish affair. This story is available exclusively to Business Insider subscribers.
Persons: , Anant Ambani, Mukesh Ambani, Radhika Merchant, It's, Sonam Srivastava, Srivastava, Bill Gates, Mark Zuckerberg, Ivanka Trump Organizations: Service, Business, Mumbai Traffic Police, Wright Research, Convention, Immigration Locations: Mumbai, Bandra Kurla, Bandra, Jamnagar
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