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Elon Musk to Warren Buffett – the top 10 richest people in the world

<ul class="summary-list"><li>Jeff Bezos and Lauren Sánchez aren't the only couple that's stepping it up in the fashion arena.</li><li>Mark Zuckerberg and Priscilla Chan were seen trying out the "mob chic" look at Saturday's UFC event. </li></ul>Step aside <a target="_blank" href="https://www.businessinsider.com/jeff-bezos-life-career-education">Jeff Bezos</a> and <a target="_blank" href="https://www.businessinsider.com/jeff-bezos-fiancee-lauren-sanchez-bio-photos-2023-12">Lauren Sánchez</a>; there's a new it couple in town, and they're coming for the "mob chic" crown.Meta founder <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg">Mark Zuckerberg</a> and his wife, <a target="_blank" href="https://www.businessinsider.com/priscilla-chan">Priscilla Chan,</a> debuted some fashionable fits at Saturday's UFC 300 event."What an epic night," the tech billionaire wrote in a <a target="_blank" href="https://www.facebook.com/zuck/posts/pfbid02foHXYGGmuiZjSHxvthKjWhWn5gAk1jnvFB1uqhCv1GagspYuPvT1KR2xHHA5VYAPl">Facebook post</a> on Sunday.While this isn't the first time Zuckerberg, a known <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-martial-arts-view-world-spotify-founder-jiujitsu-musk-2023-9">martial arts enthusiast</a>, has taken his wife to a UFC event, the couple has had a major fashion glow-up.In October 2022, Zuckerberg and Chan attended a UFC Fight Night event together. At the time, Zuckerberg wore an army-green T-shirt, while Chan wore a floral print dress.<div type="image" title="Priscilla Chan and Mark Zuckerberg at a UFC Fight Night event back in October 1, 2022." height="3312" width="4914" msid="109305111" hostid="261"></div>Now, it seems they have majorly stepped up their ringside fits.Zuckerberg rocked what looked a lot like an <a target="_blank" href="https://www.businessinsider.com/how-much-is-eminem-worth-2018-9">Eminem</a>-inspired outfit on Saturday, donning a simple white t-shirt and black pants. He also wore a chain to complete the look, leaning into some rapper swag straight out of the 2000s.Chan, meanwhile, appeared to be trying her hand at the "<a target="_blank" href="https://www.tiktok.com/discover/Mob-wife">mob wife</a>" aesthetic that's gone viral on social media. Besides donning sunglasses, Chan wore a gold necklace and paired it with a slick all-black outfit.Zuckerberg and Chan may be taking a leaf out of Bezos' and Sánchez's playbook.In January, Bezos and Sánchez were spotted channeling the "mob chic" look when they <a target="_blank" href="https://www.businessinsider.com/jeff-bezos-lauren-sanchez-mob-wife-fashion-week-loud-luxury-2024-1">attended the Dolce &amp; Gabbana Party</a> at the Milan Fashion Week.<div type="image" title="Lauren Sanchez and Jeff Bezos attend a Dolce &amp; Gabbana parry in Milan in January 2024." height="1500" width="2000" msid="109305115" hostid="261"></div>Both glow-ups appear to mark an intentional, choreographed shift in fashion choices by tech billionaires like Zuckerberg and Bezos. Both men have abandoned low-effort, casual dressing in favor of louder luxury, with a lot more bling.And nowhere has that shift been clearer with Zuckerberg. The <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-tan-shredded-jiu-jitsu-photos-2023-5">now-shredded Meta founder</a> has ditched his once-<a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-same-t-shirt-2014-11">standard array of gray t-shirts</a> and hoodies for <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-enjoyed-visit-to-japanese-mcdonalds-during-asia-tour-2024-2">shearling brown jackets</a> and other statement pieces.Zuckerberg has also been down to trade fits with his fellow billionaires.In March, Zuckerberg said he did a "<a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-jensen-huang-meta-nvidia-jersey-swap-2024-3">jersey swap</a>" with Nvidia CEO Jensen Huang. The pair were photographed swapping jackets, with Huang wearing Zuckerberg's brown coat while Zuckerberg wore Huang's <a target="_blank" href="https://www.businessinsider.com/jensen-huang-wardrobe-black-leather-jackets-signature-look-2024-3">iconic black leather jacket</a>.Zuckerberg even had <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-major-timepiece-envy-over-anant-ambani-watch-2024-3">major watch envy</a> when he saw <a target="_blank" href="https://www.businessinsider.com/ambani-heir-married-in-july-following-pre-wedding-bash-2024-3">Anant Ambani's</a> Richard Mille watch during the latter's pre-wedding celebrations in March."You know, I never really wanted to get a watch. But after seeing that, I was like, watches are cool," Zuckerberg said then. Representatives for Zuckerberg at Meta did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Watch out Jeff Bezos and Lauren Sánchez &mdash; Mark Zuckerberg and Priscilla Chan are trying out mob chic, too

<ul><li>The market value of Adani’s listed firms has grown over 5 times in the last one year.</li><li>The group’s listed companies’ market capitalisation has increased from ₹1.64 lakh crore to ₹8.5 lakh crore in this time.</li><li>Four out of the six companies have added more than ₹1 lakh crore to investor wealth, each.</li><li>Here’s a glance at how all the six listed <keyword id="6367820" type="ORGANIZATION" weightage="20" keywordseo="adani-group">Adani Group</keyword> companies have performed over the last one year in the share market.</li></ul>The rise of <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, and his group of companies, has been meteoric over the last few years. The Ahmedabad-based group has leapfrogged from being a medium-sized one to one of the richest family-based businesses in India, leaving behind the likes of the Tatas, Birlas, Wadias among others. Only <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> stands ahead of Gautam Adani in terms of wealth. Ambani’s fortune stands at $77 billion, Adani is not far behind at $69 billion. In fact, since the beginning of 2021, Adani has <a href="https://www.timesnownews.com/business-economy/companies/article/gautam-adani-added-rs-75-crore-to-his-wealth-every-hour-in-2021-may-soon-surpass-mukesh-ambani/760748">added</a> ₹75 crore per hour to his wealth, after <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword> and French luxury Tycoon <keyword id="309765" type="PERSON" weightage="20" keywordseo="Bernard-Arnault">Bernard Arnault</keyword>, who was briefly the <a href="https://www.businessinsider.in/international/news/bernard-arnault-and-family-beat-jeff-bezoz-become-the-richest-in-the-world-as-per-forbes-real-time/articleshow/82904356.cms">richest person in the world</a>. The story behind the rapid rise in Gautam Adani’s wealth and profile is the group’s focus on infrastructure investments. Over the last two years, the Adani group has made acquisitions worth ₹50,000 crore – of those, ₹25,000 crore came in the last year alone. Even as the world – and India – was reeling under the COVID-19 pandemic, Adani group companies across power, ports, gas distribution, power transmission sectors have seen a multi-fold surge in their market capitalisation – some of these have seen an increase of nearly 11 times in share prices. In total, the six Adani Group companies had a market cap of ₹1.64 lakh crore this time, last year. This has now surged to over ₹8.5 lakh crore – an increase of over 420%. Here’s a quick snapshot of how all the six Adani group companies listed on the stock exchanges have performed over the last 12 months: <div type="image" title="BAR CHART Adani Group market cap 26_05_20 - 21_05_21." msid="82968718" hostid="261" caption="&amp;lt;p&amp;gt;Market capitalisation of Adani Group companies.&amp;lt;/p&amp;gt;"></div> An investment of ₹10,000 across the six listed Adani group companies would be worth ₹52,000 now – a return of 420% in just 12 months. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2020 (₹ crore) </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2021 (₹ crore) </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Total Gas </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,604 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,47,292 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1069% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,348 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,44,603 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">842% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Transmission </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,615 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,59,939 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">715% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green Energy </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37,497 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,03,392 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">442% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Power </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14,155 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39,012 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">176% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,448 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,57,041 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">144% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,63,666 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,51,279 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">420% </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/gland-pharma-ipo-from-2020-has-doubled-its-share-price-in-6-months/articleshow/82732413.cms">A super hit IPO from 2020 has finally doubled investors' money</a> <a href="https://www.businessinsider.in/india/news/indias-prime-minister-narendra-modi-gets-a-unique-proposal-via-a-newspaper-advertisement/articleshow/82908689.cms">India's Prime Minister Narendra Modi gets a unique proposal via a newspaper advertisement</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-to-acquire-sb-energy-india/articleshow/82759578.cms">Adani Green Energy to acquire SB Energy India, boosting its renewable energy capacity by 4.9GW</a>

Every ₹10,000 invested in Adani’s listed firms last year is now worth ₹52,000

In the Jeff Bezos vs <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> battle royale for the Indian retail market, which is now also evolving into a 'videshi vs swadeshi' battle, questions are being raised by corporate watchers. Eight absolutely unknown facts are emerging in the <keyword id="10174110" type="UNKNOWN" weightage="20" keywordseo="Bezos-vs-Ambani">Bezos vs Ambani</keyword> battle. 1. Has <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>'s Jeff Bezos disclosed all of the Amazon-<keyword id="23644" type="COMPANY" weightage="20" keywordseo="future">Future</keyword> agreements to Future Retail Ltd (FRL) shareholders? To this, corporate watchers say no. Bezos has invested 49 per cent in Future Coupons Ltd (FCL), a promoter company of FRL. 51 per cent of FCL is held by Kishore Biyani, an Indian resident. FCL, in turn, has 9.82 per cent holding in FRL. It looks as though that FCL is controlled by Biyani with his holding of 51 per cent. This is a requirement under India's FDI Regulations. Bezos cannot hold directly even one share in FRL. On the face of it, he seems to be in compliance with FDI Regulations. But, the reality is different. In a two-tier structure, Bezos has taken control of FRL, which is prohibited under FDI Regulations: (i) Tier 1 is a shareholders' agreement between FRL, FCL and other promoters of FRL – in terms of this agreement, without FCL's consent, FRL cannot transfer its assets or business to any third party and its board cannot even consider such a proposal. (ii) Tier 2 is a shareholders' agreement between FCL, Amazon and other promoters of FRL – in terms of this agreement, Bezos has taken over the rights of FCL under the FRL shareholders' agreement. (iii) Thus, effectively Bezos controls FRL. The Future Retail shareholders agreement and the Future Coupons shareholders agreement have never been disclosed to any Indian regulator. If they are disclosed: (i) SEBI will find that Bezos has taken control of FRL and will mandate him to make an open offer at a price of Rs 500 per share. (ii) ED will find that Bezos has invested in and taken control of a multi-brand retail company without Government approval and hoodwinked the Government of India. 2. Has FRL amended its Articles? Amazon's rights in FCL were carried as part of the amendment to the Articles of FCL. FRL Articles have not been amended. This is because, had the amendment been proposed to the shareholders disclosing that Amazon will exercise the rights of FCL under FRL shareholders' agreement, the public shareholders would have never approved it. 3. Amazon could not have invested in FRL through FDI route under FDI Policy. Then, how does it have enforceable rights against FRL? For this, Amazon has gone through the above mired (and convoluted) structure; FRL is engaged in Multi Brand Retail Trade (MBRT); Foreign Direct Investment (FDI) - up to 51 per cent - in MBRT is allowed only with prior permission of the government, which will also be subject to veracious conditions, including sourcing of materials within India and management control etc.; Amazon wants to control multi brand retail space, but without any of the legal hassles; therefore, in a convoluted manner, it went ahead with the mired illegal structure; if the veil is pierced and the transaction structure is studied in detail, it will be found illegal, corporate watchers said. The fact that Amazon has obtained an interim order from the Emergency Arbitrator injuncting the public company, FRL not to proceed with the scheme, inspite of not having any direct shareholding in FRL, shows that the contractual rights are nothing but "control", in violation of SEBI and FDI Regulations. Bezos is learnt to have followed a similar investment structure while investing in More Retail; where he invested Rs 4,200 crore; For FDI violations, the consequence is, apart from annulment of transactions, Bezos is exposed to penalty of up to three times the investment – ~Rs 5,630 crore x 3 times = Rs 16,890 crore, sources said. For violation of SEBI Takeover Regulations, apart from penalty, they may also be liable to be prosecuted. 4. How as a foreign company Amazon asserted control over FRL and its Board? And on FRL shareholders? The assertion shows that Amazon has violated FDI and SEBI Regulations. If Amazon asserts control, it needs to make an open offer. 5. Amazon is asserting control over FRL. Does it violate FDI policy? Yes. 6. Have all of the agreements been disclosed to regulators – SEBI, ED, etc.? No – details of transaction selectively provided – in an obfuscated manner Enforcement Directorate, SEBI, Ministry of Company Affairs, and other authorities etc, must direct Amazon to disclose the agreements and details of actual arrangements in and commence inquiry. 7. What is the crux of the SIAC'd Interim Order? It records that Amazon's entire investment was for its direct interests in FRL. 8. Is Mukesh Ambani a competitor of Bezos? Bezos cannot carry on multi brand retail in India. He can carry on only market-place e-commerce in India. Yet, his Amazon is referring to Ambani's <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> as its competitor. Reliance can be Amazon's competitor only if the latter is permitted to do MBRT.

Bezos vs Ambani battle: Eight questions regarding Amazon's disclosures of Future deal will be in the spotlight

The arbitration proceedings between Amazon and Kishore Biyani have begun in Singapore. Former Attorney General of Singapore, V.K. Rajah concluded arbitration hearing on Friday, October 16 and will deliver his ruling on or before Monday, October 26, sources said. Rajah, former Attorney General of Singapore, is the sole arbitrator in the Amazon vs. Future vs. Reliance arbitration matter. An emergency hearing of the arbitration took place in Singapore on Friday. Harish Salve appeared for the Future Retail (being acquired by RIL) while Singapore based lawyer, Davinder Singh appeared on behalf of Future Coupons Pvt Ltd. (FCPL) -- the holding company of Kishore Biyani. Gopal Subramanium, former Solicitor General of India, appeared for Amazon. The hearing is said to have lasted for 5 hours. The arbitrator V.K. Rajah said that he would deliver his judgment on or before Monday. That judgement will eventually decide the fate of Reliance's deal with the Future Group. Amazon's investment in FCPL is around Rs 1,500 crore, which is an insignificant amount for <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword> -- the richest man in the world and CEO of Amazon. According to experts, Amazon's legal salvo at Future is indirectly aimed to thwart Reliance's attempt to establish its leadership position in the Indian retail sector. Analysts see this as a war between world's richest man Jeff Bezos, having a networth of $204.6 billion and India's richest man, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> with a (net worth $ 88.4 billion for a control over India's retail sector.

Jeff Bezos and Mukesh Ambani's legal battle - a possible verdict on Monday will decide the fate of Reliance-Future Retail's deal

Elon Musk, Jeff Bezos and Mukesh Ambani are among the top 10 richest people in the world

<ul class="summary-list"><li>The world's richest people lost $250 billion in wealth in the first 6 months of 2022, per Bloomberg.</li><li><keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> and <keyword id="11908741" type="UNKNOWN" weightage="60" keywordseo="jeff-bezos" source="Orion">Jeff Bezos</keyword> have lost a combined $120 billion this year.</li></ul>The world's 10 richest people, including Tesla CEO Elon Musk and Amazon founder Jeff Bezos, have suffered a $250 billion fall in their net worth this year. According to the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires' Index</a>, those on the list have become less wealthy due to the fall on US stock markets in 2022. Holdings in the companies they founded account for a large proportion of their net worth.<a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-sp-500-worst-first-half-1970-2022-6">Stock markets have experienced their worst first half to the year since 1970</a>, with the S&amp;P 500 shedding more than a fifth of its value.It means people like Microsoft co-founder Bill Gates, along with Musk, Bezos, and Bernard Arnault, CEO of Louis Vuitton owner LVMH, have taken big hits to their fortunes. The vast majority of billionaires on the 500-strong index are worth far less than at the beginning of the year.The loss, equivalent to about 1.2% of the US economy, has been felt most acutely by Musk and Bezos, who have shed a combined $120 billion from their wealth since the start of the year. Tesla's share price has slumped by 43% this year, due to economic uncertainty and <a href="https://www.businessinsider.com/elon-musk-twitter-deal-tesla-spacex-distraction-2022-5?r=US&amp;IR=T">Musk's attempt to buy Twitter</a>, while Amazon shares are down more than 35% since the beginning of 2022. However, the two Indians on the list, Gautam Adani and Mukesh Ambani, have enjoyed increases in their net worth of $22.1 billion and $3.05 billion respectively. <a href="https://www.bloomberg.com/billionaires/profiles/gautam-s-adani/">Adani</a> runs ports and India's largest coalmine, benefitting from rising commodity prices this year amid tight supply chains and Russia's invasion of Ukraine.<a href="https://www.bloomberg.com/billionaires/profiles/gautam-s-adani/">Ambani</a>, an industrialist, likewise owns the world's largest oil refinery complex, <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">another commodity that has soared </a>since Russia invaded Ukraine.

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