2 6 BILLION BILLIONAIRE
India’s outward FDI falls 14% to $4.34 billion in September as loans, guarantees decline
Outward foreign direct investment from India reached $4.34 billion in September, which is a 14% increase from last year. However, this figure reflects a 37% decrease from the previous month. Equity commitments decreased by 20% compared to August, totaling $3.26 billion. Loans to overseas subsidiaries rose slightly, reaching $549 million in September. Several companies, including Sun Pharma, led the equity outflows with significant investments.
Meta eyes record $95 billion equity raise to fund AI expansion
The Facebook parent has launched public offerings worth about $35 billion in common and preferred stock, and said it also plans to launch a separate at-the-market share sale program worth up to $60 billion.
Meet Phil Knight, Nike co-founder who sold shoes from his car trunk in 1964, 61 years later, he and his wife pledged $2 billion to a cancer institute
Phil Knight was a runner at the University of Oregon and later studied at Stanford Graduate School of Business. While studying there, he looked for the possibility of selling affordable and high-quality Japanese running shoes in the US. At that time, German shoes were very prominent. Knight then sold shoes directly to runners.
Jio’s record India IPO falls short of record payday for bankers
Jio Platforms raised about $3.1 billion through its record IPO, but intense competition among investment banks kept fees relatively low at around 0.65% of the issue size.
Oil, US Treasuries prop up Indian bonds
Indian government bonds increased in early trading as oil prices declined, following a previous rally. The Brent crude price slipped significantly after hitting a six-month high last week, which impacted the debt market. Foreign investors have sold a substantial amount of Indian government debt since August, contributing to a prolonged rise in benchmark yields. Concerns over inflation and the Reserve Bank of India's rate decisions are influencing market sentiments.
From Carnegie to Claude: AI wealth could reshape philanthropy
A wave of American wealth created by artificial intelligence companies could produce some of the largest charitable sums since the era of Andrew Carnegie and John D. Rockefeller, raising questions about where the money goes. Nan Ransohoff of payments firm Stripe has described the moment as a "third wave" of American philanthropy, after the industrial fortunes of the late 19th century and the internet billionaires of recent decades.
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Warren Buffett’s 6 golden rules for investors after retirement
Warren Buffett’s retirement advice focuses on low-cost index investing, paying off high-interest debt, maintaining cash reserves, staying within one’s circle of competence and living frugally. His long-standing principles offer lessons on building wealth, managing risk and making sound financial decisions.
Dallas began building a $110 million park over a freeway in 2009; 3 years later, Klyde Warren Park became a major attraction
Klyde Warren Park is a five-acre public park in downtown Dallas, Texas. It was built over the recessed Woodall Rodgers Freeway, between Pearl and St. Paul streets. The aim was to create green space above a busy road and reconnect parts of the city centre. The park serves as a recreational, social and cultural space for residents and visitors.
Apple Mac mini M6 review: A compact powerhouse for video editing, AI agents and everyday productivity
Apple’s Mac mini M6 packs powerful performance into a compact desktop, but is it the right choice for creators and professionals? From 4K video editing and multitasking to experimenting with local AI models and tools such as ChatGPT and dots, the machine offers plenty of possibilities. However, its starting configuration comes with limitations that buyers should consider before investing.
She has $2.6 billion but still works 14 hours a day: Why the world’s youngest self-made woman billionaire can't slow down
Luana Lopes Lara, the 30-year-old co-founder and COO of Kalshi, has an estimated net worth of $2.6 billion and is the world's youngest self-made female billionaire. Despite her wealth, she continues to work 12 to 14 hours a day and rarely takes time off. In an interview with Fortune, Lara said her lifestyle has changed little because she has always been focused on building Kalshi. The prediction market company's valuation has surged amid growing investor interest, even as its sports-related contracts face legal challenges in the United States.
The top three most valued NBA teams are worth $38 billion combined: Here’s a look at how other teams rank and how much they earn
The valuations of NBA teams have risen dramatically, with an average value exceeding $6 billion. The Golden State Warriors lead with a valuation of $13.5 billion after a 23% increase. Following them are the New York Knicks and the Los Angeles Lakers, valued at $12.6 billion and $12.5 billion respectively. Other teams are also experiencing valuation growth, including the Los Angeles Clippers and Boston Celtics.
Indians remit $2.7 billion overseas in August, led by travel
Outward remittances under the Liberalised Remittance Scheme (LRS) stood at $2.7 billion, with travel accounting for the largest chunk. Indians spent $1.6 billion on travel in August, from $1.7 billion in July, while $275 million were spent on maintenan-ce of relatives. Indian citizen spent $321 million on investments in equity and debt, while $191 million on studies abroad.
Explained: Why is Meta creating a new class of non-voting shares amid its AI growth?
Meta plans to create a new class of publicly traded non-voting stock, known as Class C shares, and distribute one Class C share for each existing Class A and Class B share - effectively splitting its stock two-for-one. The new shares are expected to begin trading in January 2027.
Infosys ADRs crash 6% after Q2 results as revenue guidance cut spooks investors
Infosys ADRs fell 6.3% after the company lowered FY27 revenue growth guidance to 1-2%, despite September-quarter revenue beating estimates. Profit missed expectations, while large deal wins and AI revenue growth offered support amid cautious technology spending.
Mark Zuckerberg, worth $240 billion, threatens to leave California over 5% billionaire tax as Meta creates new Class C shares to keep him in state
Mark Zuckerberg has threatened to leave California if the state introduces a proposed 5% billionaire wealth tax. In response, Meta has approved a new class of nonvoting Class C shares that would allow the Facebook co-founder to raise money to pay a potential tax bill without losing control of the company. The new stock arrangement also comes with an eight-year commitment from Zuckerberg to remain a California resident.
Who is funding the 2026 US midterms? Top 15 donors pour over $1.5 billion into the elections
US midterm elections 2026: The 2026 US midterm elections are projected to be the most expensive in history, driven by significant donations. Major contributors include Elon Musk and various Republican and Democratic nonprofit organizations. Contributions have focused on supporting candidates, super PACs, and interest groups related to technology and cryptocurrency. Concerns have arisen over the rise of 'dark money' organizations that do not disclose donor identities.
Elon Musk’s $445 million bet on Republicans as US midterms test Trump's grip
Elon Musk has contributed more than $445 million to the US election cycle, backing Republicans ahead of the November midterms. His America PAC is spending heavily on competitive Senate and House races as the party seeks to retain control of Congress, while Musk’s business interests and political influence remain under scrutiny.
Mark Zuckerberg makes deal with Meta to help him pay billionaire tax if it passes
Mark Zuckerberg has made a deal to manage potential tax liabilities from a proposed wealth tax in California. The tax would impose a one-time 5 percent charge on billionaires' net worth. Zuckerberg's agreement allows him to maintain ownership of Meta while selling non-voting shares to finance his tax obligations. Proponents argue the tax ensures the rich contribute fairly to state revenues.
India's a call-out market, but there's room to grow: Nestle
Nestle SA reports that 37% of urban households in India purchase Maggi noodles monthly. The instant noodles segment is outpacing overall food sector growth in the country. Nestle is investing in its Maggi and KitKat brands as they capture consumer preferences for convenience and diversity. Despite a revenue increase, food inflation remains a significant concern for the company. Regulatory scrutiny on Nestle India's labeling practices has also emerged recently.
Neocloud short sellers rack up $6 billion as AI debt fears deepen
Short sellers betting against US neocloud and data centre companies have made about $6 billion in paper profits this month as AI debt fears trigger a sharp selloff. CoreWeave, Nebius, IREN, Applied Digital and Core Scientific face heavy short interest, highlighting growing concerns over debt-fuelled AI infrastructure spending.
Adani Ports expands presence by incorporating subsidiary in Oman
Adani Ports and Special Economic Zone Limited has established a wholly owned subsidiary named Indian Ocean Gateway Terminal in Oman. This new entity aims to conduct offshore operations locally, aligning with the company's strategic expansion as a global transport operator. Adani International Ports Holdings Pte. Ltd. holds 100 percent of the subsidiary's shares. The incorporation involves a total share capital of OMR 500,000 with 100 shares of OMR 5,000 each.
US economy could reportedly lose $1 billion in a single day as 1.5 million people plan ‘sick leaves’ for GTA 6 launch: When was this seen before?
With the Grand Theft Auto VI launch just around the corner on November 19, excitement is palpable among gamers. Economic analysts anticipate a noticeable dip in workplace productivity, with numerous employees likely to take sick days to immerse themselves in the game. Historical game releases have demonstrated comparable trends, indicating that Rockstar Games is poised for a lucrative opening day.
Meta strikes deal to keep Mark Zuckerberg in California after wealth tax concerns
By Carlos Me- Meta Platforms has struck a deal with Mark Zuckerberg to keep him living in California after the CEO warned he was considering leaving the state that houses the
Trump thanks 'legendary friend' Elon Musk for plan to donate SpaceX shares to American children
Billionaire Elon Musk announced plans to donate SpaceX shares to every child in America. The initiative is part of the Trump Accounts program, which aims to provide financial foundations for children. More than 4.5 billion USD has already been contributed to these accounts since their launch. Families and private-sector donors can contribute directly to these children's accounts. This program mainly benefits middle-class households with children under 18 years old.
Elon Musk pledges one SpaceX share for every American child; it could cost him just 1% of his fortune
Elon Musk has unveiled an ambitious plan to grant one SpaceX share to every American child next year, aiming to empower future generations through investment opportunities. With more than 72 million minors in the U.S., questions arise regarding who qualifies for this potential windfall, valued at over $10.5 billion based on current prices. Final specifics from Musk's team remain pending, igniting curiosity across the nation.
AI chip startup Tenstorrent more than doubles its valuation to $6.2 billion in funding round
Based in Santa Clara, Tenstorrent has just secured an impressive $1.5 billion in its latest funding round, propelling the AI chip startup's valuation to $6.2 billion, a leap since late 2024. This investment will significantly bolster the production of their Galaxy servers, which are crucial across various applications. Among the diverse investors backing this initiative are renowned firms like ARK Invest and T.
GTA 6 is bringing back a fan-favorite gameplay feature after 18 years: Here is what you should know about it
GTA 6 is bringing back the intense six-star wanted level system, enhancing police behavior and interactions in the game. Players will need to navigate a world where law enforcement remembers their past crimes and gathers evidence against them. With exciting new protagonists and gameplay mechanics for disguises, players can now impact their wanted level based on their actions and appearances.
Hobby Lobby founder David Green turned a $600 loan into a billion-dollar retail empire, then gave away ownership
David Green started Hobby Lobby with a $600 loan in 1970 and built it into a nationwide arts-and-crafts retailer. But his decision to transfer the company’s ownership to a charitable trust changed how Forbes assessed his family’s fortune, once estimated at $13.7 billion in 2023.
India’s family offices bet on homegrown AI firms to gain ground
India’s tech landscape is witnessing an influx of investments from family offices and wealthy individuals. Key players like Premji Invest and Claypond Capital are funding promising AI startups. With at least six companies achieving unicorn status, the environment for AI is becoming increasingly supportive. This shift highlights the need for sustained investment in India’s AI ecosystem. The growth potential is significant, despite challenges in funding and competition.
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