Exploring the lives of India’s wealthiest individuals: Know about the luxurious lifestyle, net worth of Mukesh Ambani, Gautam Adani, and others

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reuters.com/world/india/billionaire-adanis-family-increases-stake-ambuja-cements-with-997-mln-investment-2024-04-17/

Reuters

Apr 17

Billionaire Adani's family increases stake in Ambuja Cements with $997 mln investment

Quick Glance: Adani Group Invests Rs 8,339 Crore in Ambuja Cements, Raises Stake

The Adani family has infused an additional Rs 8,339 crore into Ambuja Cements, increasing its stake in the company to 70.3% to support the cement maker's manufacturing capacity.

Previously, the Adani family had invested Rs 5,000 crore on October 18, 2022, and Rs 6,661 crore on March 28, 2024. With the latest investment, they have completed the planned Rs 20,000 crore infusion, according to the company's statement.

The latest infusion has raised the Adani family's stake in Ambuja Cement by 3.6% to 70.3%.

The fund infusion will enable Ambuja to accelerate its growth ambitions and nearly double its existing capacity to 140 million tonnes per annum by 2028 from 76.1 million tonnes as of December 31.

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This vibrant city in India claims one of the richest homes in the world: Antilia, the sky-scraping private residence of Indian billionaire Mukesh Ambani ...

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Anant Ambani’s extravagant possessions: From a Rs 640 crore Palm Jumeirah villa to rare watches and luxury cars

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Reliance Q4 Results Highlights: RIL revenue up 11%, net profit at Rs 18,951 crore

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The most expensive private jet belongs to THIS Saudi Arabia’s Prince, not Elon Musk, Jeff Bezos, or Mukesh Ambani

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Akash Ambani catches fan's phone during IPL match, tosses it back after clicking selfie. Watch

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Quick Glance: Billionaires Profiting from AI 2024

The AI gold rush has led to a plethora of new billionaires in the sector, as surging values for both public and private companies with ties to AI have skyrocketed.

Over the past year, tech companies, both new and old, have seen massive share price increases, making the world's tech tycoons even richer and introducing over a dozen new AI billionaires into the Forbes World's Billionaires list.

Nvidia cofounder and CEO Jensen Huang serves as the poster child for this boom. However, other companies like Super Micro Computer, Advanced Micro Devices, and Cloudflare also benefited from the trend. Privately owned AI companies have also gained momentum, with AI-centric startups alone raising nearly $50 billion in funding last year.

Major tech giants like Microsoft, Amazon, and Alphabet have significantly contributed to financing private AI companies to compete in the AI race. However, it remains to be seen if and when the AI bubble will burst and funding could dry up.

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