BUSINESS NET WORTH
From Scale AI to Meta’s AI boss: Who is Alexandr Wang, the 28-year-old MIT dropout gunning for OpenAI?
Meta has struck a $15 billion deal for a 49% stake in Scale AI, a fast-growing data-labelling startup led by 28-year-old CEO Alexandr Wang. The move puts Wang—once the world’s youngest self-made billionaire—at the helm of Meta’s new superintelligence research unit. Wang’s appointment signals a strategic pivot by Meta to regain its competitive edge in artificial intelligence, as it aims to outpace rivals OpenAI, Google, and Microsoft by blending business acumen with ambitious AI goals.
Nazara Technologies block deal: Rakesh Jhunjhunwala linked entity sells 13 lakh shares worth Rs 159 crore
Rakesh Jhunjhunwala: An entity linked to late investor Rakesh Jhunjhunwala sold 13 lakh shares of Nazara Technologies for ₹159 crore. Despite the block deal, Nazara hit a 52-week high, reflecting investor optimism amid strong annual performance and high growth in gaming revenues.
Lenskart gets pre-IPO bump; Amazon’s q-comm entry
Asset manager Fidelity has marked up Lenskart’s valuation to $6.1 billion as the eyewear retailer gears up an IPO. This and more in today’s ETtech Top 5.
What was the networth of Karisma Kapoor's ex-husband, Sunjay Kapur? Why was his company named 'Sona'
Sunjay Kapur, Chairman of Sona Comstar and former husband of Karisma Kapoor, tragically died in London at 52 due to a cardiac arrest after an allergic reaction. He leaves behind a legacy of business success, expanding his company globally, and a blended family with three children from his marriages to Karisma Kapoor and Priya Sachdev.
Chime, which almost sank in 2016, makes strong Wall Street debut; what changed?
Chime Financial had a strong Nasdaq debut. The stock price increased significantly after the IPO. The company raised $864 million. Founders Ryan King and Chris Britt saw their vision realized. Chime offers online banking services. It earns from interchange fees. In 2024, revenue increased to $1.67 billion. The successful IPO may encourage other fintech companies to list.
The longest-serving legislative leader in US history will be sentenced on corruption charges
Michael Madigan, the former Illinois House Speaker, faces sentencing Friday after being convicted on bribery, conspiracy, and wire fraud charges. Prosecutors seek a 12 1/2-year prison term for Madigan's role in a scheme that exchanged legislative favors for personal gain.
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Younger and several times richer Dua Lipa confirms engagement with Callum Turner; check their age difference, net worth
Dua Lipa has confirmed her engagement with actor Callum Turner. She has been dating the British actor for almost a year and a half. Announcing her engagement with Turner, the singer told British Vogue, "Yeah, we're engaged. "It's very exciting. The duo has not made any announcement pertaining to their wedding date.
John Abraham's monthly rental income from his Mumbai properties could be someone's yearly salary
Bollywood actor John Abraham has leased out three luxury apartments in Bandra West, Mumbai, for a combined monthly rent of Rs 6.30 lakh. The five-year agreement includes annual rent escalations, with the amount reaching Rs 8 lakh per month in the final year. Over the lease period, he is expected to earn nearly Rs 4.3 crore. The properties are located in the upscale Sea Glimpse Co-operative Housing Society, further cementing John’s position as a savvy investor.
Paytm, Mobikwik shares slip; US onsite visas stall
Paytm and Mobikwik stocks slide after MDR rumour sparks selloff. This and more in today’s ETtech Top 5.
Elon Musk’s net worth rises after Trump truce
Elon Musk’s net worth rose by $191 million after he expressed regret over harsh posts about President Trump. The apology, shared on X, followed a private call to Trump. The two had clashed over a Trump-backed bill, with Musk calling it “The Big Ugly Bill” after stepping down from a government role.
Stocks in news: Wipro, HDFC Bank, Nazara Tech, Maruti Suzuki, Bank of Baroda
Amid market volatility, promoter entities exchanged Wipro shares. Vijay Kedia invested in Advait Energy, while Bank of Baroda bid for Jet Airways' office space. HDFC Bank faces scrutiny over loan claims. NTPC raised funds for expansion, and ICICI Bank divested its stake in NIIT-IFBI. Zydus Life received US FDA approval, and NCLT approved Maruti Suzuki's merger.
Selena Gomez stripped of billionaire status? Fans stunned as shocking truth is revealed
Selena Gomez's billionaire status is under scrutiny as a Forbes report indicates her net worth falls short of $1 billion, impacting her financial standing. This reevaluation stems from financial difficulties at Wondermind, the mental health startup she co-founded. Meanwhile, Kylie Jenner reportedly feels vindicated amidst the news, recalling her own billionaire status controversy.
Flexiloans raises another Rs 375 crore from Fundamentum, Accion and others
Flexiloans, an NBFC focusing on small businesses, secured Rs 375 crore in funding, led by existing investors like Fundamentum and Accion. This capital infusion, a mix of primary and secondary, will fuel its expansion into secured lending and insurance distribution. Flexiloans achieved profitability for three consecutive years, with Rs 263 crore revenue and Rs 3 crore profit in FY24.
Prestige Group aims 59% growth in FY26 sales bookings at Rs 27K cr on strong housing demand
Prestige Estates anticipates a significant rise in property sales. The company aims for Rs 27,000 crore this fiscal year. This is a 59% increase from the previous year. Sales bookings declined in the last fiscal year due to launch delays. However, strong pricing power boosted average realization. The company plans to launch multiple housing projects across major cities.
Oswal Pumps sets price band for Rs 1,387 crore IPO
Oswal Pumps has set the price band for its Rs 1,387.34 crore IPO at Rs 584–614 per share. The issue opens on June 13 and includes a fresh issue of Rs 890 crore and a Rs 497.34 crore OFS by promoter Vivek Gupta. Anchor bidding starts June 12, and the allotment is expected by June 18, with listing on June 20.
NZ’s richest pass $100 billion mark in latest rich list, while average Kiwis lose wealth
The NBR Rich List 2025 reveals a wealth surge for New Zealand's richest. Zuru Toys founders top the list with NZ$20 billion. The list now includes 18 billionaires. Despite economic challenges, rich individuals grew wealthier. Average household wealth declined. Newcomers added NZ$4.3 billion to the total. Anna Mowbray and Lucy Liu join the main list.
Motilal Oswal initiates coverage on Time Technoplast with ‘buy’ rating, Rs 578 target price; stock up 9%
Time Technoplast shares: From FY21 to FY25, TIME achieved a CAGR of 16% in revenue, 19% in EBITDA, and 39% in PAT, with its EBITDA margin rising by 150 basis points to 14.4%. Looking ahead, the brokerage forecasts a 15% CAGR in revenue.
Mizuho to acquire Avendus from KKR at $700 million valuation
Mizuho Financial Group is set to acquire KKR-backed Avendus Capital for $700 mn, marking Mizuho's largest investment in India. The deal involves KKR's exit and will give Mizuho up to 70% ownership. Avendus founders, excluding Ranu Vohra, will remain invested and manage the company, continuing its operations across financial services in India, the US, and Singapore.
Only 7% Indian heirs want to join family businesses: HSBC report
A recent report by the HSBC Global Private Banking explores the succession preparedness of family-owned businesses across India and Asia.
Megha deal: Krishna Reddy plans Rs 15,000 crore buyout of uncle PP Reddy’s 51% stake
Megha Engineering's shareholders, the Reddy duo, are finalizing a family settlement where PV Krishna Reddy will acquire Pamireddy Pitchi Reddy's 51% stake for around Rs 12,000-15,000 crore. Krishna Reddy plans to raise funds through asset monetization and financial institutions to complete the deal by March 2027. The infrastructure giant's rise has been marked by both success and controversy.
As Elon Musk's bromance with Trump crumbles, an incident in Mar-a-Lago with Tesla link re-surfaces
A plane was spotted flying in April over President Trump's Mar-a-Lago residence this weekend with the banner 'Save Tesla, Fire Musk'. The incident has re-surfaced at a time when the feud between the two men continues to escalate. It happened when Tesla's shares have reportedly taken a hit during Elon Musk and President Trump's bitter public feud.
Gautam Adani draws Rs 10.41 cr pay in FY25, lags behind peers
Gautam Adani, India’s second richest person, earned ₹10.41 crore in FY25, drawing salary from just two of his nine listed companies—Adani Enterprises and Adani Ports. His pay rose 12% from ₹9.26 crore in FY24 but remained lower than many industry peers and even some top executives within his group.
Who is Bill Ackman, the man who could broker peace between Elon Musk and Donald Trump?
Bill Ackman asked Elon Musk and Donald Trump to stop fighting. Musk agreed with him. This happened after Trump and Musk got into a heated fight on X.
Where is India’s equity wealth sitting? Zerodha holds 1 in 10 rupees of retail & HNI assets
Zerodha now manages nearly 11% of India’s retail and HNI equity holdings, reflecting its massive user trust. Despite strong profits and revenue, CEO Nithin Kamath confirms no IPO plans, citing operational independence and stability amid short-term market slowdown.
Rihanna’s wealth takes a nearly 30% hit in 2025, and it’s not about her music, here’s what went wrong
Rihanna's net worth experienced a $400 million decrease in 2025, a 29% drop from the previous year, primarily due to challenges in her Fenty Beauty and Savage X Fenty ventures. A leadership transition at Savage X Fenty and flat sales for Fenty Beauty, particularly in the challenging Chinese market, contributed to this financial downturn.
MrBeast is worth $1 billion, but he has 'very little money'. World's richest YouTuber says he's having to borrow for his wedding
MrBeast, despite his YouTube empire and near-billionaire status, surprisingly reinvests almost all earnings into content creation, spending millions on videos and giveaways. He prioritizes his business over personal wealth, even borrowing money for his upcoming wedding to Thea Booysen. Jimmy's commitment extends to ensuring the success of creator-led projects, viewing them as crucial for the wider YouTube community.
Why are HNIs in India struggling to save and invest wisely?
A recent survey by Marcellus Investment Managers and Dun & Bradstreet reveals that many Indian HNIs with incomes exceeding ₹20 lakh may struggle to meet financial goals due to insufficient savings and low investment returns.
Lucy Guo dethrones Taylor Swift as the world’s youngest self-made woman billionaire – here’s her wild rise
Lucy Guo, a 30 year-old tech entrepreneur, has become the world’s youngest self-made woman billionaire, overtaking Taylor Swift. From dropping out of college to building a $1.3 billion empire, her journey is packed with hustle, fitness, and a bold lifestyle.
World's biggest YouTuber makes shocking confession: 'Borrowing money from my mom'. Where did MrBeast's earnings go?
YouTube star MrBeast, whose real name is Jimmy Donaldson, has revealed that despite being valued at around $5 billion, he has very little personal money. In a post on X, he admitted to borrowing from his mother to help pay for his wedding, explaining that nearly all his income is reinvested into content and business ventures. Though his companies generate hundreds of millions in revenue, MrBeast confirmed he had less than $1 million in his bank account and recently spent tens of millions on projects like his Amazon Prime show Beast Games.
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