Who is Larry Fink? 'Richer' than Mukesh Ambani, Adani, Bezos, Musk, Bill Gates, Zuckerberg, can buy half of US, his net worth is Rs..., he is...
Elon Musk, Jeff Bezos, and Bill Gates are some of the names that dominate the list of billionaires in the world. But did you know there is an American who is richer than these businessmen, including the world's richest, Musk? Larry Fink is the CEO of BlackRock, the largest asset management company in the world. The company is responsible for overseeing assets worth USD 7.4 trillion. BlackRock's market capitalisation surged to Rs 12.808 trillion as of December 2024. It is the 102nd most valuable company on the globe by market cap. Let's know more about Larry Fink.
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NDTV
18 minutes ago
- NDTV
Nitin Gadkari's Mega Mobility Plan: Hyperloop, Electric Buses, Ropeways On Fast Track
Ranchi: Union Minister Nitin Gadkari has unveiled an ambitious roadmap for next-generation mass mobility in the country, which includes electric rapid transport, hyperloop in urban areas and ropeways, cable buses and funicular railways in inaccessible terrains. In an interview with PTI, the Union Minister of Road Transport and Highways said India's transport sector is undergoing a major transition, with initiatives like tree bank, mobile-based driving tests, and flex-fuel engines by 11 leading automakers in the pipeline. Also on the agenda are plans to upgrade 25,000 km of two-lane highways to four lanes, establish an electric mass rapid transport network across major routes and scale up road construction to 100 km per day. 'We are driving innovation. A revolution in mass mobility is underway,' Mr Gadkari said. 'Work is progressing at a war footing to transform how India travels, with a focus not just on metropolises but also on remote, inaccessible rural areas. We're building ropeways, cable cars and funicular railways across 360 locations, including Kedarnath. Work has already started on 60 of these projects,' he said. Funicular railways are a system that combines elevator and railway technologies to efficiently transport people and goods up and down inclines. These are particularly useful in mountainous or hilly areas. Mr Gadkari said the cost of these projects ranges from Rs 200 crore to Rs 5,000 crore and once completed, they will change the face of India. The minister added that improved road infrastructure will not only boost the economy but will also help in propelling growth and creating jobs. 'I am more than confident that in a year's time, our highways will match the standard and quality of US roads that I have been emphasising,' he said, adding that days are not far off when metropolises will have cable-run buses, electric rapid mass transport buses with aeroplane-like facilities. Mr Gadkari said pilot projects like Metrino pod taxis, hyperloop systems, and pillar-based mass rapid transport are in the pipeline for cities like Delhi and Bengaluru. 'Technology and investors are both coming in. It will be a revolution,' he said. The minister said, 'Eleven companies, including Tata, Toyota, Hyundai and Mahindra, have agreed to build flex-fuel engine vehicles that will reduce dependence on fuel imports as well as fossil fuel." Flex-fuel vehicles are equipped with internal combustion engines that can operate on more than one fuel. They are primarily meant to run on ethanol and methanol or a blend of biofuels and on conventional fuels such as petrol or diesel. Mr Gadkari said India is working on 25,000 km of road upgrades for converting two-lane roads into four-lanes and 'we plan to build 100 km of roads per day – this is our target, not a declaration,' he clarified. The length of national highways was 91,287 km in 2013-14 and there has been an increase of about 60 per cent in the length of NHs to 1,46,204 km, he said. The length of National High-Speed Corridors (HSC) has expanded from 93 km in 2014 to 2,474 km at present, he said. New technologies, like precast construction, three-ft road barriers, and AI-based road safety tools, including drones and camera monitoring systems, are being introduced to boost efficiency and safety. 'We plan to plant 20–25 crore trees along highways, with an aim to transplant old trees and replant five for every one cut.' Talks for a tree bank are in advanced stages with the Ministry of Environment and once a go-ahead is received, full-fledged work will start, the minister said. Speaking about electric rapid transport, Mr Gadkari said a tender has been floated for a 135-seater electric bus in Nagpur as a pilot project. The bus will feature executive-class seating, air-conditioning, and airline-grade amenities, capable of running at speeds of 120–125 km/hr. It will recharge in 30–40 minutes at designated stops and is expected to cost 30 per cent less than traditional diesel buses while offering significantly lower emissions, he said. 'Once the trial is successful, we plan to introduce similar buses pan-India, including on routes like Delhi-Chandigarh, Delhi-Dehradun, Delhi-Meerut, Delhi-Jaipur, Mumbai-Pune, Mumbai-Aurangabad and Bangalore-Chennai, among others," he added. As many as 670 roadside amenities have already been approved, aimed at providing world-class facilities for both travellers and drivers across national highways, he said. The minister said India's transport sector contributes nearly 40 per cent to the country's air pollution, and emphasised that green mobility initiatives will not only help curb emissions but also significantly reduce the nation's annual fuel import bill of around Rs 22 lakh crore. He further claimed that improved road infrastructure will help bring down logistics costs from 14 per cent of GDP to 9 per cent by the end of the year, enhancing overall economic efficiency.
Time of India
21 minutes ago
- Time of India
GMB insolvency: Borosil exits loss-making German unit GMB, focus shifts to India's booming solar glass market
Borosil Renewables has moved to exit its German solar glass business, with its step-down subsidiary GMB Glasmanufaktur Brandenburg GmbH filing for insolvency, as the company shifts focus to the fast-growing Indian solar glass market. In a regulatory filing, Borosil said GMB has applied for the commencement of insolvency proceedings before the Insolvency Court in Cottbus, Germany, under the German Insolvency Code (InsO). The decision follows a comprehensive assessment of market viability, strategic priorities, and continued losses caused by plunging demand, PTI reported. "The challenges for GMB began with slide in demand for German made solar panels, when faced with the precipitous drop in prices by Chinese manufacturers of solar panels, who have engaged in large scale dumping in the European market, using predatory pricing," Borosil said. The company added that despite repeated warnings from German solar module makers, authorities had not taken meaningful protective action. This policy vacuum forced several German manufacturers to shut down or enter insolvency, leading to the collapse of demand for solar glass locally manufactured by GMB. As a result, GMB — once a vital part of Borosil's global footprint with a 350-tonne-per-day production capacity — reported substantial losses, adversely impacting Borosil's consolidated financials. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Quanto costa trasformare la vasca in doccia? Remail Scopri Undo Borosil's total exposure to its German operations stood at €35.3 million, or around Rs 340 crore, as of March 31, 2025. Effective July 4, 2025 — the date of the insolvency filing — Borosil will no longer account for GMB's monthly losses. Analysts noted that it allows Borosil to stem the capital bleed from a structurally declining market and redirect resources toward its home base in India, where solar power growth is surging. India presents a compelling growth story, one analyst said, quoted PTI citing aggressive solar capacity additions, strong infrastructure demand, and supportive policies such as production-linked incentives (PLI) and the Approved List of Models and Manufacturers (ALMM). India's solar module manufacturing capacity has already crossed 90 gigawatts and is expected to reach 150 gigawatts by March 2027, creating massive potential for domestic solar glass makers. Borosil aims to double down on its solar glass innovation, manufacturing scale, and ESG-aligned clean energy strategy. In May, it announced a Rs 950 crore investment to expand capacity by 600 tonnes per day by setting up two new furnaces of 300 TPD each — a 60% increase from its current 1,000 TPD base. The recent imposition of a five-year anti-dumping duty on solar glass imports from China and Vietnam, effective December 4, 2024, has created a more level playing field for Indian producers. This has already reflected in improved price realisations: average ex-factory selling prices for solar glass in Q4 FY25 rose to Rs 127.6 per millimetre per square metre from Rs 99.6 a year ago — a 28% jump. With its strategic pivot complete, Borosil is now positioned to consolidate its leadership in India's solar glass industry amid favourable policy tailwinds and growing market demand. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hindustan Times
24 minutes ago
- Hindustan Times
Donald Trump admin building own chatbot to boost govt tech with AI tools: Report
The Trump administration is developing a new website called ' and an API meant to 'accelerate government innovation with AI,' according to 404 Media, which found a draft version of the site with code posted to GitHub. Even though Musk is no longer involved in the government and is publicly feuding with the President, the plan shows that some of DOGE's ideas are still being used.(Pexels) The project seems to be led by the General Services Administration's Technology Transformation Services, which is run by Thomas Shedd, a former engineer at Tesla, according to As per New York Times, Shedd is connected to Elon Musk's Department of Government Efficiency (DOGE), and has publicly supported using AI to spot fraud, review government contracts, and build 'AI coding agents' to write software for federal agencies. The draft version of uncovered by 404 Media (the live link currently redirects to the White House website), outlines three tools as part of the platform and says they are 'powered by the best in American AI.' These include an AI chat assistant, an API that connects to models from OpenAI, Google, and Anthropic, and a dashboard for reviewing how AI is used across agencies. According to 404, the full site was supposed to go live on July 4th. Also Read: Trump rips apart Musk in brutal attack, calls DOGE 'a monster' that may 'go back and eat Elon' Elon Musk no longer involved in the government Even though Musk is no longer involved in the government and is publicly feuding with the President, the plan shows that some of DOGE's ideas are still being used. Shedd, described as a close Musk associate, who has pushed for the GSA to 'operate like a software startup' and has promoted the use of AI tools that other agencies would be required to adopt. The draft site also mentioned plans to work with Amazon Bedrock, Meta's LLaMA, and other FedRAMP-approved vendors, though some of the AI models mentioned do not currently have official government clearance. Federal workers raised concerns Some federal workers have raised concerns about the AI project. Internal reaction has been 'pretty unanimously negative,' with employees worried about possible security issues, the risk of bugs affecting key systems, and the chance that AI could suggest canceling important contracts.
