The wealth of Mark Zuckerberg, Elon Musk, and others rose beyond $360 billion during the pandemic. Oracle and Dell’s leaders are among the other tech billionaires to have profited last year. Their wealth has attracted scrutiny amid systemic inequality in the US. The pandemic has been a crisis for many, but not for America’s wealthiest … Read more
Roblox, the gaming platform that soared to 32.6 million daily users, is going public this Wednesday. In 2020, the company paid out more than $328.74 million to Roblox game developers. Roblox games are built by independent developers – helping some teens pay for college. Read more on the Insider homepage. The wildly popular gaming platform … Read more
Remember Zandu balm? Back in 2008, Nihar Parikh had no inkling about the ferocity of the takeover battle between his family and Kolkata based who had raided their family’s crown jewel – the 10 year old OTC and ayurveda company Zandu Pharmaceuticals, makers of the eponymous pain relief balm, chyawanprash etc. Like most 22-year olds, … Read more
Edinburgh-based firm Baillie Gifford took early bets in some of last year’s biggest winners. Tesla, Moderna and Alibaba have made the firm profits of around $27.6 billion – Bloomberg data. The Baillie Gifford team told Insider their 3 tips to making a success of active investing. Visit the Business section of Insider for more stories. … Read more
The government is likely to amend the telecom licence norms this month to incorporate the guidelines of national security directive on telecommunication sector that will help in controlling installation of network equipment from China and other non-friendly countries. Under the provisions of this directive, the government will declare a list of trusted sources and trusted … Read more
Former Bessemer investor Sunil Nagaraj was in the middle of making a presentation when he started receiving a flood of messages. “I finished my presentation, glanced at my email, and I saw a bunch of congrats emails. My heart skipped a beat – I said, ‘Oh my God, what happened?” Nagaraj told Insider. “I looked … Read more
Chamath Palihapitiya has been labeled the King of SPACs and it could be for good reason. On Friday, investors got an update from Palihapitiya on how his SPAC investments have performed since inception, in 2021 and during the past down week. The Palihapitiya SPACs: Palihapitiya has plans to bring SPACs public with tickers IPOA to … Read more
New models of all cars will have to provide airbags for the front passenger seat from April 1 while all existing models can be sold after August 31 this year, only after being fitted with this safety gear. This mandatory provision was notified by the road transport ministry on Tuesday. “This has been mandated as … Read more
Putting at rest all speculation around a partnership with Tesla, Tata Sons chairman N Chandrasekaran said on Wednesday that there is “no dialogue” with the Elon Musk-owned car company for a partnership in India, while adding, “We will do it on our own.” “There is no dialogue with Tesla. With us, there is nothing,” Chandrasekaran … Read more