Singhvi in his tweet said, “Shocked & numbed two hear of passing of #IvanMenezes, my classmate at Columba’s & Stephen’s. A more gentle laid back & easy going soul would be difficult to find. I used to joke with him as to how, with these traits, he could head a multinational like #Diageo, which he so ably did. RIP my friend.”

Shocked &numbed 2hear of passing of #IvanMenezes, my classmate at Columba’s &Stephen’s. A more gentle laid back & easy going soul would be difficult 2find. I used 2joke with him as 2how, with these traits, he cld head a multinatl like #Diageo, which he so ably did. RIP my friend.

— Abhishek Singhvi (@DrAMSinghvi) June 7, 2023

Sunit Arora, an independent journalist and editor, tweeted that Menezes “will be sorely missed.”

Just learnt that Ivan Menezes has passed away…a gentle, brilliant man who will be deeply missed.

— Sunit Arora (@sunitarora) June 7, 2023

In a statement released on Monday, Diageo said, “Over the weekend, we learned that Ivan’s recovery suffered a significant setback due to complications, which followed emergency surgery on the ulcer.”

CEO-designate Debra Crew had undertaken the position on an interim basis, making her the first female CEO to manage a company included in the FTSE index of leading British corporations. The former US military intelligence officer will assume the company’s top position as it seeks to consolidate its dominance in the United States and establish several premium brands. She was named chief operating officer in 2017 and president of Diageo North America and Global Supply in 2020.

Menezes joined Diageo in 1997, following the merger of Guinness and Grand Metropolitan that created the company. The Indian-American led the company through multiple brand acquisitions and contributed to a significant sales increase.

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Anand Jain was once a billionaire and ranked eleventh on Forbes India’s list of the 40 richest people in 2007. Harsh Jain, the son of Anand Jain, co-founded the Indian fantasy sports enterprise Dream11.

According to the Economic Times, Anand Jain first rose to prominence at RIL in the mid-1980s, when he defeated the bear cartel commanded by Manu Manek, a former ‘kingpin’ of the Bombay Stock Exchange.

Anand Jain has been Mukesh Ambani’s close confidant for over 25 years. He served as vice chairman of both Reliance Capital and the Indian Petrochemicals Ltd. (IPCL) board of directors. He is the current director of Reliance Industries Limited. According to reports, Anand Jain is Reliance Chairman Mukesh Ambani’s most trusted advisor, and the billionaire industrialist consults him on all important matters.

It should be noted that Anand Jain does not receive a salary from Reliance Industries, but he is believed to be the mastermind behind Mukesh Ambani’s real estate investments.

Mukesh Ambani and Anand Jain attended Hill Grange High School in Mumbai together. In 1918, when Mukesh Ambani returned from Stanford University, Anand Jain quit his enterprises in Delhi to join Reliance Industries. Anand Jain has also worked closely with the late father of Mukesh Ambani, Dhirubhai Ambani.

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At the tail end of the previous year, in December, the French billionaire seized control of American billionaire Elon Musk. Following the termination of hundreds of Twitter workers, Musk found himself embroiled in scandals, which even had an effect on the share prices of Tesla. The whole technology industry was also confronted with difficulties as a result of rising prices.

Bloomberg reports that investors are losing faith in the robustness of the luxury industry as a result of accumulating evidence of an economic downturn, especially in China, which is an essential market. Arnault’s net worth took a major hit of $11 billion in a single day as a result of the decline in the price of LVMH’s shares, which occurred since April and totaled nearly 10 percent.

Elon Musk, on the other hand, has experienced a significant gain in his wealth this year of over $55.3 billion. This is mostly attributable to the success of Tesla, which accounts for 71% of Musk’s fortune and has seen a phenomenal 66% rally year-to-date.

According to the Bloomberg Billionaires Index, Bernard Arnault’s estimated fortune is worth about $186 billion, compared to Elon Musk’s current estimate of $192 billion. On the other hand, Forbes’ list of the richest people in the world still ranks Arnault at number one, while Musk comes in at number two with a stunning net worth of $180 billion. Musk’s fortune is estimated to be $180 billion, while Arnault’s wealth is estimated to be $211 billion.

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Ravi Kumar and Shrini Viswanath launched what is now known as Upstox in 2009 under the name RKSV Securities. Upstox is recognised as one of the investment platforms with the quickest expansion rate in the nation. The idea behind the firm was to build a platform that provides retail traders and investors in India with opportunities to invest. This was the company’s original concept. In 2016, Subramanian became one of the co-founders of Upstox. At the firm that has a value of $3.4 billion, she is in control of growth, strategy, finances, and the customer experience.

At the esteemed Indian Institute of Technology in Bombay, where she received both her Bachelor of Technology and Master of Technology degrees in Electronics and Telecommunications, Subramanian is a graduate. Following the completion of her studies in engineering at IIT, she entered the business sector and is now working as a business analyst for McKinsey & Company. After working in the business world for five years, Subramanian decided to get an MBA in finance from the prestigious Wharton School in the United States. She had previously held positions at the private equity and investment businesses Actis and LeapFrog Investments before becoming an employee of Upstox.

Upstox acquired an official relationship with the premier cricket event in India, the Indian Premier League, in 2021. The agreement was for three years and was reportedly valued at 145 crore rupees. This was done so that Upstox could increase its popularity and broaden its customer base. It was reported by Kavitha Subramanian that the objective of Upstox was to “pique the interest of the millions of young people who want to manage their finances better.” Upstox is supported by venture capital firms such as Tiger Global and Kalaari Capital, as well as angel investors such as the renowned business magnate Ratan Tata and the well-known cricketer Shikhar Dhawan.

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“Ratan Tata is a titan of biz, industry and philanthropy not just in India, but his contributions have also made a significant impact in Australia. Delighted to confer Order of Australia (AO) honour to Ratan Tata in recognition of his longstanding commitment to the Australia-India relationship,” Australia’s High Commissioner to India wrote in the caption of the tweet.

Take a look at the post here:

Ratan Tata is a titan of biz, industry & philanthropy not just in , but his contributions have also made a significant impact in . Delighted to confer Order of Australia (AO) honour to @RNTata2000 in recognition of his longstanding commitment to the relationship. @ausgov pic.twitter.com/N7e05sWzpV

— Barry O’Farrell AO (@AusHCIndia) April 22, 2023

The industrialist was appointed an honorary officer in the General Division of the Order of Australia one month prior to receiving this award.

The 85-year-old has advocated for the India-Australia Economic Cooperation and Trade Agreement of 2022, and Tata Consultancy Services (TCS) reportedly has the largest Australian workforce of any Indian company, with approximately 7,000 employees.

In October of last year, the RSS-affiliated Sewa Bharti awarded the industrialist the Sewa Ratna for his contributions to the field of philanthropy. It is common knowledge that Ratan Tata and his family have been engaged in charitable work for over fifty years. Tata Trusts donates 66% of the profits produced by the Tata companies under the holding company Tata Sons to charitable causes.

In addition, in 2020, when the world was struck by the COVID-19 pandemic, the Tata Trust pledged to donate Rs 1,500 crore to provide health supplies and equipment to frontline workers and the general public in order to combat the epidemic.

Ratan Tata assumed the position of chairman of the group in March 1991 and resigned in 2012. He was also awarded India’s second-highest civilian honour, the Padma Vibhushan, in 2008.

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In 1947, Mahindra joined his father’s enterprise, which began by producing and selling utility vehicles. From 1963 to 2012, he served as chairman of the Mumbai-listed conglomerate. He named his nephew, Anand Mahindra, as his successor upon retirement.

Mahindra, a graduate of the Wharton School of the University of Pennsylvania, converted the company from an India-based assembler of Willys Jeeps into a diversified conglomerate. In addition to tractors and sport utility vehicles, the 19 billion-dollar Mahindra Group is present in software services, hospitality, and real estate.

His demise occurs just days after reentering Forbes’ list of India’s wealthiest billionaires for 2023.

In addition to being a philanthropist, he contributed to the development of ethical corporations in India and was a member of numerous prestigious organisations and committees. The government appointed him to several committees, including the Sachar Commission on Company Law and MRTP and the Central Advisory Council of Industries.

Mahindra was a member of the Prime Minister’s Council on Trade and Industry from 2004 to 2010.

The post Keshub Mahindra, former chairman of Mahindra & Mahindra, passes away appeared first on Business Headline.

He shared the same on LinkedIn. Mr. Ghavri said that he has always aspired to be a businessman in order to “break the ceiling.” “I started my first entrepreneurial stint back in 2009 while I was in my college. Since my early childhood days, I was sure that I want to become a businessman, I think being from a service-class family and seeing cost-cutting all my life made me think that job will not help me to break this ceiling,” he said.

Mr. Ghavri went on to say that he didn’t know where to start and that the money he had was all his savings. “But the million-dollar question was how to start. I had only 8,000 rupees saved from my pocket money and money I got from relatives at various festivals,” he added

However, one day he noticed a waggon and had an inspiration. “One day looking at the Kwality Walls ice cream cart, an idea came to me to create a hot food cart. So I designed and worked on fabrication, tested a few food products and zeroed down on hotdogs and hence the first cart was ready.”

However, establishing a business proved to be quite tough for him. He was intimidated not just by his neighbours,but also by “municipal cooperation goons” and police. “But the journey was not easy! Since it was a cart, I was heckled by the policemen. Intimidated by municipal cooperation goons.”

Mr Ghavri added, “Initially, I could not afford employees so I had to make hot dogs and serve them to my customers in their cars. Engineering students serving food in cars was not conventional. I remember my neighbour aunty walking up to me onto my cart asking if everything is fine at home, or do I or my family need any monetary assistance.” Mr Gharvi said, “even my parents were embarrassed in front of friends and family”. However, this did not stop him.

He said that the meals sold out entirely in the first two days. “The response was crazy! We were scaling month on month. With whatever money I was making, I opened a few more carts in Chandigarh.”

Learning from his experience, the Third Unicorn Co-founder emphasised that as an entrepreneur, one must “keep his ego aside.” “I did not shy away from serving food to the customers. My neighbours and relatives judged me for it but that did not stop me. You always start small. And that’s totally fine. What’s more important is that you take the plunge to move out of your comfort zone and put your best foot forward,” he concluded.

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According to the Gordon and Betty Moore Foundation, Moore passed away peacefully on Friday at his home in Hawaii.

Moore helped start Intel in 1968. Before that, he had helped start an industry leader called Fairchild Semiconductor, which grew to become the world’s largest semiconductor maker at one point.The microprocessor, which is manufactured in Santa Clara, California, is used in about 80% of the world’s personal computers. Moore was the company’s CEO from 1975 until 1987.

Moore’s Law, the scientist’s 1965 discovery that the number of transistors on a computer chip, which affects the speed, memory, and capabilities of an electronic device, doubles every year, is currently used by Intel and other semiconductor producers to design products. The law, which Moore updated in 1975, remains a measure for advancement both inside and outside the chip industry, even if its ongoing validity is debatable.

Today, we lost a visionary.

Gordon Moore, thank you for everything. pic.twitter.com/bAiBAtmd9K

— Intel (@intel) March 25, 2023

Moore’s insight was critical to Intel’s climb to prominence. The corporation put growing amounts into perfecting the fabrication of the small electronic components at a rate that its competitors couldn’t match. Intel’s technology became the physical core of the personal computer revolution, then the internet revolution, until the company’s Asian competitors challenged its primacy.

Alive and Well

“Intel will be the steward of Moore’s Law for decades to come,” Chief Executive Officer Pat Gelsinger said in a January 2022 interview. He said the law “is alive and we’re going to keep it very well.”

Carver Mead, who taught engineering at the California Institute of Technology, came up with the idea of Moore’s Law.Moore was astounded by its power and persistence, preferring to demystify and minimise it.

“I wanted to get across, here’s an idea where the technology is going to evolve rapidly and it’s going to have a major impact on the cost of electronics,” Moore recalled for a video produced by the Chemical Heritage Foundation. “That was the main point I was trying to get across, that this was going to be the path to low-cost electronics.”

Moore was the head of research and development at Fairchild when he made his famous forecast in an article for the April 19, 1965, issue of Electronics magazine titled “Cramming More Components Onto Integrated Circuits.” He estimated that the most cost-effective circuit at the time would have 50 transistors, and that number would nearly quadruple each year to 65,000. There are billions of transistors in modern microprocessors.

In the same article he wrote: “Integrated circuits will lead to such wonders as home computers, or at least terminals connected to a central computer, automatic controls for automobiles and personal portable communications equipment.”

1975 Revision

Moore revised his formula in 1975, predicting that components per chip would double every two years rather than every year. David House, an Intel colleague, proposed the oft-quoted conclusion that a chip’s performance would double every 18 months owing to both the amount and quality of transistors.

According to Intel’s proxy filing from 2006, Moore had 173 million shares. His name appears in the company’s regulatory filings for the final time. According to the Bloomberg Billionaires Index, his net worth was $7.5 billion.

Moore established the Gordon and Betty Moore Foundation in 2000, which had assets of $9.5 billion as of 2021, making it one of the largest private grant-making organisations in the United States. It contributes to global environmental protection, health care, and scientific research, as well as local issues in the San Francisco Bay region. Moore attributed his interest in the environment to his passion for fishing.

Moore and his wife made major gifts to Caltech in Pasadena, California, including $600 million; $200 million to Caltech and the University of California to build the world’s most powerful optical telescope; and $100 million to the University of California at Davis to build a nursing school.

Sheriff’s Son

Gordon Earle Moore was born in San Francisco on January 3, 1929, and raised in Pescadero, California. When he was 10, his family relocated to Redwood City, California. Walter, his father, was a deputy sheriff. Florence Almira Williamson, his mother, had a modest general shop.

Moore became interested in chemistry after seeing a laboratory set at a neighbour’s home. He started experimenting with rockets and explosives while attending San Jose State University and studying chemistry. He met his wife, the former Betty Whittaker, there. Kenneth and Steven would be their offspring.

Moore moved to the University of California, Berkeley, and graduated as the first person in his family in 1950. Caltech awarded him a Ph.D. in physics and chemistry in 1954.

He got a position at Johns Hopkins University’s Applied Physics Laboratory in Silver Spring, Maryland.  William Shockley, who invented the transistor at Bell Telephone Laboratories and shared the Nobel Prize in Physics in 1956, got Moore to work at his Shockley Semiconductor Laboratory in Palo Alto, California.

Moore and seven coworkers, including Robert Noyce, left their jobs in 1957 to start Fairchild. They had $3,500 of their own money and Fairchild Camera and Instrument Corp. put in $1.5 million.Shockley called them the “Traitorous Eight.”In the late 1950s, Noyce contributed to the development of the integrated circuit, which serves as the foundation for all chip designs to this day. He passed away in 1990.

Forms Intel

Noyce and Moore started Intel, which stands for “integrated electronics.” They did this at a former Union Carbide plant in Mountain View, which would become the centre of Silicon Valley.Moore’s initial position was that of executive vice president. Another Fairchild employee, Andy Grove, soon joined them.

Intel launched its first microprocessor with over 2,000 transistors in 1971. Its 8080 microprocessor was used in the Altair 8800, which was released in 1975 and is largely regarded as the first successful personal computer. IBM chose Intel’s 8088 CPU to power its first personal computer in 1981.

Moore was appointed president and CEO in 1975 and chairman and CEO in 1979. Grove took over as CEO in 1987, and Moore resigned from Intel’s board of directors in 2001 at the age of 72, in line with a required retirement-age regulation he imposed.

Moore “does not boast, although his record of achievement provides a great deal to boast about,” Richard Tedlow wrote in his 2006 biography of Grove. “He appears to be, that is to say, simply a regular person.” Tedlow quoted Grove calling Moore “a smart guy with no airs.”

Most chip industry executives and observers today would claim that Moore’s Law is no longer valid. Some of the materials used to make semiconductors are barely an atom thick, which means they cannot be shrunk any more. The characteristics of the materials that make them semiconductors degrade at such small geometries. That renders them useless as minuscule switches representing the most fundamental kind of electrical information.

Moore predicted the end of Moore’s Law, which was the opposite of what other Intel executives did.

“Someday it has to stop,” Moore stated at a 2015 gathering commemorating the 50th anniversary of his legislation.  “No exponential thing like this continues indefinitely.”

Moore is survived by his wife, Betty Irene Whitaker, his sons Kenneth and Steven, and four grandchildren.

The post Gordon Moore, Intel co-founder who coined chip rule, dies at 94 appeared first on Business Headline.

Dorsey’s wealth fell by $526 million on Thursday, his worst one-day drop since May.  According to the Bloomberg Billionaires Index, he is now worth $4.4 billion following an 11% decline.

On Thursday, Hindenburg released a report alleging that Block overstated user statistics and that the company had a 65% to 75% drop “on a strictly basic basis.”The corporation disputed the accusations and said that it intends to pursue legal action against the short seller.

On Thursday, Block plummeted as high as 22% before finishing down 15%.

Dorsey, who also co-founded Twitter, has invested the majority of his personal money in Block.  According to the Bloomberg wealth index, his interest in the business is worth $3 billion, while his stake in Elon Musk’s social network startup is at $388 million.

It’s not the first time Hindenburg, led by Nathan Anderson, has targeted billionaires and destroyed their riches.

Earlier this year, the company revealed an investigation into India’s Gautam Adani and his empire, causing his firms’ stocks to drop and wiping off tens of billions of dollars from his net worth.

Adani, who was once the world’s second-richest individual, currently ranks 21st on Bloomberg’s wealth index with a fortune of $60.1 billion.

Hindenburg is also targeting Nikola Corp. in September 2020.  Nikola’s stock plummeted in the aftermath, and in October, its founder Trevor Milton was convicted of fraud.

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