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Bernard Arnault Becomes The Fourth Richest Man In The World

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Capitalism’s global conquest continues as entrepreneurs around the globe mint fortunes in everything from cryptocurrencies to telecom to fashion. Louis Vuitton (LVMH) maker, Chairman and CEO, Bernard Arnault, has overtaken Zara founder, Amancio Ortega, to become the fourth richest man in the world! According to recent numbers, Amancio’s net worth stands at $ 70.7 billion! The last couple of months have had a lot of ups and downs for the filthily rich people of the world.

With the new numbers, this Frenchman is not only the fourth richest man in the world but is also the richest man in all of Europe. With around 2,208 billionaires from over 72 countries, including the first ever from Hungarian and Zimbabwe, this elite group is now worth around $ 9.1 trillion. This astounding number was marked up by 18% as compared to last year’s net worth!

Their average net worth is a record $ 4.1 billion. Americans lead the way with a record 585 billionaires, closely followed by China, with 373 billionaires. Centi billionaire Jeff Bezos secures the list’s top spot for the first time, becoming the only person to appear on the list with a 12 figure fortune. Bezon’s fortune leapt up by more than $ 39 million, moving Bill Gates to the second position.

The list has 259 newcomers on the list including the first ever cryptocurrency billionaires, two Canadians whose toy company is right behind Hatchimals and PAW Patrol, two Americans who founded the online retailer Wayfair and a 35 year old heiress who runs In N Out Burger. With Bernard Arnault joining the ranks, there is a definite change in the way the world is growing. The year 2018 is clearly progressing towards innovation, progression and excellence.

With every new addition to the billionaires’ list, the mysteries of the world are revealed one page a time. With Bill Gates moved to the second position on the list and Bernard Arnault becoming a part of it, the list for this year is surprising, to say the least!

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Amazon India Launches At-Home Diagnostic Service, Expands Healthcare Ecosystem

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Amazon India has expanded its healthcare portfolio with the launch of Amazon Diagnostics, an at-home diagnostic testing service developed in partnership with Orange Health Labs. Now available in six major cities—Bengaluru, Delhi, Gurgaon, Noida, Mumbai, and Hyderabad—the service covers over 450 PIN codes and offers access to more than 800 diagnostic tests. Customers can book tests via the Amazon app, schedule home sample collection within 60 minutes, and receive digital reports for routine tests in as little as six hours, making healthcare more accessible and convenient than ever before.

This launch completes Amazon’s integrated healthcare suite in India, which already includes Amazon Pharmacy for medicines and Amazon Clinic for virtual doctor consultations. By bringing these services together under the Amazon Medical umbrella, the company enables a seamless outpatient journey—from doctor consultation to lab testing and medicine delivery—all managed through a single digital platform. The partnership with Orange Health Labs ensures high-quality, reliable diagnostics, supported by Amazon’s operational expertise and focus on customer trust.

Amazon’s entry into the $15 billion Indian diagnostics market signals a major shift in the country’s health-tech landscape, introducing new competition for established diagnostic players. Rather than competing solely on price, Amazon is prioritizing a seamless, trustworthy experience, aiming to address the growing demand for digital healthcare solutions and simplify access for millions of users across India.

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Bhavish Aggarwal’s Krutrim Unveils ‘Kruti’ — An Agentic AI Built for Bharat

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Bengaluru, June 2025 – Krutrim, the AI startup founded by Ola’s Bhavish Aggarwal, has launched its new agentic AI assistant, Kruti. Unlike traditional virtual assistants, Kruti is designed with an Indian-first approach — combining cultural context, multilingual capabilities, and generative AI to offer a more intuitive, task-oriented experience for users.

Kruti is built to do more than just respond to queries — it can independently perform tasks, make decisions, and integrate across platforms for productivity and communication. Powered by Krutrim’s proprietary Indian-trained language model, it brings a deep understanding of local languages and digital behaviors, catering to both personal and business needs in the Indian ecosystem.

Aggarwal described Kruti as “India’s digital brain,” highlighting its role in redefining AI for Bharat. The assistant will be rolled out in phases, starting with enterprise partners and expanding through apps and APIs. As Kruti integrates into various platforms — including Ola’s services — it marks a significant stride in India’s ambition to lead the global AI race.

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Bankruptcy Forces BYJU’S to Offload Epic and Tynker for a Fraction of Acquisition Cost

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BYJU’S, once India’s most celebrated edtech startup, has sold its major US-based subsidiaries Epic and Tynker for a fraction of their original purchase prices, marking a dramatic reversal in its global expansion strategy. The distressed sales, approved by a US bankruptcy court on May 20, 2025, come amid the company’s ongoing financial and legal turmoil. Tynker, a coding education platform acquired by BYJU’S in 2021 for $200 million, was sold to CodeHS for just $2.2 million in cash, while Epic, a digital reading platform bought for $500 million in 2022, was acquired by China’s TAL Education Group for $95 million.

These fire-sale transactions were part of a broader restructuring effort to address disputes with lenders after BYJU’S defaulted on a $1.2 billion loan, which triggered bankruptcy proceedings for its US entities. The company’s US unit, Byju’s Alpha, became the focal point of legal battles, including allegations of mismanagement and the misappropriation of funds by top executives. Court rulings in the US have highlighted instances of fraudulent transfers and breaches of fiduciary duty by suspended directors, further compounding BYJU’S woes.

As BYJU’S scrambles to stabilize its core operations, several of its other high-profile acquisitions, such as Great Learning and Aakash Institute, have started operating independently and distancing themselves from the parent company. The massive losses from the sales of Epic and Tynker underscore the risks of BYJU’S aggressive acquisition spree and the severe impact of its financial mismanagement, leaving the future of the once high-flying edtech giant in question.

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