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Bernard Arnault Replaces Bill Gates As Second Richest Man In The World

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According to a report released by Bloomberg, Bill Gates, the co founder of Microsoft, was replaced as the world’s second richest person by Bernard Arnault, the Chairman of LVMH.  Bill Gates was ranked as the 2nd richest person in Bloomberg’s Billionaires Index for the last 7 years. However, he was replaced by Arnault after the French businessman added $ 39 billion in 2019 to his wealth, pushing his net worth to $ 108 billion.

 

Arnault, aged 70, joined world’s most exclusive wealth club after Jeff Bezos and Bill Gates, when his fortune surpassed the $ 100 billion mark for the first time in June 2019.  As the chairman and CEO of the luxury goods maker LVMH, most of Arnault’s wealth comes from his holdings in Louis Vuitton and Christian Dior.  He holds a 97 % stake in Christian Dior. Apart from Louis Vuitton, Bernard also oversees 70 other luxury good companies like Givenchy, Marc Jacobs, Sephora and Fendi, to name a few. 

 

Arnault and his family are among the list of luxury titans who pledged more than $ 650 million for the reconstruction of the Notre Dame Cathedral, which was destroyed by a massive fire in April 2019.

 

Bill Gates, with a net worth of $ 107 billion, lost the title of being the world’s second richest man because of his philanthropic work.  Gates donated over $ 35 billion to the Bill and Melinda Gates Foundation, founded in 2000 by him and his wife Melinda Gates.  The primary focus of the Foundation is to enhance healthcare and reduce extreme poverty. Amazon’s Bezos’ net worth was up slightly this year to $ 125 billion, despite his divorce settlement with his former wife MacKenzie Bezos, which saw MacKenzie keep 4% stake in his multinational technology company.  This made MacKenzie Bezos the 4th richest woman in the world.

 

Declared the richest man in Europe, Bernard Arnault has been climbing the ladder to success continuously.  His $ 39 billion addition to his wealth in 2019 alone, according to Bloomberg, is the biggest individual gain among the 500 people it ranks. 

 

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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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