The Centi-billionaire Club’s Newest Member | Rerouting Russian Oil | Return Of The Mask

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Good morning.

Indian billionaire
Gautam Adani built his fortune in the commodities and infrastructure sectors, but it's a boost to its renewable energy company that took his net worth past the $100 billion mark this week. We're also covering the logistic challenges facing Russian oil traders, and the return of the mask mandate in at least one American city. Finally, we unveil this year's Midas List of the world's top venture capitalist, with Chris Dixon taking the top spot. 

Sofia Lotto Persio

Sofia Lotto Persio

Curator-In-Chief | Twitter

In The News Today

The U.S. State Department ordered non-emergency consulate staffers to leave Shanghai, as local authorities eased some lockdown restrictions meant to curb China's worst Covid-19 outbreak.

The U.S. and the U.K. are investigating the possible use of chemical weapons by the Russian military in the besieged city of Mariupol after Ukraine's far-right Azov militia alleged a poisonous substance targeted Ukrainian troops.

Top Take-Aways

After a meteoric rise in his net worth over the past two years, Indian infrastructure tycoon Gautam Adani has become the world's newest centi-billionaire, joining an elite group of just eight other business moguls.

Sanctions, bans and voluntary embargoes have drastically reduced
demand for Russian oil shipments to its usual destinations. Finding new buyers isn't really an issue—figuring out the logistics of new trade routes is the biggest challenge.

The four-day Bitcoin 2022 conference in Miami left attendees feeling extra bullish about the
future of cryptocurrency. But on Monday, bitcoin and other cryptocurrencies like ether, solana and cardano, were all crashing down.

Had
Elon Musk decided to join Twitter's board of directors, he would not have been able to buy more than a 14.9% share of the company. By rejecting a seat, the world's richest person could lead a hostile takeover instead.

Blackmagic Design's Grant Petty turned the chip on his shoulder about Hollywood's tech elite into one of the most innovative manufacturers of inexpensive filmmaking equipment. Thanks to the pandemic, a contempt for outsourcing and an army of YouTubers, his business is booming.

As the daily number of reported Covid-19 cases is moving upward again in the United States, driven by the highly transmissible omicron BA.2 subvariant, at least one major U.S. city is bringing back its mask mandate—more might follow.

Today's Must Read

 
How Chris Dixon's Dive Down The Crypto Rabbit Hole Made Him The World's Top Venture Capitalist
 
 
 
How Chris Dixon's Dive Down The Crypto Rabbit Hole Made Him The World's Top Venture Capitalist

The Andreessen Horowitz partner is the new no. 1 on Forbes' 21st annual Midas List of top venture investors, thanks to savvy bets on tokens, NFTs and cryptocurrency exchange Coinbase. In fact, a dozen members of this year's Midas List count Coinbase as one of their banner investments, third most of any company. For the rest of the Midas top 100, bios, analysis and more, please visit forbes.com/midas.

Read The Full Story →
 

In Case You Missed It

Major oil and gas companies, which scrambled to abandon operations in Russia following the invasion of Ukraine in late February, have calculated the move will cost them billions of dollars.

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Tips You Can Trust

Transforming a business takes more than just going digital. These are four key aspects that leaders looking to rebuild their teams need to consider.

Today's Must Watch

 
Understanding Biden's Billionaire Tax
 
 
 

Features

Understanding Biden's Billionaire Tax
 

With economic challenges such as a widening income gap, high gas prices and rising inflation in mind, President Joe Biden recently presented a twofold plan for extremely wealthy Americans to pay more in taxes. 

Watch
 

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