While you were asleep: How one man lost $13bn in just four days

While investors pushed most Asian markets higher this morning on easing concerns about runaway inflation and an overheating US economy, one man lost more money this week than anyone else in the world.

Where just days ago he was closing the gap to become India’s richest man, billionaire Gautam Adani saw his dream of running up the global wealth rankings shattered after a media report sent investors fretting over three Mauritius funds. The bulk of the holdings of the funds are shares of Adani’s firms, reports Bloomberg.

While he’s licking his wounds, the latest New World Wealth report shows that the wealthy like South Africa’s lifestyle-estate living, with the country dominating the list of the top 10 lifestyle estates in the world for 2021.

Here’s a roundup of the world’s top and most interesting headlines.

SA Business

‘No objections’– Anoj Singh says board approved details for Transnet locomotive deal – Fin24

Malusi Gigaba adamant that estranged wife Norma Mngoma ‘fabricated’ Gupta links – Daily Maverick

Mboweni speaks his mind on wages and new basic income grant in private meeting – Business Tech

US Business

Juneteenth is now an official federal holiday – Mashable

Where Can You Fly Right Now? Europe can travel again; Britons are stuck at home – Bloomberg

Ford acquires Electriphi as it prepares to woo EV fleet customers – TechCrunch


Tokyo Olympics Promise to Be Weirdest Ever for Isolated Athletes – Bloomberg

Millions of Women Exit Workforce for a Little-Talked About Reason – Bloomberg

Kenneth Kaunda: the last giant of African nationalism and benign autocrat left a mixed legacy – The Conversation

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