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

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

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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. 

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.

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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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