Jan 11: Men, women and companies

Who wants to share her fortune with others?

Austrian heiress Marlene Engelhorn

In a groundbreaking social experiment, Austrian heiress Marlene Engelhorn (31), a descendant of the BASF founder, is setting up a citizens group to determine how €25 million of her inherited wealth will be redistributed.

Motivated by concerns about wealth inequality and the absence of inheritance tax in Austria, she seeks public input in allocating this significant sum. The randomly selected 50 Austrian citizens will formulate proposals for using these funds to benefit the wider community.

"I have inherited a fortune, and therefore power, without having done anything for it. And the state doesn't even want taxes on it," she said. She believes this is unfair.

Which MP was caught shoplifting luxury clothes?

NZ's Green Party MP

Golriz Ghahraman, who used to be Green Party's justice, trade, and foreign affairs spokesperson, is taking a break from all that fancy stuff. Why? Well, there are accusations that she shoplifted from a high-end Auckland clothing store. Apparently, this happened during the festive season, which makes it extra awkward.

Remember, Golriz made history in 2017 by becoming the first refugee elected to parliament in New Zealand, having sought asylum from Iran after the Iran-Iraq war.

Which Indian state is seeing moolah?

Gujarat

India's industrial powerhouses are ready to pour billions into Gujarat. The ongoing Vibrant Gujarat Summit witnessed a deluge of investment pledges, solidifying Gujarat's position as a magnet for major players across various sectors. Sample this:

Reliance: They're set to materialize the much-anticipated Dhirubhai Ambani Green Complex in Jamnagar. This green giant will not only generate a significant number of eco-friendly jobs but also empower Gujarat to become a leading exporter of sustainable products and materials.

Adani Group: Adani has committed Rs. 2 lakh crore investment in Gujarat over the next five years. This colossal commitment will translate to 100,000+ direct and indirect jobs.

Tata Group: They will establish a semiconductor fabrication plant in Dholera. This cutting-edge facility will be instrumental in bolstering India's self-reliance in chip manufacturing.

Suzuki: They're investing Rs. 35,000 crore to build a second car plant in the state. Plus, the first Battery Electric Vehicle (BEV) from its Gujarat plant will be rolled out by 2024-end.

Who is losing its charm?

Big Tech

Big Tech is having a rough year, at least according to Glassdoor's rankings of the coolest places to work. Google went from #8 last year to #26, and Microsoft dropped from #13 to #18. Meta, Zillow, and Zoom have not even been invited to the party. Seems like all those layoffs (over 260,000 in 2023 alone!) and perk cutbacks are the reasons. On that note, Google is again laying off hundreds of employees working on its digital assistant, hardware and engineering teams.

Meanwhile, Apple, which kept the pink slips mostly under wraps, managed to sneak back in at #39 after being kicked out last year. And NVIDIA is crushing it at #2, with employees raving about the "smart, passionate people" and "killer culture."

Tomorrow in Financial Bytes: We will tell you which mutual fund categories to choose for long-term investment.

For the complete newsletter on WhatsApp, join this group (women-only): https://chat.whatsapp.com/IfOS5644PpsGyH0bCs1TNp

#whatsapp #community #onlywomen #technews #worldnews #financenews #newsletter