Thursday 10 June 2021

NARENDRA DAMODARDAS MODI

 
Narendra Damodardas Modi

Narendra Damodardas Modi born 17 September 1950) is an Indian politician serving as the 14th and current prime minister of India since 2014. He was the chief minister of Gujarat from 2001 to 2014 and is the Member of Parliament for Varanasi. Modi is a member of the Bharatiya Janata Party (BJP) and its National Democratic Alliance (NDA). He is also a member of the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist volunteer organisation. He is the first prime minister born after India's independence, the second non-Congress one to win two consecutive terms after Atal Bihari Vajpayee and the first from outside the Congress to win both terms with a majority in the Lok Sabha. Born and raised in Vadnagar, a small town in northeastern Gujarat, Modi completed his secondary education there, and is said to have helped his father sell tea at the local railway station. He was introduced to the RSS at age eight. Modi left home after finishing high-school in part due to child marriage to Jashodaben Chimanlal Modi, which he publicly acknowledged only many decades later. Modi travelled around India for two years and visited a number of religious centres before returning to Gujarat. In 1971 he became a full-time worker for the RSS. During the state of emergency imposed across the country in 1975, Modi was forced to go into hiding. The RSS assigned him to the BJP in 1985 and he held several positions within the party hierarchy until 2001, rising to the rank of general secretary. Modi was appointed Chief Minister of Gujarat in 2001 due to Keshubhai Patel's failing health and poor public image following the earthquake in Bhuj. Modi was elected to the legislative assembly soon after. His administration has been considered complicit in the 2002 Gujarat riots,[c] or otherwise criticised for its handling of it. A Supreme Court-appointed Special Investigation Team found no evidence to initiate prosecution proceedings against Modi personally. His policies as chief minister, credited with encouraging economic growth, have received praise. His administration has been criticised for failing to significantly improve health, poverty and education indices in the state.Modi led the BJP in the 2014 general election which gave the party a majority in the Indian lower house of parliament, the Lok Sabha, the first time for any single party since 1984. Modi's administration has tried to raise foreign direct investment in the Indian economy and reduced spending on healthcare and social welfare programmes. Modi has attempted to improve efficiency in the bureaucracy; he has centralised power by abolishing the Planning Commission. He began a high-profile sanitation campaign, initiated a controversial demonetisation of high-denomination banknotes and weakened or abolished environmental and labour laws.Under Modi's tenure, India has experienced democratic backsliding.Following his party's victory in the 2019 general election, his administration revoked the special status of Jammu and Kashmir. His administration also introduced the Citizenship Amendment Act, which resulted in widespread protests across the country. Described as engineering a political realignment towards right-wing politics, Modi remains a figure of controversy domestically and internationally over his Hindu nationalist beliefs and his alleged role during the 2002 Gujarat riots, cited as evidence of an exclusionary social agenda.

Early life and education

Narendra Modi was born on 17 September 1950 to a Gujarati Hindu family of grocers in Vadnagar, Mehsana district, Bombay State (present-day Gujarat). He was the third of six children born to Damodardas Mulchand Modi (c. 1915–1989) and Hiraben Modi (born c. 1920). Modi's family belonged to the Modh-Ghanchi-Teli (oil-presser) community, which is categorised as an Other Backward Class by the Indian government. He was falsely accused by Mayawati that he added his caste to the Other Backward Class (OBC) list as a political tool. As a child, Modi is said to have helped his father sell tea at the Vadnagar railway station, and said that he later ran a tea stall with his brother near a bus terminus. Modi completed his higher secondary education in Vadnagar in 1967, where a teacher described him as an average student and a keen debater, with interest in theatre.  Modi had an early gift for rhetoric in debates, and his teachers and students noted this.  Modi preferred playing larger-than-life characters in theatrical productions, which has influenced his political image. When eight years old, Modi discovered the Rashtriya Swayamsevak Sangh (RSS) and began attending its local shakhas (training sessions). There, Modi met Lakshmanrao Inamdar, popularly known as Vakil Saheb, who inducted him as a balswayamsevak (junior cadet) in the RSS and became his political mentor. While Modi was training with the RSS, he also met Vasant Gajendragadkar and Nathalal Jaghda, Bharatiya Jana Sangh leaders who were founding members of the BJP's Gujarat unit in 1980. Also in Narendra Modi's childhood, in a custom traditional to his caste, his family arranged a betrothal to a girl, Jashodaben Chimanlal Modi, leading to their marriage when they were teenagers. Sometime thereafter, he abandoned the further marital obligations implicit in the custom,  and left home, the couple going on to lead separate lives, neither marrying again, and the marriage itself remaining unmentioned in Modi's public pronouncements for many decades. In April 2014, shortly before the national elections that swept him to power, Modi publicly affirmed that he was married and his spouse was Jashodaben; the couple has remained married, but estranged. Modi spent the ensuing two years travelling across Northern and North-eastern India, though few details of where he went have emerged. In interviews, Modi has described visiting Hindu ashrams founded by Swami Vivekananda: the Belur Math near Kolkata, followed by the Advaita Ashrama in Almora and the Ramakrishna Mission in Rajkot. Modi remained only a short time at each, since he lacked the required college education.Vivekananda has been described as a large influence in Modi's life. In the early summer of 1968, Modi reached the Belur Math but was turned away, after which Modi wandered through Calcutta, West Bengal and Assam, stopping in Siliguri and Guwahati. Modi then went to the Ramakrishna Ashram in Almora, where he was again rejected, before travelling back to Gujarat via Delhi and Rajasthan in 1968–69. Sometime in late 1969 or early 1970, Modi returned to Vadnagar for a brief visit before leaving again for Ahmedabad. There, Modi lived with his uncle, working in the latter's canteen at theGujarat State Road Transport Corporation. In Ahmedabad, Modi renewed his acquaintance with Inamdar, who was based at the Hedgewar Bhavan (RSS headquarters) in the city. Modi's first known political activity as an adult was in 1971 when he joined a Jana Sangh satyagraha in Delhi led by Atal Bihari Vajpayee to enlist for the battlefield. But the Indira Gandhi led Central government disallowed open support to Mukti Bahini and Modi was put in Tihar Jail for a short period.  After the Indo-Pakistani War of 1971, he stopped working for his uncle and became a full-time pracharak (campaigner) for the RSS, working under Inamdar. Shortly before the war, Modi took part in a non-violent protest against the Indian government in New Delhi, for which he was arrested; this has been cited as a reason for Inamdar electing to mentor him. Many years later Modi would co-author a biography of Inamdar, published in 2001. In 1978 Modi received a Bachelor of Arts degree in political science from the School of Open Learning at the University of Delhi,  graduating with a third class. Five years later, in 1983, he received a Master of Arts degree in political science from Gujarat University, graduating with a first class  as an external distance learning student.

Early political career

In June 1975, Prime Minister Indira Gandhi declared a state of emergency in India which lasted until 1977. During this period, known as "The Emergency", many of her political opponents were jailed and opposition groups were banned. Modi was appointed general secretary of the "Gujarat Lok Sangharsh Samiti", an RSS committee co-ordinating opposition to the Emergency in Gujarat. Shortly afterwards, the RSS was banned. Modi was forced to go underground in Gujarat and frequently travelled in disguise to avoid arrest. He became involved in printing pamphlets opposing the government, sending them to Delhi and organising demonstrations. Modi was also involved with creating a network of safe houses for individuals wanted by the government, and in raising funds for political refugees and activists. During this period, Modi wrote a book in Gujarati, Sangharsh Ma Gujarat (In The Struggles of Gujarat), describing events during the Emergency. Among the people he met in this role was trade unionist and socialist activist George Fernandes, as well as several other national political figures. In his travels during the Emergency, Modi was often forced to move in disguise, once dressing as a monk, and once as a Sikh.Modi became an RSS sambhag pracharak (regional organiser) in 1978, overseeing RSS activities in the areas of Surat and Vadodara, and in 1979 he went to work for the RSS in Delhi, where he was put to work researching and writing the RSS's version of the history of the Emergency. He returned to Gujarat a short while later, and was assigned by the RSS to the BJP in 1985. In 1987 Modi helped organise the BJP's campaign in the Ahmedabad municipal election, which the BJP won comfortably; Modi's planning has been described as the reason for that result by biographers. After L. K. Advani became president of the BJP in 1986, the RSS decided to place its members in important positions within the BJP; Modi's work during the Ahmedabad election led to his selection for this role, and Modi was elected organising secretary of the BJP's Gujarat unit later in 1987. Modi rose within the party and was named a member of the BJP's National Election Committee in 1990, helping organise L. K. Advani's 1990 Ram Rath Yatra in 1990 and Murli Manohar Joshi's 1991–92 Ekta Yatra (Journey for Unity).However, he took a brief break from politics in 1992, instead establishing a school in Ahmedabad; friction with Shankersinh Vaghela, a BJP MP from Gujarat at the time, also played a part in this decision. Modi returned to electoral politics in 1994, partly at the insistence of Advani, and as party secretary, Modi's electoral strategy was considered central to the BJP victory in the 1995 state assembly elections. In November of that year Modi was elected BJP national secretary and transferred to New Delhi, where he assumed responsibility for party activities in Haryana and Himachal Pradesh.  The following year, Shankersinh Vaghela, a prominent BJP leader from Gujarat, defected to the Indian National Congress (Congress, INC) after losing his parliamentary seat in the Lok Sabha elections Modi, on the selection committee for the 1998 Assembly elections in Gujarat, favoured supporters of BJP leader Keshubhai Patel over those supporting Vaghela to end factional division in the party. His strategy was credited as key to the BJP winning an overall majority in the 1998 elections, and Modi was promoted to BJP general secretary (organisation) in May of that year.

Chief Minister of Gujarat
Taking office


In 2001, Keshubhai Patel's health was failing and the BJP lost a few state assembly seats in by-elections. Allegations of abuse of power, corruption and poor administration were made, and Patel's standing had been damaged by his administration's handling of the earthquake in Bhuj in 2001. The BJP national leadership sought a new candidate for the chief ministership, and Modi, who had expressed misgivings about Patel's administration, was chosen as a replacement. Although BJP leader L. K. Advani did not want to ostracise Patel and was concerned about Modi's lack of experience in government, Modi declined an offer to be Patel's deputy chief minister, telling Advani and Atal Bihari Vajpayee that he was "going to be fully responsible for Gujarat or not at all". On 3 October 2001 he replaced Patel as Chief Minister of Gujarat, with the responsibility of preparing the BJP for the December 2002 elections. Modi was sworn in as Chief Minister on 7 October 2001,  and entered the Gujarat state legislature on 24 February 2002 by winning a by-election to the Rajkot – II constituency, defeating Ashwin Mehta of the INC by 14,728 votes.

2002 Gujarat riots

On 27 February 2002, a train with several hundred passengers burned near Godhra, killing approximately 60 people. The train carried a large number of Hindu pilgrims returning from Ayodhya after a religious ceremony at the site of the demolished Babri Masjid. In making a public statement after the incident, Modi declared it a terrorist attack planned and orchestrated by local Muslims. The next day, the Vishwa Hindu Parishad called for a bandh across the state. Riots began during the bandh, and anti-Muslim violence spread through Gujarat. The government's decision to move the bodies of the train victims from Godhra to Ahmedabad further inflamed the violence.The state government stated later that 790 Muslims and 254 Hindus were killed. Independent sources put the death toll at over 2000. Approximately 150,000 people were driven to refugee camps. Numerous women and children were among the victims; the violence included mass rapes and mutilations of women.The government of Gujarat itself is generally considered by scholars to have been complicit in the riots, and has otherwise received heavy criticism for its handling of the situation. Several scholars have described the violence as a pogrom, while others have called it an example of state terrorism. Summarising academic views on the subject, Martha Nussbaum said: "There is by now a broad consensus that the Gujarat violence was a form of ethnic cleansing, that in many ways it was premeditated, and that it was carried out with the complicity of the state government and officers of the law." The Modi government imposed a curfew in 26 major cities, issued shoot-at-sight orders and called for the army to patrol the streets, but was unable to prevent the violence from escalating. The president of the state unit of the BJP expressed support for the bandh, despite such actions being illegal at the time. State officials later prevented riot victims from leaving the refugee camps, and the camps were often unable to meet the needs of those living there  Muslim victims of the riots were subject to further discrimination when the state government announced that compensation for Muslim victims would be half of that offered to Hindus, although this decision was later reversed after the issue was taken to court. During the riots, police officers often did not intervene in situations where they were able. Modi's personal involvement in the 2002 events has continued to be debated. During the riots, Modi said that "What is happening is a chain of action and reaction." Later in 2002, Modi said the way in which he had handled the media was his only regret regarding the episode.In March 2008, the Supreme Court reopened several cases related to the 2002 riots, including that of the Gulbarg Society massacre, and established a Special Investigation Team (SIT) to look into the issue. In response to a petition from Zakia Jafri (widow of Ehsan Jafri, who was killed in the Gulbarg Society massacre), in April 2009 the court also asked the SIT to investigate the issue of Modi's complicity in the killings. The SIT questioned Modi in March 2010; in May, it presented to the court a report finding no evidence against him In July 2011, the court-appointed amicus curiae Raju Ramachandran submitted his final report to the court. Contrary to the SIT's position, he said that Modi could be prosecuted based on the available evidence. The Supreme Court gave the matter to the magistrate's court. The SIT examined Ramachandran's report, and in March 2012 submitted its final report, asking for the case to be closed. Zakia Jafri filed a protest petition in response. In December 2013 the magistrate's court rejected the protest petition, accepting the SIT's finding that there was no evidence against the chief minister.

2002 Gujarat Legislative Assembly election

In the aftermath of the violence there were widespread calls for Modi to resign as chief minister from within and outside the state, including from leaders of the Dravida Munnetra Kazhagam and the Telugu Desam Party (allies in the BJP-led National Democratic Alliance coalition), and opposition parties stalled Parliament over the issue.  Modi submitted his resignation at the April 2002 BJP national executive meeting in Goa, but it was not accepted.His cabinet had an emergency meeting on 19 July 2002, after which it offered its resignation to the Gujarat Governor S. S. Bhandari, and the state assembly was dissolved .Despite opposition from the election commissioner, who said that a number of voters were still displaced, Modi succeeded in advancing the election to December 2002. In the elections, the BJP won 127 seats in the 182-member assembly. Although Modi later denied it, he made significant use of anti-Muslim rhetoric during his campaign,and the BJP profited from religious polarisation among the voters. He won the Maninagar constituency, receiving 113,589 of 154,981 votes and defeating INC candidate Yatin Oza by 75,333 votes. On 22 December 2002, Bhandari swore Modi in for a second term. Modi framed the criticism of his government for human rights violations as an attack upon Gujarati pride, a strategy which led to the BJP winning two-thirds of the seats in the state assembly.

Second term

During Modi's second term the rhetoric of the government shifted from Hindutva to Gujarat's economic development. Modi curtailed the influence of Sangh Parivar organisations such as the Bharatiya Kisan Sangh (BKS) and the Vishva Hindu Parishad (VHP), entrenched in the state after the decline of Ahmedabad's textile industry, and dropped Gordhan Zadafia (an ally of former Sangh co-worker and VHP state chief Praveen Togadia) from his cabinet. When the BKS staged a farmers' demonstration Modi ordered their eviction from state-provided houses, and his decision to demolish 200 illegal temples in Gandhinagar deepened the rift with the Vishva Hindu Parishad. Sangh organisations were no longer consulted or informed in advance about Modi's administrative decisions. Nonetheless, Modi retained connections with some Hindu nationalists. Modi wrote a foreword to a textbook by Dinanath Batra released in 2014, which stated that ancient India possessed technologies including test-tube babies. Modi's relationship with Muslims continued to attract criticism. Prime Minister Atal Bihari Vajpayee (who asked Modi for tolerance in the aftermath of the 2002 Gujarat violence and supported his resignation as chief minister) distanced himself, reaching out to North Indian Muslims before the 2004 Lok Sabha elections. After the elections Vajpayee called the violence in Gujarat a reason for the BJP's electoral defeat and said it had been a mistake to leave Modi in office after the riots. Questions about Modi's relationship with Muslims were also raised by many Western nations during his tenure as chief minister. Modi was barred from entering the United States by the State Department, in accordance with the recommendations of the Commission on International Religious Freedom formed under the aegis of the International Religious Freedom Act, the only person denied a US visa under this law. The UK and the European Union refused to admit him because of what they saw as his role in the riots. As Modi rose to prominence in India, the UK and the EU  lifted their bans in October 2012 and March 2013, respectively, and after his election as prime minister he was invited to Washington. During the run-up to the 2007 Gujarat Legislative Assembly election and the 2009 Indian general election, the BJP intensified its rhetoric on terrorism. In July 2006, Modi criticised Prime Minister Manmohan Singh " for his reluctance to revive anti-terror legislation" such as the 2002 Prevention of Terrorism Act. He asked the national government to allow states to invoke tougher laws in the wake of the 2006 Mumbai train bombings. In 2007 Modi authored Karmayog, a 101-page booklet discussing manual scavenging. In it, Modi argued that scavenging was a "spiritual experience" for Valmiks, a sub-caste of Dalits. However, this book was not circulated that time because of the election code of conduct. After the November 2008 Mumbai attacks, Modi held a meeting to discuss the security of Gujarat's 1,600-kilometre (990 mi)-long coastline, resulting in government authorisation of 30 high-speed surveillance boats. In July 2007 Modi completed 2,063 consecutive days as chief minister of Gujarat, making him the longest-serving holder of that post, and the BJP won 122 of 182 state-assembly seats in that year's election.

Development projects 

 
 
The Sardar Sarovar Dam during a 2006 height increase

As Chief Minister, Modi favoured privatisation and small government, which was at odds with the philosophy of the RSS, usually described as anti-privatisation and anti-globalisation. His policies during his second term have been credited with reducing corruption in the state. He established financial and technology parks in Gujarat and during the 2007 Vibrant Gujarat summit, real-estate investment deals worth ?6.6 trillion were signed. The governments led by Patel and Modi supported NGOs and communities in the creation of groundwater-conservation projects. By December 2008, 500,000 structures had been built, of which 113,738 were check dams, which helped recharge the aquifers beneath them. Sixty of the 112 tehsils which had depleted the water table in 2004 had regained their normal groundwater levels by 2010. As a result, the state's production of genetically modified cotton increased to become the largest in India.  The boom in cotton production and its semi-arid land use  led to Gujarat's agricultural sector growing at an average rate of 9.6 percent from 2001 to 2007.Public irrigation measures in central and southern Gujarat, such as the Sardar Sarovar Dam, were less successful. The Sardar Sarovar project only irrigated 4–6% of the area intended. Nonetheless, from 2001 to 2010 Gujarat recorded an agricultural growth rate of 10.97 percent – the highest of any state. However, sociologists have pointed out that the growth rate under the 1992–97 INC government was 12.9 percent.  In 2008 Modi offered land in Gujarat to Tata Motors to set up a plant manufacturing the Nano after a popular agitation had forced the company to move out of West Bengal. Several other companies followed the Tata to Gujarat. The Modi government finished the process of bringing electricity to every village in Gujarat that its predecessor had almost completed. Modi significantly changed the state's system of power distribution, greatly impacting farmers. Gujarat expanded the Jyotigram Yojana scheme, in which agricultural electricity was separated from other rural electricity; the agricultural electricity was rationed to fit scheduled irrigation demands, reducing its cost. Although early protests by farmers ended when those who benefited found that their electricity supply had stabilised,  according to an assessment study corporations and large farmers benefited from the policy at the expense of small farmers and labourers.

Development debate
 
 
 
Modi addressing graduates of the Gujarat National Law University in 2012
 

A contentious debate surrounds the assessment of Gujarat's economic development during Modi's tenure as chief minister. The state's GDP growth rate averaged 10% during Modi's tenure, a value similar to other highly industrialised states, and above that of the country as a whole.  Gujarat also had a high rate of economic growth in the 1990s, before Modi took office, and scholars have stated that growth did not accelerate during Modi's tenure. Under Modi, Gujarat topped the World Bank's "ease of doing business" rankings among Indian states for two consecutive years.  In 2013, Gujarat was ranked first among Indian states for "economic freedom" by a report measuring governance, growth, citizens' rights and labour and business regulation among the country's 20 largest states.In the later years of Modi's government, Gujarat's economic growth was frequently used as an argument to counter allegations of communalism. Tax breaks for businesses were jeasier to obtain in Gujarat than in other states, as was land. Modi's policies to make Gujarat attractive for investment included the creation of Special Economic Zones, where labour laws were greatly weakened. Despite its growth rate, Gujarat had a relatively poor record on human development, poverty relief, nutrition and education during Modi's tenure. In 2013, Gujarat ranked 13th in the country with respect to rates of poverty and 21st in education. Nearly 45 percent of children under five were underweight and 23 percent were undernourished, putting the state in the "alarming" category on the India State Hunger Index. A study by UNICEF and the Indian government found that Gujarat under Modi had a poor record with respect to immunisation in children. Over the decade from 2001 to 2011, Gujarat did not change its position relative to the rest of the country with respect to poverty and female literacy, remaining near the median of the 29 Indian states. It showed only amarginal improvement in rates of infant mortality, and its position with respect to individual consumption declined.  With respect to the quality of education in government schools, the state ranked below most Indian states.The social policies of the government generally did not benefit Muslims, Dalits, and Adivasis, and generally increased social inequalities.  Development in Gujarat was generally limited to the urban middle class, and citizens in rural areas or from lower castes were increasingly marginalised. In 2013 the state ranked 10th of 21 Indian states in the Human Development Index  Under Modi, the state government spent far less than the national average on education and healthcare.

Final years
Further information: 2012 Gujarat Legislative Assembly election


Despite the BJP's shift away from explicit Hindutva, Modi's election campaign in 2007 and 2012 contained elements of Hindu nationalism. Modi only attended Hindu religious ceremonies, and had prominent associations with Hindu religious leaders. During his 2012 campaign he twice refused to wear articles of clothing gifted by Muslim leaders. He did, however, maintain relations with Dawoodi Bohra. His campaign included references to issues known to cause religious polarisation, including to Afzal Guru and the killing of Sohrabuddin Sheikh. The BJP did not nominate any Muslim candidates for the assembly election of 2012.  During the 2012 campaign, Modi attempted to identify himself with the state of Gujarat, a strategy similar to that used by Indira Gandhi during the Emergency, and projected himself as protecting Gujarat against persecution by the rest of India.  While campaigning for the 2012 assembly elections, Modi made extensive use of holograms and other technologies allowing him to reach a large number of people,  something he would repeat in the 2014 general election. In the 2012 Gujarat Legislative Assembly elections, Modi won the constituency of Maninagar by 86,373 votes over Shweta Bhatt, the INC candidate and wife of Sanjiv Bhatt. The BJP won 115 of the 182 seats, continuing its majority during his tenure and allowing the party to form the government (as it had in Gujarat since 1995).  In later by-elections the BJP won four more assembly seats and two Lok Sabha seats held by the INC, although Modi did not campaign for its candidates. In 2013, the Wharton India Economic Forum (WIEF) at the Wharton School of the University of Pennsylvania cancelled a keynote video-conference speech by Modi following protests by Indian-Americans.

Premiership campaigns:
Bharatiya Janata Party campaign for the 2014 Indian general election


In September 2013 Modi was named the BJP's candidate for prime minister ahead of the 2014 Lok Sabha election. Several BJP leaders expressed opposition to Modi's candidature,  including BJP founding member L. K. Advani, who cited concern with leaders who were "concerned with their personal agendas".  Modi played a dominant role in the BJP's election campaign.Several people who voted for the BJP stated that if Modi had not been the prime-ministerial candidate, they would have voted for another party. The focus on Modi as an individual was unusual for a BJP election campaign  The election was described as a referendum on Narendra Modi.
 
 
 
Modi meets his mother after winning the 2014 elections 
 
During the campaign, Modi focused on the corruption scandals under the previous INC government, and played on his image as a politician who had created a high rate of GDP growth in Gujarat. Modi projected himself as a person who could bring about "development," without focus on any specific policies His message found support among young Indians and among middle-class citizens. The BJP under Modi was able to downplay concerns about the protection of religious minorities and Modi's commitment to secularism, areas in which he had previously received criticism.Prior to the election Modi's image in the media had centered around his role in the 2002 Gujarat riots, but during the campaign the BJP was able to shift this to a focus on Modi's neoliberal ideology and the Gujarat model of development,  although Hindutva remained a significant part of its campaign. The BJP's campaign was assisted by its wide influence in the media. Modi's campaign blitz cost approximately  50 billion (US$700 million), and received extensive financial support from corporate donors.  In addition to more conventional campaign methods, Modi made extensive use of social media,  and addressed more than 1000 rallies via hologram appearances. The BJP won 31% of the vote, and more than doubled its tally in the Lok Sabha to 282, becoming the first party to win a majority of seats on its own since 1984. Voter dissatisfaction with the INC, as well as with regional parties in North India, was another reason for the success of the BJP,  as was the support from the RSS. In states such as Uttar Pradesh in which the BJP performed well, it drew exceptionally high support from upper-caste Hindus, although the 10 percent of Muslim votes won was more than it had won before. It performed particularly well in parts of the country that had recently experienced violence between Hindus and Muslims. The magnitude of the BJP's victory led many commentators to say that the election constituted a political  realignment away from progressive parties and towards the right-wing. Modi's tweet announcing his victory was described as being emblematic of the political realignment away from a secular, socialist state towards capitalism and Hindu cultural nationalism. Modi himself was a candidate for the Lok Sabha in two constituencies: Varanasi and Vadodara.  He won in both constituencies, defeating Aam Aadmi Party leader Arvind Kejriwal in Varanasi and Madhusudan Mistry of the INC in Vadodara by 570,128 votes. Modi, who was unanimously elected leader of the BJP, was appointed prime minister by India's president. To comply with the law that an MP cannot represent more than one  constituency, he vacated the Vadodara seat.
 
Bharatiya Janata Party campaign for the 2019 Indian general election

On 13 October 2018, Modi was renamed as the BJP candidate for prime minister for the 2019 general election. The chief campaigner for the party was BJP's president Amit Shah. Modi launched the Main Bhi Chowkidar campaign ahead of the general election. In the year 2018, end Party's, second-biggest alliance Telugu Desam Party split from NDA over the matter of special-status for Andhra Pradesh.The campaign was started by Amit Shah on 8 April 2019. In the campaign, Modi was targeted by the opposition on corruption allegations over Rafale deal with France government. Highlighting this controversy the campaign "Chowkidar Chor Hai" was started, which was contrary to "Main Bhi Chowkidar" slogan.  Modi made defence and national security among the foremost topics for the election campaign, especially after Pulwama attack, and the retaliatory attack of Balakot airstrike was counted as an achievement of the Modi administration. Other topics in the campaign were development and good foreign relations in the first premiership.

Prime Minister
 
 
 
Narendra Modi takes the oath of office as the Prime Minister of India, with President Pranab Mukherjee administering the oath.

After the Bharatiya Janata Party led National Democratic Alliance won a landslide in the 2014 Lok Sabha election, Narendra Modi was sworn in as the Prime Minister of India on 26 May 2014. He became the first Prime Minister born after India's independence from the British Empire. Modi started his second term after the Bharatiya Janata Party led National Democratic Alliance won again in the 2019 Lok Sabha election. Modi became the 4th longest serving Prime Minister of India and the longest serving Non-Congress Prime Minister in 2020.

Governance and other initiatives
 
 
 
Narendra Modi takes the oath of office as the Prime Minister of India for the second time, with President Ram Nath Kovind administering the oath.

 
Prime Minister Narendra Modi taking charge of the office of the Prime Minister of India, at South Block, in New Delhi on 27 May 2014.

Modi's first year as prime minister saw significant centralisation of power relative to previous administrations. His efforts at centralisation have been linked to an increase in the number of senior administration officials resigning their positions. Initially lacking a majority in the Rajya Sabha, or upper house of Indian Parliament, Modi passed a number of ordinances to enact his policies, leading to further centralisation of power. The government also passed a bill increasing the control that it had over the appointment of judges, and reducing that of the judiciary. In December 2014 Modi abolished the Planning Commission, replacing it with the National Institution for Transforming India, or NITI Aayog. The move had the effect of greatly centralising the power previously with the planning commission in the person of the prime minister.  The planning commission had received heavy criticism in previous years for creating inefficiency in the government, and of not filling its role of improving social welfare: however, since the economic liberalisation of the 1990s, it had been the major government body responsible for measures related to social justice.  The Modi government launched investigations by the Intelligence Bureau against numerous civil society organisations and foreign non-governmental organisations in the first year of the administration. The investigations, on the grounds that these organisations were slowing economic growth, was criticised as a witch-hunt. International humanitarian aid organisation Medecins Sans Frontieres was among the groups that were put under pressure. Other organisations affected included the Sierra Club and Avaaz. Cases of sedition were filed against individuals criticising the government. This led to discontent within the BJP regarding Modi's style of functioning and drew comparisons to the governing style of Indira Gandhi Modi repealed 1,200 obsolete laws in first three years as prime minister; a total of 1,301 such laws had been repealed by previous governments over a span of 64 years.He started a monthly radio programme titled "Mann Ki Baat" on 3 October 2014.  Modi also launched the Digital India programme, with the goal of ensuring that government services are available electronically, building infrastructure to provide high-speed Internet access to rural areas, boosting manufacturing of electronic goods in the country, and promoting digital literacy. Modi launched Ujjwala scheme to provide free LPG connection to rural households. The scheme led to an increase in LPG consumption by 56% in 2019 as compared to 2014 . In 2019, a law was passed to provide 10% reservation to Economically weaker sections. He was again sworn in as Prime minister on 30 May 2019. On 30 July 2019, Parliament of India declared the practice of Triple Talaq as illegal, unconstitutional and made it punishable act from 1 August 2019 which is deemed to be in effect from 19 September 2018. On 5 August 2019, the government moved resolution to scrap Article 370 in the Rajya Sabha, and also reorganise the state with Jammu and Kashmir serving as one of the union territory and Ladakh region separated out as a separate union territory. Under Modi's tenure, India has experienced democratic backsliding.[f] According to one study, "The BJP government incrementally but systemically attacked nearly all existing mechanisms that are in place to hold the political executive to account, either by ensuring that these mechanisms became subservient to the political executive or were captured by party loyalists." Scholars also point to how he Modi government has used state power to intimidate and stifle critics in the media and academia, thus undermining freedom of expression and alternative sources of information.
 
Economic policy
 
 
 
Modi with other BRICS leaders in 2019. Left to right: Xi, Putin, Bolsonaro, Modi and Ramaphosa.

The economic policies of Modi's government focused on privatisation and liberalisation of the economy, based on a neoliberal framework. Modi liberalised India's foreign direct investment policies,allowing more foreign investment in several industries, including in defence and the railways.Other proposed reforms included making it harder for workers to form unions and easier for employers to hire and fire them;  some of these proposals were dropped after protests. The reforms drew strong opposition from unions: on 2 September 2015, eleven of the country's largest unions went on strike, including one affiliated with the BJP. The Bharatiya Mazdoor Sangh, a constituent of the Sangh Parivar, stated that the underlying motivation of labour reforms favoured corporations over labourers. The funds dedicated to poverty reduction programmes and social welfare measures were greatly decreased by the Modi administration. The money spent on social programmes declined from 14.6% of GDP during the Congress government to 12.6% during Modi's first year in office. Spending on health and family welfare declined by 15%, and on primary and secondary education by 16%. The budgetary allocation for the Sarva Shiksha Abhiyan, or the "education for all" programme, declined by 22%. The government also lowered corporate taxes, abolished the wealth tax, increased sales taxes, and reduced customs duties on gold, and jewellery. In October 2014, the Modi government deregulated diesel prices. In September 2014, Modi introduced the Make in India initiative to encourage foreign companies to manufacture products in India, with the goal of turning the country into a global manufacturing hub. Supporters of economic liberalisation supported the initiative, while critics argued it would allow foreign corporations to capture a greater share of the Indian market. Modi's administration passed a land-reform bill that allowed it to acquire private agricultural land without conducting a social impact assessment, and without the consent of the farmers who owned it. The bill was passed via an executive order after it faced opposition in parliament, but was eventually allowed to lapse  Modi's government put in place the Goods and Services Tax, the biggest tax reform in the country since independence. It subsumed around 17 different taxes and became effective from 1 July 2017. In his first cabinet decision, Modi set up a team to investigate black money.  On 9 November 2016, the government demonetised 500 and 1000 banknotes, with the stated intention of curbing corruption, black money, the use of counterfeit currency, and terrorism. The move led to severe cash shortages, a steep decline in the Indian stock indices BSE SENSEX and NIFTY 50, and sparked widespread protests throughout the country.Several deaths were linked to the rush to exchange cash. In the subsequent year, the number of income tax returns filed for individuals rose by 25%, and the number of digital transactions increased steeply. Over the first four years of Modi's premiership, India's GDP grew at an average rate of 7.23%, higher than the rate of 6.39% under the previous government. The level of income inequality increased, while an internal government report said that in 2017, unemployment had increased to its highest level in 45 years. The loss of jobs was attributed to the 2016 demonetisation, and to the effects of the Goods and Services Tax. In the next year, after 2018, Indian economy started a gradual recovery with a GDP growth of 6.12% in 2018-19 FY, with an inflation rate of 3.4%.  Same year, India was successful in making a good economy in trade and manufacturing sector. While in the FY of 2019–20, due to the general election, Modi government focused more on their election campaign. In the year 2019–20, the GDP growth rate was 4.18% and inflation rate also increased to 4.7% from 3.4% in the previous year. Though being high unemployment, increase in inflation rate and budget deficiency, Modi's leadership won in 2019 elections. Due to the COVID-19 pandemic, numerous rating agencies downgraded India's GDP predictions for FY21 to negative figures,signalling a recession in India, the most severe since 1979.  According to a Dun & Bradstreet report, the country is likely to suffer a recession in the third quarter of FY2020 as a result of the over 2-month long nation-wide lockdown imposed to curb the spread of COVID-19.  This was also accompanied by the mass migration of migrant workers.

Health and sanitation
See also: Swachh Bharat Mission


In his first year as prime minister, Modi reduced the amount of money spent by the central government on healthcare. The Modi government launched New Health Policy (NHP) in January 2015. The policy did not increase the government's spending on healthcare, instead emphasising the role of private healthcare organisations. This represented a shift away from the policy of the previous Congress government, which had supported programmes to assist public health goals, including reducing child and maternal mortality rates The National Health Mission, which included public health programmes targeted at these indices received nearly 20%  less funds in 2015 than in the previous year. 15 national health programmes, including those aimed at controlling tobacco use and supporting healthcare for the elderly, were merged with the National Health Mission. In its budget for the second year after it took office, the Modi government reduced healthcare spending by 15%.  The healthcare budget for the following year rose by 19%. The budget was viewed positively by private insurance providers. Public health experts criticised its emphasis on the role of private healthcare providers, and suggested that it represented a shift away from public health facilities. The healthcare budget rose by 11.5% in 2018; the change included an allocation of 2000 crore for a government-funded health insurance program, and a decrease in the budget of the National Health Mission. The government introduced stricter packaging laws for tobacco which requires 85% of the packet size to be covered by pictorial warnings. An article in the medical journal Lancet stated that the country "might have taken a few steps back in public health" under Modi.  In 2018 Modi launched the Ayushman Bharat Yojana, a government health insurance scheme intended to insure 500 million people. 100,000 people had signed up by October 2018. Modi emphasised his government's efforts at sanitation as a means of ensuring good health. On 2 October 2014, Modi launched the Swachh Bharat Mission ("Clean India") campaign. The stated goals of the campaign included eliminating open defecation and manual scavenging within five years As part of the programme, the Indian government began constructing millions of toilets in rural areas and encouraging people to use them. The government also announced plans to build new sewage treatment plants.  The administration plans to construct 60 million toilets by 2019. The construction projects have faced allegations of corruption, and have faced severe difficulty in getting people to use the toilets constructed for them. Sanitation cover in the country increased from 38.7% in October 2014 to 84.1% in May 2018; however, usage of the new sanitary facilities lagged behind the government's targets  In 2018, the World Health Organization stated that at least 180,000 diarrhoeal deaths were averted in rural India after the launch of the sanitation effort.

Hindutva

 
 
Modi pays obeisance at Tirumala Temple in Andhra Pradesh

During the 2014 election campaign, the BJP sought to identify itself with political leaders known to have opposed Hindu nationalism, including B. R. Ambedkar, Subhas Chandra Bose, and Ram Manohar Lohia. The campaign also saw the use of rhetoric based on Hindutva by BJP leaders in certain states. Communal tensions were played upon especially in Uttar Pradesh and the states of Northeast India. A proposal for the controversial Uniform Civil Code was a part of the BJP's election manifesto. The activities of a number of Hindu nationalist organisations increased in scope after Modi's election as Prime Minister, sometimes with the support of the government. These activities included a Hindu religious conversion programme, a campaign against the alleged Islamic practice of "Love Jihad", and attempts to celebrate Nathuram Godse, the assassin of Mahatma Gandhi, by members of the right wing Hindu Mahasabha. Officials in the government, including the Home Minister, defended the conversion programmes. Links between the BJP and the RSS grew stronger under Modi. The RSS provided organisational support to the BJP's electoral campaigns, while the Modi administration appointed a number of individuals affiliated with the RSS to prominent government positions. In 2014, Yellapragada Sudershan Rao, who had previously been associated with the RSS, became the chairperson of the Indian Council of Historical Research (ICHR). Historians and former members of the ICHR, including those sympathetic to the BJP, questioned his credentials as a historian, and stated that the appointment was part of an agenda of cultural nationalism. The North East Delhi riots, which left more than 40 dead and hundreds injured, were triggered by protests against a citizenship law seen by many critics as anti-Muslim and part of Modi's Hindu nationalist agenda. On 5 August 2020, Modi visited Ayodhya after the Supreme Court in 2019 ordered a contested land in Ayodhya to be handed over to a trust to build the Hindu temple and ordered the government to give alternate 5 acre land to Sunni Waqf Board for the purpose of building a mosque. He became the first prime minister to visit Ram Janmabhoomi and Hanuman Garhi.

 
 Foreign policy of Narendra Modi and trips as prime minister

Foreign policy played a relatively small role in Modi's election campaign, and did not feature prominently in the BJP's election manifesto.  Modi invited all the other leaders of SAARC countries to his swearing in ceremony as prime minister.He was the first Indian prime minister to do so. 
 
 
 
Modi with U.S. President Donald Trump at Namaste Trump rally in Ahmedabad, India
 
Modi meeting Myanmar's leader Aung San Suu Kyi in New Delhi in January 2018 Modi's foreign policy, similarly to that of the preceding INC government, focused on improving economic ties, security, and regional relations.  Modi continued Manmohan Singh's policy of "multi-alignment."  The Modi administration tried to attract foreign investment in the Indian economy from several sources, especially in East Asia, with the use of slogans such as "Make in India" and "Digital India". The government also tried to improve relations with Islamic nations in the Middle East, such as Bahrain, Iran, Saudi Arabia, and the United Arab Emirates, as well as with Israel. The foreign relations of India with the USA also mended after Narendra Modi became the Prime Minister.  During the run-up to the general election there was wide-ranging scepticism regarding future of the strategic bilateral relation under Modi's premiership as in 2005 he was, while Chief Minister of Gujarat, denied a U.S. visa during the Bush administration for his alleged poor human  rights records.  However sensing Modi's inevitable victory well before the election, the US Ambassador Nancy Powell had reached out to him as part of greater rapprochement from the west. Moreover, following his 2014 election as the Prime Minister of India President Obama congratulated him over the telephone and invited him to visit the US. Modi government has been successful in making good foreign relations with the USA in the presidency of both Barack Obama and Donald Trump. During the first few months after the election, Modi made trips to a number of different countries to further the goals of his policy, and attended the BRICS, ASEAN, and G20 summits. One of Modi's first visits as prime minister was to Nepal, during which he promised a billion USD in aid. Modi also made several overtures to the United States, including multiple visits to that country. While this was described as an unexpected development, due to the US having previously denied Modi a travel visa over his role during the 2002 Gujarat riots, it was also expected to strengthen diplomatic and trade relations between the two countries. In 2015, the Indian parliament ratified a land exchange deal with Bangladesh about the India–Bangladesh enclaves, which had been initiated by the government of Manmohan Singh. Modi's administration gave renewed attention to India's "Look East Policy", instituted in 1991. The policy was renamed the "Act East Policy", and involved directing Indian foreign policy towards East Asia and Southeast Asia. The government signed agreements to improve land connectivity with Myanmar, through the state of Manipur. This represented a break with India's historic engagement with Myanmar, which prioritised border security over trade. China–India relations have deteriorated rapidly following the 2020 China–India skirmishes. Modi has pledged aid of $900 million to Afghanistan, visited the nation twice and been honoured with the nation's highest civilian honour in 2016.

Defence policy
 
 
 
Prime Minister Modi celebrating Diwali with the Indian Army force in Jaisalmer, Rajasthan on 14 November 2020.

India's nominal military spending increased steadily under Modi. The military budget declined over Modi's tenure both as a fraction of GDP and when adjusted for inflation. A substantial portion of the military budget was devoted to personnel costs, leading commentators to write that the budget was constraining Indian military modernisation.The BJP election manifesto had also promised to deal with illegal immigration into India in the Northeast, as well as to be more firm in its handling of insurgent groups. The Modi government issued a notification allowing Hindu, Sikh, and Buddhist illegal immigrants from Pakistan and Bangladesh to legalise their residency in India. The government described the measure as being taken for humanitarian reasons but it drew criticism from several Assamese organisations.The Modi administration negotiated a peace agreement with the largest faction of the National Socialist Council of Nagaland (NSCM), which was announced in August 2015. The Naga insurgency in northeast India had begun in the 1950s.The NSCM and the government had agreed to a ceasefire in 1997, but a peace accord had not previously been signed. In 2015 the government abrogated a 15-year ceasefire with the Khaplang faction of the NSCM (NSCM-K). The NSCM-K responded with a series of attacks, which killed 18 people. The Modi government carried out a raid across the border with Myanmar as a result, and labelled the NSCM-K a terrorist organisation. Modi promised to be "tough on Pakistan" during his election campaign, and repeatedly stated that Pakistan was an exporter of terrorism. On 29 September 2016, the Indian Army stated that it had conducted a surgical strike on terror launch pads in Azad Kashmir. The Indian media claimed that up to 50 terrorists and Pakistani soldiers had been killed in the strike. Pakistan initially denied that any strikes had taken place. Subsequent reports suggested that Indian claim about the scope of the strike and the number of casualties had been exaggerated, although cross-border strikes had been carried out In February 2019 India carried out airstrikes in Pakistan against a supposed terrorist camp. Further military skirmishes followed, including cross-border shelling and the loss of an Indian aircraft Following his victory in 2019 Lok Sabha elections, he focused more on Defence policies of India, especially against China and Pakistan. On 5 May 2020, Chinese and Indian troops engaged in aggressive melee, face-offs and skirmishes at locations along the Sino-Indian border, including near the disputed Pangong Lake in Ladakh and the Tibet Autonomous Region, and near the border between Sikkim and the Tibet Autonomous Region. Additional clashes also took place at locations in eastern Ladakh along the Line of Actual Control (LAC). After which there was start of skirmishes between the nations leading to many border clashes, responses and reactions from both sides. A series of talks were also held between the two by both military and diplomatic means for peace. The first border clash reported in 2021 was on 20 January, referred to as a minor border clash in Sikkim.

Environmental policy

In naming his cabinet, Modi renamed the "Ministry of Environment and Forests" the "Ministry of Environment, Forests, and Climate Change." In the first budget of the government, the money allotted to this ministry was reduced by more than 50%. The new ministry also removed or diluted a number of laws related to environmental protection. These included no longer requiring clearance from the National Board for Wildlife for projects close to protected areas, and allowing certain projects to proceed before environmental clearance was received. The government also tried to reconstitute the Wildlife board such that it no longer had representatives from non-governmental organisations: however, this move was prevented by the Supreme Court. During his premiership various government initiatives were taken to protect endangered wildlife species like tigers, elephants and dolphins. Modi in November 2015 launched the Modi also relaxed or abolished a number of other environmental regulations, particularly those related to industrial activity. A government committee stated that the existing system only served to create corruption, and that the government should instead rely on the owners of industries to voluntarily inform the government about the pollution they were creating. Other changes included reducing ministry oversight on small mining projects, and no longer requiring approval from tribal councils for projects inside forested areas. In addition, Modi lifted a moratorium on new industrial activity in the most polluted areas in the countries. The changes were welcomed by businesspeople, but criticised by environmentalists. Under the UPA government that preceded Modi's administration, field trials of Genetically Modified (GM) crops had essentially been put on hold, after protests from farmers fearing for their livelihoods. Under the Modi government these restrictions were gradually lifted. The government received some criticism for freezing the bank accounts of environmental group Greenpeace, citing financial irregularities, although a leaked government report said that the freeze had to do with Greenpeace's opposition to GM crops.

Democratic backsliding

Under Modi's tenure, India has experienced democratic backsliding. According to one study, "The BJP government incrementally but systemically attacked nearly all existing mechanisms that are in place to hold the political executive to account, either by ensuring that these mechanisms became subservient to the political executive or were captured by party loyalists."Scholars also point to how the Modi government has used state power to intimidate and stifle critics in the media and academia, thus undermining freedom of expression and alternative sources of information.  
 
Personal life

In accordance with Ghanchi tradition, Modi's marriage was arranged by his parents when he was a child. He was engaged at age 13 to Jashodaben Modi, marrying her when he was 18. They spent little time together and grew apart when Modi began two years of travel, including visits to Hindu ashrams. Reportedly, their marriage was never consummated, and he kept it a secret because otherwise he could not have become a 'pracharak' in the puritan Rashtriya Swayamsevak Sangh. Modi kept his marriage secret for most of his career. He acknowledged his wife for the first time when he filed his nomination for the 2014 general elections .Modi maintains a close relationship with his mother, Hiraben. Modi at Yoga Day celebrations in New Delhi, 21 June 2015.
 
 
 
Modi at Yoga Day celebrations in New Delhi, 21 June 2015
 
A vegetarian and teetotaler, Modi has a frugal lifestyle and is a workaholic and introvert. Modi's 31 August 2012 post on Google Hangouts made him the first Indian politician to interact with citizens on a live chat.  Modi has also been called a fashion-icon for his signature crisply ironed, half-sleeved kurta, as well as for a suit with his name embroidered repeatedly in the pinstripes that he wore during a state visit by US President Barack Obama, which drew public and media attention and criticism. Modi's personality has been variously described by scholars and biographers as energetic, arrogant, and charismatic.He had published a Gujarati book titled Jyotipunj in 2008, containing profiles of various RSS leaders. The longest was of M. S. Golwalkar, under whose leadership the RSS expanded and whom Modi refers to as Pujniya Shri Guruji ("Guru worthy of worship"). According to The Economic Times, his intention was to explain the workings of the RSS to his readers and to reassure RSS members that he remained ideologically aligned with them. Modi authored eight other books, mostly containing short stories for children. The nomination of Modi for the prime ministership drew attention to his reputation as "one of contemporary India's most controversial and divisive politicians." During the 2014 election campaign the BJP projected an image of Modi as a strong, masculine leader, who would be able to take difficult decisions .Campaigns in which he has participated have focused on Modi as an individual, in a manner unusual for the BJP and RSS. Modi has relied upon his reputation as a politician able to bring about economic growth and "development". Nonetheless, his role in the 2002 Gujarat riots continues to attract criticism and controversy. Modi's hardline Hindutva philosophy and the policies adopted by his government continue to draw criticism, and have been seen as evidence of a majoritarian and exclusionary social agenda. In March 2021, Modi received his first COVID-19 vaccine dose at the All India Institute of Medical Sciences, New Delhi.

Opinion polling on the Narendra Modi premiership

As a Prime Minister, Modi has received consistently high approval ratings; at the end of his first year in office, he received an overall approval rating of 87% in a Pew Research poll, with 68% of people rating him "very favorably" and 93% approving of his government. His approval rating remained largely consistent at around 74% through his second year in office, according to a nationwide poll conducted by instaVaani.  At the end of his second year in office, an updated Pew Research poll showed Modi continued to receive high overall approval ratings of 81%, with 57% of those polled rating him "very favorably." At the end of his third year in office, a further Pew Research poll showed Modi with an overall approval rating of 88%, his highest yet, with 69% of people polled rating him "very favorably." A poll conducted by The Times of India in May 2017 showed 77% of the respondents rated Modi as "very good" and "good". In early 2017, a survey from Pew Research Center showed Modi to be the most popular figure in Indian politics. n a weekly analysis by Morning Consult called the Global Leader Approval Rating Tracker, Modi had the highest net approval rating as of 22 December 2020 of all government leaders in the 13 countries being tracked

Awards and recognition

In March 2012 and June 2014, Modi appeared on the cover of the Asian edition of Time Magazine, one of the few Indian politicians to have done so.  He was awarded Indian of the Year by CNN-News18 (formally CNN-IBN) news network in 2014. In June 2015, Modi was featured on the cover of Time Magazine. In 2014, 2015, 2017 and 2020, he was named one of Time magazine's 100 Most Influential People in the World. Forbes Magazine ranked him the 15th Most Powerful Person in the World in 2014 and the 9th Most Powerful Person in the World in 2015, 2016 and 2018.  In 2015, Modi was ranked the 13th Most Influential Person in the World by Bloomberg Markets Magazine. Modi was ranked fifth on Fortune Magazine's first annual list of the "World's Greatest Leaders" in 2015  In 2017, Gallup International Association (GIA) conducted a poll and ranked Modi as third top leader of the world. In 2016, a wax statue of Modi was unveiled at Madame Tussauds wax museum in London. In 2015 he was named one of Time's "30 Most Influential People on the Internet" as the second-most-followed politician on Twitter and Facebook  In 2018 he was the third most followed world leader on Twitter, and the most followed world leader on Facebook and Instagram. In October 2018, Modi received United Nations's highest environmental award, the 'Champions of the Earth', for policy leadership by "pioneering work in championing" the International Solar Alliance and "new areas of levels of cooperation on environmental action".  He was conferred the 2018 Seoul Peace Prize in recognition of "his dedication to improving international co-operation, raising global economic growth, accelerating the Human Development of the people of India by fostering economic growth and furthering the development of democracy through anti-corruption and social integration efforts". He is the first Indian to win the award. Following his second swearing-in ceremony as Prime Minister of India, a picture of Modi was displayed on the facade of the ADNOC building in Abu Dhabi, United Arab Emirates.  Premiered on 12 August 2019, Modi appeared in a special episode of Discovery Channel's show Man vs Wild with the host Bear Grylls, becoming the second world leader after Barack Obama to appear in the adventure/survival show. In the show he trekked the jungles and talked about nature and wildlife conservation with Grylls. The episode was shot in Jim Corbett National Park, Uttarakhand and was broadcast in 180 countries along India. The Texas India Forum hosted a community event in honour of Modi on 22 September 2019 at the NRG Stadium in Houston, Texas. The event was attended by over 50,000 people and several American politicians including President Donald Trump, making it the largest gathering for an invited foreign leader visiting the United States other than the Pope. At the same event, Modi was presented with the Key to the City of Houston by Mayor Sylvester Turner .He was awarded the Global Goalkeeper Award on 24 September 2019 in New York City by the Bill & Melinda Gates Foundation in recognition for the Swachh Bharat Mission and "the progress India has made in providing safe sanitation under his leadership". In 2020, Modi was among eight world leaders awarded the parodic Ig Nobel Prize in Medical Education "for using the COVID-19 viral pandemic to teach the world that politicians can have a more immediate effect on life and death than scientists and doctors can" On 21 December 2020, President Donald Trump awarded Modi with the Legion of Merit for elevating the India–United States relations. The Legion of Merit was awarded to Modi along with Prime Minister of Australia Scott Morrison and former Prime Minister of Japan Shinzo Abe, the "original architects" of the QUAD. On 24 February 2021, the largest cricket stadium in the world at Ahmedabad was renamed Narendra Modi Stadium by the Gujarat Cricket Association. 

Monday 7 June 2021

CAR THAT RUN ON WATER INSTED PATROL MADE BY RAEES MOHAMMAD MAKRANI

 water car

 
 
Considering the inflation of petrol, diesel and gas, everyone used to imagine a water powered car. Both nature and humans were troubled by the fumes of a car running on petrol and diesel. Cars running on petrol and diesel were also spoiling the eco system. In such a situation, if a water-powered car is made, it will be in the interest of nature and it will also be in the interest of mankind. This imagination of the people has been shown by a person. And the formula for a water-powered car was discovered. This water-powered car has been made by Mohammad Makrani, 44, a resident of Madhya Pradesh. Who is a mechanic by profession and is only 12th pass. The feat that Rais Makrani has done without doing any mechanical studies. He has also patented for this water-powered car made by Mohammad Makrani.

12th pass mechanic who made water car

This water-powered car has been made by Mohammad Makrani, 44, a resident of Madhya Pradesh. Makrani works as a mechanic and is only 12th pass, he does not have any mechanic degree, only then he invented the water-powered car.
 

Makrani's invention was also praised in social media

Even without any mechanic studies, the invention that Rais Makrani showed was praised in social media, the video of a water-powered car went viral on social media, viewed more than three lakh times on Facebook and shared more than 6000 times Apart from this, the water-driven video of Makrani has also received 5000 likes and thousands of comments.

Chinese company also offered

Mohammed Rais Makrani had gone to China to complete his invention, the Chinese scientists called the formula of Raees eligible.His MD Sumalson asked Mohammad Rais to work on this formula, according to Raees, he expressed his desire to prepare and launch this formula by staying in his country and village. Raees has also patterned his own formula.This Indian refused the offer of a foreign company in the dedication of his patriotism and doing something for the country.

Sunday 6 June 2021

DO YOU KNOW WHO CREATED HOTMAIL, WHO IS THE FOUNDER OF HOTMAIL?

 Sabeer Bhatia
Indian-American businessman

Sabeer Bhatia (born 30 December 1968) is an Indian-American businessman who co-founded the webmail company Hotmail.com.Bhatia has a net worth of USD 200 million. Sabeer Bhatia was born in a Sindhi family in Chennai, India. The mother, Daman Bhatia, who was drafted into the army as a seed in the army and later joined the Indian defence, was posted as an elderly officer in the Central Bank of India. at St. Joseph's High School.In 1986, he began his undergraduate studies at Birla Institute of Technology and Science (BITS) in Pilani and after two years transferred to California Institute of Technology (Caltech). After graduating from Caltech, in 1989 Sabeer went to Stanford University to pursue an MS in electrical engineering. At Stanford, he worked on the ultra low power VLSI design.At Stanford, he was inspired by entrepreneurs like Steve Jobs and Scott McNeely and decided to be like them. After Masters Ph.D. Instead, he decided to join Apple.

Career 

Bhatia briefly worked for Apple Computer (as a hardware engineer) and Firepower Systems Inc. He, along with his colleague Jack Smith, set up Hotmail on 4 July 1996, American Independence Day, symbolizing "freedom" from ISP-based e-mail and the ability to access a user's inbox from anywhere in the world.  As President and CEO, Bhatia led Hotmail until its eventual acquisition by Microsoft in 1998 for an estimated $400 million. Bhatia worked at Microsoft for one year after the Hotmail acquisition and in April 1999, left Microsoft to start another venture, Arzoo Inc, an e-commerce firm with Investment from Mohammed Asif, a top Indian-American banker at JP Morgan. Bhatia started a free messaging service called JaxtrSMS. He said that JaxtrSMS would do to SMS what Hotmail did for e-mail. Claiming it to be a disruptive technology, he says that the operators will lose revenue on the reduction in number of SMSes on their network but will benefit from the data plan that the user has to buy. To date, JaxtrSMS service has failed to replicate the success of Hotmail. Recently he invested in email collaboration software, ccZen and another e-commerce technology provider E-junkie.

Founder of hotmail 

Sabeer Bhatia started with a company called Firepower Systems Inc, where he spent two years. In 1994, Sabeer started working on new ideas for the Internet, and he worked closely with Jack Smith, a colleague at Apple Computer, Inc. Both of Javasoft came up with the concept of a web-based database. Whereas after following up on this idea,He perfected the potential of a web-based e-mail system and then decided to create a Hotmail (the uppercase letters were spelled HTML - the language used to write the basis of a webpage). To attract attention, the e-mail service was provided free of charge and revenue was generated through advertising on the website. Draper Fisher Ventures invested $300,000 on the project and the service was launched on July 4, 1996. Within six months, the website attracted over one million customers.As the number of web-based email providers began to grow, Microsoft noticed it as a result, and on December 30, 1997 (Bhatia's 29th birthday), Hotmail was sold to Microsoft for a reported sum of $400 million. He attributed this to the facilitation of the entrepreneurial environment in the United States. In an interview, he criticized the Indian government, saying that "they haven't been able to do Hotmail in India yet".

Personal life 

Bhatia is of Punjabi heritage.His father, Baldev Bhatia, was a captain in the Indian Army and his mother worked for the Central Bank of India. Sabeer married Tanya Sharma in 2008 and they have a daughter together. Later, they filed for divorce in January 2013 in a court in San Francisco, citing "irreconcilable differences". 

Other undertakings 

After selling Hotmail, Bhatia worked for a year at Microsoft in April 1999, leaving the company to start another website, Arzoo Inc. which was closed after the bursting of the dot-com bubble. In 2010, he relaunched Arzoo as a travel portal. He started a website, BlogEverywhere (with co-founders Shiraz Kanga and Viraf Jack), a website that attempted to capitalize on the emerging blogosphere.In 2006, he became an angel investor in NeoExel, a network security vendor and creator of SSL VPN-Plus. In November 2007, they released an online alternative to Microsoft Office called Live Documents. The application allows users to access, edit their documents both offline and online, collaborate and share documents with others in real-time, and sync documents between different computers and users.Users can also download Microsoft Office plug-in which also allows them full compatibility for Office document formats with the best offline and online office suites. He also laid great emphasis on providing internet access through cable TV to Indian homes. In January 2008, Sabeer announced the launch of his latest venture SabSeBolo.com (SabSeBolo.com), a free Web-based teleconferencing system.On June 14, 2009, Sabbir Bhatia's subsidiaries acquired Jaxter, an Internet telephone service startup, for a secret amount. Jaxter will stick to its brand name and support Sabsebolo's vast userbase.They have plans to develop a new city named Nanocity in India in future. NanoCity aims to replicate the vibrancy and innovation of ecosystems found in Silicon Valley.

Some of the awards received by Sabeer Bhatia are as follows :

  • “Entrepreneur of the Year,” by the venture capital firm Draper Fisher Jurvetson (1998). 
  • Recipient of the TR100 award, presented by MIT to 100 young innovators who have the greatest impact on technology.  
  • Named to the “Elite 100,” Upside magazine’s list of top trendsetters in the New Economy.  
  • Selected by the San Jose Mercury News and POV magazine as one of the ten most successful entrepreneurs of (1998). 
  • Named by TIME as one of the “People to Watch” in International Business (2002).

Saturday 5 June 2021

ONE OF THE WORLD'S MOST SUCCESSFUL INVESTORS WARREN BUFFETT

Warren Edward Buffett
 CEO of Berkshire Hathaway
 
Warren Edward Buffett was born on August 30, 1930, to his mother Leila and father Howard, a stockbroker-turned-Congressman.While other children his age were playing hopscotch and jacks, Warren was making money. Five years later, Buffett took his first step into the world of high finance.
 
Warren Edward Buffett 
 
born August 30, 1930 is an American investor, business tycoon, philanthropist, and the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of over $100.6 billion as of April 2021,making him the world's seventh-wealthiest person.Buffett was born in Omaha, Nebraska. He developed an interest in business and investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring to and graduating from the University of Nebraska at . He went on to graduate from Columbia Business School, where he molded his investment philosophy around the concept of value investing pioneered by Benjamin Graham. He attended New York Institute of Finance to focus his economics background and soon after began various business partnerships, including one with Graham. He created Buffett Partnership, Ltd in 1956 and his firm eventually acquired a textile manufacturing firm called Berkshire Hathaway, assuming its name to create a diversified holding company. In 1978, Charlie Munger joined Buffett as vice-chairman.Buffett has been the chairman and largest shareholder of Berkshire Hathaway since 1970. He has been referred to as the "Oracle" or "Sage" of Omaha by global media. He is noted for his adherence to value investing, and his personal frugality despite his immense wealth. Research published at the University of Oxford characterizes Buffett's investment methodology as falling within "founder centrism", defined by a deference to managers with a founder's mindset, an ethical disposition towards the shareholder collective, and an intense focus on exponential value creation. Essentially, Buffett's concentrated investments shelter managers from the short-term pressures of the market. Buffett is a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation. He founded The Giving Pledge in 2009 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes.
 
Early life and education

Buffett was born in 1930 in Omaha, Nebraska, the second of three children and the only son of Leila (née Stahl) and Congressman Howard Buffett. He began his education at Rose Hill Elementary School. In 1942, his father was elected to the first of four terms in the United States Congress, and after moving with his family to Washington, D.C., Warren finished elementary school, attended Alice Deal Junior High School and graduated from Woodrow Wilson High School in 1947, where his senior yearbook picture reads: "likes math; a future stockbroker." After finishing high school and finding success with his side entrepreneurial and investment ventures, Buffett wanted to skip college to go directly into business but was overruled by his father.Buffett displayed an interest in business and investing at a young age. He was inspired by a book he borrowed from the Omaha public library at age seven, One Thousand Ways to Make $1000  Much of Buffett's early childhood years were enlivened with entrepreneurial ventures. In one of his first business ventures, Buffett sold chewing gum, Coca-Cola bottles, and weekly magazines door to door. He worked in his grandfather's grocery store. While still in high school, he made money delivering newspapers, selling golf balls and stamps, and detailing cars, among other means. On his first income tax return in 1944, Buffett took a $35 deduction for the use of his bicycle and watch on his paper route. In 1945, as a high school sophomore, Buffett and a friend spent $25 to purchase a used pinball machine, which they placed in the local barber shop. Within months, they owned several machines in three different barber shops across Omaha. They sold the business later in the year for $1,200 to a war veteran. Buffett's interest in the stock market and investing dated to schoolboy days he spent in the customers' lounge of a regional stock brokerage near his father's own brokerage office. On a trip to New York City at age ten, he made a point to visit the New York Stock Exchange., he bought three shares of Cities Service Preferred for himself, and three for his sister Doris Buffett (who also became a philanthropist), Warren made more than $175 monthly delivering Washington Post newspapers. In high school, he invested in a business owned by his father and bought a 40-acre farm worked by a tenant farmer. He bought the land when he was 14 years old with $1,200 of his savings. By the time he finished college, Buffett had accumulated $9,800 in savings (about $107,000 today).In 1947, Buffett entered the Wharton School of the University of Pennsylvania. He would have preferred to focus on his business ventures, but his father pressured him to enroll.Warren studied there for two years and joined the Alpha Sigma Phi fraternity. He then transferred to the University of Nebraska where at, he graduated with a Bachelor of Science in Business Administration. After being rejected by Harvard Business School, Buffett enrolled at Columbia Business School of Columbia University upon learning that Benjamin Graham taught there. He earned a Master of Science in Economics from Columbia in 1951. After graduating, Buffett attended the New York Institute of Finance.
 

      The basic ideas of investing are to look at stocks as business, use the market's fluctuations to your advantage, and seek a margin of safety. That's what Ben Graham taught us. A hundred years from now they will still be the cornerstones of investing.
    — Warren Buffett 
 
Buffett's business career

Buffett worked from 1951 to 1954 at Buffett-Falk & Co. as an investment salesman; from 1954 to 1956 at Graham-Newman Corp. as a securities analyst; from 1956 to 1969 at Buffett Partnership, Ltd. as a general partner; and from 1970 as Chairman and CEO of Berkshire Hathaway Inc.In 1951,Buffett discovered that Graham was on the board of GEICO insurance. Taking a train to Washington, D.C. on a Saturday, he knocked on the door of GEICO's headquarters until a janitor admitted him. There he met Lorimer Davidson, GEICO's vice president, and the two discussed the insurance business for hours. Davidson would eventually become Buffett's lifelong friend and a lasting influence, and would later recall that he found Buffett to be an "extraordinary man" after only fifteen minutes. Buffett wanted to work on Wall Street but both his father and Ben Graham urged him not to. He offered to work for Graham for free, but Graham refused. Buffett returned to Omaha and worked as a stockbroker while taking a Dale Carnegie public speaking course.Using what he learned, he felt confident enough to teach an "Investment Principles" night class at the University of Nebraska-Omaha. The average age of his students was more than twice his own. During this time he also purchased a Sinclair gas station as a side investment but it was unsuccessful. In 1952,Buffett married Susan Thompson at Dundee Presbyterian Church. The next year they had their first child, Susan Alice. In 1954, Buffett accepted a job at Benjamin Graham's partnership. His starting salary was $12,000 a year (about $116,000 today).There he worked closely with Walter Schloss. Graham was a tough boss. He was adamant that stocks provide a wide margin of safety after weighing the trade-off between their price and their intrinsic value. That same year the Buffetts had their second child, Howard Graham. In 1956, Benjamin Graham retired and closed his partnership. At this time Buffett's personal savings were over $174,000 (about $1.66 million today) and he started Buffett Partnership Ltd. In 1957, Buffett operated three partnerships. He purchased a five-bedroom stucco house in Omaha, where he still lives, for $31,500. In 1958 the Buffetts' third child, Peter Andrew, was born. Buffett operated five partnerships that year. In 1959, the company grew to six partnerships and Buffett met future partner Charlie Munger. By 1960, Buffett operated seven partnerships. He asked one of his partners, a doctor, to find ten other doctors willing to invest $10,000 each in his partnership. Eventually, eleven agreed, and Buffett pooled their money with a mere $100 original investment of his own.

 
 
House in Dundee-Happy Hollow Historic District, in Omaha, Nebraska. District on NRHP since July 22, 2005. The district is roughly bounded by Hamilton on the north, JE George and Happy Hollow on the west, Leavenworth on the south, and 48th on the east, in Omaha. This particular house is widely reported to be the home of Warren Buffett, and forms part of his mystique, having bought it early in his career (1958 for $30,000?) and not moved. It has obviously been extensively renovated however, and is not typical of the somewhat smaller houses in the HD. In 1961, Buffett revealed that 35% of the partnership's assets were invested in the Sanborn Map Company. He explained that Sanborn stock sold for only $45 per share in 1958, but the company's investment portfolio was worth $65 per share. This meant that Sanborn's map business was being valued at "minus $20." Buffett eventually purchased 23% of the company's outstanding shares as an activist investor, obtaining a seat for himself on the Board of Directors, and allied with other dissatisfied shareholders to control 44% of the shares. To avoid a proxy fight, the Board offered to repurchase shares at fair value, paying with a portion of its investment portfolio. 77% of the outstanding shares were turned in. Buffett had obtained a 50% return on investment in just two years. 
 
Assuming Berkshire

In 1962, Buffett became a millionaire because of his partnerships, which in January 1962 had an excess of $7,178,500, of which over $1,025,000 belonged to Buffett. He merged these partnerships into one. Buffett invested in and eventually took control of a textile manufacturing firm, Berkshire Hathaway. He began buying shares in Berkshire from Seabury Stanton, the owner, whom he later fired. Buffett's partnerships began purchasing shares at $7.60 per share. In 1965, when Buffett's partnerships began purchasing Berkshire aggressively, they paid $14.86 per share while the company had working capital of $19 per share. This did not include the value of fixed assets (factory and equipment). Buffett took control of Berkshire Hathaway at a board meeting and named a new president, Ken Chace, to run the company. In 1966, Buffett closed the partnership to new money. He later claimed that the textile business had been his worst trade. He then moved the business into the insurance sector, and, in 1985, the last of the mills that had been the core business of Berkshire Hathaway was sold.In a second letter, Buffett announced his first investment in a private business — Hochschild, Kohn and Co, a privately owned Baltimore department store. In 1967, Berkshire paid out its first and only dividend of 10 cents. In 1969, Buffett liquidated the partnership and transferred their assets to his partners including shares of Berkshire Hathaway. In 1970, Buffett began writing his now-famous annual letters to shareholders. He lived solely on his salary of $50,000 per year and his outside investment income.In 1973, Berkshire began to acquire stock in the Washington Post Company. Buffett became close friends with Katharine Graham, who controlled the company and its flagship newspaper and joined its board. In 1974, the SEC opened a formal investigation into Buffett and Berkshire's acquisition of Wesco Financial, due to possible conflict of interest. No charges were brought. In 1977, Berkshire indirectly purchased the Buffalo Evening News for $32.5 million. Antitrust charges started, instigated by its rival, the Buffalo Courier-Express. Both papers lost money until the Courier-Express folded in 1982.In 1979, Berkshire began to acquire stock in ABC. Capital Cities announced a $3.5 billion purchase of ABC on March 18, 1985, surprising the media industry, as ABC was four times bigger than Capital Cities at the time. Buffett helped finance the deal in return for a 25% stake in the combined company. The newly merged company, known as Capital Cities/ABC (or CapCities/ABC), was forced to sell some stations due to U.S. Federal Communications Commission ownership rules. The two companies also owned several radio stations in the same markets.In 1987, Berkshire Hathaway purchased a 12% stake in Salomon Inc., making it the largest shareholder and Buffett a director. In 1990, a scandal involving John Gutfreund (former CEO of Salomon Brothers) surfaced. A rogue trader, Paul Mozer, was submitting bids in excess of what was allowed by Treasury rules. When this was brought to Gutfreund's attention, he did not immediately suspend the rogue trader. Gutfreund left the company in August 1991.Buffett became Chairman of Salomon until the crisis passed.In 1988, Buffett began buying The Coca-Cola Company stock, eventually purchasing up to 7% of the company for $1.02 billion.It would turn out to be one of Berkshire's most lucrative investments, and one which it still holds.

As a billionaire

Buffett became a billionaire when Berkshire Hathaway began selling class A shares on May 29, 1990, with the market closing at $7,175 a share. In 1998 he acquired General Re (Gen Re) as a subsidiary in a deal that presented difficulties—according to the Rational Walk investment website, "underwriting standards proved to be inadequate," while a "problematic derivatives book" was resolved after numerous years and a significant loss. Gen Re later provided reinsurance after Buffett became involved with Maurice R. Greenberg at AIG in 2002. During a 2005 investigation of an accounting fraud case involving AIG, Gen Re executives became implicated. On March 15, 2005, the AIG board forced Greenberg to resign from his post as chairman and CEO after New York state regulators claimed that AIG had engaged in questionable transactions and improper accounting. On February 9, 2006, AIG agreed to pay a $1.6 billion fine.In 2010, the U.S. government agreed to a $92 million settlement with Gen Re, allowing the Berkshire Hathaway subsidiary to avoid prosecution in the AIG case. Gen Re also made a commitment to implement "corporate governance concessions," which required Berkshire Hathaway's Chief Financial Officer to attend General Re's audit committee meetings and mandated the appointment of an independent director. In 2002, Buffett entered in $11 billion worth of forward contracts to deliver U.S. dollars against other currencies. By April 2006, his total gain on these contracts was over $2 billion. In 2006, Buffett announced in June that he gradually would give away 85% of his Berkshire holdings to five foundations in annual gifts of stock, starting in July 2006—the largest contribution would go to the Bill and Melinda Gates Foundation. In 2007, in a letter to shareholders, Buffett announced that he was looking for a younger successor, or perhaps successors, to run his investment business.
 
2007–08 financial crisis

Buffett ran into criticism during the subprime mortgage crisis of 2007 and 2008, part of the Great Recession starting in 2007, that he had allocated capital too early resulting in suboptimal deals."Buy American. I am." he wrote for an opinion piece published in the New York Times in 2008. Buffett called the downturn in the financial sector that started in 2007 "poetic justice". Buffett's Berkshire Hathaway suffered a 77% drop in earnings during Q3 2008 and several of his later deals suffered large mark-to-market losses.Berkshire Hathaway acquired 10% perpetual preferred stock of Goldman Sachs. Some of Buffett's put options (European exercise at expiry only) that he wrote (sold) were running at around $6.73 billion mark-to-market losses as of late 2008. The scale of the potential loss prompted the SEC to demand that Berkshire produce, "a more robust disclosure" of factors used to value the contracts. Buffett also helped Dow Chemical pay for its $18.8 billion takeover of Rohm & Haas. He thus became the single largest shareholder in the enlarged group with his Berkshire Hathaway, which provided $3 billion, underlining his instrumental role during the crisis in debt and equity markets.In 2008, Buffett became the richest person in the world, with a total net worth estimated at $62 billion by Forbes and at $58 billion[64] by Yahoo, overtaking Bill Gates, who had been number one on the Forbes list for 13 consecutive years. In 2009, Gates regained the top position on the Forbes list, with Buffett shifted to second place. Both of the men's values dropped, to $40 billion and $37 billion respectively—according to Forbes, Buffett lost $25 billion over a 12-month period during 2008/2009. In October 2008, the media reported that Buffett had agreed to buy General Electric (GE) preferred stock. The operation included special incentives: He received an option to buy three billion shares of GE stock, at $22.25, over the five years following the agreement, and Buffett also received a 10% dividend (callable within three years). In February 2009, Buffett sold some Procter & Gamble Co. and Johnson & Johnson shares from his personal portfolio. In addition to suggestions of mistiming, the wisdom in keeping some of Berkshire's major holdings, including The Coca-Cola Company, which in 1998 peaked at $86, raised questions. Buffett discussed the difficulties of knowing when to sell in the company's 2004 annual report:That may seem easy to do when one looks through an always-clean, rear-view mirror. Unfortunately, however, it's the windshield through which investors must peer, and that glass is invariably fogged.In March 2009, Buffett said in a cable television interview that the economy had "fallen off a cliff ... Not only has the economy slowed down a lot, but people have really changed their habits like I haven't seen". Additionally, Buffett feared that inflation levels that occurred in the 1970s—which led to years of painful stagflation—might re-emerge.

A capitalized Berkshire

On August 14, 2014, the price of Berkshire Hathaway's shares hit $200,000 a share for the first time, capitalizing the company at $328 billion. While Buffett had given away much of his stock to charities by this time, he still held 321,000 shares worth $64.2 billion. On August 20, 2014, Berkshire Hathaway was fined $896,000 for failing to report December 9, 2013, purchase of shares in USG Corporation as required.In 2009, Buffett invested $2.6 billion as a part of Swiss Re's campaign to raise equity capital. Berkshire Hathaway already owned a 3% stake, with rights to own more than 20%. Also in 2009, Buffett acquired Burlington Northern Santa Fe Corp. for $34 billion in cash and stock. Alice Schroeder, author of Snowball, said that a key reason for the purchase was to diversify Berkshire Hathaway from the financial industry.Measured by market capitalization in the Financial Times Global 500, Berkshire Hathaway was the eighteenth largest corporation in the world as of June 2009. In 2009, Buffett divested his failed investment in ConocoPhillips, saying to his Berkshire investors,I bought a large amount of ConocoPhillips stock when oil and gas prices were near their peak. I in no way anticipated the dramatic fall in energy prices that occurred in the last half of the year. I still believe the odds are good that oil sells far higher in the future than the current $40–$50 price. But so far I have been dead wrong. Even if prices should rise, moreover, the terrible timing of my purchase has cost Berkshire several billion dollars. The merger with the Burlington Northern Santa Fe Railway (BNSF) closed upon BNSF shareholder approval during Q1 of 2010. This deal was valued at approximately $44 billion (with $10 billion of outstanding BNSF debt) and represented an increase of the previously existing stake of 22%.In June 2010, Buffett defended the credit-rating agencies for their role in the US financial crisis, claiming: Very, very few people could appreciate the bubble. That's the nature of bubbles – they're mass delusions.On March 18, 2011, Goldman Sachs was given Federal Reserve approval to buy back Berkshire's preferred stock in Goldman. Buffett had been reluctant to give up the stock, which averaged $1.4 million in dividends per day,saying. I'm going to be the Osama bin Laden of capitalism. I'm on my way to an unknown destination in Asia where I'm going to look for a cave. If the U.S. Armed forces can't find Osama bin Laden in 10 years, let Goldman Sachs try to find me. In November 2011, it was announced that over the course of the previous eight months, Buffett had bought 64 million shares of International Business Machine Corp (IBM) stock, worth around $11 billion. This unanticipated investment raised his stake in the company to around 5.5 percent—the largest stake in IBM alongside that of State Street Global Advisors. Buffett had said on numerous prior occasions that he would not invest in technology because he did not fully understand it, so the move came as a surprise to many investors and observers. During the interview, in which he revealed the investment to the public, Buffett stated that he was impressed by the company's ability to retain corporate clients and said, "I don't know of any large company that really has been as specific on what they intend to do and how they intend to do it as IBM." In May 2012, Buffett's acquisition of Media General, consisting of 63 newspapers in the south-eastern U.S., was announced.The company was the second news print purchase made by Buffett in one year. Interim publisher James W. Hopson announced on July 18, 2013, that the Press of Atlantic City would be sold to Buffett's BH Media Group by ABARTA, a private holding company based in Pittsburgh, U.S. At the Berkshire shareholders meeting in May 2013, Buffett explained that he did not expect to "move the needle" at Berkshire with newspaper acquisitions, but he anticipates an annual return of 10 percent. The Press of Atlantic City became Berkshire's 30th daily newspaper, following other purchases such as Virginia, U.S.' Roanoke Times and The Tulsa World in Oklahoma, U.S. During a presentation to Georgetown University students in Washington, D.C. in late September 2013, Buffett compared the U.S. Federal Reserve to a hedge fund and stated that the bank is generating "$80 billion or $90 billion a year probably" in revenue for the U.S. government. Buffett also advocated further on the issue of wealth equality in society. We have learned to turn out lots of goods and services, but we haven't learned as well how to have everybody share in the bounty. The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind. After the difficulties of the economic crisis, Buffett managed to bring its company back to its pre-recession standards: in Q2 2014, Berkshire Hathaway made $6.4 billion in net profit, the most it had ever made in a three-month period. Investment philosophy Warren Buffett's writings include his annual reports and various articles. Buffett is recognized by communicators as a great story-teller, as evidenced by his annual letters to shareholders. He has warned about the pernicious effects of inflation:

    The arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enacted by our legislatures. The inflation tax has a fantastic ability to simply consume capital. It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation, or pays no income taxes during years of 5 percent inflation.

    — Buffett, Fortune (1977)


In his article, "The Superinvestors of Graham-and-Doddsville", Buffett rebutted the academic efficient-market hypothesis, that beating the S&P 500 was "pure chance", by highlighting the results achieved by a number of students of the Graham and Dodd value investing school of thought. In addition to himself, Buffett named Walter J. Schloss, Tom Knapp, Ed Anderson (Tweedy, Browne LLC), William J. Ruane (Sequoia Fund), Charlie Munger (Buffett's partner at Berkshire), Rick Guerin (Pacific Partners Ltd.), and Stan Perlmeter (Perlmeter Investments).In his November 1999 Fortune article, he warned of investors' unrealistic expectations:

    Let me summarize what I've been saying about the stock market: I think it's very hard to come up with a persuasive case that equities will over the next 17 years perform anything like—anything like—they've performed in the past 17. If I had to pick the most probable return, from appreciation and dividends combined, that investors in aggregate—repeat, aggregate—would earn in a world of constant interest rates, 2% inflation, and those ever hurtful frictional costs, it would be 6%!

    — Buffett, Fortune (1999)


Index funds vis-à-vis active management

Buffett has been a supporter of index funds for people who are either not interested in managing their own money or don't have the time. Buffett is skeptical that active management can outperform the market in the long run, and has advised both individual and institutional investors to move their money to low-cost index funds that track broad, diversified stock market indices. Buffett said in one of his letters to shareholders that "when trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients." In 2007, Buffett made a bet with numerous managers that a simple S&P 500 index fund will outperform hedge funds that charge exorbitant fees. By 2017, the index fund was outperforming every hedge fund that made the bet against Buffett.
 
Personal life

In 1949, Buffett was infatuated with a young woman whose boyfriend had a ukulele. In an attempt to compete, he bought one of the instruments and has been playing it ever since. Though the attempt was unsuccessful, his music interest was a key part of his becoming a part of Susan Thompson's life and led to their marriage. Buffett often plays the instrument at stockholder meetings and other opportunities. His love of the instrument led to the commissioning of two custom Dairy Queen ukuleles by Dave Talsma, one of which was auctioned for charity. Buffett married Susan Buffett (born Thompson) in 1952. They had three children, Susie, Howard and Peter. The couple began living separately in 1977, although they remained married until Susan Buffett's death in July 2004. Their daughter, Susie, lives in Omaha, is a national board member of Girls, Inc., and does charitable work through the Susan A. Buffett Foundation. In 2006, on his 76th birthday, Buffett married his longtime companion, Astrid Menks, who was then 60 years old—she had lived with him since his wife's departure to San Francisco in 1977. Susan had arranged for the two to meet before she left Omaha to pursue her singing career. All three were close and Christmas cards to friends were signed "Warren, Susie and Astrid".Susan briefly discussed this relationship in an interview on the Charlie Rose Show shortly before her death, in a rare glimpse into Buffett's personal life. Buffett disowned his son Peter's adopted daughter, Nicole, in 2006 after she participated in the Jamie Johnson documentary The One Percent about the growing economic inequality between the wealthy and the average citizen in the United States. Although his first wife referred to Nicole as one of her "adored grandchildren",Buffett wrote her a letter stating, "I have not emotionally or legally adopted you as a grandchild, nor have the rest of my family adopted you as a niece or a cousin." His 2006 annual salary was about $100,000, which is small compared to senior executive remuneration in comparable companies.In 2008, he earned a total compensation of $175,000, which included a base salary of just $100,000. He continued to live in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for $31,500, a fraction of today's value. He also owns a $4 million house in Laguna Beach, California. In 1989, after spending nearly $6.7 million of Berkshire's funds on a private jet, Buffett named it "The Indefensible". This act was a break from his past condemnation of extravagant purchases by other CEOs and his history of using more public transportation.

Bridge is such a sensational game that I wouldn't mind being in jail if I had three cellmates who were decent players and who were willing to keep the game going twenty-four hours a day.

—Buffett on bridge

Buffett is an avid bridge player, which he plays with fellow fan Gates—he allegedly spends 12 hours a week playing the game. In 2006, he sponsored a bridge match for the Buffett Cup. Modeled on the Ryder Cup in golf—held immediately before it in the same city—the teams are chosen by invitation, with a female team and five male teams provided by each country. He is a dedicated, lifelong follower of Nebraska football, and attends as many games as his schedule permits. He supported the hire of Bo Pelini, following the 2007 season, stating, "It was getting kind of desperate around here". He watched the 2009 game against Oklahoma from the Nebraska sideline, after being named an honorary assistant coach. Buffett worked with Christopher Webber on an animated series called "Secret Millionaires Club" with chief Andy Heyward of DiC Entertainment. The series features Buffett and Munger and teaches children healthy financial habits. Buffett was raised as a Presbyterian, but has since described himself as agnostic. In December 2006, it was reported that Buffett did not carry a mobile phone, did not have a computer at his desk, and drove his own automobile, a Cadillac DTS. In contrast to that, at the 2018 Berkshire Hathaway's shareholder meeting, he stated he uses Google as his preferred search engine. In 2013 he had an old Nokia flip phone and had sent one email in his entire life.In February 2020, Buffett revealed in a CNBC interview that he had traded in his flip phone for an iPhone 11. Buffett reads five newspapers every day, beginning with the Omaha World Herald, which his company acquired in 2011. Buffett's speeches are known for mixing business discussions with humor. Each year, Buffett presides over Berkshire Hathaway's annual shareholder meeting in the Qwest Center in Omaha, Nebraska, an event drawing over 20,000 visitors from both the United States and abroad, giving it the nickname "Woodstock of Capitalism". Berkshire's annual reports and letters to shareholders, prepared by Buffett, frequently receive coverage by the financial media. Buffett's writings are known for containing quotations from sources as varied as the Bible and Mae West, as well as advice in a folksy, Midwestern style and numerous jokes. In April 2017, Buffett (an avid Coca-Cola drinker and shareholder in the company) agreed to have his likeness placed on Cherry Coke products in China. Buffett was not compensated for this advertisemen
 
Personal life

In 1949, Buffett was infatuated with a young woman whose boyfriend had a ukulele. In an attempt to compete, he bought one of the instruments and has been playing it ever since. Though the attempt was unsuccessful, his music interest was a key part of his becoming a part of Susan Thompson's life and led to their marriage. Buffett often plays the instrument at stockholder meetings and other opportunities. His love of the instrument led to the commissioning of two custom Dairy Queen ukuleles by Dave Talsma, one of which was auctioned for charity. Buffett married Susan Buffett (born Thompson) in 1952. They had three children, Susie, Howard and Peter. The couple began living separately in 1977, although they remained married until Susan Buffett's death in July 2004. Their daughter, Susie, lives in Omaha, is a national board member of Girls, Inc., and does charitable work through the Susan A. Buffett Foundation. In 2006, on his 76th birthday, Buffett married his longtime companion, Astrid Menks, who was then 60 years old—she had lived with him since his wife's departure to San Francisco in 1977.Susan had arranged for the two to meet before she left Omaha to pursue her singing career. All three were close and Christmas cards to friends were signed "Warren, Susie and Astrid".Susan briefly discussed this relationship in an interview on the Charlie Rose Show shortly before her death, in a rare glimpse into Buffett's personal life. Buffett disowned his son Peter's adopted daughter, Nicole, in 2006 after she participated in the Jamie Johnson documentary The One Percent about the growing economic inequality between the wealthy and the average citizen in the United States. Although his first wife referred to Nicole as one of her "adored grandchildren", Buffett wrote her a letter stating, "I have not emotionally or legally adopted you as a grandchild, nor have the rest of my family adopted you as a niece or a cousin." His 2006 annual salary was about $100,000, which is small compared to senior executive remuneration in comparable companies. In 2008, he earned a total compensation of $175,000, which included a base salary of just $100,000. He continued to live in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for $31,500, a fraction of today's value. He also owns a $4 million house in Laguna Beach, California.In 1989, after spending nearly $6.7 million of Berkshire's funds on a private jet, Buffett named it "The Indefensible". This act was a break from his past condemnation of extravagant purchases by other CEOs and his history of using more public transportation. Buffett is an avid bridge player, which he plays with fellow fan Gates—he allegedly spends 12 hours a week playing the game. In 2006, he sponsored a bridge match for the Buffett Cup. Modeled on the Ryder Cup in golf—held immediately before it in the same city—the teams are chosen by invitation, with a female team and five male teams provided by each country.

Bridge is such a sensational game that I wouldn't mind being in jail if I had three cellmates who were decent players and who were willing to keep the game going twenty-four hours a day.

—Buffett on bridge


He is a dedicated, lifelong follower of Nebraska football, and attends as many games as his schedule permits. He supported the hire of Bo Pelini, following the 2007 season, stating, "It was getting kind of desperate around here". He watched the 2009 game against Oklahoma from the Nebraska sideline, after being named an honorary assistant coach.Buffett worked with Christopher Webber on an animated series called "Secret Millionaires Club" with chief Andy Heyward of DiC Entertainment. The series features Buffett and Munger and teaches children healthy financial habits. Buffett was raised as a Presbyterian, but has since described himself as agnostic. In December 2006, it was reported that Buffett did not carry a mobile phone, did not have a computer at his desk, and drove his own automobile, a Cadillac DTS. In contrast to that, at the 2018 Berkshire Hathaway's shareholder meeting, he stated he uses Google as his preferred search engine. In 2013 he had an old Nokia flip phone and had sent one email in his entire life.In February 2020, Buffett revealed in a CNBC interview that he had traded in his flip phone for an iPhone 11. Buffett reads five newspapers every day, beginning with the Omaha World Herald, which his company acquired in 2011.Buffett's speeches are known for mixing business discussions with humor. Each year, Buffett presides over Berkshire Hathaway's annual shareholder meeting in the Qwest Center in Omaha, Nebraska, an event drawing over 20,000 visitors from both the United States and abroad, giving it the nickname "Woodstock of Capitalism". Berkshire's annual reports and letters to shareholders, prepared by Buffett, frequently receive coverage by the financial media. Buffett's writings are known for containing quotations from sources as varied as the Bible and Mae West, as well as advice in a folksy, Midwestern style and numerous jokes. In April 2017, Buffett (an avid Coca-Cola drinker and shareholder in the company) agreed to have his likeness placed on Cherry Coke products in China. Buffett was not compensated for this advertisement.

Health
 
On April 11, 2012, Buffett was diagnosed with stage I prostate cancer during a routine test. He announced he would begin two months of daily radiation treatment from mid-July. In a letter to shareholders, Buffett said he felt "great – as if I were in my normal excellent health – and my energy level is 100 percent."On September 15, 2012, Buffett announced that he had completed the full 44-day radiation treatment cycle, saying "it's a great day for me" and "I am so glad to say that's over."  
 
Wealth and philanthropy

In 2008, Buffett was ranked by Forbes as the richest person in the world with an estimated net worth of approximately $62 billion. In 2009, after donating billions of dollars to charity, he was ranked as the second richest man in the United States with a net worth of $37 billion  with only Bill Gates ranked higher than Buffett. His net worth had risen to $58.5 billion as of September 2013.In 1999, Buffett was named the top money manager of the Twentieth Century in a survey by the Carson Group, ahead of Peter Lynch and John Templeton. In 2007, he was listed among Time's 100 Most Influential People in the world. In 2011, President Barack Obama awarded him the Presidential Medal of Freedom. Buffett, along with Bill Gates, was named the most influential global thinker in Foreign Policy's 2010 report. Buffett has written several times of his belief that, in a market economy, the rich earn outsized rewards for their talents. His children will not inherit a significant proportion of his wealth. He once commented, "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing". Buffett had long stated his intention to give away his fortune to charity, and in June 2006, he announced a new plan to give 83% of it to the Bill & Melinda Gates Foundation (BMGF).He pledged about the equivalent of 10 million Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation (worth approximately $30.7 billion as of June 23, 2006), making it the largest charitable donation in history, and Buffett one of the leaders of philanthrocapitalism. The foundation will receive 5% of the total each July, beginning in 2006. The pledge is conditional upon three requirements:

Bill or Melinda Gates must be alive and active in BMGF
BMGF must continue to qualify as a charity
Each year BMGF must give away an amount equal to the prior year's Berkshire gift plus the additional 5% of net assets as required of all US foundations

Buffett joined the Gates Foundation's board, but did not plan to be actively involved in the foundation's investments.This represented a significant shift from Buffett's previous statements, to the effect that most of his fortune would pass to his Buffett Foundation.The bulk of the estate of his wife, valued at $2.6 billion, went there when she died in 2004.He also pledged $50 million to the Nuclear Threat Initiative, in Washington, where he began serving as an adviser in 2002. In 2006, he auctioned his 2001 Lincoln Town Car[ on eBay to raise money for Girls, Inc. In 2007, he auctioned a luncheon with himself that raised a final bid of $650,100 for the Glide Foundation. Later auctions raised $2.1 million $1.7 million and $3.5 million. The winners traditionally dine with Buffett at New York's Smith and Wollensky steak house. The restaurant donates at least $10,000 to Glide each year to host the meal. In 2009, Ralph Nader wrote the book Only the Super Rich Can Save Us, a novel about "a movement of billionaires led by Warren Buffett and featuring, among others, Ted Turner, George Soros and Barry Diller, who use their fortunes to clean up America." On C-SPAN BookTV, Nader said Buffett invited him to breakfast after the book came out and was "quite intrigued by the book." He also told Nader of his plan to get "billionaires all over the world to donate 50% of their estate to charity or good works." On December 9, 2010, Buffett, Bill Gates, and Facebook CEO Mark Zuckerberg signed a promise they called the "Gates-Buffett Giving Pledge", in which they promise to donate to charity at least half of their wealth, and invite other wealthy people to follow suit. In 2018, after making almost $3.4 billion donations, Buffett was ranked 3rd in the Forbes' List of Billionaire 2018.Warren Buffett continues to help fund and support his family's individual foundations which include Susan Buffett's Susan Thompson Buffett Foundation, Susan Alice Buffett's Sherwood Foundation, Howard Graham Buffett's Howard G. Buffett Foundation, and Peter Buffett's NoVo Foundation. Warren Buffett was also supportive of his sister Doris Buffett's Letters Foundation and Learning By Giving Foundation.

Political and public policy views

In addition to political contributions over the years, Buffett endorsed and made campaign contributions to Barack Obama's presidential campaign. On July 2, 2008, Buffett attended a $28,500 per plate fundraiser for Obama's campaign in Chicago. Buffett intimated that John McCain's views on social justice were so far from his own that McCain would need a "lobotomy" for Buffett to change his endorsement. During the second 2008 U.S. presidential debate, McCain and Obama, after being asked first by presidential debate mediator Tom Brokaw, both mentioned Buffett as a possible future Secretary of the Treasury. Later, in the third and final presidential debate, Obama mentioned Buffett as a potential economic advisor. Buffett was also a financial advisor to Republican candidate Arnold Schwarzenegger during the 2003 California gubernatorial election. On December 16, 2015, Buffett endorsed Democratic candidate Hillary Clinton for president. On August 1, 2016, Buffett challenged Donald Trump to release his tax returns. On October 10, 2016, after a reference to him in the second presidential debate, Buffett released his own tax return. He said he had paid $1.85 million in federal income taxes in 2015 on an adjusted gross income of $11.6 million, meaning he had an effective federal income tax rate of around 16 percent. Buffett also said he had made more than $2.8 billion worth of donations last year. In response to Trump saying he was unable to release his tax information due to being under audit, Buffett said, "I have been audited by the IRS multiple times and am currently being audited. I have no problem in releasing my tax information while under audit. Neither would Mr. Trump — at least he would have no legal problem."Buffett has said he would judge President Donald Trump by his results on national safety, economic growth and economic participation when deciding if he would vote for him in the 2020 presidential election.

Health care

Buffett described the health care reform under President Barack Obama as insufficient to deal with the costs of health care in the US, though he supports its aim of expanding health insurance coverage. Buffett compared health care costs to a tapeworm, saying that they compromise US economic competitiveness by increasing manufacturing costs. Buffett thinks health care costs should head towards 13 to 14% of GDP. Buffett said "If you want the very best, I mean if you want to spend a million dollars to prolong your life 3 months in a coma or something then the US is probably the best", but he also said that other countries spend much less and receive much more in health care value (visits, hospital beds, doctors and nurses per capita). Buffett faults the incentives in the United States medical industry, that payers reimburse doctors for procedures (fee-for-service) leading to unnecessary care (overutilization), instead of paying for results. He cited Atul Gawande's 2009 article in the New Yorker as a useful consideration of US health care, with its documentation of unwarranted variation in Medicare expenditures between McAllen, Texas and El Paso, Texas.Buffett raised the problem of lobbying by the medical industry, saying that they are very focused on maintaining their income.

Curbing population growth

Buffett has been reported to have concerns about unchecked population growth. In 2009, he met with several other billionaires to discuss healthcare, education and slowing population growth. Called "The Good Club" by an insider, the billionaires had given away $45 billion to philanthropic causes and included well known names such as Oprah Winfrey, Michael Bloomberg and David Rockefeller, Jr.. The meeting has drawn criticism from some right-wing alarmists, with some fringe elements believing the group to be a part of a secret sterilization society.Buffett is a long time supporter of family planning. The Buffett Foundation has given over $1.5 billion to abortion research to include $427 million to Planned Parenthood.

Taxes
Buffett Rule-


File:President Obama Speaks on the Buffett Rule.webmPlay media
President Obama announcing the "Buffett Rule"

Buffett stated that he only paid 19 percent of his income for 2006 ($48.1 million) in total federal taxes (due to their source as dividends and capital gains), while his employees paid 33 percent of theirs, despite making much less money. "How can this be fair?" Buffett asked, regarding how little he pays in taxes compared to his employees. "How can this be right?" He also added, "There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning."After Donald Trump accused him of taking "massive deductions," Buffett countered, "I have copies of all 72 of my returns and none uses a carryforward."Buffett favors the inheritance tax, saying that repealing it would be like "choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics". In 2007, Buffett testified before the Senate and urged them to preserve the estate tax so as to avoid a plutocracy.Some critics argued that Buffett (through Berkshire Hathaway) has a personal interest in the continuation of the estate tax, since Berkshire Hathaway benefited from the estate tax in past business dealings and had developed and marketed insurance policies to protect policy holders against future estate tax payments. Buffett believes government should not be in the business of gambling, or legalizing casinos, calling it a tax on ignorance.

Dollar and gold

The trade deficit induced Buffett to enter the foreign currency market for the first time in 2002. He substantially reduced his stake in 2005 as changing interest rates increased the costs of holding currency contracts. Buffett remained bearish on the dollar, stating that he was looking to acquire companies with substantial foreign revenues. Buffett has been critical of gold as an investment, with his critique being based primarily on its non-productive nature. In a 1998 address at Harvard, Buffett said: It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head. In 1977, about stocks, gold, farmland and inflation, he stated: Stocks are probably still the best of all the poor alternatives in an era of inflation – at least they are if you buy in at appropriate prices.
 
China

Buffett invested in PetroChina Company Limited and in a rare move, posted a commentary on Berkshire Hathaway's website stating why he would not divest over its connection with the Sudanese civil war that caused Harvard to divest. He sold this stake soon afterwards, sparing him the billions of dollars he would have lost had he held on to the company in the midst of the steep drop in oil prices beginning in the summer of 2008. In October 2008, Buffett invested $230 million for 10% of battery maker BYD Company (SEHK: 1211), which runs a subsidiary of electric automobile manufacturer BYD Auto. In less than one year, the investment reaped over 500% return. In May 2018, BYD's shares had a substantial fall with a total net investment loss of $9 billion. This was Buffett's worst investment in China.

Tobacco

During the RJR Nabisco, Inc. hostile takeover fight in 1987, Buffett was quoted as telling John Gutfreund.

    I'll tell you why I like the cigarette business. It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty.
    — Buffett, quoted in Barbarians at the Gate: The Fall of RJR Nabisco

Speaking at Berkshire Hathaway Inc.'s 1994 annual meeting, Buffett said investments in tobacco are.

    fraught with questions that relate to societal attitudes and those of the present administration. I would not like to have a significant percentage of my net worth invested in tobacco businesses. The economy of the business may be fine, but that doesn't mean it has a bright future.
    — Buffett, Berkshire Hathaway annual meeting

Coal

In 2007, Buffett's PacifiCorp, a subsidiary of his MidAmerican Energy Company, canceled six proposed coal-fired power plants. These included Utah's Intermountain Power Project Unit 3, Jim Bridger Unit 5, and four proposed plants previously included in PacifiCorp's Integrated Resource Plan. The cancellations came in the wake of pressure from regulators and citizen groups.Renewable energy. Native American tribes and salmon fishermen sought to win support from Buffett for a proposal to remove four hydroelectric dams from the Klamath River owned by PacifiCorp which is a Berkshire Hathaway company. David Sokol responded on Buffett's behalf, stating that the FERC would decide the question.

Expensing of stock options

He has been a strong proponent of stock option expensing on corporate income statements. At the 2004 annual meeting, he lambasted a bill before the United States Congress that would consider only some company-issued stock options compensation as an expense, likening the bill to one that was almost passed by the Indiana House of Representatives to change the value of Pi from 3.14159 to 3.2 through legislative fiat. When a company gives something of value to its employees in return for their services, it is clearly a compensation expense. And if expenses don't belong in the earnings statement, where in the world do they belong?

Technology

In May 2012, Buffett said he had avoided buying stock in new social media companies such as Facebook and Google because it is hard to estimate future value. He also stated that initial public offering (IPO) of stock are almost always bad investments. Investors should be looking to companies that will have good value in ten years.

Bitcoin and cryptocurrencies

In an interview with CNBC in January 2018, Buffett said that the recent craze over Bitcoin and other cryptocurrencies won't end well, adding that "when it happens or how or anything else, I don't know." But he said he would not take a short position on bitcoin futures. In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.

Film and television

Aside from countless television appearances on various news programs, Buffett has appeared in numerous films and TV programs, both documentary, and fiction. Some film and television cameos he has made include; Wall Street: Money Never Sleeps, The Office (U.S.), All My Children, and Entourage. He has been a guest 10 times on Charlie Rose, and was the subject of the HBO documentary feature Becoming Warren Buffett (2017) and the BBC production The World's Greatest Money Maker (2009).  

Tuesday 1 June 2021

RORY JOHN GATES (BILL GATES SON)

Rory John Gates Childhood Story Plus Untold Biography Facts 

 Rory John Gates (born 23 May 1999) is the only son of Bill Gates 

Rory John Gates (born 23 May 1999) is the only son of Bill Gates and his wife Melinda Gates. He is still a student. His father is an investor, entrepreneur, programmer, inventor, business magnate, and co-founder of Microsoft along with Paul Allen in 1975. 

 

Father: Bill Gates
Mother: Melinda Gates
Sisters: Jennifer Katharine Gates, Phoebe Adele ...
Birthplace: Seattle, Washington

Rory is famous for his father’s fame. Rory was born in Seattle, Washington. He is the second child of his parents. He has two sisters. His elder sister named Jennifer Katherine Gates and a younger sister named Phoebe Adele Gates.His mother is also a successful businesswoman and philanthropist. His parents allowed always strict parenting rules to ensure that their kids don’t become a spoilt brat. Rory and his siblings were given a fixed amount of money by their parents. He studied at Lakeside School.After completing high school education he attended Duke University where he earned his degree in Computer Science and Economics. Then he joined Fuqua School of Business where he completed his MBA degree. He also received Science lessons from his father while they went on vacation in Europe. Rory attended many educational tours to enlighten him on different cultures and histories.  

 Rory lives?

The Gates family has been unlike many modern families when it comes to living separately. While most American parents allow their kids to live on their own when they’re adult, the Gates family live together in their $123.54 million mansion called Xanadu 2.0 Bill Gates had bought the property in 1988 for $2 million, but now the yearly tax they pay amounts to $1 million! The luxurious house is of 66000 square foot and is famous for its design and technological integration. The house has sensors located all over and built in a way to regulate temperature efficiently. This famous house is ‘earth-sheltered’ and has six kitchens. The kitchens are in different parts of the house so that the staff is always prepared for an event.

Protected childhood

 
 
Bill and Melinda Gates have been very conservatives about their kids and have kept them away from the limelight for years. None of the children, including Rory, was allowed to use a cellphone till they were 13. Rory always asked his father for a phone because his friends have one, but he wasn’t allowed until 13. Their parents tried to give them a normal upbringing and always taught them value for money. Rory was allowed a cellphone to himself in 2012 as he turned 13. He might have had access to phones from his friends, but he couldn’t use it officially till he turned a teenager.

Knowing the value of charity

Bill Gates has announced that the maximum of his earnings will go into charity, and all his kids agree to this decision. He will not give a lot of his property to his children and wants them to make a career of their own. Like every father, Bill Gates feels that his kids have the potential to become independent on their own and work hard as he did.Rory is known to contribute 1/3rd of his pocket money to charity as the parents instilled this gesture from a young age. Rather than being consumed by social media, the young man is seen volunteering to solve global issues like diseases and poverty.The estimated Rory John Gates net worth is $20 million or $200 Lakhs (Converted by MeraCalculator). But like his father, he also does a lot of charity. 

Rory John Gates life

Rory John Gates makes the media curious because he is the only boy of Bill Gates. Moreover, he is said to take over Microsoft in the coming years. He has completed his education from Duke University and got degrees in computer science and economics. He then pursued an MBA degree from Fuqua School of Business. Even though his education is almost over, the Gates family has told the media that Rory John Gates is still studying. Other than academics, he is also interested in writing and was known to write a seven-line poem when he was 10 years old. He had named it ‘What’s Known As Diamante’. Other than this, there isn’t much information about his life and career. While most rich kids are known to have a social media presence, Rory has been far away from media and controversies. There has never been any news related to his personal life, girlfriends, or friends. He has been a very private person and even more than his sisters. Rory has a pretty decent height of 5 ft 5 inches and weighs 52 kg. His hair is naturally grey and color of eyes is brown. We’re waiting for him to come on Instagram and share details about his personal and professional life. His sister Jennifer Katherine Gates is pretty active on Instagram and puts her life out there. The future of Microsoft Since both the Gates sisters are not interested in tech, they are less likely to follow their father’s path. On the contrary, reports suggest that Rory will soon join his father in his business and continue to expand it.Even when Bill Gates plans to give away most of his fortune to the needy, his children know how they want to keep their legacy alive. Rory has to be much more headstrong to take the company ahead than what Bill did. Bill might not be the second richest after donating most of his fortune. But Rory can again bring the company to the top and bring back all the fortune. We have to wait and watch to see what the Gates family has planned for their future. The kids are still young to decide what they want to do in life, but they are worth the wait.