Business Today

After securing a contract to help build a pipeline, the brothers, brothers moved Essar to Mumbai.

It is India's largest city, according to India Magazine Business Today.

In nineteen ninety-one, India liberalized its economy, privatizing industries and letting executives expand businesses without government approval.

The Ruas grew Essar Group into a conglomerate, buying and building ports, oil refineries, a steel plant, telecom infrastructure, and a staffing business.

A year later, Forbes pegged the Rua brothers' combined net worth at eight point five billion, making them among the richest people in India.

When Shashi Rua died in twenty twenty-four, Indian Prime Minister Narendra Modi called him a colossal figure in a tribute posted on X.

The Rua's North American project struggled as several of the family's companies failed to keep up with loan payments, according to Business Today.

SR Steel Algoma, the company that owned the Canadian steel plant, filed for bankruptcy, bankruptcy protection in November twenty fifteen.

I saw another story that maybe gives us a clue as to what's going on.

This was in Business Today, and its, uh, headline is "US Jobs Paradox: AI-Exposed Roles See 46% Pay Surge Even as AI-Linked Layoffs Rise." So companies are using AI to automate tasks and reduce headcount, but the workers in the most AI-exposed occupations, like accounting, are actually seeing the fastest pay growth.

That doesn't make sense, right? You would think that in a, in accounting, we would be seeing pay go down if AI is competing with us now.

Yeah, if it's actually taking the jobs away.