Unicorn startups like Myntra and Cult.fit co-founder Mukesh Bansal's bet on space tech startup Skyroot Aerospace has returned over 60 times the profit, reports stated, citing Tracxn data. Bansal, who had invested $1.3 million (over ₹12 crore), has a current stake worth over ₹600 crore in the firm. He has also taken over ₹100 crore via partial exits.

Billionaire T Denny Sanford passed away aged 90 on Saturday after donating $4 billion during his lifetime. Sanford, who lost his mother to cancer when he was four and began helping in his father's garment business when he was eight, had said in 2007 he wanted to die "broke". He began his philanthropic journey with a $400-million donation in 2007.

Former NITI Aayog CEO Amitabh Kant said India should scrap retrospective taxation, warning it hurts global investor sentiment. He said the world should see India as welcoming to businesses and investors. "The Tiger Global case has impacted sentiments (of investors)," Kant said. In January, the Supreme Court upheld the tax on Tiger Global's Flipkart stake sale in 2018.

Vijay Singh, Vice Chairman of Tata Trusts, will step down as trustee of the Sir Ratan Tata Trust on August 14 after deciding not to seek another term, The Economic Times reported. His exit ends a long association with the trusts. "The changed atmosphere in the trusts after Ratan Tata's passing has been disquieting," he said.

Chinese AI unicorn Jijia Vision, aka GigaAI, is in talks for a Hong Kong IPO by the year-end. "Globally, we'll be the first to IPO among world model startups," CEO Huang Guan said. This comes as GigaAI nears the closing of a new funding round at a $3 billion valuation, making it the most valuable Chinese world model startup.

Billionaire investor Warren Buffett said luck played a major role in making him one of the world's wealthiest people. "I may be one of...10 luckiest in...world," Buffett said. He credited his father, whose investment firm gave him an early introduction to stock market, saying he wouldn't have had the same advantage if his "father had been a plumber".

Entry-level forward deployed engineers (FDEs) are earning ₹18-25 lakh a year, up to seven times more than entry-level software developers, as companies ramp up generative AI deployments. Recruiters attribute the premium to the rare combination of AI expertise and customer-facing implementation skills. Senior FDE salaries have climbed 15-25% over the past year, according to TeamLease Digital.

German carmaker Volkswagen is in advanced talks to sell a stake in its India business, Skoda Auto Volkswagen India, to the JSW Group, Bloomberg reported. The Sajjan Jindal-led conglomerate is seeking a majority stake in the Indian joint venture. Key issues, including valuation and future capital commitments by both sides, remain unresolved and the talks could still collapse, report added.

Jewellery sold on Amazon and TikTok Shop, including products advertised as "silver", contains dangerous levels of cadmium, a toxic silvery-white metal linked to cancer, as per an investigation by The Sunday Times. A "925 sterling silver" ring listed on Amazon was found to be 92.3% cadmium, while a similarly advertised bracelet on TikTok Shop had 33% cadmium, the report found.

The RBI's special measures to attract overseas deposits from NRIs have brought in $17.4 billion in foreign currency non-resident FCNR(B) deposits so far, showing strong investor interest. Companies also raised $1.34 billion through external commercial borrowings and $1.97 billion via overseas foreign currency borrowings. The measures aim to attract foreign capital and support the rupee.