1 / 10ADANI SAGA | Billionaire Gautam Adani faced ongoing challenges in 2024. In August, Hindenburg Research alleged that SEBI chief Madhabi Puri Buch had connections to offshore funds also linked to the Adani Group. Unlike 2023, when a report by the short-seller caused a $150 billion loss in market capitalisation, the 2024 revelations only had a limited impact on the company’s stocks. By May 2024, the Adani Group’s consolidated market capitalisation had returned to its pre-Hindenburg levels. However, a more significant setback occurred in November when US authorities indicted the 62-year-old tycoon and other executives for their involvement in an alleged bribery scheme. Following the indictment, Adani shares fell by as much as 25%.
2 / 10BOEING SAGA | Boeing remained under scrutiny in 2024 due to a series of safety issues and a massive workers’ strike. Troubles began in January when a domestic US flight experienced a mid-air blowout, followed by reports of technical faults on several other flights worldwide. The year’s deadliest aviation disaster – the Jeju plane crash in South Korea – involved a Boeing aircraft. The company attempted corrective measures amid regulatory investigations and mounting financial losses, but a seven-week machinists’ strike disrupted production, stalling recovery. Consequently, Boeing’s stock value plummeted by over 30% in 2024.
3 / 10ELON MUSK | Elon Musk dominated global headlines like never before in 2024. He became the first billionaire to surpass a net worth of $400 billion and gained political prominence by openly supporting Donald Trump’s US presidential campaign. Musk’s $200 million bet on Trump’s victory reportedly added $73 billion to his net worth within three weeks of the election results. His ownership of Twitter (now X) proved lucrative, as he leveraged the platform to galvanise support for Trump. With Trump entrusting Musk with overseeing government efficiency, Musk is poised to become one of the most influential billionaires in history.
4 / 10MICROSTRATEGY’S BITCOIN BUYING SPREE | US-based business intelligence firm MicroStrategy sparked an investment revolution in 2024 by aggressively purchasing bitcoin, becoming the first company to hold the cryptocurrency as a reserve asset. By December 30, the firm’s bitcoin holdings exceeded $40 billion in value. While some experts warned of risks, the strategy bolstered Bitcoin’s legitimacy. The cryptocurrency surged past the $100,000 milestone on December 5, partly buoyed by Donald Trump’s promise to transform the US into a crypto hub and establish a ‘strategic bitcoin reserve’.
5 / 10NVIDIA HITS $3 TRILLION MARKET CAP | As a leading figure in the AI revolution, Nvidia joined the exclusive $3 trillion valuation club on June 5, 2024. The chipmaker’s stock surged by over 180% during the year, driven by fierce competition among Wall Street heavyweights to dominate AI technology. However, Nvidia faced its setbacks; on September 3, it suffered a record $279 billion single-day loss in market value, as investor enthusiasm for AI waned following lacklustre economic data.
6 / 10CROWDSTRIKE OUTAGE | A flawed software update by cybersecurity firm CrowdStrike caused a global IT outage on July 19, 2024, disrupting millions of Windows systems and costing US Fortune 500 companies an estimated $5.4 billion. Dubbed the largest IT outage of the 21st century, it triggered widespread frustration, with the infamous Blue Screen of Death (BSOD) becoming a viral meme. Experts likened the incident to the Y2K bug, underscoring the fragility of modern systems.
7 / 10TELEGRAM CEO ARREST | Telegram CEO Pavel Durov was arrested in France on August 24, and later indicted on 12 charges, including complicity in distributing child exploitation material and drug trafficking. On September 1, Durov described the charges as ‘misguided’. While he was barred from leaving France and placed under judicial supervision, the arrest provoked protests from free-speech advocates and criticism from Russian diplomats, who accused French authorities of withholding information. The incident further strained relations between France and Russia.
8 / 10HONDA-NISSAN MERGER TALKS | In a historic move, Japanese automakers Honda and Nissan entered merger discussions in 2024, aiming for a deal by 2026. Faced with mounting competition from Chinese EV manufacturers, the collaboration was seen as a transformative step for Japan’s auto industry. If successful, the merger would create the world’s third-largest automaker by vehicle sales, behind Toyota and Volkswagen. The partnership would enable both firms to pool resources against rivals such as Tesla and BYD, the latter becoming the largest EV maker in 2024.
9 / 10TikTok BAN BILL | TikTok’s popularity in the US surged further in 2024, with a Pew survey revealing that 17% of American adults now use the platform for news, double the proportion since 2020. However, national security concerns prompted the US government to pass a Bill in April mandating TikTok’s sale to a non-Chinese owner. President Joe Biden signed the legislation, with a ban set to take effect if ByteDance fails to comply by January 19, 2025. Despite the move, public support for the ban has reportedly declined.
10 / 10RATAN TATA’S DEATH | Ratan Tata, the former chairman of Tata Group and a revered figure in Indian business, passed away on October 9, at the age of 86. His death sparked an outpouring of grief across India. Tata, who led the group from 1991 to 2012, oversaw its diversification into sectors including IT, steel, automobiles, and hospitality, as well as major global acquisitions such as Tetley, Jaguar Land Rover, and Corus. Following his death, his half-brother Noel Tata assumed the chairmanship of Tata Trusts, which indirectly oversees the $165 billion Tata Group.
