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Warren Buffett donates $1.1 billion worth Berkshire Hathaway stock, outlines succession plan for $147 billion fortune | Company Business News

LivemintLivemint ยท 1y ago
Warren Buffett donates $1.1 billion worth Berkshire Hathaway stock, outlines succession plan for $147 billion fortune | Company Business News
Medial

Billionaire investor Warren Buffett has donated over $1.1 billion worth of Berkshire Hathway stocks to his family's charities and foundations. Along with the donation, Buffett outlined succession plans for his $147.4 billion fortune. He stated that his three children would inherit his fortune over a period of 10 years after his death, but also designated an undisclosed successor in case they die before receiving their full inheritance. Buffett reiterated his belief in not creating dynastic wealth and emphasized the importance of allowing families to read their wills while they are still alive to avoid conflicts.

IndiaGold turns profitable, secures NBFC licence as gold-loan demand soars

EntrackrEntrackr ยท 13d ago
IndiaGold turns profitable, secures NBFC licence as gold-loan demand soars
Medial

IndiaGold, the gold-loan fintech operated by Flat White Capital, has turned profitable at the profit-after-tax (PAT) level in the current financial year and has also secured a non-banking financial company (NBFC) licence, according to two sources aware of the companyโ€™s details. The development comes amid strong momentum in gold-backed credit across the country, as both borrowers and lenders increasingly favour secured lending. Industry data from CRIF High Mark shows that retail loans grew 18% year-on-year in Q2 FY26, with gold loans expanding 35.8% YoY. During the quarter, gold-loan originations surged 53% year-on-year to Rs 6.05 lakh crore. The data also points to a clear shift towards higher-ticket gold loans. Loans above Rs 5 lakh now account for over 30% of total gold-loan originations by value, while the Rs 2.5โ€“5 lakh segment has steadily gained share over the past two years. In contrast, the contribution of loans below Rs 1 lakh has declined, a sign of wider usage beyond small, emergency-driven borrowing. While smaller-ticket loans continue to dominate volumes, gold loans are increasingly being used for business-linked needs, particularly by self-employed individuals and micro-entrepreneurs. The category also remains a key entry product for first-time borrowers, with new-to-credit customers accounting for around 15% of origination value in Q2 FY26. Geographically, gold-loan adoption is becoming more evenly distributed. Nearly two-thirds of originations now come from cities beyond the top nine metros, underscoring the categoryโ€™s expanding pan-India footprint. According to sources, NBFC licence and its first profitable year would support the next phase of growth for its regulated lending business. While the company declined to comment on the story, a companyโ€™s spokesperson said that the focus will remain on strengthening risk management, operations, and customer experience as the Gurugram-based firm scales its gold-backed credit offerings. On the funding front, IndiaGold has raised $24 million to date, with its latest funding round coming in November 2022. It competes with digital-first players such as Rupeek, as well as traditional brick-and-mortar lenders including Muthoot Finance and Manappuram Finance.

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2

EntrackrEntrackr ยท 4m ago
Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2
Medial

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2 Savings app Jar has reported strong growth in FY25, reaching an operating revenue of Rs 208 crore during the fiscal year ending March 2025. The surge in scale came after the company vertically integrated its gold stack, which pushed its gross revenue to Rs 2,450 crore during the period. Vertical integration implies owning and operating several stages of the gold value chain. The Bengaluru-based startup also reduced its net losses (excluding ESOP costs) to Rs 35.23 crore and turned fully profitable in the last two consecutive quarters from January to June 2025. Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar has built a base of over 35 million registered users across 12,000 pin codes, with more than 95% of its users being first-time savers. Jar leverages UPI Autopay to automate savings and has expanded into jewellery through its vertical Nek and forayed into insurance offerings. The startup has raised over $60 million with a valuation of approximately $325 million, backed by investors like Tiger Global, Arkam Ventures, Tribe Capital, and WEH Ventures.

SafeGold clocks Rs 6,867 Cr in gold transactions in FY25; turns EBITDA positive

EntrackrEntrackr ยท 2m ago
SafeGold clocks Rs 6,867 Cr in gold transactions in FY25; turns EBITDA positive
Medial

Digital gold investment platform Safegoldโ€™s gross revenue growth slowed to 12% in FY25 as it reported Rs 6,867 crore in operating revenue. The firm also turned EBITDA positive during the year. Digital gold investment platform Safegoldโ€™s gross revenue growth slowed to 12% in FY25, following strong expansion of 82% and 36% in FY23 and FY24, respectively, amid soaring gold prices in the country. However, the company turned EBITDA positive during the last fiscal year. Safegold gross revenue surged by 12% to Rs 6,867 crore in FY25 from Rs 6,116 crore in FY24, its consolidated financial statements filed with the Register of Companies (RoC) shows. Safegold is a digital platform that allows customers to easily buy, sell, and securely store vaulted gold, even in small denominations. It also enables users to convert their digital gold into jewellery through partnerships with Tata-owned Tanishq and CaratLane. The sale of digital gold across online and offline platforms was the primary revenue driver for the Mumbai-based company and contributed Rs 6,839 crore. The firm earned another Rs 27 crore from other operating revenue sources. Safegold sourced gold from refineries, custodians, and other trusted partners, accounting for 99.2% of its total expenditure. This cost climbed 12.5% to Rs 6,809 crore in FY25 from Rs 6,052 crore in FY24, mirroring its overall scale-up. Employee benefits expenses rose 12.5% year-on-year to Rs 12.44 crore in FY25, while it booked Rs 30.83 crore under miscellaneous expenses. Legal and professional fees, advertising, distribution, and other overheads pushed the total expenditure to Rs 6,895 crore in FY25. On the bottom line, Safegoldโ€™s losses rose to Rs 12.2 crore, which included Rs 14.48 crore of one-time exceptional expenses. At the operational level, however, the company reported a positive EBITDA of Rs 2 crore during the year. Its ROCE and EBITDA margin stood at 32.77% and 0.03% respectively. On a unit level, it spent Rs 1 to earn a rupee in FY25. The companyโ€™s current assets stood at Rs 56.74 crore, including cash and bank balances of Rs 32 crore at the end of March 2025. Safegold is backed by Pravega Ventures, Beenext, a Singapore-based angel network, and individual investors such as Rajan Anandan, Roshan Angrish, Prashant Malik, and Niraj Shah. The company has raised over $2 million to date, according to startup data intelligence platform TheKredible. Even as SafeGold reported steady growth in FY25, digital gold continues to gain traction among retail investors. SEBIโ€™s recent clarification that these products do not fall under its regulatory or commodity-derivative framework has removed ambiguity but keeps the category largely self-governed, a gap that could hamper customer interests in the long run if platforms fail to uphold adequate safeguards. With distribution widening across fintech apps, the onus is now on players to strengthen disclosures, audits and vault-management practices as the category scales.

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