Forbes- World's Billionaires 2010

Discussion in 'International Politics' started by LETHALFORCE, Mar 11, 2010.

  1. LETHALFORCE

    LETHALFORCE Moderator Moderator

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  3. LETHALFORCE

    LETHALFORCE Moderator Moderator

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  4. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    http://news.yahoo.com/s/csm/20100311/wl_csm/286594_1



    India, China make mark on Forbes rich list


    By Anuj Chopra Anuj Chopra – 2 hrs 35 mins ago

    Mumbai, India – With the release of the latest Forbes rich list of billionaires, India is finding much to brag about – even as other fast-growing economies like China make their mark.

    Eight Indians made Forbes magazine’s latest list of the top 100 billionaires, and two – energy tycoon Mukesh Ambani and steel mogul Lakshmi Mittal – sit in the top 5. Mr. Ambani is now the fourth richest person in the world, and the richest person in the Asia-Pacific region.

    The highest-ranking Chinese person on the list is Li Ka-shing of Hong Kong, ranked No. 14 with $21 billion.

    Ten of Asia’s top 25 billionaires are Indian, while one is from China.

    Although China has more billionaires overall than India (and every other country besides the United States, for the first time), Indian billionaires are richer. According to a local edition of Forbes last November, the wealthiest 100 Indians are collectively worth $276 billion, while their top 100 Chinese counterparts are worth $170 billion. The three richest Indians – Ambani brothers Mukesh and Anil and Mr. Mittal – together had more wealth the top 24 Chinese billionaires combined.

    A measure of growth Last year, buffeted by the global downturn, 29 Indian billionaires were knocked off the Forbes annual list. But by the end of the year, with the economy chugging back to 7 percent growth, fortunes began to swell again.

    With 49 billionaires in 2010 – up from 24 the year before – India is one of only 11 nations to have more than doubled the number of billionaires, a sign of how it weathered the economic downturn better than most recession-wracked economies in the West. Other nations include China, South Korea, and Turkey.

    In the 1960s India’s filthy-rich royals who had inherited substantial fortunes dominated the list of elite. Commoners like Ambanis and Tatas began amassing fortunes in the 1990s after the country relaxed controls over Indian industry. In recent years, a growing number of entrepreneurs – including those who did not benefit from a family fortune – have made it to the Forbes list.

    The rise in billionaires reflects a growing and more prosperous India, though the country, home to one-sixth of the world’s population, still struggles with widespread poverty and inequality.
     
  5. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    http://news.bbc.co.uk/2/hi/south_asia/8562957.stm

    India billionaires double in 2009


    The number of billionaires in India doubled in 2009, Forbes magazine says.

    It lists 49 Indian billionaires, up from 24 the previous year. India, which has many of the world's poorest people, also has 10 of Asia's top 25 richest.

    The wealthiest Indian is Mukesh Ambani, worth an estimated $29bn. His Reliance Industries is India's largest firm.

    Steel tycoon Lakshmi Mittal is second with $28.7bn. Both are in Forbes' list of the 10 richest men in the world - Mr Ambani at four, Mr Mittal at five.

    Mexican telecom giant Carlos Slim ($53.5bn) came top - the first time since 1994 that an American has not led the rankings - ahead of Microsoft founder Bill Gates ($53bn) and US investor Warren Buffett ($43bn).

    Forbes listed 1,011 billionaires, up from 793 last year but still below the 1,125 listed in 2008.

    The improving health of the global economy meant that 55 countries were represented - with Pakistan (clothing exporter Mian Muhammad Mansha, number 937) and Finland (Antti Herlin, number 773) adding their first billionaires.

    Strengthening stock markets and several large public offerings during the past year helped Asia close the gap with Europe.

    A total of 234 Asian billionaires were featured in the 2010 list compared with 248 from Europe.

    The country with most billionaires is the US, with 403. But China comes second with 64 living in the mainland.
     
  6. amoy

    amoy Senior Member Senior Member

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    China's tycoons - The sectors of their fortune are worth analyzing: Beverage; Real Estate (Li Ka Shing) and Electronics
     
  7. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    Ohimalaya I am curious why there are so few Chinese from the energy sector making the list??
     
  8. amoy

    amoy Senior Member Senior Member

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    Energy sector, of 'strategic importance' in China is still dominated by state owned enterprises like Sinopec or PetroChina.

    I look into Chinese tycoons on Forbes rich list further with findings as below

    Mainland China (total: 64)

    No. of ranking.................... Main Sector
    --------------------------------------------------------------------------------
    103................................... .Beverage
    154.................................... Animal Feeds (also banking)
    176.....................................Home appliance chain store
    177.................................... Automobile

    Hong Kong (25): mostly property developers
    Taiwan (18): electronics takes the lead

    Their nominal wealth fluctuates with stock market performance. And their sectors look more interesting than numbers.
     
    Last edited: Mar 12, 2010
  9. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    So the energy sector is still a state owned enterprise this is something which is common thru out the world even when private corporations run companies in the energy sector they are usually partners with the government like US govt and EXXON working together in Iraq.
     
  10. gogbot

    gogbot Regular Member

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    They have just one telecommunications provider who's operations are split between China by 3 regions.

    All industries that have any chance of challenging state power, is heavy dominated by State owned firms.
     
  11. mattster

    mattster Respected Member Senior Member

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    I dont understand why having a bunch of billionaires is something to brag about ??

    So what if Ambanis or the Tatas and Birlas are filthy rich....it really does not reflect on the state of the nation when a huge part of the population is still very poor.
    It really means squat; other than the fact that the rich are always getting richer !!
     
  12. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    Having a bunch of billionaires just illustrastes the disparity of wealth in a country. I would rather have less billionares and a bigger middle class.
     
  13. amoy

    amoy Senior Member Senior Member

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    No. There're a few in telecom... most prominent are China Telecom, Unicom, Netcom and Tietong........

    As I said separately there're always endless debates on which serves the public better in such sectors, private business or state-owned/backed ent.?

    And agree - having a bunch of billionaires is NOTHING to brag about .

    But C'est vie - in almost every nation - social disparity in wealth distribution. Let's find out who (which country) is the role model in this regard
     
  14. nimo_cn

    nimo_cn Senior Member Senior Member

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    You need to get updated.
    China Netcom and Tietong have been history, Tietong was merged by China Mobile and China Netcom was merged by China Unicom.
    After the reformation in 2008, 3 of them were left, they are China Mobile, China Unicom and China Telecom but all of them are still state owned.
     
    Last edited: Mar 13, 2010
  15. Yusuf

    Yusuf GUARDIAN Administrator

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    Mattster, who is bragging? Its a forbes list that has been put up here.

    Armand, india has the highest middle class population. Economic disparity exists everywhere.
     

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