| India-born steel tycoon Lakshmi Mittal tops British rich list [message #383100] |
Mo, 24 April 2006 01:03 |
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Lakshmi Mittal is the 3rd or is it 4th richest man in the world (after
the ikea dude and bill gates) and all hindians are proud of him. I
think he's worth more than Warren Buffet but I'm not sure. He's got
both British and Indian citizenship.
Recently, the Indian govt came to his defence in some deal proving that
he's got a strategic relationship with GOI and has friends in powerful
places.
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LONDON (AFP) - Indian-born, London-based global industrialist Lakshmi
Mittal is Britain's all-time richest person after topping this year's
Sunday Times Rich List.
Mittal, 55, who is spearheading an audacious bid to take over the
European steel group Arcelor, has amassed a fortune of 14.88 billion
pounds (21.5 billion euros, 26.5 billion dollars), according to the
newspaper's estimates Sunday.
Acelor is headquartered in Luxembourg, the richest EU member state in
per capita terms, which in 2005 had an estimated GDP of 29.4
billion dollars -- about three billion dollars more than Mittal's
apparent wealth.
Overall, the Sunday Times said, there are 54 billionaires -- in pound
sterling terms -- who were either born in Britain, live in Britain or
make their money in Britain and its overseas territories.
Twenty of them are immigrants to Britain, which, the Sunday Times said,
was a sign of how the country is regarded as an welcoming place for the
world's wealthiest folk.
Mittal's group is offering 18.6 billion euros for Arcelor, in a
takeover bid that sparked concern in Luxembourg, Belgium, Spain and
France -- all of which must give regulatory approval to the deal.
In its 104-page supplement, the Sunday Times said the wealth of
Britain's richest 1,000 people now stands at a record 300.9 billion
pounds, up from 249.6 billion pounds last year -- a rise of more than
20 percent.
This represents one of the biggest year-on-year increases since the
Rich List -- based on "identifiable wealth" such as real estate, art
and shareholdings, but not bank accounts -- was first published in
1989.
"This year, it takes a 60 million pound fortune to make it into the top
1,000 in the Rich List," the newspaper said in a summary of its
findings, released Saturday.
In second place was Russian entrepreneur and Chelsea Football Club
owner Roman Abramovich at 10.8 billion pounds, whose oil interests saw
his wealth surge sharply by more than three billion pounds.
Gerald Grosvenor, the Duke of Westminster, 54, for many years the
richest native Briton thanks to his prime real estate holdings, was in
third place at 6.6 billion pounds, after seeing a one billion pound
rise in his fortune.
Queen Elizabeth II, who turned 80 on Friday, was said to be worth
300 million pounds -- leaving her in 192nd place, despite a gain of 30
million pounds in the past year thanks to higher stock and property
prices.
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383220 ] |
Di, 25 April 2006 02:20 |
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This guy's 3rd richest person in the whole world!!
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383371 ] |
Di, 25 April 2006 21:08 |
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bill gates has done, and still does, far more for india than mittal.
"bobber" <musicboy333 [at] yahoo.com> wrote in message
news:1145924407.753591.8300 [at] y43g2000cwc.googlegroups.com...
> This guy's 3rd richest person in the whole world!!
>
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383392 ] |
Mi, 26 April 2006 01:33 |
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the only thing bill gates is interested in is gaining a monopoly for
Windows in India, China and any big independant country.
His philantrophic efforts are all done from that angle.
are we on same page? wrote:
> bill gates has done, and still does, far more for india than mittal.
>
>
> "bobber" <musicboy333 [at] yahoo.com> wrote in message
> news:1145924407.753591.8300 [at] y43g2000cwc.googlegroups.com...
> > This guy's 3rd richest person in the whole world!!
> >
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383397 ] |
Mi, 26 April 2006 02:36 |
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You should take pride in the fact that just 55 years after becoming
politically free (15 years after becoming economically free), an Indian
is the 3rd richest person in the world. TISCO proudly mentions on its
brochure that British had official policy that Indians lack the
capability to make steel and steel manufacturing was explicitly banned
in India to support British industry. Even though Mittal spent all his
working life away from India, he has built this empire using the skill
and talent of Indian managers.
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383402 ] |
Mi, 26 April 2006 06:25 |
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fruitella wrote:
> the only thing bill gates is interested in is gaining a monopoly for
> Windows in India, China and any big independant country.
>
> His philantrophic efforts are all done from that angle.
Then, is he a missionary spreading the good news about the true OS? What are
his plans for inculturation?
> are we on same page? wrote:
>> bill gates has done, and still does, far more for india than mittal.
>>
>> "bobber" <musicboy333 [at] yahoo.com> wrote ...
>> > This guy's 3rd richest person in the whole world!!
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383403 ] |
Mi, 26 April 2006 06:50 |
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Its stupid to gloat about this. This is the same man who spit on his
motherland and invested in China just because it offered a very slight
advantage to him over India. I cannot imagine a Chinese tycoon doing
that to his motherland. Mittal has not invested a penny in India, and
yet India fights for his rights! Shame on Mr. Mittal.
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383540 ] |
Do, 27 April 2006 01:37 |
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Billy G has a $100 million mansion.
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383541 ] |
Do, 27 April 2006 01:38 |
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Chinese tycoons have done little for their own country either. Most of
the work is being done by foreign investors, especially Taiwanese and
Japanese.
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383549 ] |
Do, 27 April 2006 05:45 |
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Most of the investment in China is coming from Hong Kong, Taiwan,
Singapore, and other SE Asian countries. Hong Kong, Taiwan, and
Singapore are ethnically Chinese. Other SE Asian countries' economies
are controlled by ethnic Chinese as well. Their first priority for
offshore investments naturally go to China. India may be considered
for small pocket change investment these guys have left over after
investing the bulk of their cash in China. No ethnic Chinese would
ditch China over India, even if India offered a very slightly higher
return.
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| Re: India-born steel tycoon Lakshmi Mittal tops British rich list [message #383612 ] |
Do, 27 April 2006 20:41 |
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While I agree with you that ethnic chinese will always first look at
China while investing, its important to note that they know that China
offers an unbeatable deal. Where else can you get the might of the
state to create a super infrastructure, relatively modest taxes, highly
controlled workforce, one stop bribe payment system. India offers a
poor option in contrast, higher taxes, poor infrastructure, multiple
bribe centers, legal threats that can't be bought off or speedily
resolved, and militant trade unions. Chinese or Indian, the
attractiveness of China for cheap manufacturing is way above ethnic
considerations at present and will remain in the foreseeable future. I
expect Mittal to be a smart businessman who will go by the economics of
the deal and not patriotic tugs at his heart.
Craig West wrote:
> Most of the investment in China is coming from Hong Kong, Taiwan,
> Singapore, and other SE Asian countries. Hong Kong, Taiwan, and
> Singapore are ethnically Chinese. Other SE Asian countries' economies
> are controlled by ethnic Chinese as well. Their first priority for
> offshore investments naturally go to China. India may be considered
> for small pocket change investment these guys have left over after
> investing the bulk of their cash in China. No ethnic Chinese would
> ditch China over India, even if India offered a very slightly higher
> return.
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