India & China churning out billionaires: you could be the next one!
November 16th, 2007 - by 2point6billion.com
The Asian stock markets have made many rich globally and brought them down too. But then India & China has had some recent up’s that’s made & making many millionaires to billionaires.
Would you like to know some richest Indians who together value $180 billion!
1. Lakshmi Mittal, President of the Board of Directors of Arcelor Mittal, No. 1 again, worth $51 billion
2. Mukesh Ambani, Chairman of Reliance Industries, $49 billion. Courtesy the bull run in the stock market last month net worth of Mukesh Ambani rose to $63.2 billion making him the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett. This video shows who was in the top ten list in the world, before Mukesh passed these guys.
Then watch this video that speaks of the rankings of Mukesh and others in the month of September, 07. The lady shown at the end of the video is Nita, wife of Mukesh who looks after the social and charitable arm of Reliance Industries.
3. Anil Ambani, Chairman, Anil Dhirubhai Ambani Group - $45 billion (Brother of Mukesh)
4. Kushal Pal Singh, Chairman, DL F Group, worth $35 billion after the listing of his flagship DLF and is also now the world’s richest real estate developer
The interesting point is that the four 4 together are worth more than 40 richest Chinese combined.
Now talking about Indian cities: lets have a look to see where the wealth lies:
The reports show that Mumbai and Delhi have topped the list. While there are 23 billionaires from Mumbai, Delhi has around 12. Pune and Bangalore has six billionaires each.
When considering China individually, the number of Chinese in the mainland worth $1 billion or more jumped to 108, from 15 last year. Yan Cheung, chairwoman of Nine Dragons Paper, made history as China’s richest person.
India and China (Forbes pinned down a record 946 billionaires this March. There were 178 newcomers, including 14 Indians and 13 Chinese)have had rapid economic growth, altering the balance among the world’s wealthiest people as the two economies together have outperformed any nation on the globe with soaring real estate prices and booming stock markets making themseves an investors heaven. Get ready to target in your investments here if you havent already!
(The picture above is of Yang Huiyan, Chinese mainland’s wealthiest person, during her wedding ceremony with her husband)
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November 16th, 2007 at 5:14 pm
Hi,
How can be confirm this Lakshmi Mittal ‘ s worth 51$ billion.
November 18th, 2007 at 10:27 am
Sir, That Indias 4 billionares equal 40 chinese billionares tell its own story about Indias wealth and infrastructure.Mumbai has 23 but the biggest slum in Asia is also there. They are getting loan from world bank and japan to give 225 sq feet of space to each of the 10 lakh families who live there to eradicate the slum .cost rupees 4000 crores($4 billion).Mukesh Amabani is constructing his home for 6 people in that city( 27 storey building with 3 helipads,parking space for 167 cars,swimming pools,gold course etc. His family of 6 will be looked after by 617 servants!!!!).When it rains in mumbai one must see the roads and even the airport. The clogging os seaport and potholed roads, no public toilets for women one can see why naxalites are infiltrating into mumbai city). The cost of his personal home is rupees 4000 crores ($ 4 billion).Mukesh gave his wife on Krwah chauth a Boeing 787 business jet as gift. He cannot think about a shelter for wandering mentallyill in mumbai which would have costed about rupees 10 crores( about 1/400 of the cost of his home!!!!!!!!!!!
November 19th, 2007 at 1:26 pm
Amit, a number of newspapers in India had reported the figures.
November 20th, 2007 at 9:03 am
Captain Johann,
I do agree with your views in some ways but have this to say:
Its not just in India but generally in most devoloping economies, the difference between the have’s and the have nots. The income disparities just get bigger. Thats not what we or people like Mukesh who want it but (have to) accept it as a part and parcel of the growth that accompanies.
Now even though we know that Mukesh has given his wife a jet but we also know that his family has been serving the society in one way or the other. Nita has been doing plenty of social work and Reliance has created real wealth for its shareholders.
your concerns on infrastructure are quite apt. but then we know where India is lagging and also know that things are going to improve soon with time. The govenment has now set billions on the infrastructure dev. and for sure things will be different. The changes in New Delhi are evident.
November 20th, 2007 at 4:04 pm
Sheetal,
Sadly, it’s not just developing economies that are experiencing this trend. In America over the last generation, the super-rich have become even more incredibly wealthy.
A little private philanthropy cannot cure the problem of extreme inequality in a society. The middle and lower classes have a long struggle ahead in trying for a more fair distribution of wealth.
November 22nd, 2007 at 9:25 am
We are discussing the performance of the state(government) vs the performance of some brilliant individuals. Lets not forget that capitalism bring this opportunity to individuals to shine brighter than the state - whilst the more conservative forms of government would not give you this opportunity. I rather have the opportunity to make the billion than to live with what the state has to offer. This to me is freedom & this also relates to base that I would be able to positively contribute back to society in either one form or another!
December 3rd, 2007 at 10:02 am
Chris - when you become a billionaire would you call yourself a chinese, an indian or a british billionaire?
December 3rd, 2007 at 10:50 am
Ha ha. What do you mean “when ?” I’m Scottish by the way.
Kidding aside, usually with money of that size it’s earnt globally. Billionaires tend to be well advised individuals who may carry a specific passport (nationality) but who live elsewhere for ‘tax purposes’. Our good friend Mr. Mittal is a case in point. But India is proud of him and so they should be. He pays his taxes, works hard and is very smart. At that level it really ceases to matter what nationality you are.
December 8th, 2007 at 9:28 am
Sheetal, I read india add 168 billionaires in 2006-7 because of boom in stock markets. total now stands at 533 billionaires.