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Author Topic: BIGGEST BILLIONAIRE LOOSERS  (Read 1195 times)

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« on: August 28, 2011, 01:49:26 PM »

1. Anil Ambani
2009 net worth: $10.1 billion

Lost: $31.9 billion

Last year's biggest billionaire gainer is this year's biggest loser. His fortune is down $32 billion, as shares in his Reliance Communications fell by two-thirds. Number of telecom customers increased, but people used fewer minutes amid worldwide recession and India's economic slowdown; margins squeezed due to expensive expansion and increased competition. Company also took a hit when estranged brother Mukesh helped derail its merger with South Africa's MTN last July. His Reliance Power and Reliance Capital holdings fell too.

2. Lakshmi Mittal
2009 net worth: $19.3 billion

Lost: $25.7 billion

Steel titan has lost his shine. With steel prices down 75% since last summer and heavy fines from a French antitrust investigation that found 10 companies guilty of price fixing in European steel markets, ArcelorMittal stock, which makes up bulk of his fortune, is at four-year low. Group posted $2.6 billion loss in most recent quarter; announced plans to slow acquisitions, cut capital expenditures and pay down its debts. Recently halved its dividend to 75 cents.

3. Warren Buffett
2009 net worth: $37 billion

Lost: $25 billion

Oracle of Omaha's Berkshire Hathaway suffered worst year in its 44-year-history; book value down $11.5 billion, or 9.6%, since last March. Share price of Berkshire nearly halved. Made large investments in preferred shares of Goldman Sachs and General Electric. Admittedly "did some dumb things": cites $244 million investment in ConocoPhillips at top of oil market as one of them. Believes "the economy will be in shambles throughout 2009," but "America's best days lie ahead."

4. Carlos Slim Helú
2009 net worth: $35 billion

Lost: $25 billion

Fortune of Latin America's richest person fell more than 40% since last March, as his assets were hit by worldwide recession and plunging peso. Shares of wireless company America Movil, his biggest holding, are down 60%. Hasn't stopped him from investing: made $250 million loan to New York Times Co. in January, already owns
nearly 7%; stock down almost 80% over last year. Increased his stake in Saks, but luxury retailer's stock off nearly
90% since last winter.

5. K.P. Singh
2009 net worth $5.0 billion

Lost: $25 billion

Former army officer was briefly world's richest real estate baron. But shares of his property firm DLF sank 80% over last year, as earnings were hit by slowdown of once red-hot Indian economy and plunging real estate values. Attempt to boost stock price through a share buyback was unsuccessful. Plans to list its real estate investment trust in Singapore fell through. Cut prices on new homes in bid to revive sales.

6. Oleg Deripaska
2009 net worth: $3.5 billion

Lost: $24.5 billion

Russian oligarch squeezed between world manufacturing slowdown and credit crunch. Net worth plunged as world demand for aluminum, nickel, copper slowed. Russia's one-time richest man recently received a $4.5 billion loan from a state-controlled bank in order to keep his 25% stake in Norilsk Nickel, which faced a margin call by Western banks. Other margin calls forced him to divest a $1.5 billion stake in Canadian carmaker Magna International and a $500 million stake in German construction company Hochtief.

7. Mukesh Ambani
Net worth $19.5 billion

Lost: $23.5 billion

Becomes India's richest person, just passing Lakshmi Mittal, despite losing a bundle. Shares of his petrochemicals giant, Reliance Industries, plunged 40% over the last year as financial slowdown dampened oil demand; price of crude oil down 55% since last March. It is still India's most valuable company.

8. Sheldon Adelson
Net worth: $3.4 billion

Lost: $22.6 billion

Third-richest American in 2008 falls to 73rd place, as casino industry crapped out. Shares of Las Vegas Sands down 98% this past year as gamblers walked away from table. Massive debt is pressuring operations. Diluted stock and ownership in November offering that raised $2.1 billion; stake down from 65% to 51%. Injected $1 billion of his own cash in same offering to strengthen balance sheet. Suspended construction of billion-dollar casinos in Macau; laid off nearly 11,000 workers last November in China alone.

9. William Gates III
Net worth $40 billion

Lost: $18 billion

Reclaimed title of world's richest person despite the fact that his fortune fell by more than 30% over past year. Shares of Microsoft dropped 40% since last March as consumers and corporations slow spending on information technology. Company's second-quarter earnings disappointed analysts; warned of revenue drop in 2009. Attributed weakness to soft PC market, consumers' move to cheaper netbooks.

10. Vladimir Potanin
Net worth: $2.1 billion

Lost: $17.2 billion

Split from his longtime partner, Mikhail Prokhorov, in 2007 hurt his pocketbook. Fortune has fallen by billions in past year, as shares of his biggest holding--world's biggest nickel producer--Norilsk Nickel collapsed by three- fourths. Stake in Norilsk not as large as he'd hoped, as Prokhorov sold out to billionaire Oleg Deripaska instead of to Potanin. As part of division of assets, Potanin still has a stake in Rosbank. Sold 20% stake in Polyus Gold to another billionaire, Suleiman Kerimov, in late 2008.
« Last Edit: January 01, 1970, 05:30:00 AM by Guest »

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« on: August 28, 2011, 01:49:26 PM »

Offline Mr. Patel

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« Reply #1 on: August 28, 2011, 02:12:54 PM »
Very Nice Information......... :)
« Last Edit: January 01, 1970, 05:30:00 AM by Guest »

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« Reply #1 on: August 28, 2011, 02:12:54 PM »

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