Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Showing posts with label Forbes Rich List. Show all posts
Showing posts with label Forbes Rich List. Show all posts
March 05, 2013
Forbes List Understates My Wealth, Saudi Prince Says
BBC: Saudi Arabia's Prince Alwaleed Bin Talal has accused Forbes magazine of understating his wealth.
However, the prince's office said the magazine used flawed valuation methods.
According to some reports, the prince estimates his net worth to be $29.6bn, a figure that would put him in the top 10 of the magazine's latest rich list.
The list, published on Monday, saw Mexico's Carlos Slim retain the top slot for the fourth straight year with a net worth of $73bn.
The 10th spot on the list went to Bernard Arnault and family of the luxury goods group LVMH, with a net worth of $29bn. » | Tuesday, March 05, 2013
Mexico's Carlos Slim Wrests World's Richest Man Title from Bill Gates: Forbes' List
THE TELEGRAPH: Mexican billionaire Carlos Slim has stripped Bill Gates of his crown as the world’s richest man, as Latin American and Asian entrepreneurs begin to outpace the US and Europe when it comes to wealth creation.
Carlos Slim Helu [sic] (left) is the world's richest man, with a fortune of $53.5bn (£35.7bn). The Mexican made his money in the telecoms industry. He was in third place last year, and leapfrogged Bill Gates and Warren Buffett to take the top spot. Photograph: The Telegraph
Mr Slim, with a fortune of $53.5bn (£36bn) from his investment in telecoms and banking in Latin America, is worth $500m more than Bill Gates, the Microsoft founder, according to the just-released Forbes annual billionaires survey.
It is the first time in 16 years that a non-American has taken the top spot, with the Mexican, who saw his wealth increase by $18.5bn in the year, following in the footsteps of the Rausing Brothers in 1994.
But Mr Slim’s rise to the top is part of a much wider trend in the annual Forbes list – that of the rise of dollar billionaires from developing nations at the expense of those from more traditional wealthier countries.
Although the US still has the most billionaires on the list – some 403 with a combined net worth of $1.1 trillion – their hold is beginning to loosen, accounting for 40pc of the world’s billionaires in the latest list compared to 45pc last year.
At the same time, countries such as China, Turkey, Russia, Brazil and Argentina have all seen a significant rise in the number of billionaires. Pakistan now has its first billionaire in the shape of Mian Muhammad Mansha, who owns the country’s MCB Bank.
China is now home to 64 billionaires – the most of any country outside the US – with 27 of them reaching the $1bn mark for the first time. >>> James Quinn, US Business Editor | Wednesday, March 10, 2010
THE SYDNEY MORNING HERALD: Russia's super-rich love to flaunt their wealth. Soon they will have a magazine called Snob to help them.
Mikhail Prokhorov - whose wealth is estimated at around $US22 billion ($A23.3 billion) - plans to spend $US150 million ($A159 million) setting up a magazine, website and television station called Snob, the general director of the new venture said.
"It's for people who are successful and those who want to be successful," said Andrei Shmarov, who will run Snob.
Prokhorov, 42, made his fortune in the chaotic 1990s when businessmen bought up parts of former Soviet industries for a fraction of their real value.
The Forbes Rich List ranked Prokhorov as the 24th richest person in the world. He is one of the owners of Norilsk Nickel, the world's biggest nickel producer, and Polyus Gold, Russia's biggest gold producer. Billionaire Sets Up Mag for Snobs >>> | April 24, 2008
