1. William Gates III
Net Worth:$40.0 bil
Fortune:self made
Source:Microsoft
Age:53
Country Of Citizenship:United States
Residence:Medina, Washington
Industry:Software
Education:Harvard University, Drop Out,
Marital Status:married, 3 children
Software visionary regains title as the world's richest man despite losing $18 billion in the past 12 months. Stepped down from day-to-day duties at Microsoft last summer to devote his talents and riches to the Bill & Melinda Gates Foundation. Organization's assets were $30 billion in January; annual letter lauds endowment manager Michael Larson for limiting last year's losses to 20%. Gates decided to increase donations in 2009 to $3.8 billion, up 15% from 2008. Dedicated to fighting hunger in developing countries, improving education in America's high schools and developing vaccines against malaria, tuberculosis and AIDS. Appointed Microsoft Office veteran Jeffrey Raikes chief exec of Gates Foundation in September. Gates remains Microsoft chairman. Sells shares each quarter, redeploys proceeds via investment vehicle Cascade; more than half of fortune invested outside Microsoft. Stock down 45% in past 12 months. "Creative capitalist" wants companies to match profit making with doing good.
His house is 50,000 square feetIn 2005, the house and land were assessed at $200 million
Annually, Gates pays nearly $1 million dollars in taxes for the property
Over 64 km of optical fiber was used in the house
300 workers at one time were working on the house – 104 of them were electricians
Every door handle in the house was custom made and cost $2,000 each
There are no visible electric outlets in the house
Additional rooms in the house:
Gates likes to park his cars underground.آ Part of this mansion is a 6,300 square foot underground
garage. This is only one of three garages that are on the property, and it’s got room for 10+ cars.Hidden cameras are all over the property
Floor sensors can track you – up to 6 inches
As Gates is on his way home from work, he can fill his tub with water to his desired temp so it’s ready when he gets home
Woodwork in this house (which is abundant) is flawless
There are glass windows galore, and 7 varieties of stone were used to build the house
The actual “living” space is modest
All flooring is heated including the driveway and sidewalks
Much of the house is built underground into a hill so it looks smaller than it is
Biography
Bill Gates is one of the most influential people in the world. He is cofounder of one of the most recognized brands in the computer industry with nearly every desk top computer using at least one software program from Microsoft. According to the Forbes magazine, Bill Gates is the richest man in the world and has held the number one position for many years.
Gates was born and grew up in Seattle, Washington USA. His father, William H. Gates II was a Seattle attorney and his mother, Mary Maxwell Gates was a school teacher and chairperson of the United Way charity. Gates and his two sisters had a comfortable upbringing, with Gates being able to attend the exclusive secondary "Lakeside School".
Bill Gates started studying at Harvard University in 1973 where he spent time with Paul Allen. Gates and Allen worked on a version of the programming language BASIC, that was the basis for the MITS Altair (the first microcomputer available). He did not go on to graduate from Harvard University as he left in his junior year to start what was to become the largest computer software company in the world; Microsoft Corporation.
Bill Gates and the Microsoft Corporation
"To enable people and businesses throughout the world to realize their full potential." Microsoft Mission Statement
After dropping out of Harvard Bill Gates and his partner Paul Allen set about revolutionizing the computer industry. Gates believed there should be a computer on every office desk and in every home.
In 1975 the company Micro-soft was formed, which was an abbreviation of microcomputer software. It soon became simply "Microsoft" and went on to completely change the way people use computers.
Microsoft helped to make the computer easier to use with its developed and purchased software, and made it a commercial success. The success of Microsoft began with the MS-DOS computer operating system that Gates licensed to IBM. Gates also set about protecting the royalties that he could acquire from computer software by aggressively fighting against all forms of software piracy, effectively creating the retail software market that now exists today. This move was quite controversial at the time as it was the freedom of sharing that produced much innovation and advances in the newly forming software industry. But it was this stand against software piracy, that was to be central in the great commercial success that Microsoft went on to achieve.
Bill Gates is one of the most influential people in the world. He is cofounder of one of the most recognized brands in the computer industry with nearly every desk top computer using at least one software program from Microsoft. According to the Forbes magazine, Bill Gates is the richest man in the world and has held the number one position for many years.
Gates was born and grew up in Seattle, Washington USA. His father, William H. Gates II was a Seattle attorney and his mother, Mary Maxwell Gates was a school teacher and chairperson of the United Way charity. Gates and his two sisters had a comfortable upbringing, with Gates being able to attend the exclusive secondary "Lakeside School".
Bill Gates started studying at Harvard University in 1973 where he spent time with Paul Allen. Gates and Allen worked on a version of the programming language BASIC, that was the basis for the MITS Altair (the first microcomputer available). He did not go on to graduate from Harvard University as he left in his junior year to start what was to become the largest computer software company in the world; Microsoft Corporation.
Bill Gates and the Microsoft Corporation
"To enable people and businesses throughout the world to realize their full potential." Microsoft Mission Statement
After dropping out of Harvard Bill Gates and his partner Paul Allen set about revolutionizing the computer industry. Gates believed there should be a computer on every office desk and in every home.
In 1975 the company Micro-soft was formed, which was an abbreviation of microcomputer software. It soon became simply "Microsoft" and went on to completely change the way people use computers.
Microsoft helped to make the computer easier to use with its developed and purchased software, and made it a commercial success. The success of Microsoft began with the MS-DOS computer operating system that Gates licensed to IBM. Gates also set about protecting the royalties that he could acquire from computer software by aggressively fighting against all forms of software piracy, effectively creating the retail software market that now exists today. This move was quite controversial at the time as it was the freedom of sharing that produced much innovation and advances in the newly forming software industry. But it was this stand against software piracy, that was to be central in the great commercial success that Microsoft went on to achieve.
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2. Warren Buffett
Net Worth:$37.0 bil
Fortune:self made
Source:Berkshire Hathaway
Age:78
Country Of Citizenship:United States
Residence:Omaha, Nebraska
Industry:Investments
Education:University of Nebraska Lincoln, Bachelor of Arts / Science, Columbia University, Master of Science
Marital Status:widowed, remarried, 3 children
Last year America's most beloved investor was the world's richest man. This year he has to settle for second place after losing $25 billion in 12 months. Shares of Berkshire Hathaway down 45% since last March. Injected billions of dollars into Goldman Sachs, GE in exchange for preferred stock last fall; propped up insurance firm Swiss Re in February with $2.6 billion infusion. Admits he made some "dumb" investment mistakes in 2008. Upbeat about America's future: "Our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so." Scoffs at Wall Street's over-reliance on "history-based" models: "If merely looking up past financial data would tell you what the future holds, the Forbes 400 would consist of librarians." Son of Nebraska politician delivered newspapers as a boy. Filed first tax return at age 13, claiming $35 deduction for bicycle. Studied under value investing guru Benjamin Graham at Columbia. Took over textile firm Berkshire Hathaway 1965. Today holding company invested in insurance (Geico, General Re), jewelry (Borsheim's), utilities (MidAmerican Energy), food (Dairy Queen, See's Candies). Also has noncontrolling stakes in Anheuser-Busch, Coca-Cola, Wells Fargo.
He lives in the same small 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
1. He bought his first share at age 11 and he how regrets that he started too late!
Things were very cheap that time. Encourage your children to invest
2. He bought a small farm at age 14 with savings from delivering newspapers
One could have bought many things with little savings. Encourage your children to start some kind of business
3. He still lives in the same small 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
Dont' buy more than what you 'really need' and encourage your children to do and think the same.
4. He drives his own car everywhere and does not have a driver or security people around him.
You are what you are
5. He never travels by private jet, although he owns the world's largest private jet company.
Always think how you can accomplish things economically
-btol gak, selalunya, manusia akan kreatif bila dalam kesusahan dan terdesak.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.
Assign the right people to the right jobs
7. He has given his CEO's only two rules.
rule number 1: do not lose any of your share holder's money
rule number 2: do not foreget rule number 1
8. He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television
DON'T try to show off, just be yourself and do what you enjoy doing
9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
10. Bill Gates, the world's richest man meet him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
His advice to young people:
" Stay away from credit cards (bank loans) and invest in yourself and REMEMBER:
A. Money doesn't create man but it is the man who created money
B. Live your life as simple as you are
C. Don't do what others say, just listen them, but do what you feel good.
D. Don't go on brand name; just wear those things in which you feel comfortable
E. Don't waste your money on unnecessary things; just spend on them who really in need rather
F. After all it's your life then why give chance to others to rule our life
" The HAPPIEST people DO NOT necessarily have the BEST of all. They simply APPRECIATE what they find on their way"
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Net Worth:$35.0 bil
Fortune:self made
Source:telecom
Age:69
Country Of Citizenship:Mexico
Residence:Mexico City
Industry:Telecommunications
Education:NA,
Marital Status:widowed, 6 children
Economic downturn and plunging peso shaved $25 billion from the fortune of Latin America's richest man. Global recession testing his ability to live up to the principles he sets for his employees: "Maintain austerity in times of fat cows." Son of a Lebanese immigrant bought fixed line operator Telefonos de Mexico (Telmex) in 1990; now controls 90% of Mexico's telephone landlines. Would be a billionaire based on his dividends alone. Biggest holding: $16 billion stake in America Movil, Latin America's largest mobile phone company with 173 million customers. America Movil and Telmex reportedly planning to jointly invest $4 billion to bolster telecom infrastructure in Latin America. Buying up cheap media, energy and retail assets. Last year took stakes in New York Times Co., former billionaire Anthony O'Reilly's Independent News & Media and Bronco Drilling; also increased position in Saks. Baseball statistics aficionado, art collector.
Biography
Carlos Slim Helu is a Mexican entrepreneur and businessman involved in a varied group of companies that include telecommunications, retail, banking and insurance, technology, and auto parts manufacturing businesses. He is the wealthiest Mexican man, the richest Latin American, and one of the top ten richest men in the world.
Carlos Slim Helú was born on the 28th of January, 1940 in Mexico City. His father Yusef Salim Haddad and mother Linda Helu were of Lebanese decent. Carlos was the 5th of 6 children. He studied engineering at the Universidad Nacional Autonoma de Mexico.
The financial success that Slim Helu has achieved has been from finding undervalued companies and making them profitable. Telefonos de Mexico (Telmex) was acquired during a privatization period in 1990 of the Mexican government. Carlos was criticized for raising phone call costs soon after purchasing the business, but he went on to improve phone services in Mexico with the company offering local and long distance calls, mobile phone services, Internet services, and a telephone directory.
"It's not a question of arriving and putting in a whole new administration, but instead, arriving and "compacting" things as much as possible, reducing management layers. We want as few management layers as possible, so that executives are very close to the operations. We also don't believe in having big corporate infrastructures." Carlos Slim Helu
Carlos Slim Helu has been referred to as the "Warren Buffett of Latin America", but he thinks of himself as an operator of companies, rather than just an investor (like Buffett).
Even though he has admitted to having very poor computer skills, he sees the Internet and technology as a major growth area in his group of businesses. He owns the largest Internet Service Provider (ISP) in Mexico and had one of the largest in the United States of America with his acquisition of Prodigy. Slim also owns the major computer retailer CompUSA, with more than 200 retail stores throughout the USA and Puerto Rico.
"Technology is going to transform people's lives and society everywhere in the world. My main task is to understand what's going on and try to see where we can fit in." Carlos Slim Helu
In 2005 Forbes business magazine estimated Carlos Slim Helu's net worth to be $23.8 billion American dollars, making him the 4th richest person in the world.
In 2006 Carlos Slim Helu was ranked as the third richest man in the world with an estimated $30 billion in assets.
In 2007 the Mexican billionaire remained in third position but increased his wealth dramatically to an estimated $49 billion.
Things were very cheap that time. Encourage your children to invest
2. He bought a small farm at age 14 with savings from delivering newspapers
One could have bought many things with little savings. Encourage your children to start some kind of business
3. He still lives in the same small 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
Dont' buy more than what you 'really need' and encourage your children to do and think the same.
4. He drives his own car everywhere and does not have a driver or security people around him.
You are what you are
5. He never travels by private jet, although he owns the world's largest private jet company.
Always think how you can accomplish things economically
-btol gak, selalunya, manusia akan kreatif bila dalam kesusahan dan terdesak.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.
Assign the right people to the right jobs
7. He has given his CEO's only two rules.
rule number 1: do not lose any of your share holder's money
rule number 2: do not foreget rule number 1
8. He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television
DON'T try to show off, just be yourself and do what you enjoy doing
9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
10. Bill Gates, the world's richest man meet him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
His advice to young people:
" Stay away from credit cards (bank loans) and invest in yourself and REMEMBER:
A. Money doesn't create man but it is the man who created money
B. Live your life as simple as you are
C. Don't do what others say, just listen them, but do what you feel good.
D. Don't go on brand name; just wear those things in which you feel comfortable
E. Don't waste your money on unnecessary things; just spend on them who really in need rather
F. After all it's your life then why give chance to others to rule our life
" The HAPPIEST people DO NOT necessarily have the BEST of all. They simply APPRECIATE what they find on their way"
****************************
3. Carlos Slim Helu & family
Net Worth:$35.0 bil
Fortune:self made
Source:telecom
Age:69
Country Of Citizenship:Mexico
Residence:Mexico City
Industry:Telecommunications
Education:NA,
Marital Status:widowed, 6 children
Economic downturn and plunging peso shaved $25 billion from the fortune of Latin America's richest man. Global recession testing his ability to live up to the principles he sets for his employees: "Maintain austerity in times of fat cows." Son of a Lebanese immigrant bought fixed line operator Telefonos de Mexico (Telmex) in 1990; now controls 90% of Mexico's telephone landlines. Would be a billionaire based on his dividends alone. Biggest holding: $16 billion stake in America Movil, Latin America's largest mobile phone company with 173 million customers. America Movil and Telmex reportedly planning to jointly invest $4 billion to bolster telecom infrastructure in Latin America. Buying up cheap media, energy and retail assets. Last year took stakes in New York Times Co., former billionaire Anthony O'Reilly's Independent News & Media and Bronco Drilling; also increased position in Saks. Baseball statistics aficionado, art collector.
Biography
Carlos Slim Helu is a Mexican entrepreneur and businessman involved in a varied group of companies that include telecommunications, retail, banking and insurance, technology, and auto parts manufacturing businesses. He is the wealthiest Mexican man, the richest Latin American, and one of the top ten richest men in the world.
Carlos Slim Helú was born on the 28th of January, 1940 in Mexico City. His father Yusef Salim Haddad and mother Linda Helu were of Lebanese decent. Carlos was the 5th of 6 children. He studied engineering at the Universidad Nacional Autonoma de Mexico.
The financial success that Slim Helu has achieved has been from finding undervalued companies and making them profitable. Telefonos de Mexico (Telmex) was acquired during a privatization period in 1990 of the Mexican government. Carlos was criticized for raising phone call costs soon after purchasing the business, but he went on to improve phone services in Mexico with the company offering local and long distance calls, mobile phone services, Internet services, and a telephone directory.
"It's not a question of arriving and putting in a whole new administration, but instead, arriving and "compacting" things as much as possible, reducing management layers. We want as few management layers as possible, so that executives are very close to the operations. We also don't believe in having big corporate infrastructures." Carlos Slim Helu
Carlos Slim Helu has been referred to as the "Warren Buffett of Latin America", but he thinks of himself as an operator of companies, rather than just an investor (like Buffett).
Even though he has admitted to having very poor computer skills, he sees the Internet and technology as a major growth area in his group of businesses. He owns the largest Internet Service Provider (ISP) in Mexico and had one of the largest in the United States of America with his acquisition of Prodigy. Slim also owns the major computer retailer CompUSA, with more than 200 retail stores throughout the USA and Puerto Rico.
"Technology is going to transform people's lives and society everywhere in the world. My main task is to understand what's going on and try to see where we can fit in." Carlos Slim Helu
In 2005 Forbes business magazine estimated Carlos Slim Helu's net worth to be $23.8 billion American dollars, making him the 4th richest person in the world.
In 2006 Carlos Slim Helu was ranked as the third richest man in the world with an estimated $30 billion in assets.
In 2007 the Mexican billionaire remained in third position but increased his wealth dramatically to an estimated $49 billion.
****************************
4. Lawrence Ellison
Net Worth:$22.5 bil
Fortune:self made
Source:Oracle
Age:64
Country Of Citizenship:United States
Residence:Redwood City, California
Industry:Software
Education:University of Illinois, Drop Out,
Marital Status:married, 2 children
Database titan continues to engulf the competition; Oracle has racked up 49 acquisitions in the past 4 years. Bought BEA Systems for $8.5 billion last year. Still sitting on $7 billion in cash. Revenues up 11% to $10.9 billion in the six months ended November 30; profits also up 11% to $2.4 billion. Stock down 25% in past 12 months. Invested $125 million in Web software outfit Netsuite; took public in 2007, stock has fallen 80% since. His shares still worth $300 million. Chicago native studied physics at U. of Chicago, didn't graduate. Started Oracle in 1977. Public 1986, a day before Microsoft. Owns 453-foot Rising Sun; built a smaller leisure boat because superyacht is hard to park. Squabbling in court with Swiss boating billionaire Ernesto Bertarelli over terms of next America's Cup. Recently unveiled hulking 90-foot trimaran he intends to use to win it.
Biography:
Net Worth:$22.5 bil
Fortune:self made
Source:Oracle
Age:64
Country Of Citizenship:United States
Residence:Redwood City, California
Industry:Software
Education:University of Illinois, Drop Out,
Marital Status:married, 2 children
Database titan continues to engulf the competition; Oracle has racked up 49 acquisitions in the past 4 years. Bought BEA Systems for $8.5 billion last year. Still sitting on $7 billion in cash. Revenues up 11% to $10.9 billion in the six months ended November 30; profits also up 11% to $2.4 billion. Stock down 25% in past 12 months. Invested $125 million in Web software outfit Netsuite; took public in 2007, stock has fallen 80% since. His shares still worth $300 million. Chicago native studied physics at U. of Chicago, didn't graduate. Started Oracle in 1977. Public 1986, a day before Microsoft. Owns 453-foot Rising Sun; built a smaller leisure boat because superyacht is hard to park. Squabbling in court with Swiss boating billionaire Ernesto Bertarelli over terms of next America's Cup. Recently unveiled hulking 90-foot trimaran he intends to use to win it.
Biography:
Lawrence J. Ellison was born in the Bronx, New York. At nine months, he contracted pneumonia, and his unmarried 19-year-old mother gave him to her aunt and uncle in Chicago to raise. Lawrence was raised in a two-bedroom apartment on the city's South Side. Until he was twelve years old he did not know that he was adopted. His adoptive father had lost his real estate business in the Great Depression and made a modest living as an auditor for the public housing authority. As a boy, Larry Ellison showed an independent, rebellious streak and often clashed with his adoptive father. From an early age, he showed a strong aptitude for math and science, and was named science student of the year at the University of Illinois.
During the final exams in his second year, Larry Ellison's adoptive mother died, and he dropped out of school. He enrolled at the University of Chicago the following fall, but dropped out again after the first semester. His adoptive father was now convinced that Larry would never make anything of himself, but the seemingly aimless young man had already learned the rudiments of computer programming in Chicago. He took this skill with him to Berkeley, California, arriving with just enough money for fast food and a few tanks of gas. For the next eight years, Ellison bounced from job to job, working as a technician for Fireman's Fund and Wells Fargo bank. As a programmer at Amdahl Corporation, he participated in building the first IBM-compatible mainframe system.
In 1977, Ellison and two of his Amdahl colleagues, Robert Miner and Ed Oates, founded their own company, Software Development Labs. From the beginning, Ellison served as Chief Executive Officer. Ellison had come across a paper called "A Relational Model of Data for Large Shared Data Banks" by Edgar F. ("Ted") Codd, describing a concept Codd had developed at IBM. Codd's employers saw no commercial potential in the concept of a Structured Query Language (SQL), but Larry Ellison did.
Ellison and his partners won a two-year contract to build a relational database management system (RDBMS) for the CIA. The project's code name: Oracle. They finished the project a year ahead of schedule and used the extra time to develop their system for commercial applications. They named their commercial RDBMS Oracle as well. In 1980, Ellison's company had only eight employees, and revenues were less than $1 million, but the following year, IBM itself adopted Oracle for its mainframe systems, and Oracle's sales doubled every year for the next seven years,. The million dollar company was becoming a billion dollar company. Ellison renamed the company Oracle Corporation, for its best-selling product.
Oracle went public in 1986, raising $31.5 million with its initial public offering, but the firm's zealous young staff habitually overstated revenues, and in 1990 the company posted its first losses. Oracle's market capitalization fell by 80 percent and the company appeared to be on the verge of bankruptcy. Accepting the need for drastic change, he replaced much of the original senior staff with more experienced managers. For the first time, he delegated the management side of the business to professionals, and channeled his own energies into product development. A new version of the database program Oracle 7, released in 1992, swept the field and made Oracle the industry leader in database management software. In only two years the company's stock had regained much of its previous value.
Even as Oracle's fortunes rose again, Ellison suffered a series of personal mishaps. Long an enthusiast of strenuous outdoor activities, Ellison suffered serious injuries while body surfing and mountain biking. He recovered from major surgery, and continued to race his 78-foot yacht, Sayonara, and to practice aerobatics in a succession of private jets, including decommissioned fighter planes. In 1998, Ellison and Sayonara won the Sydney to Hobart race, overcoming near-hurricane winds that sank five other boats, drowning six participants. Ellison is a principal supporter of the BMW Oracle Racing team, which has been a significant force in America's Cup competition. His yacht, Rising Sun, over 450 feet long, is one of the largest privately owned vessels in the world.
Oracle's fortunes continued to rise throughout the 1990s. America's banks, airlines, automobile companies and retail giants all came to depend on Oracle's database programs. Under Ellison's leadership, Oracle became a pioneer in providing business applications over the Internet. Oracle benefited hugely from the growth of electronic commerce; its net profits increased by 76 percent in a single quarter of the year 2000. As the stocks of other high tech companies fluctuated wildly, Oracle held its value, and its largest shareholder, founder and CEO Larry Ellison, came close to a long-cherished goal, surpassing Microsoft's Bill Gates to become the richest man in the world.
Beginning in 2004, Ellison set out to increase Oracle's market share through a series of strategic acquisitions. Oracle spent more than $25 billion in only three years to buy a flock of companies and large and small, makers of software for managing data, identity, retail inventory and logistics. The first major acquisition was PeopleSoft, purchased at the end of 2004 for $10.3 billion. No sooner was the ink dry on the PeopleSoft deal than Ellison trumped rival SAP to acquire retail software developer Retek. Within the following year, Oracle also acquired competitor Siebel Systems. Ellison capped this buying spree with the acquisition of business intelligence software provider Hyperion Solutions in 2007. Two years later, in the depths of a global recession, Ellison once again acted boldly, acquiring computer hardware and software manufacturer Sun Microsystems for $7.4 billion. Oracle is now the world's largest business software company, supplying all 100 of of the Fortune Global 100.
Today, Lawrence Ellison has his principal home in Woodside, California. He served as President of Oracle from 1978 to 1996, and undertook two stints as Chairman of the Board, from 1990 to 1992, and again from 1995 to 2004. Since its founding, he has been Oracle's only Chief Executive Officer.
After many years of pursuing a victory in the America's Cup yacht race, Ellison triumphed at last in 2010. Ellison joined the crew of the BMW Oracle for the second leg of the two-day competition, when the giant trimaran, with its revolutionary 223-foot wing sail, ended the race five minutes and 25 seconds ahead of the second-place finisher. Ellison's victory brings the 159-year-old America's Cup, the oldest trophy in international sports, back to the United States for the first time in 15 years.
5. Ingvar Kamprad & family
Net Worth:$22.0 bil
Fortune:self made
Source:Ikea
Age:83
Country Of Citizenship:Sweden
Residence:Lausanne
Industry:Retail
Education:NA,
Marital Status:married, 4 children
Peddled matches, fish, pens, Christmas cards and other items by bicycle as a teenager. Started selling furniture in 1947. Opened first Ikea store 50 years ago; stores's name is a combination of initials of his first and last name, his family farm and the nearest village. Retired in 1986; company's "senior adviser" still reportedly works tirelessly on his brand. Discount retailer now sells 9,500 items in 36 countries; prints catalog in 27 languages. Revenues up 7% to $27.4 billion in fiscal year 2008. Opened tenth store in China this February; planning to open first in Dominican Republic later this year. Three sons all work at the company. Thrifty entrepreneur flies economy class, frequents cheap restaurants and furnishes his home mostly with Ikea products.
Biography
Ingvar Kamprad founded IKEA, an international retailer of home furnishings that reinvented parts of the consumer market in the 1950s. Kamprad is also the chairman of the Stichting INGKA Foundation, a charitable foundation that also owns the parent company to IKEA. Although he is relatively private, Kamprad is well known as a successful entrepreneur and one of the wealthiest people in the world.
Born on March 30, 1926, Ingvar Feodor Kamprad grew up near Agunnaryd, Sweden on a small farm called Elmtaryd. As a young boy Kamprad developed a business buying matches at wholesale in Stockholm and selling them for a profit to his neighbors in the municipality of Ljungby. He realized he could still make a good profit even if he sold the matches at a considerable discount. The potential was enormous and Kamprad quickly grew his business to include Christmas decorations, seeds, fish, and pens and pencils.
At the age of 17, Kamprad's father gave him money as a reward for his success in school. Ingvar Kamprad used the money to fund a retail business named IKEA (an acronym that included his own initials plus those of the farm on which he grew up and the name of the nearby town of Agunnaryd). The original IKEA focused mostly on selling small household goods like wallets, picture frames, jewelry, nylon stockings and pens. Kamprad was focused on selling goods that consumers needed, but at a discount. He worked mostly on his own as a mobile retailer making individual sales calls.
In 1945, two years after starting IKEA, Ingvar Kamprad began advertising his business in local papers and using milk trucks to help deliver his goods. The trucks could not only deliver to homes, but also the local train station. By 1947 he expanded his business to include furniture by local manufacturers and within four years IKEA removed all other products from their catalog and focused primarily on furniture.
With pressure from competitors, Kamprad decided to open a furniture showroom in Almhult in 1953 to give consumers the ability to see and experience furniture prior to ordering. By 1955, however, furniture manufacturers began boycotting IKEA due to competitor pressure, forcing Kamprad to begin creating designs specifically for IKEA. Shortly thereafter, storage and prices drove the company to create furniture that consumers could assemble. Ingvar Kamprad was able to sell furniture for lower prices due to the money saved through cheaper storage and shipping.
Over the next few years, Ingvar Kamprad continued turning unique consumer needs into retail opportunities for his company. Although smaller stores opened a few years prior, Kamprad opened his first consumer retail warehouse in Stockholm in 1965 with an impressive 45,800 square feet of retail space. Within twenty years he expanded the store to countries around the world, finally expanding to over 114 stores in 25 countries worldwide.
The majority of IKEA stores are now owned by the privately operated Stichting INGKA Foundation, a charitable organization designed to promote architectural and design innovations. Kamprad acts as the founder and chairman of the foundation.
Kamprad is well known for his frugality despite his acquisition of properties and estates throughout Europe. Kamprad's public persona of frugality is part of his publicity for IKEA and a means to set an example for the employees of his company. In reality, Forbes has ranked Kamprad on the list of the world's wealthiest people for many years.
For a brief period in his life, Ingvar Kamprad was pro-Nazi and has since publicly apologized for his involvement and even wrote letters to employees acknowledging his mistakes.
6. Karl Albrecht
Net Worth:$21.5 bil
Fortune:self made
Source:Aldi
Age:89
Country Of Citizenship:Germany
Residence:Mulheim an der Ruhr
Industry:Retail
Education:NA,
Marital Status:married, 2 children
Germany's richest person owns discount supermarket giant Aldi Sud. Retailer faring well amid economic downturn; analysts expect its 2008 sales to be up 9.4% to $33.7 billion. Sales in the U.S. up estimated 20% last year to $7 billion. Plans to open 75 U.S. stores in 2009, including first in New York City. With younger brother, Theo, transformed their mother's corner grocery store into Aldi after World War II. Brothers split ownership in 1961; Karl took the stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo got northern Germany and the rest of Europe. Retired from daily operations. Fiercely private: little known about him other than that he apparently raises orchids and plays golf.
Biography
Karl Hans Albrecht (born 1920 in Essen, Germany) is a German entrepreneur who founded the discount supermarket chain, Aldi, with his brother Theo. He is among the richest men in the world, with an estimated net worth of $17.0 billion (Forbes,2006). Albrecht is the wealthiest man in Germany.
Karl and Theo Albrecht were raised in modest circumstances. Their father was employed as a miner and later as a baker’s assistant. Their mother had a small grocery store in the worker’s quarter of Schonnebeck. Theo completed an apprenticeship in his mother’s store, while Karl worked in a delicatessen. Karl also served in the German Army during World War II. After the end of World War II, the brothers took over their mother’s business (1946). The first Aldi (Albrecht-Discount) was opened in 1961.
Aldi’s operations were later divided between the brothers, with Karl taking control of the more profitable Aldi Süd (South), and Theo managing Aldi Nord (North).
Because Karl Albrecht has withdrawn himself from public life, little is known about him. He is married and has either one or two children. Forbes magazine reports that he has two children, neither of whom are employed by Aldi. The German language version of Wikipedia claims he has only one child. Karl Albrecht reportedly lives today in Switzerland. He is a fan of golf, and plays at his personal golf course, the Öschberghof, which he built in 1976. He also raises orchids.
In 1994, Karl Albrecht removed himself from the daily operations of Aldi Süd and took the position of chairman of the board. At the beginning of 2002, he also relinquished this position, thereby completely ceding control of the firm. Today, the business is no longer run by any of Karl Albrecht’s family members.
During the final exams in his second year, Larry Ellison's adoptive mother died, and he dropped out of school. He enrolled at the University of Chicago the following fall, but dropped out again after the first semester. His adoptive father was now convinced that Larry would never make anything of himself, but the seemingly aimless young man had already learned the rudiments of computer programming in Chicago. He took this skill with him to Berkeley, California, arriving with just enough money for fast food and a few tanks of gas. For the next eight years, Ellison bounced from job to job, working as a technician for Fireman's Fund and Wells Fargo bank. As a programmer at Amdahl Corporation, he participated in building the first IBM-compatible mainframe system.
In 1977, Ellison and two of his Amdahl colleagues, Robert Miner and Ed Oates, founded their own company, Software Development Labs. From the beginning, Ellison served as Chief Executive Officer. Ellison had come across a paper called "A Relational Model of Data for Large Shared Data Banks" by Edgar F. ("Ted") Codd, describing a concept Codd had developed at IBM. Codd's employers saw no commercial potential in the concept of a Structured Query Language (SQL), but Larry Ellison did.
Ellison and his partners won a two-year contract to build a relational database management system (RDBMS) for the CIA. The project's code name: Oracle. They finished the project a year ahead of schedule and used the extra time to develop their system for commercial applications. They named their commercial RDBMS Oracle as well. In 1980, Ellison's company had only eight employees, and revenues were less than $1 million, but the following year, IBM itself adopted Oracle for its mainframe systems, and Oracle's sales doubled every year for the next seven years,. The million dollar company was becoming a billion dollar company. Ellison renamed the company Oracle Corporation, for its best-selling product.
Oracle went public in 1986, raising $31.5 million with its initial public offering, but the firm's zealous young staff habitually overstated revenues, and in 1990 the company posted its first losses. Oracle's market capitalization fell by 80 percent and the company appeared to be on the verge of bankruptcy. Accepting the need for drastic change, he replaced much of the original senior staff with more experienced managers. For the first time, he delegated the management side of the business to professionals, and channeled his own energies into product development. A new version of the database program Oracle 7, released in 1992, swept the field and made Oracle the industry leader in database management software. In only two years the company's stock had regained much of its previous value.
Even as Oracle's fortunes rose again, Ellison suffered a series of personal mishaps. Long an enthusiast of strenuous outdoor activities, Ellison suffered serious injuries while body surfing and mountain biking. He recovered from major surgery, and continued to race his 78-foot yacht, Sayonara, and to practice aerobatics in a succession of private jets, including decommissioned fighter planes. In 1998, Ellison and Sayonara won the Sydney to Hobart race, overcoming near-hurricane winds that sank five other boats, drowning six participants. Ellison is a principal supporter of the BMW Oracle Racing team, which has been a significant force in America's Cup competition. His yacht, Rising Sun, over 450 feet long, is one of the largest privately owned vessels in the world.
Oracle's fortunes continued to rise throughout the 1990s. America's banks, airlines, automobile companies and retail giants all came to depend on Oracle's database programs. Under Ellison's leadership, Oracle became a pioneer in providing business applications over the Internet. Oracle benefited hugely from the growth of electronic commerce; its net profits increased by 76 percent in a single quarter of the year 2000. As the stocks of other high tech companies fluctuated wildly, Oracle held its value, and its largest shareholder, founder and CEO Larry Ellison, came close to a long-cherished goal, surpassing Microsoft's Bill Gates to become the richest man in the world.
Beginning in 2004, Ellison set out to increase Oracle's market share through a series of strategic acquisitions. Oracle spent more than $25 billion in only three years to buy a flock of companies and large and small, makers of software for managing data, identity, retail inventory and logistics. The first major acquisition was PeopleSoft, purchased at the end of 2004 for $10.3 billion. No sooner was the ink dry on the PeopleSoft deal than Ellison trumped rival SAP to acquire retail software developer Retek. Within the following year, Oracle also acquired competitor Siebel Systems. Ellison capped this buying spree with the acquisition of business intelligence software provider Hyperion Solutions in 2007. Two years later, in the depths of a global recession, Ellison once again acted boldly, acquiring computer hardware and software manufacturer Sun Microsystems for $7.4 billion. Oracle is now the world's largest business software company, supplying all 100 of of the Fortune Global 100.
Today, Lawrence Ellison has his principal home in Woodside, California. He served as President of Oracle from 1978 to 1996, and undertook two stints as Chairman of the Board, from 1990 to 1992, and again from 1995 to 2004. Since its founding, he has been Oracle's only Chief Executive Officer.
After many years of pursuing a victory in the America's Cup yacht race, Ellison triumphed at last in 2010. Ellison joined the crew of the BMW Oracle for the second leg of the two-day competition, when the giant trimaran, with its revolutionary 223-foot wing sail, ended the race five minutes and 25 seconds ahead of the second-place finisher. Ellison's victory brings the 159-year-old America's Cup, the oldest trophy in international sports, back to the United States for the first time in 15 years.
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5. Ingvar Kamprad & family
Net Worth:$22.0 bil
Fortune:self made
Source:Ikea
Age:83
Country Of Citizenship:Sweden
Residence:Lausanne
Industry:Retail
Education:NA,
Marital Status:married, 4 children
Peddled matches, fish, pens, Christmas cards and other items by bicycle as a teenager. Started selling furniture in 1947. Opened first Ikea store 50 years ago; stores's name is a combination of initials of his first and last name, his family farm and the nearest village. Retired in 1986; company's "senior adviser" still reportedly works tirelessly on his brand. Discount retailer now sells 9,500 items in 36 countries; prints catalog in 27 languages. Revenues up 7% to $27.4 billion in fiscal year 2008. Opened tenth store in China this February; planning to open first in Dominican Republic later this year. Three sons all work at the company. Thrifty entrepreneur flies economy class, frequents cheap restaurants and furnishes his home mostly with Ikea products.
Biography
Ingvar Kamprad founded IKEA, an international retailer of home furnishings that reinvented parts of the consumer market in the 1950s. Kamprad is also the chairman of the Stichting INGKA Foundation, a charitable foundation that also owns the parent company to IKEA. Although he is relatively private, Kamprad is well known as a successful entrepreneur and one of the wealthiest people in the world.
Born on March 30, 1926, Ingvar Feodor Kamprad grew up near Agunnaryd, Sweden on a small farm called Elmtaryd. As a young boy Kamprad developed a business buying matches at wholesale in Stockholm and selling them for a profit to his neighbors in the municipality of Ljungby. He realized he could still make a good profit even if he sold the matches at a considerable discount. The potential was enormous and Kamprad quickly grew his business to include Christmas decorations, seeds, fish, and pens and pencils.
At the age of 17, Kamprad's father gave him money as a reward for his success in school. Ingvar Kamprad used the money to fund a retail business named IKEA (an acronym that included his own initials plus those of the farm on which he grew up and the name of the nearby town of Agunnaryd). The original IKEA focused mostly on selling small household goods like wallets, picture frames, jewelry, nylon stockings and pens. Kamprad was focused on selling goods that consumers needed, but at a discount. He worked mostly on his own as a mobile retailer making individual sales calls.
In 1945, two years after starting IKEA, Ingvar Kamprad began advertising his business in local papers and using milk trucks to help deliver his goods. The trucks could not only deliver to homes, but also the local train station. By 1947 he expanded his business to include furniture by local manufacturers and within four years IKEA removed all other products from their catalog and focused primarily on furniture.
With pressure from competitors, Kamprad decided to open a furniture showroom in Almhult in 1953 to give consumers the ability to see and experience furniture prior to ordering. By 1955, however, furniture manufacturers began boycotting IKEA due to competitor pressure, forcing Kamprad to begin creating designs specifically for IKEA. Shortly thereafter, storage and prices drove the company to create furniture that consumers could assemble. Ingvar Kamprad was able to sell furniture for lower prices due to the money saved through cheaper storage and shipping.
Over the next few years, Ingvar Kamprad continued turning unique consumer needs into retail opportunities for his company. Although smaller stores opened a few years prior, Kamprad opened his first consumer retail warehouse in Stockholm in 1965 with an impressive 45,800 square feet of retail space. Within twenty years he expanded the store to countries around the world, finally expanding to over 114 stores in 25 countries worldwide.
The majority of IKEA stores are now owned by the privately operated Stichting INGKA Foundation, a charitable organization designed to promote architectural and design innovations. Kamprad acts as the founder and chairman of the foundation.
Kamprad is well known for his frugality despite his acquisition of properties and estates throughout Europe. Kamprad's public persona of frugality is part of his publicity for IKEA and a means to set an example for the employees of his company. In reality, Forbes has ranked Kamprad on the list of the world's wealthiest people for many years.
For a brief period in his life, Ingvar Kamprad was pro-Nazi and has since publicly apologized for his involvement and even wrote letters to employees acknowledging his mistakes.
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6. Karl Albrecht
Net Worth:$21.5 bil
Fortune:self made
Source:Aldi
Age:89
Country Of Citizenship:Germany
Residence:Mulheim an der Ruhr
Industry:Retail
Education:NA,
Marital Status:married, 2 children
Germany's richest person owns discount supermarket giant Aldi Sud. Retailer faring well amid economic downturn; analysts expect its 2008 sales to be up 9.4% to $33.7 billion. Sales in the U.S. up estimated 20% last year to $7 billion. Plans to open 75 U.S. stores in 2009, including first in New York City. With younger brother, Theo, transformed their mother's corner grocery store into Aldi after World War II. Brothers split ownership in 1961; Karl took the stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo got northern Germany and the rest of Europe. Retired from daily operations. Fiercely private: little known about him other than that he apparently raises orchids and plays golf.
Biography
Karl Hans Albrecht (born 1920 in Essen, Germany) is a German entrepreneur who founded the discount supermarket chain, Aldi, with his brother Theo. He is among the richest men in the world, with an estimated net worth of $17.0 billion (Forbes,2006). Albrecht is the wealthiest man in Germany.
Karl and Theo Albrecht were raised in modest circumstances. Their father was employed as a miner and later as a baker’s assistant. Their mother had a small grocery store in the worker’s quarter of Schonnebeck. Theo completed an apprenticeship in his mother’s store, while Karl worked in a delicatessen. Karl also served in the German Army during World War II. After the end of World War II, the brothers took over their mother’s business (1946). The first Aldi (Albrecht-Discount) was opened in 1961.
Aldi’s operations were later divided between the brothers, with Karl taking control of the more profitable Aldi Süd (South), and Theo managing Aldi Nord (North).
Because Karl Albrecht has withdrawn himself from public life, little is known about him. He is married and has either one or two children. Forbes magazine reports that he has two children, neither of whom are employed by Aldi. The German language version of Wikipedia claims he has only one child. Karl Albrecht reportedly lives today in Switzerland. He is a fan of golf, and plays at his personal golf course, the Öschberghof, which he built in 1976. He also raises orchids.
In 1994, Karl Albrecht removed himself from the daily operations of Aldi Süd and took the position of chairman of the board. At the beginning of 2002, he also relinquished this position, thereby completely ceding control of the firm. Today, the business is no longer run by any of Karl Albrecht’s family members.
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7. Mukesh Ambani
Net Worth:$19.5 bil
Fortune:inherited and growing
Source:petrochemicals
Age:51
Country Of Citizenship:India
Residence:Mumbai
Industry:Manufacturing
Education:University of Bombay, Bachelor of Arts / Science, Stanford University, Drop Out
Marital Status:married, 3 children
Oversees Reliance Industries, India's most valuable company by market cap despite stock falling 40% in past year. Merging his Reliance Petroleum with flagship Reliance Industries. As part of deal, will exercise right to buy back Chevron's 5% stake in Reliance Petroleum at $1.20 per share—the same price at which he sold it 3 years ago. Today the stock trades for $1.80 a share. Increased stake in Reliance Industries in October; paid $3.4 billion to convert 120 million preferential warrants into shares. Reliance Petroleum refinery on India's western coast began operating in December despite falling global demand and declining margins. Late father Dhirubhai founded Reliance and built it into a massive conglomerate. After he died Mukesh and his brother, Anil, ran the family business together for a brief time. But siblings feuded over control; mother eventually brokered split of assets. Brothers may be looking to bury hatchet; played joint hosts at mother's recent 75th-birthday bash. Has yet to move into his 27-story home that he's building at a reported cost of $1 billion. Ardent fan of Bollywood films. Wife, Nita, oversees school named after his father.
Biography
Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company; Chosen as ET Business Leader of the Year 2006; Ranked 42nd among the World's Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by PricewaterhouseCoopers and published in Financial Times, London, November 2004.
Mukesh Ambani is the face of new emerging India. He is the Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company.
Mukesh Ambani was born on April 19, 1957 in Mumbai. His father Dhirubhai Ambani was then a small businessman who later on rose to become one of the legends of Indian industry. Mukesh Ambani did his Bachelors in Chemical Engineering from University of Bombay and Masters in Business Administration from Stanford University, USA.
Mukesh Ambani joined Reliance in 1981 and was the brain behind Reliance's backward integration from textiles into polyester fibres and further into petrochemicals. During the process of backward integration, Mukesh Ambani led the creation of 51 new, world-class manufacturing facilities involving diverse technologies that raised Reliance's manufacturing capacities manifold.
World's largest grassroots petroleum refinery at Jamnagar is the brainchild of Mukesh Ambani. He was also the incharge of Dhirubhai's dream project Reliance Infocomm. But after the split in the Reliance Empire, Reliance Infocomm went to his brother Anil Ambani. Mukesh Ambani is now planning to enter retail sector in a big way. He has plans to establish big retail stores all over the country. Recently, he also entered into an agreement with Haryana Government to establish a Special Economic Zone (SEZ) with an investment running into thousands of crores.
Mukesh Ambani has many achievements and honours to his name. Mukesh Ambani was chosen as the ET Business leader of the Year 2006. He was ranked 42nd among the World's Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by PricewaterhouseCoopers and published in Financial Times, London, November 2004. He was conferred the World Communication Award for the Most Influential Person in Telecommunications in 2004 by Total Telecom, October, 2004. Mukesh Ambani was also conferred the Asia Society Leadership Award by the Asia Society, Washington D.C., USA,
Net Worth:$19.5 bil
Fortune:inherited and growing
Source:petrochemicals
Age:51
Country Of Citizenship:India
Residence:Mumbai
Industry:Manufacturing
Education:University of Bombay, Bachelor of Arts / Science, Stanford University, Drop Out
Marital Status:married, 3 children
Oversees Reliance Industries, India's most valuable company by market cap despite stock falling 40% in past year. Merging his Reliance Petroleum with flagship Reliance Industries. As part of deal, will exercise right to buy back Chevron's 5% stake in Reliance Petroleum at $1.20 per share—the same price at which he sold it 3 years ago. Today the stock trades for $1.80 a share. Increased stake in Reliance Industries in October; paid $3.4 billion to convert 120 million preferential warrants into shares. Reliance Petroleum refinery on India's western coast began operating in December despite falling global demand and declining margins. Late father Dhirubhai founded Reliance and built it into a massive conglomerate. After he died Mukesh and his brother, Anil, ran the family business together for a brief time. But siblings feuded over control; mother eventually brokered split of assets. Brothers may be looking to bury hatchet; played joint hosts at mother's recent 75th-birthday bash. Has yet to move into his 27-story home that he's building at a reported cost of $1 billion. Ardent fan of Bollywood films. Wife, Nita, oversees school named after his father.
Biography
Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company; Chosen as ET Business Leader of the Year 2006; Ranked 42nd among the World's Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by PricewaterhouseCoopers and published in Financial Times, London, November 2004.
Mukesh Ambani is the face of new emerging India. He is the Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company.
Mukesh Ambani was born on April 19, 1957 in Mumbai. His father Dhirubhai Ambani was then a small businessman who later on rose to become one of the legends of Indian industry. Mukesh Ambani did his Bachelors in Chemical Engineering from University of Bombay and Masters in Business Administration from Stanford University, USA.
Mukesh Ambani joined Reliance in 1981 and was the brain behind Reliance's backward integration from textiles into polyester fibres and further into petrochemicals. During the process of backward integration, Mukesh Ambani led the creation of 51 new, world-class manufacturing facilities involving diverse technologies that raised Reliance's manufacturing capacities manifold.
World's largest grassroots petroleum refinery at Jamnagar is the brainchild of Mukesh Ambani. He was also the incharge of Dhirubhai's dream project Reliance Infocomm. But after the split in the Reliance Empire, Reliance Infocomm went to his brother Anil Ambani. Mukesh Ambani is now planning to enter retail sector in a big way. He has plans to establish big retail stores all over the country. Recently, he also entered into an agreement with Haryana Government to establish a Special Economic Zone (SEZ) with an investment running into thousands of crores.
Mukesh Ambani has many achievements and honours to his name. Mukesh Ambani was chosen as the ET Business leader of the Year 2006. He was ranked 42nd among the World's Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by PricewaterhouseCoopers and published in Financial Times, London, November 2004. He was conferred the World Communication Award for the Most Influential Person in Telecommunications in 2004 by Total Telecom, October, 2004. Mukesh Ambani was also conferred the Asia Society Leadership Award by the Asia Society, Washington D.C., USA,
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8. Lakshmi Mittal
Net Worth:$19.3 bil
Fortune:inherited and growing
Source:steel
Age:58
Country Of Citizenship:India
Residence:London
Industry:Steel
Education:St Xavier's College Calcutta, Bachelor of Arts / Science,
Marital Status:married, 2 children
Indian immigrant heads world's largest steel company; ArcelorMittal was formed via hostile takeover 3 years ago. Stock in company makes up bulk of his fortune; shares at a 4-year low with steel prices down 75% since last summer. Company forced to pay heavy fines after a French antitrust investigation found 10 companies guilty of price-fixing in European steel markets. Arcelor posted $2.6 billion loss in most recent quarter; announced plans to slow acquisitions, cut capital expenditures, pay down debt. Started in family steel business in the 1970s, branched out on his own in 1994. Initially bought up steel mills on the cheap in Eastern Europe. Company bought 19.9% stake in Australia's Macarthur Coal last year. Also owns pieces of Mumbai's Indiabulls Group, London's RAB Capital; owns stake in, sits on board of Goldman Sachs. Holds substantial cash; owns 12-bedroom mansion in London's posh Kensington neighborhood.
Biography
The London-based, Rajasthan born steel baron is the Chairman and CEO of Mittal Steel Company and was the world’s 3rd richest man in 2005.
Lakshmi Narayan Mittal also known as Lakshmi Niwas Mittal is a billionaire industrialist, born in Rajasthan, India in 1950. Lakshmi graduated from St. Xavier’s College in Calcutta where he received a Bachelor of Commerce degree. He later married Usha Mittal, and had a son and daughter.
Mittal began his career working in the family’s steelmaking business in India, and has over 30 years of experience working in steel and related industries. Mittal founded the company Mittal Steel (formerly the LNM Group) in 1976 and has been responsible for the development of its businesses ever since. Mittal Steel is a global steel producer with operations in 14 countries.
Mittal pioneered the development of integrated mini-mills and the use of Direct Reduced Iron or “DRI” as a scrap substitute for steelmaking and led the consolidation process of the global steel industry. Mittal Steel is the largest steelmaker in the world, with shipments of 42.1 million tons of steel and profits of over $22 billion in 2004.
Mittal was awarded Fortune magazines “European Businessman of the Year 2004” and also “Steelmaker of the Year” in 1996 by New Steel, and the “Willy Korf Steel Vision Award” in 1998, for outstanding vision, entrepreneurship, leadership and success in global steel development from American Metal Market and PaineWeber’s World Steel Dynamics. In 2002 he was involved in a political scandal with British Prime Minister Tony Blair, when a donation he made to the Labour party led to Blair's intervention in a business deal flavoring Mittal, it was announced later he donated £2 million to the Labour Party.
Mittal is an active philanthropist and a member of a few trusts. Mittal is a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum’s International Business Council and the International Iron and Steel Institute’s Executive Committee. He is a Director of ICICI Bank Limited and is on the Advisory Board of the Kellogg School of Management in the U.S. In March 2005, Forbes Magazine named him the 3rd richest man in the world and the richest non-American, with an estimated wealth of US$25 billion.
He is the wealthiest person in Britain. His house in Kensington, bought in 2003 for $128 million is the most expensive house ever purchased. He also paid upwards of $55 million to host his daughter's wedding celebration in Versailles in 2004.
Net Worth:$19.3 bil
Fortune:inherited and growing
Source:steel
Age:58
Country Of Citizenship:India
Residence:London
Industry:Steel
Education:St Xavier's College Calcutta, Bachelor of Arts / Science,
Marital Status:married, 2 children
Indian immigrant heads world's largest steel company; ArcelorMittal was formed via hostile takeover 3 years ago. Stock in company makes up bulk of his fortune; shares at a 4-year low with steel prices down 75% since last summer. Company forced to pay heavy fines after a French antitrust investigation found 10 companies guilty of price-fixing in European steel markets. Arcelor posted $2.6 billion loss in most recent quarter; announced plans to slow acquisitions, cut capital expenditures, pay down debt. Started in family steel business in the 1970s, branched out on his own in 1994. Initially bought up steel mills on the cheap in Eastern Europe. Company bought 19.9% stake in Australia's Macarthur Coal last year. Also owns pieces of Mumbai's Indiabulls Group, London's RAB Capital; owns stake in, sits on board of Goldman Sachs. Holds substantial cash; owns 12-bedroom mansion in London's posh Kensington neighborhood.
Biography
The London-based, Rajasthan born steel baron is the Chairman and CEO of Mittal Steel Company and was the world’s 3rd richest man in 2005.
Lakshmi Narayan Mittal also known as Lakshmi Niwas Mittal is a billionaire industrialist, born in Rajasthan, India in 1950. Lakshmi graduated from St. Xavier’s College in Calcutta where he received a Bachelor of Commerce degree. He later married Usha Mittal, and had a son and daughter.
Mittal began his career working in the family’s steelmaking business in India, and has over 30 years of experience working in steel and related industries. Mittal founded the company Mittal Steel (formerly the LNM Group) in 1976 and has been responsible for the development of its businesses ever since. Mittal Steel is a global steel producer with operations in 14 countries.
Mittal pioneered the development of integrated mini-mills and the use of Direct Reduced Iron or “DRI” as a scrap substitute for steelmaking and led the consolidation process of the global steel industry. Mittal Steel is the largest steelmaker in the world, with shipments of 42.1 million tons of steel and profits of over $22 billion in 2004.
Mittal was awarded Fortune magazines “European Businessman of the Year 2004” and also “Steelmaker of the Year” in 1996 by New Steel, and the “Willy Korf Steel Vision Award” in 1998, for outstanding vision, entrepreneurship, leadership and success in global steel development from American Metal Market and PaineWeber’s World Steel Dynamics. In 2002 he was involved in a political scandal with British Prime Minister Tony Blair, when a donation he made to the Labour party led to Blair's intervention in a business deal flavoring Mittal, it was announced later he donated £2 million to the Labour Party.
Mittal is an active philanthropist and a member of a few trusts. Mittal is a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum’s International Business Council and the International Iron and Steel Institute’s Executive Committee. He is a Director of ICICI Bank Limited and is on the Advisory Board of the Kellogg School of Management in the U.S. In March 2005, Forbes Magazine named him the 3rd richest man in the world and the richest non-American, with an estimated wealth of US$25 billion.
He is the wealthiest person in Britain. His house in Kensington, bought in 2003 for $128 million is the most expensive house ever purchased. He also paid upwards of $55 million to host his daughter's wedding celebration in Versailles in 2004.
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9. Theo Albrecht
Net Worth:$18.8 bil
Fortune:self made
Source:Aldi, Trader Joe's
Age:87
Country Of Citizenship:Germany
Residence:Foehr
Industry:Retail
Education:NA,
Marital Status:married, 2 children
Runs discount supermarket group Aldi Nord; firm holding up amid economic downturn. Sales expected to hit $31 billion in 2008. After World War II he and older brother Karl transformed their mother's corner grocery into Aldi. Brothers split ownership in 1961; Karl took the stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo got the northern Germany stores and the rest of Europe. Unable to operate Aldi stores in U.S., Theo developed discount food store Trader Joe's; now has more than 320 U.S. stores. Also owns stake in Supervalu. Became a recluse after being kidnapped for 17 days in 1971; said to collect old typewriters; loves golf.
Net Worth:$18.8 bil
Fortune:self made
Source:Aldi, Trader Joe's
Age:87
Country Of Citizenship:Germany
Residence:Foehr
Industry:Retail
Education:NA,
Marital Status:married, 2 children
Runs discount supermarket group Aldi Nord; firm holding up amid economic downturn. Sales expected to hit $31 billion in 2008. After World War II he and older brother Karl transformed their mother's corner grocery into Aldi. Brothers split ownership in 1961; Karl took the stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo got the northern Germany stores and the rest of Europe. Unable to operate Aldi stores in U.S., Theo developed discount food store Trader Joe's; now has more than 320 U.S. stores. Also owns stake in Supervalu. Became a recluse after being kidnapped for 17 days in 1971; said to collect old typewriters; loves golf.
Biography
Theodor Paul Albrecht (born 28 March 1922), generally known as Theo Albrecht, is a German entrepreneur, who in 2007 was ranked by Forbes magazine as the 20th richest person in the world, with a net worth of $23.5 billion. He owns and was the CEO of the Aldi Nord discount supermarket chain. In the US he owns the Trader Joe's specialty grocery store chain. His brother Karl Albrecht owns the Aldi Süd discount supermarket chain. The two chains originally were a single family enterprise until a friendly division of assets in 1960. Aldi Süd operates the Aldi groceries in the United States. So Aldi and Trader Joe's, while owned by the brothers, have separate and distinct ownership and operations. In 1971, Theo was kidnapped for 17 days. A $3 million ransom was paid for his release. Both Albrecht brothers are reclusive and little is known about their private life. The last published photo of Theo Albrecht dates to 1971, one day after his kidnapping. Another photo of the two Albrecht brothers together has been taken in 1987 by the journalist Franz Ruch.
Theodor Paul Albrecht (born 28 March 1922), generally known as Theo Albrecht, is a German entrepreneur, who in 2007 was ranked by Forbes magazine as the 20th richest person in the world, with a net worth of $23.5 billion. He owns and was the CEO of the Aldi Nord discount supermarket chain. In the US he owns the Trader Joe's specialty grocery store chain. His brother Karl Albrecht owns the Aldi Süd discount supermarket chain. The two chains originally were a single family enterprise until a friendly division of assets in 1960. Aldi Süd operates the Aldi groceries in the United States. So Aldi and Trader Joe's, while owned by the brothers, have separate and distinct ownership and operations. In 1971, Theo was kidnapped for 17 days. A $3 million ransom was paid for his release. Both Albrecht brothers are reclusive and little is known about their private life. The last published photo of Theo Albrecht dates to 1971, one day after his kidnapping. Another photo of the two Albrecht brothers together has been taken in 1987 by the journalist Franz Ruch.
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10. Amancio Ortega
Net Worth:$18.3 bil
Fortune:self made
Source:Zara
Age:73
Country Of Citizenship:Spain
Residence:La Coruna
Industry:Retail
Education:NA,
Marital Status:married, 3 children
Railway worker's son started as a gofer in a shirt store. With then-wife Rosalia Mera, also now a billionaire, started making dressing gowns and lingerie in their living room. Business became one of world's most successful apparel manufacturers. Today Inditex has more than 4,000 stores in 71 countries. Sales: $12.3 billion. Ortega is chairman. Company exported its cheap chic Zara stores to 4 new markets last year: Ukraine, South Korea, Montenegro and Honduras. Stock up 1% in past 12 months, but fortune down because of weak euro. Also has personal investments in gas, tourism, banks and real estate. Owns properties in Madrid, Paris, London, Lisbon, plus a luxury hotel and apartment complex in Miami, a horse-jumping circuit, and an interest in a soccer league. Shuns neckties and fanfare. Daughter Marta works for Inditex; recent speculation suggests she is being groomed to eventually replace her father.
Biography
Amancio Ortega Gaona is a famous Galician fashion designer and entrepreneur. As the co-founder and chairman of Inditex Group, he's been listed as one of the richest men in the world by Forbes.
Amancio Ortega Gaona, best known as Amancio Ortega, was born on March 28, 1936 in Leon, Spain. His father worked on the railroad while his mother helped support the family by working as a maid. At the age of 13, Ortega began working for a shirtmaker as a delivery boy in La Coruna, Galicia, the center of the Iberian textile industry. He worked for a variety of stores and tailors and studied how products and costs changed as they traveled from the manufacturer to the consumer. As a result, he became focused on the importance of getting products directly to the consumer without a middle man.
Ortega never attended higher education and continued to work in the textile field into the early 1960s. After becoming manager of a local clothing shop, he discovered that only wealthy individuals could afford to purchase fine clothing and became even more determined to make quality clothes accessible to everyone. As a result, Ortega started making his own products, purchasing cheaper fabric from Barcelona and selling good quality, cheaper products to local stores. In 1963, at the age of 27, Amancio Ortega founded his own company called Confecciones Goa that made and sold fine bathrobes.
Ortega continued to build his company and in 1975 he opened his first retail store called Zara. It was located across the street from on of La Coruna's most well known department stores and Zara became famous for selling high quality designer products at reasonable prices. As a result of this success, Ortega continued to open stores and was credited with choosing perfect locations for each one. By 1989 Amancio Ortega Gaona was successfully operating almost one hundred Zara stores in Spain.
With the Zara's increasing popularity and overwhelming success, Ortega created Inditex in 1985 as the holding company for the Zara brand as well as other smaller chains. Inditex became one of the largest textile companies in the world.
Ortega continued to keep his brand simple and direct. His goal was to bring designs from the runway to the common consumer in only a few short weeks. Ortega wanted the clothing to be produced in fewer quantities and for stores to be refilled more often to cut down on inventory and shipping costs. Since Ortega kept his factories in Spain and produced smaller amounts of clothing, he was able to keep jobs in his home country, continue to save shipping costs, and pass the savings onto the consumer. Zara became so popular, in fact, that Amancio Ortega hardly needed to advertise at all.
Inditex Group went public in 2001 and, with over 59% of the shares in his possession, Ortega quickly became one of the wealthiest men in the world. He continues to keep a low profile however, so much so, in fact, that few people have ever seen a picture of him. Ortega never grants interviews and rarely shows up for public events.
Amancio Ortega lives a very private life with his second wife in La Coruna and, although he avoids the financial intricacies of the publicly traded company, he still enjoys designing and working with the details of fashion.
Net Worth:$18.3 bil
Fortune:self made
Source:Zara
Age:73
Country Of Citizenship:Spain
Residence:La Coruna
Industry:Retail
Education:NA,
Marital Status:married, 3 children
Railway worker's son started as a gofer in a shirt store. With then-wife Rosalia Mera, also now a billionaire, started making dressing gowns and lingerie in their living room. Business became one of world's most successful apparel manufacturers. Today Inditex has more than 4,000 stores in 71 countries. Sales: $12.3 billion. Ortega is chairman. Company exported its cheap chic Zara stores to 4 new markets last year: Ukraine, South Korea, Montenegro and Honduras. Stock up 1% in past 12 months, but fortune down because of weak euro. Also has personal investments in gas, tourism, banks and real estate. Owns properties in Madrid, Paris, London, Lisbon, plus a luxury hotel and apartment complex in Miami, a horse-jumping circuit, and an interest in a soccer league. Shuns neckties and fanfare. Daughter Marta works for Inditex; recent speculation suggests she is being groomed to eventually replace her father.
Biography
Amancio Ortega Gaona is a famous Galician fashion designer and entrepreneur. As the co-founder and chairman of Inditex Group, he's been listed as one of the richest men in the world by Forbes.
Amancio Ortega Gaona, best known as Amancio Ortega, was born on March 28, 1936 in Leon, Spain. His father worked on the railroad while his mother helped support the family by working as a maid. At the age of 13, Ortega began working for a shirtmaker as a delivery boy in La Coruna, Galicia, the center of the Iberian textile industry. He worked for a variety of stores and tailors and studied how products and costs changed as they traveled from the manufacturer to the consumer. As a result, he became focused on the importance of getting products directly to the consumer without a middle man.
Ortega never attended higher education and continued to work in the textile field into the early 1960s. After becoming manager of a local clothing shop, he discovered that only wealthy individuals could afford to purchase fine clothing and became even more determined to make quality clothes accessible to everyone. As a result, Ortega started making his own products, purchasing cheaper fabric from Barcelona and selling good quality, cheaper products to local stores. In 1963, at the age of 27, Amancio Ortega founded his own company called Confecciones Goa that made and sold fine bathrobes.
Ortega continued to build his company and in 1975 he opened his first retail store called Zara. It was located across the street from on of La Coruna's most well known department stores and Zara became famous for selling high quality designer products at reasonable prices. As a result of this success, Ortega continued to open stores and was credited with choosing perfect locations for each one. By 1989 Amancio Ortega Gaona was successfully operating almost one hundred Zara stores in Spain.
With the Zara's increasing popularity and overwhelming success, Ortega created Inditex in 1985 as the holding company for the Zara brand as well as other smaller chains. Inditex became one of the largest textile companies in the world.
Ortega continued to keep his brand simple and direct. His goal was to bring designs from the runway to the common consumer in only a few short weeks. Ortega wanted the clothing to be produced in fewer quantities and for stores to be refilled more often to cut down on inventory and shipping costs. Since Ortega kept his factories in Spain and produced smaller amounts of clothing, he was able to keep jobs in his home country, continue to save shipping costs, and pass the savings onto the consumer. Zara became so popular, in fact, that Amancio Ortega hardly needed to advertise at all.
Inditex Group went public in 2001 and, with over 59% of the shares in his possession, Ortega quickly became one of the wealthiest men in the world. He continues to keep a low profile however, so much so, in fact, that few people have ever seen a picture of him. Ortega never grants interviews and rarely shows up for public events.
Amancio Ortega lives a very private life with his second wife in La Coruna and, although he avoids the financial intricacies of the publicly traded company, he still enjoys designing and working with the details of fashion.
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