4 ms·
India's richest men lose billions
- dryicerx 17y agoAnyone know the cause or reason for their losses? The article is kind of meaningless without that key information.
- jparise 17y agoThe original Forbes story has more details: http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Anil-Ambani_VX6G.html http://www.forbes.com/lists/2009/10/billionaires-2009-riches... In short, bad investment performance and scuttled merger plans.
- Everest 17y agoYeah I find this article meaningless as well. An exceedingly wealthy person lost half of his wealth and in relative terms to everyone else is still incredibly wealthy. I'm sure that billionaries in Russia, USA, and Middle East had similar experiences last year--who cares if the billionaires were from India?
- irrelative 17y agoIndeed. A year ago, Microsoft's stock was around 30$/share, and then this past year fell to low of about 15$/share. I don't think anyone said anything about Bill Gates losing almost half of his net worth (which is presumably still mostly in stock).
- FraaJad 17y agoIt's the colonial mentality. We lost the entire period of industrial revolution to these imperial tyrants. They just can't be happy without being patronizing about India and Indians.
- vamsee 17y agoI have to say I'm not entirely suprised - Reliance Group companies (owned by either brother) continue to lose their sheen - they became big players entirely due their father, Dhirubai Ambani. He's known for his ability to bribe and corrupt an entire political system and with little competition in the 'Licence Raj' days (where you basically had to get a 'licence' to start any business from the govt, often riddled with red-tape). Now that those days are on their way out, and MNCs giving stiff competition in virtually all the industries they are involved in, it is time for reckoning, I guess. Though, it would be remiss to write them off. They're still very rich, and very powerful (politically).