Monday, February 9, 2015

Falling Iron Ore Prices Shift Australia's Top 50 Rich List

Australia's Clive Palmer is not the only mining magnate whose fortune has been hit by tumbling commodity prices. Palmer’s estimated wealth has fallen below $550 million, the cut off for the latest Forbes Australia list, as the value of his coal and iron ore assets fell. The plunging commodity prices have knocked him off Australia’s Top 50 Rich List.
Gina Rinehart’s wealth dropped by $6 billion, however she still remains the country’s richest person with a net worth of $11.7 billion.
Fortescue Metals founder Andrew Forrest dropped from fifth to tenth on the list, as his net worth shrunk by $2.1 billion to $5 billion.
Australia’s mining royalty has taken a hit from a worldwide decline for the demand for steel, particularly in China, according to “The drop in iron ore prices and the Australian dollar’s 6.5 per cent depreciation against the US dollar were among the factors that impacted many of the richest,” it said. The collective worth of Australia’s 50 richest people was $89.3 billion in 2014, down from $101.15 billion a year earlier.
A real estate boom, partly driven by soaring interest in Australian real estate from Asian buyers, boosted the wealth of property tycoons.
Sydney developer Harry Triguboff rose to second on the list as his fortune more than quadrupled to $5.6 billion. Known as “Highrise Harry” for developing more than 60,000 apartments throughout his career, Mr Triguboff is the founder of Australia’s biggest apartment builder Meriton.
Westfield shopping centre tycoon Frank Lowy is the third richest Australian, adding $400 million to his net worth, to $5 billion.
Casino mogul James Packer is fourth despite falling revenue from Crown’s Macau casino interests wiping $2 billion from his net worth.
Ivan Glasenberg, who holds the biggest private stake in mining giant Glencore, was also hit by the commodity price downturn, but is ranked fifth with a net worth of $4.4 billion.

The Top 10 Richest Australians

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Saturday, February 7, 2015

From A Multi Billionaire To A “Negative Billionaire” In Two Years

Eike Batista, once Brazil’s richest man, has earned himself the rare title of “negative billionaire.”
According to Bloomberg’s Billionaires Index, Batista, who was worth $35 billion in 2012, now owes $1.2 billion. And on top of that, a Brazilian federal judge is ordering the seizure of Batista’s assets. Authorities have been seizing all of Batista’s financial assets in Brazil - including a white Lamborghini (shown below) and $32,490 in cash, computers, and watches — as well as real estate, six other cars, 2 boats and 3 airplanes.
According to a Reuters report, investigators were concerned that Batista was selling or donating his frozen assets. This is just the latest action taken against Batista for charges of insider trading and stock manipulation, allegedly in an attempt to save his flagship oil company OGX. Batista made his first fortune trading gold in the 1980s, and went on to start six companies in mining, energy, and oil.
In 2013, Batista’s billion-dollar empire came crashing down, losing $9.7 billion. After the fall of OGX in 2013, Batista’s net worth dropped to about $200 million. Four of Batista’s companies are now bankrupt, and the former billionaire is still working on paying off his debts.
It’s a rough time for a man who once claimed that he would become the richest man in the world. Batista had been on his way at the 7th richest rank, before his fortune evaporated.
But there’s still a ray of hope. According the book “All or Nothing” by Malu Gaspar, Batista sought out advice from a Buddhist monk, who told him he would become the world’s richest man in 2017.
Batista still has two years to get there.

Eike Batista's Lamborghini Being Seized In Brazil

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Unusual Mansion For Sale In Ridgefield, CT
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Wednesday, February 4, 2015

Hurun Report Releases Its Annual Global Rich List 2015

Chinese Entrepreneurship Website Hurun Report Releases Its 4th Annual Global Rich List 2015, a ranking of the US dollar billionaires currently found in the world. Wealth calculations are a snapshot of earnings as of January 17, 2015. According to the report, the number of billionaires in the world grew by 222 in 2014, bringing the total to a record 2,089. Billionaire Mailing List uses the Forbes and Bloomberg Rich Lists, and we are currently waiting for the release of the Forbes Rich List to release our newest list. Until then we have decided to show you the Top 10 according to the Hurun Report.
The three richest men in the world — Bill Gates, Carlos Slim and Warren Buffett — now have a combined $244 billion, up $52 billion over the past year, or about $100,000 a minute, said the report, which is an annual list of the world's richest individuals. Gates is the richest with $85 billion, up 25 percent over the past year. Slim is just behind with $83 billion, up 38 percent, and Buffett is third with $76 billion, up 19 percent.
But not all billionaires were as fortunate. Of the 2,089 billionaires in the world, 869 saw their wealth decrease while 649 saw increases, said the China-based report. In total, the world's billionaires saw their wealth drop by 1.5 percent to $6.7 trillion. That's still more than the combined GDPs of Japan and South Korea. Here's a breakdown;
1. Bill Gates, 59, retains the number 1 spot with a fortune of US $85 billion, up $17 billion, on the back of strong gains on his investments. Interestingly, one quarter of his wealth is parked with Warren Buffett, exceeding the value of his remaining stake in Microsoft. Other investments include $3.5 billion in Facebook, owned by Mark Zuckerberg also in the Top 10, and close to $2 billion in the Four Seasons hotel chain, majority owned by Prince Alwaleed, one of the Top 20. Gates became a billionaire by the age of 31. Despite being one of the biggest philanthropists in the world, Gates has been in the Top 3 of the Hurun Global Rich List since its inception four years ago.
2. Carlos Slim Helu, 75, regains his second spot with a 38% surge in his fortune to $83 billion. Interestingly, Slim is said to like to drive himself and has lived in the same six-bedroom house for the past 40 years. Slim has six children.
3. Warren Buffett, 84, saw his wealth shoot up by $12 billion or 19%. Buffett donated $2.8 billion to the Bill and Melinda Gates Foundation last year. Interestingly, 99 percent of his wealth was earned after his 50th birthday. His children, Susan, Howard and Peter, run their own charity foundations. “I would say the most satisfying thing is watching my children pick up on their own interests," Buffett said, "and work many more hours per week, than most people that have jobs, while trying to intelligently give away the money in fields that they particularly care about."
4. Amancio Ortega, 78, is out of the top three for the first time in three years, after seeing his stake in Zara drop by $7 billion, due in part to a drop in the Euro. Ortega has three children.
5. Larry Ellison, 70, with $54 billion, saw his wealth increase by 13%. Ellison is a signatory of The Giving Pledge, committing to donate more than half his wealth to philanthropic causes. Ellison is best-known for his passion for the sea, racing in the America’s Cup owning one of the biggest yachts in the world and in 2012 buying one of Hawaii’s largest islands. Interesting note; Steve Jobs was the official photographer at Ellison’s wedding.
6. Bernard Arnault, 65, stays at sixth with $45 billion. Arnault has five children from two marriages.
7. Mark Zuckerberg, at 30 is the youngest member of the Top 10, and has had a great year. His wealth soared 42%, moving him up 11 places to #7. In October, Zuckerberg surprised many with the quality of his spoken Chinese during a visit to Tsinghua University in China. Zuckerberg graduated from one of America’s best-known private high schools, Phillips Exeter Academy.  Zuckerberg has donated $2 billion this year. Five Facebook billionaires made the Hurun List.
8. Dieter Schwarz, 75, saw his wealth shoot up 29% to $36 billion and won him a place in the Top 10 for the first time. Schwarz inherited the supermarket chain Lidl and the hypermarket chain Kaufland from his father, but has since grown them significantly. Schwarz is known to be very low-key.
9 & 10. Charles, 79, and David Koch, 74, go up one place despite their wealth remaining the same at $36 billion.
For other interesting facts and breakdowns such as Top under 30, Top oldest billionaires, etc. see their site below.
The United States answer to this list will be released soon and of course you can find it at Billionaire Mailing List.