The India-born metals mogul owns 41 percent of ArcelorMittal, the world's biggest steelmaker. He is the Luxembourg-based company's largest shareholder, as well as a director of Goldman Sachs. The U.K. resident owns several London properties, including mansions on "Billionaires Row" near Kensington Palace, and holds a 34 percent stake in the Queens Park Rangers soccer team.
Nelson Mandela emerged from 27 years in apartheid jails in 1990 pledging to seize South Africa’s mines and banks. Four years later, his government slashed spending and courted foreign investors, paving the way for the longest period of growth in the country’s history.
ArcelorMittal’s shares are primed to rebound as European manufacturing emerges from an almost two- year slump, spurring demand for output from the world’s biggest steelmaker, according to Macquarie Group Ltd.
On a grassy plain an hour’s drive southwest of Moscow, Vladimir Lisin has started producing steel at a newly completed plant. That’s something rival metals billionaire Lakshmi Mittal hasn’t achieved in Europe.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
President Francois Hollande’s government drew from a well-worn French playbook this week when it threatened to block job cuts at Alcatel-Lucent SA. It’s a game plan that almost always ends with firings happening anyway.
Wilbur Ross of WL Ross & Co. and his wife, author Hilary Geary Ross, helped host a fundraising dinner last night to support the restoration of Blenheim Palace in Woodstock, England, the birthplace of Winston Churchill.