Wednesday, March 18, 2009

World's Billionaires 2009


It's been a tough year for the richest people in the world. Last year there were 1,125 billionaires. This year there are just 793 people rich enough to make our list.

The world has become a wealth wasteland.

 

Like the rest of us, the richest people in the world have endured a financial disaster over the past year. Today there are 793 people on our list of the World's Billionaires, a 30% decline from a year ago.

Of the 1,125 billionaires who made last year's ranking, 373 fell off the list--355 from declining fortunes and 18 who died. There are 38 newcomers, plus three moguls who returned to the list after regaining their 10-figure fortunes. It is the first time since 2003 that the world has had a net loss in the number of billionaires.

The world's richest are also a lot poorer. Their collective net worth is $2.4 trillion, down $2 trillion from a year ago. Their average net worth fell 23% to $3 billion. The last time the average was that low was in 2003.

Bill Gates lost $18 billion but regained his title as the world's richest man. Warren Buffett, last year's No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway (BRK) fell nearly 50% in 12 months, but he still managed to slip just one spot to No. 2. Mexican telecom titan Carlos Slim Helú also lost $25 billion and dropped one spot to No. 3.

It was hard to avoid the carnage, whether you were in stocks, commodities, real estate or technology. Even people running profitable businesses were hammered by frozen credit markets, weak consumer spending or declining currencies.

The biggest loser in the world this year, by dollars, was last year's biggest gainer. India's Anil Ambani lost $32 billion--76% of his fortune--as shares of his Reliance Communications, Reliance Power and Reliance Capital all collapsed.

Ambani is one of 24 Indian billionaires, all but one of whom are poorer than a year ago. Another 29 Indians lost their billionaire status entirely as India's stock market tumbled 44% in the past year and the Indian rupee depreciated 18% against the dollar. It is no longer the top spot in Asia for billionaires, ceding that title to China, which has 28.

Russia became the epicenter of the world's commodities bust, dropping 55 billionaires--two-thirds of its 2008 crop. Among them: Dmitry Pumpyansky, an industrialist from the resource-rich Ural mountain region, who lost $5 billion as shares of his pipe producer, TMK, sank 84%. Also gone is Vasily Anisimov, father of Moscow's Paris Hilton, Anna Anisimova, who lost $3.2 billion as the value of his Metalloinvest Holding, one of Russia's largest ore mining and processing firms, fell along with his real estate holdings.

Twelve months ago Moscow overtook New York as the billionaire capital of the world, with 74 tycoons to New York's 71. Today there are 27 in Moscow and 55 in New York.

After slipping in recent years, the U.S. is regaining its dominance as a repository of wealth. Americans account for 44% of the money and 45% of the list's slots, up seven and three percentage points from last year, respectively. Still, it has 110 fewer billionaires than a year ago.

Those with ties to Wall Street were particularly hard hit. Former head of AIG (AIG) Maurice (Hank) Greenberg saw his $1.9 billion fortune nearly wiped out after the insurance behemoth had to be bailed out by the U.S. government. Today Greenberg is worth less than $100 million. Former Citigroup (C) Chairman Sandy Weill also falls from the ranks.

Last year there were 39 American billionaire hedge fund managers; this year there are 28. Twelve American private equity tycoons dropped out of the billionaire ranks.
Blackstone Group's (BX) Stephen Schwarzman, who lost $4 billion, and Kohlberg Kravis & Roberts' Henry Kravis, who lost $2.5 billion, retain their billionaire status despite their weaker fortunes.

Worldwide, 80 of the 355 drop-offs from last year's list had fortunes derived from finance or investments.

While 656 billionaires lost money in the past year, 44 added to their fortunes. Those who made money did so by catering to budget-conscious consumers (discount retailer Uniqlo's Tadashi Yanai), predicting the crash (investor John Paulson) or cashing out in the nick of time (Cirque du Soleil's Guy Laliberte).

So is there anywhere one can still make a fortune these days? The 38 newcomers offer a few clues. Among the more notable new billionaires are Mexican Joaquín Guzmán Loera, one of the biggest suppliers of cocaine to the U.S.; Wang Chuanfu of China, whose BYD Co. began selling electric cars in December, and American John Paul Dejoria, who got the world clean with his Paul Mitchell shampoos and sloppy with his Patrón Tequila.
 

Rank Name Citizenship Age Net Worth ($bil) Residence
1 William Gates III United States 53 40.0 United States
2 Warren Buffett United States 78 37.0 United States
3 Carlos Slim Helu & family Mexico 69 35.0 Mexico
4 Lawrence Ellison United States 64 22.5 United States
5 Ingvar Kamprad & family Sweden 83 22.0 Switzerland
6 Karl Albrecht Germany 89 21.5 Germany
7 Mukesh Ambani India 51 19..5 India
8 Lakshmi Mittal India 58 19.3 United Kingdom
9 Theo Albrecht Germany 87 18.8 Germany
10 Amancio Ortega Spain 73 18.3 Spain
11 Jim Walton United States 61 17.8 United States
12 Alice Walton United States 59 17.6 United States
12 Christy Walton & family United States 54 17.6 United States
12 S Robson Walton United States 65 17.6 United States
15 Bernard Arnault France 60 16.5 France
16 Li Ka-shing Hong Kong 80 16.2 Hong Kong
17 Michael Bloomberg United States 67 16.0 United States
18 Stefan Persson Sweden 61 14.5 Sweden
19 Charles Koch United States 73 14.0 United States
19 David Koch United States 68 14.0 United States
21 Liliane Bettencourt France 86 13.4 France
22 Prince Alwaleed Bin Talal Alsaud Saudi Arabia 54 13.3 Saudi Arabia
23 Michael Otto & family Germany 65 13.2 Germany
24 David Thomson & family Canada 51 13.0 Canada
25 Michael Dell United States 44 12.3 United States
 

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Thursday, March 5, 2009

Terrorist escaping after attacking the Sri Lankan Team

Pakistani TV has aired CCTV of suspected attackers in Lahore



Pakistani television has broadcast what it says is footage of gunmen fleeing the scene of Tuesday's deadly attack on the Sri Lankan cricket team in Lahore.

The edited footage shows several scenes apparently filmed in streets near the attack in the heart of the capital.

Up to 14 gunmen took part in the attack which killed six policemen and a driver and injured eight Tour members.

President Asif Ali Zardari has vowed that the attackers will be caught, and punished "with iron hands".

But a British ICC official caught up in the attack has criticised Pakistani securities for failing to protect them.


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Wednesday, March 4, 2009

Shootout in Lahore 'I felt a bullet fizz past my ear' - Kumar Sangakkara

'I felt a bullet fizz past my ear'

When you have been through what we have experienced, when you have been targeted by terrorists yourself and been so fortunate to escape, it changes your thinking


Kumar Sangakkara

March 4, 2009




'Our families will never feel the same about us leaving to play in Pakistan' © AFP

As I dictate this article we are preparing to fly home. It's been a long day and we can't wait to return home to our families. We were shaken badly, obviously. Pakistan has a reputation for being unstable in the recent past, but we never expected to be caught up in something like this. I am still shocked that a sports team could be targeted in this manner.

We had always felt pretty safe in Pakistan, to be honest. It shows how naïve we were. We realise now that sports people and cricketers are not above being attacked. All the talk that "no one would target cricketers" seems so hollow now. Far from being untouchable, we are now prize targets for extremists. That's an uncomfortable reality we have to come to terms with.

Tuesday started as just another day in Lahore: a morning report to the fitness trainer to check our hydration levels, a quick breakfast and cup of coffee and an 8.30am departure to the ground. We were all looking forward to the third day's play and trying to win the series. Our chief concern was how to wheedle out 19 Pakistan wickets on another true batting pitch.

Our team bus left with three to four police cars in a convoy with around 12 policeman and security officers, including motorbike outriders. Along the route road junctions were cleared and side roads closed to ensure we passed through the traffic easily. It was standard security for teams in this region and we had no worries as we travelled to the stadium.

The bus was full of the normal banter. Players traded stories, mostly about Lahore shopping, and cracked jokes. Others chatted about the cricket and the crucial first session. Then, as we approached the large roundabout before the Gaddafi Stadium, we suddenly heard a noise like a firecracker. The bus came to a halt and some of the guys jumped out of their seats to see what was happening. Then came the shout: "They are shooting at us!"

From the front I heard the screams to "get down, get down" and we all hit the deck. Within seconds we are all sprawled along the floor, lying on top of each other and taking shelter below the seats. The gunfire became louder, we heard explosions (which I understand now were hand grenades) and bullets started to flash through the bus.

I was sitting next to Thilan Samaraweera and close to the young Tharanga Paranavitana. For some reason I moved my head to get a better view and a split second later I felt a bullet fizz past my ear into the vacant seat. Fortunately, as a team, we remained quite calm. No one panicked. After what must have been two minutes standing still, we urged the driver to make a run for the stadium just a few hundred metres away: "Go, go, go" we shouted.

The truth is we owe our lives to the courageous Mohammad Khalil, the driver. I will forever be grateful to him. The tyres of the bus had been shot out and he was in grave personal danger, exposed to gunfire at the front of the bus. But he was hell-bent on getting us to safety and, somehow, he got us moving again. Had Khalil not acted with such courage and presence of mind most of us would have been killed.

Standing still next to the roundabout we were sitting ducks for the 12 gunmen. We only found out afterwards that a rocket launcher just missed us as we began moving and turned for the stadium gates, the rocket blowing up an electricity pylon. Khalil saw a hand grenade tossed at us that failed to explode. Someone must have been looking over us because right now it seems a miracle we survived.

As we moved towards the stadium, Tharanga announced he was hit as he sat up holding his chest. He collapsed onto his seat and I feared the worst. Incredibly, the bullet hit his sternum at such an angle that it did not penetrate. He was fine. Shortly afterwards Thilan complained of a numbness in his leg, which we later found out was a bullet wound.

Thilan and Tharanga were the worst hit. Just before reaching safety I felt a dull ache in my shoulder. Shards of metal, shrapnel, were lodged in the muscle. After being quickly evacuated to the dressing room the paramedics attended to those with minor wounds. My cuts were cleaned. Ajantha Mendis had several shards of metal removed from his head and neck after his hair was shaved off. Paul Farbrace, our assistant coach, had a large piece of shrapnel removed from his arm. Mahela [Jayawardene] had a minor cut to his ankle. After a while we started to calm down, and the phones started ringing.

When the tour was first announced while we were playing in Bangladesh, we had discussed security concerns with the Sri Lanka cricket board. Our own board had originally asked for a longer tour, asking for two extra ODIs, but we requested a shortened tour, an independent assessment of the security situation, some security guarantees, and proper insurance covering terrorist attacks.




Standing still next to the roundabout we were sitting ducks for the 12 gunmen. We only found out afterwards that a rocket launcher just missed us as we began moving and turned for the stadium gates, the rocket blowing up an electricity pylon. Khalil saw a hand grenade tossed at us that failed to explode. Someone must have been looking over us because right now it seems a miracle we survived




We were promised "Head of State" security and we were satisfied with this. We also wanted to play cricket in Pakistan. Nevertheless, with hindsight, we probably underestimated the security threat. In future, we need to very seriously consider how best to better tackle the issue of security in a new post-Lahore reality. We need to consider a more centralised and independent system for assessing security and a more open sharing of security information, not just between boards but with FICA and the players.

From a Pakistan perspective, it is tragic this has happened. Pakistan is a great country with a strong cricket tradition and very hospitable people. We like playing cricket here, but the presence of a small minority pursuing their own agendas at any cost will surely prevent tours for the foreseeable future. I sincerely hope that a solution can be found with time but assume Pakistan will first need a neutral venue solution for their home games.

Will I go back? When you have been through what we have experienced, when you have been targeted by terrorists yourself and been so fortunate to escape, it changes your thinking. It is a big question which cannot be answered now. I suspect, too, for us it can only be answered as an individual. Our families will never feel the same about us leaving to play in Pakistan. That is sad - for Pakistan and world cricket.

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