Kinda nice to have this thread alive. It's interesting to look back at developments.

Here's one little blip of news that made me wonder how American Billionaires are faring in the wake of current developments.

Gotta confess that I'm a little surprised at the $$$ wealth accumulation of investors in other countries.
Quote
ov. 13 (Bloomberg) -- Mukesh Ambani and Lakshmi Mittal led India's richest in losing $200 billion this year as the global financial crisis triggered a plunge in stocks and property values, Forbes Asia said.

The combined wealth of India's 40 wealthiest people slumped 60 percent to $139 billion, the magazine said today in an e-mailed release. Mittal, 58, lost his top position to Mukesh Ambani of Reliance Industries Ltd. Mittal lost $30.5 billion after the world's biggest steelmaker ArcelorMittal extended production cuts. The net worth of Mukesh Ambani, 51, dropped 58 percent after demand for petrochemicals made by Reliance Industries slumped and oil refining margins shrank.

There are 27 Indians with a net worth of $1 billion or more, compared with 54 last year. The key Sensitive index declined 53 percent this year and is set for its worst annual performance on record. At the same time, there are 456 million Indians who live on less than $1.25 a day, according to the World Bank.
Bloomberg Article

(Aside) If my numbers are right, those 40 billionaires could have redistributed their last years' wealth, and increased the annual income of 456,000,000 poor Indian citizens by 74%. Wow!
What would you have done?


Last edited by itstarted; 11/14/08 11:13 AM.
Life is Good!