Post by QPR Report on Feb 8, 2009 8:42:08 GMT
Forbes - The Working Rich - The World's 10 Wealthiest CEOs
Erin Gell and Duncan Greenberg, 01.28.09,
Despite a sharp hit to his holdings, Warren Buffett tops our 2009 list.
In Pictures: The World's 10 Wealthiest CEOs Being a CEO isn't what it used to be. Crackdowns on corporate frills like private jets and over-the-top offices have become the norm, taking some of the fun--but none of the stress--out of running billion-dollar businesses.
While some chief executives' jobs may be in peril, these 10 have stuck it out long enough to partake in what's left of the global economy. These have made our annual list of the world's wealthiest CEOs.
In Pictures: The World's 10 Wealthiest CEOs
To compile our list for 2009, we looked at chief executive officers and managing directors (a title that sometimes denotes the top leadership position at corporations outside the U.S.) of public companies the world over and ranked them according to the size of their stakes in the businesses they run.
Due to the difficulty of pinning down private holdings in the midst of volatile market swings, we excluded CEOs of private companies from our rankings. We also excluded individuals' private holdings. Full net-worth estimates will be available in March, when we release our annual list of the world's billionaires.
This year's wealthiest chief executive, for the second year in a row, is Warren Buffett. The Oracle of Omaha trounced the competition, his stake in Berkshire Hathaway (nyse: BRK - news - people ) worth $35.9 billion, nearly double that of his runner-up, Oracle (nasdaq: ORCL - news - people ) founder, Larry Ellison. (Fortunately for both, Bill Gates' decision nine years ago to cede control of Microsoft (nasdaq: MSFT - news - people ) to long-time business associate Steve Ballmer--also one of our 10 wealthiest--disqualifies him from our list).
Berkshire's diversification and conservative basket of businesses served it well in 2008. The company's shares fell by 32% last year compared with the S&P 500, which declined 38%.
Ellison lost an estimated $5.3 billion on paper since we locked in prices for our 2008 Forbes 400 rankings in early fall. Still, Oracle is weathering the storm better than most, falling just 15% in the past 12 months and growing its revenues by 10% in the six months ended Nov. 30, 2008. The Chicago native has been Oracle's front man since the software giant was founded in 1977.
Four Indians made it onto our list this year: two industrialists, Mukesh Ambani and Lakshmi Mittal; and two telecom tycoons, Anil Ambani and Sunil Mittal. The Ambani brothers owe their hefty fortunes, in part, to inheritance. Following their father's death in 2002, they took over his industrial empire and attempted to run it together.
The collaboration soon soured. After coming to blows over who ran the company, the two reached a bitter compromise, deciding that they and the company would best be served by spinning off and divvying up its various businesses. Today Mukesh runs petrochemicals giant Reliance Industries Ltd., while Anil oversees an array of companies including Reliance Communications, a phone and Internet outfit with 60 million customers. (Lakshmi Mittal and Sunil Mittal are not related.)
This year's most notable drop-off is one of last year's most high-profile casualties: Sheldon Adelson, who injected $1 billion into Las Vegas Sands (nyse: LVS - news - people ) last fall in an effort to revive the troubled casino company. He has watched his shares plunge 95% since the beginning of 2008. His stake, worth $35 billion in late 2007, is worth perhaps $1.5 billion today.
www.forbes.com/2009/01/28/warren-buffett-larry-ellison-business-billionaires-0128_billionaire_ceos.html
No. 4: Lakshmi Mittal
ArcelorMittal
Value of stake: $13.2 billion
Indian steel magnate Lakshmi Mittal used a slew of acquisitions to parlay ArcelorMittal into the world's leading steelmaker by output. The 58-year-old consistently has ranked among the top five wealthiest people in the world, but his public holdings of ArcelorMittal took a dive in the second half of 2008, falling 73% since June.
Forbes 2009 = Lakshmi N. Mittal
CEO/Chairman of the Board/Director/Founder/Other Corporate Officer
ArcelorMittal ADS (New)
Luxembourg , LU
Sector: BASIC MATERIALS / Steel & Iron
Director , Goldman Sachs Group, Incorporated
New York , NY
Sector: FINANCIAL / Diversified Investments
Director , ICICI Bank Ltd. ADS
Mumbai , II
Sector: FINANCIAL / Foreign Money Center Banks
56 Years Old
Lakshmi N. Mittal, is the Chairman of the Board of Directors and Chief Executive Officer of Mittal Steel. He is the founder of Mittal Steel and has been responsible for its strategic direction and development. He is also a non-executive director of Mittal Steel South Africa, an executive committee member of the International Iron and Steel Institute, a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum's International Business Council, a director of ICICI Bank Ltd. and is on the Advisory Board of the Kellogg School of Management in the United States. Mr. Mittal was awarded Fortune magazine's "European Businessman of the Year 2004" and was named "Entrepreneur of the Year" by The Wall Street Journal. He was previously named Steel Maker of the Year in 1996 by New Steel, a leading industry publication, and was awarded the 8th honorary Willy Korf Steel Vision Award, the highest recognition for worldwide achievement in the steel industry. The award was presented by American Metal Market and World Steel Dynamics. Mr. Mittal has been chosen for the 2007 Dwight D. Eisenhower Global Leadership Award.
Forbes Rankings
4th on the Forbes World's Richest People in 2008
2nd on the India's Richest in 2008
Goldman Sachs Group - 23rd on the Forbes Global 2000 in 2008
5th on the Forbes World's Richest People in 2007
1st on the India's Richest in 2007
See All Rankings >
Compensation for 2006
Salary $2,005,000.00
Bonus $0.00
Other Annual Compensation $0.00
Long term incentive plan payouts $0.00
Restricted stock awards $0.00
Security underlying options $0.00
All other compensation $0.00
Option awards $ $0.00
Non-equity incentive plan compensation $0.00
Change in pension value and nonqualified deferred compensation earnings $0.00
Total Compensation $2,005,000.00
people.forbes.com/profile/lakshmi-n-mittal/6998
Erin Gell and Duncan Greenberg, 01.28.09,
Despite a sharp hit to his holdings, Warren Buffett tops our 2009 list.
In Pictures: The World's 10 Wealthiest CEOs Being a CEO isn't what it used to be. Crackdowns on corporate frills like private jets and over-the-top offices have become the norm, taking some of the fun--but none of the stress--out of running billion-dollar businesses.
While some chief executives' jobs may be in peril, these 10 have stuck it out long enough to partake in what's left of the global economy. These have made our annual list of the world's wealthiest CEOs.
In Pictures: The World's 10 Wealthiest CEOs
To compile our list for 2009, we looked at chief executive officers and managing directors (a title that sometimes denotes the top leadership position at corporations outside the U.S.) of public companies the world over and ranked them according to the size of their stakes in the businesses they run.
Due to the difficulty of pinning down private holdings in the midst of volatile market swings, we excluded CEOs of private companies from our rankings. We also excluded individuals' private holdings. Full net-worth estimates will be available in March, when we release our annual list of the world's billionaires.
This year's wealthiest chief executive, for the second year in a row, is Warren Buffett. The Oracle of Omaha trounced the competition, his stake in Berkshire Hathaway (nyse: BRK - news - people ) worth $35.9 billion, nearly double that of his runner-up, Oracle (nasdaq: ORCL - news - people ) founder, Larry Ellison. (Fortunately for both, Bill Gates' decision nine years ago to cede control of Microsoft (nasdaq: MSFT - news - people ) to long-time business associate Steve Ballmer--also one of our 10 wealthiest--disqualifies him from our list).
Berkshire's diversification and conservative basket of businesses served it well in 2008. The company's shares fell by 32% last year compared with the S&P 500, which declined 38%.
Ellison lost an estimated $5.3 billion on paper since we locked in prices for our 2008 Forbes 400 rankings in early fall. Still, Oracle is weathering the storm better than most, falling just 15% in the past 12 months and growing its revenues by 10% in the six months ended Nov. 30, 2008. The Chicago native has been Oracle's front man since the software giant was founded in 1977.
Four Indians made it onto our list this year: two industrialists, Mukesh Ambani and Lakshmi Mittal; and two telecom tycoons, Anil Ambani and Sunil Mittal. The Ambani brothers owe their hefty fortunes, in part, to inheritance. Following their father's death in 2002, they took over his industrial empire and attempted to run it together.
The collaboration soon soured. After coming to blows over who ran the company, the two reached a bitter compromise, deciding that they and the company would best be served by spinning off and divvying up its various businesses. Today Mukesh runs petrochemicals giant Reliance Industries Ltd., while Anil oversees an array of companies including Reliance Communications, a phone and Internet outfit with 60 million customers. (Lakshmi Mittal and Sunil Mittal are not related.)
This year's most notable drop-off is one of last year's most high-profile casualties: Sheldon Adelson, who injected $1 billion into Las Vegas Sands (nyse: LVS - news - people ) last fall in an effort to revive the troubled casino company. He has watched his shares plunge 95% since the beginning of 2008. His stake, worth $35 billion in late 2007, is worth perhaps $1.5 billion today.
www.forbes.com/2009/01/28/warren-buffett-larry-ellison-business-billionaires-0128_billionaire_ceos.html
No. 4: Lakshmi Mittal
ArcelorMittal
Value of stake: $13.2 billion
Indian steel magnate Lakshmi Mittal used a slew of acquisitions to parlay ArcelorMittal into the world's leading steelmaker by output. The 58-year-old consistently has ranked among the top five wealthiest people in the world, but his public holdings of ArcelorMittal took a dive in the second half of 2008, falling 73% since June.
Forbes 2009 = Lakshmi N. Mittal
CEO/Chairman of the Board/Director/Founder/Other Corporate Officer
ArcelorMittal ADS (New)
Luxembourg , LU
Sector: BASIC MATERIALS / Steel & Iron
Director , Goldman Sachs Group, Incorporated
New York , NY
Sector: FINANCIAL / Diversified Investments
Director , ICICI Bank Ltd. ADS
Mumbai , II
Sector: FINANCIAL / Foreign Money Center Banks
56 Years Old
Lakshmi N. Mittal, is the Chairman of the Board of Directors and Chief Executive Officer of Mittal Steel. He is the founder of Mittal Steel and has been responsible for its strategic direction and development. He is also a non-executive director of Mittal Steel South Africa, an executive committee member of the International Iron and Steel Institute, a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum's International Business Council, a director of ICICI Bank Ltd. and is on the Advisory Board of the Kellogg School of Management in the United States. Mr. Mittal was awarded Fortune magazine's "European Businessman of the Year 2004" and was named "Entrepreneur of the Year" by The Wall Street Journal. He was previously named Steel Maker of the Year in 1996 by New Steel, a leading industry publication, and was awarded the 8th honorary Willy Korf Steel Vision Award, the highest recognition for worldwide achievement in the steel industry. The award was presented by American Metal Market and World Steel Dynamics. Mr. Mittal has been chosen for the 2007 Dwight D. Eisenhower Global Leadership Award.
Forbes Rankings
4th on the Forbes World's Richest People in 2008
2nd on the India's Richest in 2008
Goldman Sachs Group - 23rd on the Forbes Global 2000 in 2008
5th on the Forbes World's Richest People in 2007
1st on the India's Richest in 2007
See All Rankings >
Compensation for 2006
Salary $2,005,000.00
Bonus $0.00
Other Annual Compensation $0.00
Long term incentive plan payouts $0.00
Restricted stock awards $0.00
Security underlying options $0.00
All other compensation $0.00
Option awards $ $0.00
Non-equity incentive plan compensation $0.00
Change in pension value and nonqualified deferred compensation earnings $0.00
Total Compensation $2,005,000.00
people.forbes.com/profile/lakshmi-n-mittal/6998