Yoshita Singh Boston, Sep 12 Indian business tycoon Mukesh Ambani could be the richest man on earth in 2014 with a net worth of USD 62 billion, pipping Mexican billionaire businessman Carlos Slim, according to a forecast by the prestigious Forbes magazine. "One of the predictions is that Reliance Industries'' chief Ambani, who currently has a net worth of USD 29 billion, pips the world''s richest man Mexican businessman Carlos Slim to top Forbes'' rich list in 2014," it said.
Ambani''s net worth swells to USD 62 billion while Slim is "hit hard by Mexican political, financial chaos," according to the prediction by Forbes. 53-year-old Ambani currently ranks fourth on Forbes'' list of the world''s billionaires.
Forbes has listed a number of events that could happen over the next 10 years in the field of politics, energy, medicine, finance, society and technology. The publication asked its staff and contributors to forecast some of the "noteworthy events" till 2020.
"A vision of the coming decade sketched from real data, projections and facts whenever possible -- though we''ve injected a dose of rigorous science fiction to fill the gaps," Forbes said about its special 2020 report called ''What Happens Next -- Our Look Ahead''. Another forecast in the field of finance and economics is of fraudster Bernard Madoff''s death in his prison cell in 2011.
The convicted Ponzi-scheme perpetrator is found hanging in his cell and "prison officials will not rule out foul play," according to the Forbes forecast. "Futurism favours the bold.
Look more than 30 years ahead.
and critics will forgive your inaccuracies.
We''ve attempted a thought experiment with far tougher standards: predicting the future that''s just around the corner," Forbes said. In 2012, social networking site Facebook debuts on NASDAQ. Its IPOs value USD 40 billion and founder Mark Zuckerberg becomes the first 20-something who is worth USD 10 billion-plus.
Then by 2020, Wal-mart employs five million people worldwide and its sales pass the one trillion dollar mark. The company "cites successful India and Brazil expansions" for the landmark.
In 2017, Harvard endowment doubles in seven years to USD 50 billion. It offers free tuition to lure top students from China.
The US job scene finally improves in 2018 as unemployment drops below seven per cent and worst of quadruple-dip recession is likely over, Forbes predicts. PTI YAS KIM AKJ.
Ambani''s net worth swells to USD 62 billion while Slim is "hit hard by Mexican political, financial chaos," according to the prediction by Forbes. 53-year-old Ambani currently ranks fourth on Forbes'' list of the world''s billionaires.
Forbes has listed a number of events that could happen over the next 10 years in the field of politics, energy, medicine, finance, society and technology. The publication asked its staff and contributors to forecast some of the "noteworthy events" till 2020.
"A vision of the coming decade sketched from real data, projections and facts whenever possible -- though we''ve injected a dose of rigorous science fiction to fill the gaps," Forbes said about its special 2020 report called ''What Happens Next -- Our Look Ahead''. Another forecast in the field of finance and economics is of fraudster Bernard Madoff''s death in his prison cell in 2011.
The convicted Ponzi-scheme perpetrator is found hanging in his cell and "prison officials will not rule out foul play," according to the Forbes forecast. "Futurism favours the bold.
Look more than 30 years ahead.
and critics will forgive your inaccuracies.
We''ve attempted a thought experiment with far tougher standards: predicting the future that''s just around the corner," Forbes said. In 2012, social networking site Facebook debuts on NASDAQ. Its IPOs value USD 40 billion and founder Mark Zuckerberg becomes the first 20-something who is worth USD 10 billion-plus.
In 2017, Harvard endowment doubles in seven years to USD 50 billion. It offers free tuition to lure top students from China.
The US job scene finally improves in 2018 as unemployment drops below seven per cent and worst of quadruple-dip recession is likely over, Forbes predicts. PTI YAS KIM AKJ.
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| Exterior Antilla, the partially completed home of Mumbai-based petrochemicals giant Reliance Industries head Mukesh Ambani, will stand 27 stories high and is expected to cost $2 billion. Ambani, the fifth richest man in the world , his wife and three children currently live in a 22-story Mumbai tower the family has spent years remodeling and refashioning to meet its needs |
Anil Agarwal set to pip Mukesh Ambani as richest Indian
New Delhi, Aug 22 (PTI) The proposed takeover of Cairn Energy''s India business could see NRI billionaire Anil Agarwal emerging as the richest promoter of a corporate house ahead of Mukesh Ambani, who has ruled the list for long. After the acquisition of Cairn India and a proposed IPO of group firm Sterlite Energy, Anil Agarwal, as head of the promoter family, would command an estimated networth of close to Rs 1,67,000 crore, ahead of Mukesh Ambani at Rs 1,45,275 crore, a comparison of promoter family holding valuations for leading groups reveals.
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| Ballroom The most striking features of the Antilla ballroom are the crystal chandeliers that will take up approximately 80% of the ceiling. The silver stairways lead to a central landing, behind which tw o retractable doors can open to display works of art. There is also a stage for entertainment or speeches, with a projection screen behind it . A kitchen, about the same size as the ballroom itself, can service hundreds of guests. |
In their own respective fields of business, Agarwal is a global leader in the metals and mining, while Mukesh is among the top-ranked international players in the fields of petrochemicals and largest private sector oil group in India. Agarwal is now entering oil business through the Cairn India acquisition and his capacity to play to the size could now make competition intense in oil sector.
At the same time, the acquisition would give the Agarwal family double the size of Anil Ambani group (whose promoter wealth currently stands at less than Rs 80,000 crore). The USD 9.6 billion takeover of Cairn India has already pushed Vedanta group head Anil Agarwal to the second position after Mukesh Ambani in terms of family net worth, measured in terms of value of shares held as promoters in five listed group companies.
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| Lobby Nine elevators dot the lobby floor: Two are designated for parking areas , three for guest quarters, two for the Ambani family residences and two for service. The lobby opens to numerous lounges, reception areas and powder rooms. Dual stairways lead from the lobby floor down to the ballroom , which is designed in an open layout with a two-story roof. |
Without Sterlite Energy, which has proposed an initial public offer of Rs 5,100 crore, and Balco, where Vedanta group has 51 per cent stake, the total promoter family networth of the Vedanta group currently stands at Rs 1,38,465 crore. This includes the value of promoter shares in Sterlite, Hindustan Zinc, Sesa Goa (all listed in India) and that in UK-listed Vedanta Resources, as also the worth of proposed 60 per cent stake in Cairn India proposed to be purchased from Scotland-based Cairn Energy.
The total networth would rise by over Rs 28,000 crore if Balco is taken at par with its peer group company Nalco, which has a market cap of Rs 25,830 crore, and the group offloads 25 per cent stake in Sterlite Energy to raise Rs 5,100 crore. MORE PTI BJ RHP KM.
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