Thursday, March 10, 2005
Mittal No:3 on Forbes list
Lakshmi Mittal has vaulted an incredible 59 places (yes, you read that right) to become the third wealthiest man in the word behind Bill Gates and Warren Buffet. For a brief while during the peak of the dot-com boom, Azim Premji had made it to the Forbes top 5, but that proved to be a very transient affair which ended with the busting of the bubble. I suspect Mittal's presence on the list may prove to be a more enduring affair, given the incredible growth in the steel market, something Thomas alluded to in an earlier post.
Interestingly enough, Mittal is not the only developing country presence in the top 5. Carlos Slim Helu of the Mexican telecom giant, Telmex, follows right behind Mittal at No:4, with a fortune estimated at $23.8 billion compared to Mittal's $25 billion. Carlos Slim, however, made most of his money while being based in Mexico City.
Interestingly enough, Mittal is not the only developing country presence in the top 5. Carlos Slim Helu of the Mexican telecom giant, Telmex, follows right behind Mittal at No:4, with a fortune estimated at $23.8 billion compared to Mittal's $25 billion. Carlos Slim, however, made most of his money while being based in Mexico City.
