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Sunday Times Rich List 2004

 
 
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paul
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PostPosted: Sun Apr 18, 2004 11:52 am    Post subject: Sunday Times Rich List 2004 Reply with quote

Hi all

For those of you that don't know, the Sunday Times here in the UK produce a 'rich list' each year, detailing Britain's richest people.

Britain's richest people have seen their wealth increase by almost 30% in the past year, the highest rise since The Sunday Times Rich List began 16 years ago. The top 1,000 have accumulated more than 200 billion between them. In the past 12 months their fortunes have increased at 15 times the current rate of inflation.

The wealth explosion is partly explained by the property boom and the return of favourable trading on the stock market, but Britain has also become a magnet for foreign billionaires attracted by its sympathetic tax regime.

This year's top ten are:

1 Roman Abramovich 7,500m
2 The Duke of Westminster 5,500m
3 Hans Rausing and family 4,950m
4 Philip Green 3,610m
5 Lakshmi Mittal 3,500m
6 Sir Richard Branson 2,600m
7 Kirsten and Jorn Rausing 2,575m
8 Bernie and Slavica Ecclestone 2,323m
9 Charlene and Michel de Carvalho 2,260m
10 David and Simon Reuben 2,200m

The 20 fastest growing fortunes are:

1. Roman Abramovich
Business: Oil, football and investments Started: 1987 Net worth: 7,500m
Average annual growth rate: 441.2m (New entry)
2. Philip Green
Business: Retailing Started: 1992 Net worth: 3,610m
Average annual growth rate: 300.8m (Average to last year: 168.2m)
3. Lakshmi Mittal
Business: Steel Started: 1976 Net worth: 3,500m
Average annual growth rate: 125m (Average to last year: 48.5m)
4. Boris Berezovsky
Business: Finance Started: 1989 Net worth: 1,800m
Average annual growth rate: 120m (Average to last year: 71.4m)
5. David & Simon Reuben
Business: Property and metal trading Started: 1977 Net worth: 2,200m
Average annual growth rate: 81.5m (Average to last year: 80.8m)
6. Bernie and Slavica Ecclestone
Business: Motor racing Started: 1974 Net worth: 2,323m
Average annual growth rate: 77.4m (Average to last year: 82.8m)
7. John Caudwell
Business: Mobile phones Started: 1987 Net worth: 1,280m
Average annual growth rate: 75.3m (Average to last year: 52.5m)
8. Sir Richard Branson
Business: Transport and mobile phones Started: 1969 Net worth: 2,600m
Average annual growth rate: 74.3m (Average to last year: 36.8m)
9. James Dyson
Business: Household appliances Started: 1993 Net worth: 800m
Average annual growth rate: 72.7m (Average to last year: 36m)
10. Joanne Rowling
Business: Novels Started 1997 Net worth: 435m
Average annual growth rate: 62.1m (Average to last year: 46.7m)
11. Sir Terry Matthews
Business: Telecommunications and hotels Started: 1986 Net worth: 1,110m
Average annual growth rate: 61.7m (Average to last year: 35.9m)
12. Mike Ashley
Business: sports goods Started 1997 Net worth: 400m
Average annual growth rate: 57.1m (Average to last year: 58.3m)
13. John Fredriksen
Business: Shipping Started: 1985 Net worth: 1,050m
Average annual growth rate: 55.3m (Average to last year: 26.4m)
14. David Bromilow
Business: Sports goods Started: 1991 Net worth: 700m
Average annual growth rate: 53.8m (Average to last year: 50m)
15. Johan Eliasch
Business: Investments and sports goods Started: 1995 Net worth: 345m
Average annual growth: 38.3m (Average to last year: 37.4m)
16. Clive Calder
Business: Music Started: 1971 Net worth: 1,235m
Average annual growth rate: 37.4m (new entry)
17. Stelios Haji-Ioannou
Business: Airline Started: 1995 Net worth: 300m
Average annual growth rate: 33.3m (Average to last year: 30.9m)
18. Philippe Foriel-Destezet
Business: Recruitment services Started: 1964 Net worth: 1,310m
Average annual growth rate: 32.8m (Average to last year: 29.8m)
19. Eddie and Sol Zakay
Business: Property Started: 1991 Net worth: 410m
Average annual growth rate: 31.5m (Average to last year: 28.3m)
20. Urs Schwarzenbach
Business: Finance Started: 1977 Net worth: 847m
Average annual growth rate: 31.4m (Average to last year: 30.8m)

I was quite surprised by the breakdown of the rich list which states:

1,022 men
78 women
751 of the richest 1,000 entries are self-made millionaires
249 inherited their wealth

There are ...
190 in land and property
120 in industry, metal bashing, engineering, steel making
104 in banking, insurance, stockbroking, finance
85 in retailing (not food)
74 in media, television and films, publishing, novels
69 in food retailing, food production, drinks
62 in computers, software, telecoms, mobile phones
62 in construction, housebuilding
59 in hotels, leisure, health and fitness, sport
44 in music
37 in car sales, wholesaling, distribution
31 in business services, recruitment, office support
29 in transport
26 in pharmaceuticals, healthcare
8 in internet services
There are 39 new entries worth 100m or more and 109 worth less than 100m
The oldest person in the list is Sir Julian Hodge, 99, who with his family has a fortune of 48m, and the youngest is Nina Hagen, 22, who is worth 225m

The things that surprise me are the ratio of men to women - that's a HUGE difference. Also, I expected a great proprotion to be due to inherited wealth. And I expected there to be more than just 8 associated with internet services.

According to Forbes, I think it is, the 50 richest in the world are:

1 Robson Walton America Retail (Wal-Mart) 54.2bn 54.6bn
2 Bill Gates America Software (Microsoft) 25.3bn 26.9bn
3 Warren Buffett America Investments 23.3bn 20.2bn
4 Karl & Theo Albrecht Germany Supermarkets 22.3bn 16.9bn
5 Forrest Jr & John Mars America Confectionery 16.9bn 19.8bn
6 King Fahd Saudi Arabia Oil 13.5bn 13.2bn
7 Barbara Cox Anthony and Anne Cox Chambers America Media 12.1bn 13.6bn
8 Prince Alwaleed Saudi Arabia Investments 11.6bn 11.7bn
9 Paul Allen America Software (Microsoft) 11.4bn 13.3bn
10= Sheikh of Abu Dhabi Abu Dhabi Oil, investments 10.8bn 10.5bn
10= Johanna Quandt Germany Cars (BMW) 10.8bn 8.6bn
12 Liliane Bettencourt France Cosmetics 10.2bn 9.6bn
13 Larry Ellison America Computers (Oracle) 10.1bn 10.9bn
14 Ingvar Kamprad Sweden Retail (Ikea) 10bn 8.6bn
15 Kenneth Thomson Canada Media, oil 9.3bn 9.3bn
16 Samuel & Donald Newhouse America Publishing 8.3bn 10.2bn
17 Robert & Thomas Pritzker America Hotels, investments 8.2bn 10bn
18= Emir of Kuwait Kuwait Oil 8.1bn 8bn
18= Mikhail Khodorkovsky Russia Oil 8.1bn 5.3bn
20 Abigail & Edward Johnson America Investments 8bn 8.1bn
21 Sultan of Brunei Brunei Oil 7.7bn 7.3bn
22= Roman Abramovich UK Oil, investments 7.5bn new
22= Carlos Slim Helu Mexico Telecoms 7.5bn 4.9bn
24 Michael Dell America Computers (Dell) 7bn 6.5bn
25= Steve Ballmer America Software (Microsoft) 6.7bn 7.3bn
25= The Brenninkmeyer family Holland Retail 6.7bn 4.5bn
25= Li Ka-shing Hong Kong Industry 6.7bn 5.2bn
28 Bernard Arnault France Luxury goods 6.6bn 4.4bn
29 The Kwok brothers Hong Kong Property 6.2bn 4.4bn
30 John Kluge America Media, phones 5.7bn 6.9bn
31= Silvio Berlusconi Italy Media 5.4bn 3.9bn
31= Sheikh Makhtoum UAE Oil, financial services 5.4bn 5.2bn
33= Birgit Rausing Sweden Packaging 5bn 8.5bn
33= The Duke of Westminster UK Property 5bn 4.9bn
35= Charles Ergen America Satellite TV 4.9bn 3.9bn
35= Amancio Ortega Spain Fashion 4.9bn 6.8bn
35= Hans Rausing UK Packaging 4.9bn 4.8bn
38 Sumner Redstone America Media 4.8bn 5.3bn
39= The Oeri/Hoffmann family Switzerland Pharmaceuticals 4.7bn 6.2bn
39= Stefan Persson Sweden Retail 4.7bn 4.5bn
41 Pierre Omidyar America Auctioneer (eBay) 4.6bn new
42 Nasser al-Kharafi Kuwait Packaging 4.5bn new
43= Ernesto Bertarelli Switzerland Biotechnology 4.3bn new
43= Michael Otto Germany Retail 4.3bn new
45= Rupert Murdoch America Media 4.2bn new
45= Galen Weston Canada Retail 4.2bn 4.1bn
47 Carl Icahn America Finance 4.1bn new
48= Rudolf Oetker Germany Food, shipping 4bn new
48= Samuel Johnson America Floor wax 4bn 4.9bn
50 Philip Knight America Sportswear (Nike) 3.8bn new

(first figure indicates 2004 wealth, the second figure is for 2003).

Paul
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PostPosted: Sun May 02, 2004 1:19 pm    Post subject: Reply with quote

Quote:
1 Roman Abramovich 7,500m

I'm curious. Is he a permanent resident now or he is a UK citizen?
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PostPosted: Sun May 02, 2004 3:56 pm    Post subject: Reply with quote

Yes. Well, he's certainly resident in Britain at least. A third of all London properties sold to foreigners are now bought by his countrymen, would you believe?! Shocked

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PostPosted: Mon May 03, 2004 5:57 am    Post subject: Reply with quote

Quote:
A third of all London properties sold to foreigners are now bought by his countrymen, would you believe?!

Are they all oil barons from Russia? Pretty interesting dynamics there; over the last 10 years after Russia adapted free economy, the country produced a bunch of billionaires(not millionaires, but billionaires). Now they are buying a bunch of properties around the world; who thought that something like this would happen ...?
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PostPosted: Mon May 03, 2004 11:45 am    Post subject: Reply with quote

No, that's the strange thing... apparently it's just "ordinary Russians" who have chosen to make London their home. Have a look at this article.

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PostPosted: Mon May 03, 2004 12:04 pm    Post subject: Reply with quote

It is pretty typical that, an immigrant invites his/her family members to a new country, once he/she settles in. As a result, we often see growing community of immigrants in many parts of the world. Typically, immigrants move to a country that has good economy(relatively speaking) and is immigrant friendly. So it will be one of those western countries like UK, US, Australia(?), and western European countries. Typically, they move to a city like London, Paris, New York, etc.

So now the question is why London? Why not New York? Why not Paris? Why not Amsterdam? Actually New York has pretty big Russian community, I don't know if it's bigger or smaller than London's Russian community. ... I don't know, maybe they have good gin, maybe weather is similar ... (?), Blair seems like a good person and Bush doesn't? Hmmm ...
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PostPosted: Wed May 19, 2004 4:48 am    Post subject: Reply with quote

I don't know if anyone will see this message as I am writing a month later, but just so everyone knows, David Bromilow resides in Bangkok, Thailand.

I am curious - does anyone know why he selected that city as his hub? I just came back from Bangkok and loved it, but it's not the type of place that has the glamour of other magnets for the upper class.
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PostPosted: Wed May 19, 2004 5:22 am    Post subject: Reply with quote

Quote:
I don't know if anyone will see this message as I am writing a month later, but just so everyone knows, David Bromilow resides in Bangkok, Thailand.

Are you talking about this David Bromilow?
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PostPosted: Wed May 19, 2004 6:07 am    Post subject: Reply with quote

Yes, absolutely. That's him alright.

I wonder why Bangkok?
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PostPosted: Thu May 20, 2004 2:45 am    Post subject: Reply with quote

Oh darn to be last in the poll of riches, poor #50 (note sarcasm hehe) Laughing
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PostPosted: Thu May 20, 2004 10:55 am    Post subject: Reply with quote

Quote:
I wonder why Bangkok?

I don't know how much difference it makes to people like him, but I often wonder why it's so expensive in certain parts of the world, western Europe, north America, east Asia, etc. I also wonder sometime "What if I just move to a place where everything is so much less expensive ..." I am actually looking into this currently.

I don't know, maybe David Bromilow is paranoid and thinks that he will run out of money. If he moves to Bangkok, he can live like a king for the rest of his life and do not have to worry about running out of money. ... maybe not.
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PostPosted: Thu May 20, 2004 12:54 pm    Post subject: Reply with quote

Cheaper places are great, but the standard of living and quality of life is also lower which is certainly the case in Thailand. Still, Bangkok is a great city - was there just last week.
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