Forbes: Billionaire Predictions 2010

Friday, January 15, 2010

Even as most billionaires saw their wealth increase in 2009 along with rising stock markets, some remain cautious and believe that 2010 will continue to test the global economy.

We queried billionaires from around the world to get their thoughts on topics ranging from global warming and the weakening dollar to the price of gold and best places to invest in 2010. Ten answered our 10-question survey, but few agreed on most subjects. Whereas nearly all of the billionaires quizzed a year ago predicted an economic recovery, this year's participants were less unanimous.

The most bullish of the group predicted double-digit stock market gains in the coming year. Time Square tycoon Leon Charney predicted a 12% return in 2010. John Catsimatidis, another American who made a fortune largely in supermarkets and gas stations, concurs, stating that the market has to go up and will probably double over the next seven years. The biggest surprise of 2010? "The market hitting 12,000," Catsimatidis said.

Others thought the recent recovery would be short-lived and that returns would be minimal. Asked what direction his country's stock market would move and what returns he anticipated, Canadian David Cheriton quipped, "Sideways at best. So, none or slightly negative."

The billionaire respondents also gave wildly varying advice when asked about the best asset to own in 2010. All but one who abstained recommended a different investment. Among their picks: high-end art, real estate, distressed debt, cash, gold and stocks. Stanford professor Cheriton, who made his billions from a chunk of Google stock he'd been given by former students Sergey Brin and Larry Page, named the Internet company's stock as the best asset. The most practical advice came from Pharmaceutical tycoon Randal J. Kirk: "The best financial assets for a person to own would be those over which he has peculiar knowledge of expertise."

While most were gold bugs calling the commodity a buy or hold, two were vocal dissenters. Hollywood producer of such films as Pretty Woman and Marley and Me, Arnon Milchan called it a "place to go when you're scared; I don't see gold as a player in a healthy economy." Concurred Dallas Mavericks owner Mark Cuban, "Gold is a religion; it's not an asset class. It is always a bubble, so I am a sell."

The question that seemed to provoke the most detailed and impassioned responses was the one asking billionaires for their thoughts on the most alarming trend facing the economy today. Answers included rising unemployment, government spending, inflation and the poor education system. "I'm particularly alarmed by the decline in our commitment to a public education that will prepare our children to navigate a society defined by science and technology," says Kirk. Catsimatidis finds alarming the dearth of lending to small and medium-sized businesses with "great credit" a sentiment echoed by Cuban, who cited President Barack Obama's administration's ignorance of how entrepreneurs start small businesses.

As for the biggest surprises, both Charney and Cheriton predicted problems for President Obama. "Obama's approval rating will drop below the lowest level Bush ever had as unemployment continues to rise," said Cheriton. Perhaps a bigger surprise would be Obama's return to favor, but no one is predicting that outcome.

On a lighter note, Cuban is betting that the biggest shocker will be the news that Tiger Woods will remarry.

Japan's 40 Richest According To Forbes

Wednesday, January 13, 2010

Japan slipped back into deflation in 2009 as the price of consumer goods slid, but a 31% stock market rebound meant ballooning fortunes for most of the country's wealthiest. Japan's 40 Richest are worth a combined $87 billion, up from $69.5 billion in February when we published the 2009 rankings. The first four tycoons accounted for two-thirds of that gain.

Topping the list for a second year was Tadashi Yanai, the retailer whose affordable Uniqlo clothing stores are drawing customers amid a belt-tightening recession. He added $3.1 billion to his fortune making him worth $9.2 billion.


But by far the biggest gainer is Nobutada Saji and his family. He is now worth $8.6 billion, more than double our previous valuation. The owner of closely held beverage maker Suntory is in talks to merge his business with bigger rival Kirin to create Asia's first drinks giant able to compete with Europe's Nestle, Anheuser-Busch InBev and SABMiller, and in the U.S., Coca-Cola. Analysts are predicting a generous deal for Saji that will value his firm at as much as 70% of Kirin's $16 billion market cap. It would make the Japanese beverage baron and his family the biggest shareholder in the merged company giving them enough voting rights to veto board decisions.

Though not as stellar as Saji's or even Yanai's rise, 24 others among the 40 wealthiest gained. Masayoshi Son owner of Japan's No. 3 mobile phone operator is up $1.7 billion. Hiroshi Mikitani, operator of Rakuten, the nation's biggest online shopping mall has $1.1 more than last year and mobile social gaming entrepreneur Yoshitaka Tanaka, nearly doubled his worth to $1.6 billion, which earns him bragging rights as Asia's youngest self-made billionaire.

Five out the top six added more than a billion dollars to their fortunes. As a result, a wealth gap between the bottom--Toyota honorary chairman Shoichiro Toyoda comes in at No. 40 with $620 million--and Yanai at the top widened.

But not everyone did well. One-fourth of the top 40 lost money in the past year. Hurt by a government crackdown on lending, consumer finance tycoons Hiroko Takei of Takefuji; Ryoichi Jinnai, founder of Promise; and Katsuhiro Kinoshita, owner of a big chunk of Acom, are all poorer. Hiroshi Yamauchi, the biggest shareholder in Nintendo, lost $700 million of his fortune as the Wii game console fad faded.

Dropping out of the rankings altogether were Tadahiro Yoshida, owner of leading zipper maker YKK, which is losing money, in part because of weakness in its construction materials division; Hirokazu Sugiura, founder of drugstore chain Sugi Pharmacy, down slightly on falling profits; and Toichi Takenaka, head of Japan's oldest construction company, which has been hit by slowing orders.

The three new entrants who replaced them include Keiichiro Takahara, founder of diaper and sanitary napkin maker Unicharm; Juichiro Takada, owner of seat belt and airbag supplier Takata; and Takao Yasuda operator of discount retail store chain Don Quijote.

Unlike our billionaires' rankings, which highlight individual fortunes, Japan's top 40 includes numerous family fortunes. The list was compiled using shareholder and financial information obtained from the families and individuals themselves, stock exchanges and analysts. Stock prices and exchange rates were locked in on Dec. 30, 2009. Private companies were valued based on comparisons with prevailing price-to-earnings or other financial ratios. Ages are as of Jan. 31.

Additional reporting by Shoko Tsuruga.

Paying Paul: Useful Information Before File for Bankcruptcy

Thursday, March 12, 2009

Many debtors have a fear of bankruptcy and they are trying to avoid it. They thought that bankruptcy is the last way that can be applied when no other method can be done to resolve the debt problem, so they will only use it when there is no other way. But if unfortunately you are really have to file for bankruptcy, you can get some useful information about debt assistance in www.payingpaul.com.

Payingpaul.com provide a lot of knowledge about the debt assistance.
First, before doing anything, you need to know the reasons why you choose to file for bankruptcy. Beside that, you also need to understand about the requirements that must be noticed when filing bankruptcy (e.g. you are not eligible to apply any credit card debt that included the purchase of luxury goods that were made within 90 days of filing). And now you can select what alternative of filing you want to choose, whether it is debt settlement or credit counseling ( for more information visit http://www.payingpaul.com/filing-bankruptcy.php).

There are two effective ways that debtors can take to request for bankruptcy, that is through Chapter 7 and Chapter 13 Personal Bankruptcy. To submit through chapter 7 bankruptcy, the debtors must first determine their average income over the 6 months before the date of filing. This average income will be used to determine whether debtors are eligible for Chapter 7 or not. Beside that, usually the type of debts that can be eliminated through Chapter 7 are credit cards, medical bills, collection accounts, and so forth (http://www.payingpaul.com/chapter-7-bankruptcy.php provides more information about this chapter). The process of filing Chapter 7 is also quite easy, that the debtors are only need to attend the meeting with the creditors.

Unlike Chapter 7, the debtors who applied through Chapter 13 bankruptcy are allowed to reorganize their debts, or they can pay some or all of their debt within 3 or 5 years. Most people prefer to filing through Chapter 7 more than through Chapter 13 (because through Chapter 7, the debtors could eliminate all of their debts), but more people are being forced to choose Chapter 13 instead of Chapter 7 since the new bankruptcy law changed in 2005. You can get the other comparison between the Chapter 13 with Debt Consolidation Loan, Debt Settlement & Negotiation, and Credit Counseling in http://www.payingpaul.com/chapter-13-bankruptcy.php

2005 New law made by the Congress has caused difficulties for consumers to file for chapter 7 and 13. The new rules said that debtors must pass the "means test" to file Chapter 7 bankruptcy if their income are more than the median income of their state. The new regulations also make Chapter 13 Personal Bankruptcy become less attractive where the new regulations require the debtors to determine their payment by
reducing "allowed expense" based on local averages from their income. Beside that, debtors who filing through Chapter 13 must pay their debts based on their average income of the past 6 months. (http://www.payingpaul.com/new-bankruptcy-laws.php can help you to understand more about this new regulations).

Payingpaul.com is a great site that provides important information about how to report a failure. This site makes all things related to the law become easier to learn. If you're new about bankruptcy filing and want to learn more, you can get useful information about that in http://www.payingpaul.com/bankruptcy.php

WORLD BILLIONAIRE: Oleg Deripaska Is The 9th Richest In The World

Tuesday, August 5, 2008

Oleg Vladimirovich Deripaska is the full name of Oleg Deripaska, a Russian billionaire who has a total net worth around US$ 28 billion. He is the 9th richest man in the world (2008).

He has a holding company named Basic Elements, which owns resource companies ( UC Rusal aluminium producer and Continental Management Timber Industrial Company), energy company (SMR mining company), financial companies (Soyuz Bank and Ingosstrakh insurance company), manufacturing companies (GAZ Group automotive company and Aviacor aircraft manufacturer), and construction companies (Glavstroy and Transstroy construction).

Billionaire's Profile:

Born : January 2, 1968

Industry type : Diversified

Residence : Moscow, Russia

Net worth : US$ 28 billion

Marital status : Married (Polina), 2 children (Petr and Marina Deripaska)

WORLD BILLIONAIRE: KP Singh is the 8th Richest In The World

Saturday, August 2, 2008

KP Singh is the biggest real estate developer in India, and reported as the 8th richest in the world.In 2007, he listed his real estate development company DLF and triple his fortune to $30 billion this year, up from $10 billion. But now he gives his children, Rajiv and Pia to operate his company. He holds 87.43 per cent of the equity of DLF.

Billionaire's Profile:

Born : August 15, 1931 in Bulandshahar, Uttar Pradesh

Residence : Delhi, India

Occupation : Founder and Chairman of DLF

Wife : Premlata Devi

Children : Three

Net worth : US$ 30 billion (2008)

WORLD BILLIONAIRE: Ingvar Kamprad Is The 7th Richest In The World

Tuesday, July 29, 2008

Kamprad is the 7th richest in the world, with a net worth of around US$ 31 billion. He is the founder of IKEA (has stores in 40 countries), the home furnishing retail chain company. Although he has much money, he avoids wearing suits, flies economy class and frequents cheap restaurants. Now Kamprad is the chairman of INGKA Foundation, his charitable foundation which has an estimated value of around US$ 3 billion in 2006.

Billionaire's Profile:

Born : March 30, 1926, Ljungby, Sweden

Occupation : Owner of IKEA

Spouse : Margaretha

Children : Peter, Jonas, Matthias

Net worth : US$ 31 billion (2008)

WORLD BILLIONAIRE: Anil Ambani Is The 6th Richest In The World

Monday, July 28, 2008

Anil Ambani is an Indian businessman with a net worth approximately US$ 42 billion, and reported as the 6th richest man in the world. The brother of Mukesh Ambani, is the biggest gainer in the world, and his fortune up US$ 23.8 billion last year. Now he is the Chairman of Reliance Capital, Reliance Communication; Chairman and Managing director of Reliance Energy; formerly Vice Chairman and Managing Director of Reliance Industries Limited. His biggest asset is in telecom venture Reliance Communications (65% stake).

He is a good businessperson, and credited with having pioneered many financial innovations in the Indian capital markets.

Billionaire's Profile:

Born : June 4, 1959, Mumbai, India

Residence : Mumbai, India

Occupation :Chairman of Reliance Capital, Reliance Communication; Chairman and Managing director of Reliance Energy; formerly Vice Chairman and Managing Director of Reliance Industries Limited


Spouse : Tina Munim

Children : Two

Net worth : US$ 42 billion (2008)