London: The credit crunch seems to be taking its toll on one of the world's richest Indians Lakshmi N Mittal, who has put up one of his mansions in central London up for sale. The steel tycoon had bought the property on Palace Green in Kensington for 117 million pounds in 2008, when it was declared the most expensive home in Britain. However, according to the 'Sunday Times', he may end up making a loss on the neo-Georgian building after it went on the market earlier this month for 110 million pounds.
The 12-bedroom palatial home was bought for Mittal's son, Aditya, from Israeli-American financier Noam Gottesman. The entire first floor of the 14,736 square feet property is dedicated to the master bedroom quarters, with a separate wing referred to as "Mrs Mittal's dressing room".
But Aditya, who is the chief financial officer of the family-owned steel firm ArcelorMittal, and his family reportedly never moved into the new mansion. While the house does not have a swimming pool, it comes with planning permission for basement work and has a dedicated storage room for art, a flower room, a silver room and tutorial and homework rooms for children.
Lakshmi Mittal himself lives nearby at Kensington Palace Gardens, dubbed as London's "billionaire's row" with neighbours including fellow tycoons such as Roman Abramovich and Len Blavatnik, ranked ahead of Mittal in this year's 'Sunday Times Rich List'....
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09:50 PM, May 26, 2013
London: India's leading industrialist brothers, Mukesh and Anil Ambani, have been together listed as 20th richest in the world in the Sunday Times Rich List 2013. The brothers, who have separate industrial empire in India, have been clubbed together under the category of Petrochemicals and they are jointly assessed worth 17 billion pounds as against 19 billion pounds in 2012. The Hinduja brothers, Srichand and Gopichand Hinduja, Chairman and Co-Chairman...
12:59 PM, Apr 21, 2013
Liquor baron Vijay Mallya has been moved out of Forbes' global rich list of 1,226 billionaires, even as the number of Indians in this elite club has grown since last year. With a net worth of USD one billion, Mallya was ranked 45th among 48 Indians on this annual rich list in March 2012, while he was placed at 1,153rd position globally. ...
06:00 PM, Mar 05, 2013
The Spanish champions became the first sports team anywhere to break the 500m Euro revenue barrier as they stayed ahead of Barcelona in the Football Money League. ...
08:43 AM, Jan 24, 2013
New York: Liquor baron Vijay Mallya, often referred to as 'King of good times', has lost his billionaire tag as "bad times" in his aviation business have dragged down his net worth to below the $ 1 billion mark. According to Forbes magazine's India rich list released on Thursday, Mallya is now ranked 73rd with a fortune of $ 800 million (about Rs 4,285 crore), a sharp plunge from 49th...
02:52 PM, Oct 25, 2012
New Delhi: Reliance Industries Chairman Mukesh Ambani is the country's richest man with a personal fortune of $ 21 billion, according to Forbes Magazine. Mukesh Ambani beats steel giant Lakshmi Mittal and Wipro head Azim Premji to top the Forbes's list. Lakshmi Mittal has attained the second spot with $16 billion and the third spot goes to Azim Premji. Pharma tycoon Dilip Shanghvi is the biggest gainer making an entry...
12:42 PM, Oct 25, 2012
New Delhi: Reliance Industries chairman Mukesh Ambani, with a personal fortune of $19.3 billion, is the richest Indian, China-based research firm Hurun said in a report Wednesday. Ambani is followed by Arcelor-Mittal chief LN Mittal, whose wealth is pegged at $16.9 billion. In terms of personal fortune, Ambani and Mittal are followed by Azim Premji of Wipro ($12.3 billion), Dilip Shanghvi of Sun Pharmaceuticals ($8.5 billion), Pallonji Mistry of Shapoorji...
02:11 PM, Oct 11, 2012
London: Indian steel tycoon Lakshmi Mittal and his family retained their top spot as Britain's richest for the seventh year in succession while the combined worth of the country's 1000 wealthiest individuals defied double-dip recession to reach record levels during the last year. Mittal, 61, and his family's worth came down by 4,814 million pounds, but they were still the richest in Britain with a net worth of 12.7 billion...
04:43 AM, Apr 29, 2012
London: Real Madrid and Barcelona are soccer's biggest moneymakers for the third straight year and look set to top their rivals for the foreseeable future. The annual review of soccer finance by Deloitte shows Madrid topping the list for the seventh straight year with revenue of $636.5 million for the year ending June 30, an increase of 9 percent from the previous 12 months. English champions Manchester United were again...
02:39 PM, Feb 09, 2012
"There comes a tide in the affairs of men," Shakespeare cautioned. Tsunami warnings are now ringing about the global economy. The global financial system is under stress. Economic growth is stumbling. Confidence in governments is decreasing everywhere. Multilateral institutions like the WTO (World Trade Organization) and IMF (International Monetary Fund), created to promote global integration and stability, are ineffective. Communism was declared dead with the fall of the Berlin Wall....
11:14 AM, Nov 18, 2011
Reflecting the global turmoil, the fortunes of a majority of the richest Indians fell this year. Even then, 15 individuals managed to break into his exclusive club. Oh, the ways of wealth! After two years of unprecedented richness, the 100 richest people in India have turned poorer in 2011. With the volatile Sensex losing more than 20 percent since we last compiled the list, Indias wealthiest saw their total fortune...
10:51 AM, Nov 15, 2011
Uday Kotak Age: 52 Profile: Founder of Kotak Mahindra Bank and Indias first billionaire banker. Rich List Rank: 15 Wealth: $ 3.6 billion His Strength: -Building a team that enjoys what it does. -During every crisis, the entire top team would huddle together like a cricket team To see how far Uday Kotak has come, you dont have to go to his office at Nariman Point, Mumbai. Go instead to...
10:25 AM, Nov 11, 2011
Name: Irfan Razack Age: 58 Profile: CEO of Bangalore-based Prestige Constructions, a company promoted by his family Rich List Rank: 87 Wealth: $ 550 million Did You Know? The Razack family got into the real estate business while looking to buy property to avoid being taxed after the sale of their family home in the 1980s. It was 4:20 pm on an October evening in 2008, in Bangalores Whitefield suburb,...
12:33 PM, Nov 08, 2011
Ajay Kalsi Age: 49 Profile: Founder and chief executive of London-listed oil and gas outfit Indus Gas Rank: 38 Wealth: $ 1.39 billion Did you know? He is building a new wave pool for his daughter who is fond of swimming. The pool is about the size of four Olympic pools. Ajay Kalsi of Indus Gas is known in Indian oil and gas circles as a maverick with passion. The...
12:12 PM, Nov 08, 2011
New Delhi: Mukesh Ambani has got the company of at least 29 fellow corporate executives, including four from his own group Reliance Industries, in terms of annual salaries running into crores of rupees for the latest fiscal. These include JSW Energy's Sajjan Jindal, Hindustan Construction's Ajit Gulabchand, Raymond's Gautam Hari Singhania, ICICI Bank's Chanda Kochhar, Axis Bank's Shikha Sharma, as also Infosys' S Gopalakrishnan and SD Shibulal. Companies are currently...
11:11 AM, May 29, 2011
NEW YORK: Things are on the up for U.S. billionaires with more than half of them adding to their net worth in a year which once again saw Bill Gates as the richest of them all, Forbes magazine said on Wednesday. Gates, founder of Microsoft, was the richest person in the United States for the 17th year in a row with an estimated worth of $ 54 billion, up $...
10:27 AM, Sep 23, 2010
Ananda Krishnan with a net worth of $ 8.1 billion retained his second place after Malaysian Chinese Robert Kuok. ...
10:45 AM, May 27, 2010
The rich in India are richer, but what's the purpose of having all that wealth? ...
02:30 PM, Nov 23, 2009
