[spadival]

Originally Posted by lancer80

Quite surprised I didn't see Ratan Tata's name up there. Where does he stand?

Tata's themselves have very little or no shareholding in the group companies. Controlling shares are owned by Tata sons private limited, which in turn has 2 Tata "charitable" trusts as majority shareholders.

Maybe these charitable trusts are very low profile and media shy like Ratan Tata, but I have hardly seen or heard anything about any charitable activities from them.

[v1p3r]

Originally Posted by spadival

Maybe these charitable trusts are very low profile and media shy like Ratan Tata, but I have hardly seen or heard anything about any charitable activities from them.

2/3rds of Tata Sons' investment profits go to charity/socially beneficial causes. These include TISS, TIFR, IISc, and the Sir Ratan Tata Trust, to name a few.

[BaCkSeAtDrIVeR]

Tatas run a small charitable hospital at Chottinakara - near Ernakulam. I am sure they will be running more at several other places. Just an example of their charity.

I would like to mention that the "wealth" measured here is market value of your investments / share holding. If I hold 10 shares in a company valued at 10 rupees, my "wealth" is 10 x 10 = 100 rupees. When the market price goes up by 5 rupees, to become Rs. 15, my "wealth" becomes 150 rupees. But if the share holder of the company is a trust, of which I am the trustee, my "wealth" is zero. I guess that is why Tatas are not mentioned in this list.

[DocG]

Originally Posted by Centro-P

Aaah but I think that's exactly how they became so rich in the first place. They know the value of money. If they didn't and if they spent it as soon as they got an extra buck in their pocket, they wouldn't be so rich. And Mallaya, didn't he get his money from his dad, maybe that's why he spends it like crazy, not that there is anything wrong with it. Otoh Premji and Murthy made it themselves. So they are a bit more conservative with it.

HMMM Premji still travels economy class! Some say that's why they remain rich.
BTW everyone talks about Mallya having this, that and living life "king size"
YEs he does that, but do you also know that he's up at 3 or 4 am and is already working...the man might be at all the parties, but he ends up doing work wherever he is. I remember in Goa, i checked out his office on the Empress, it is HUGE and he is hooked up with all his "people" via satellite...he works really hard, he doesn't really get to enjoy life as much as people think

Originally Posted by BaCkSeAtDrIVeR

Tatas run a small charitable hospital at Chottinakara - near Ernakulam. I am sure they will be running more at several other places. Just an example of their charity.

I would like to inform people about Tata Memorial Hospital here in Parel, Mumbai. TMH is one of the leading cancer research centres and care facilities in India today, and the amount of money invested in it by the JRD trust every year is phenominal. Being in the profession that I am in, I know the approximate figure, and let me assure you that it's enough to buy 100s of your favorite supercars!
Also Ratan doesn't care about personal wealth he wants TATA to be a true international brand...the Indian Rennaissance Man!

[esteem_lover]

Originally Posted by appuchan

And the richest 20 Indians with their corresponding world rankings

1. 4 Lakshmi Mittal
2. 5 Mukesh Ambani
3. 6 Anil Ambani
4. 8 KP Singh
5. 43 Shashi & Ravi Ruia
6. 60 Azim Premji
7. 64 Sunil Mittal & family
8. 76 Kumar Birla
9. 86 Ramesh Chandra
10. 91 Gautam Adani
11. 110 Savitri Jindal & family
12. 164 Anil Agarwal
13. 178 Adi Godrej & family
14. 198 G M Rao
15. 236 Indu Jain
16. 260 Dilip Shanghvi
17. 277 Jaiprakash Gaur
18. 277 Shiv Nadar
19. 288 Uday Kotak
20. 307 Cyrus Poonawalla

i can also ask where is sachin tendulkar ? but i understand this is a different ballgame altogether.

Originally Posted by Mpower

Interestingly, Vijay Mallya is nowhere on the list and yet he's the only one who lives the life of a billionaire.

a typical indian mentality ( i have the same too). a man who lives life kingsize has to be rich , NOOOOO Wayyyyy!!!!

[BaCkSeAtDrIVeR]

Originally Posted by DocG

...... but do you also know that he's up at 3 or 4 am and is already working... he is hooked up with all his "people" via satellite...he works really hard, he doesn't really get to enjoy life as much as people think

Late to bed... early to rise, makes Mallya wealthy, famous and respected!!!

[mmmjgm]

Originally Posted by v1p3r

Mallya got his money from his dad as much as Premji did.

Vittal Mallya's business was small when he passed away and Dr.Vijay Mallya took the reins of UB. What is was and where it is today can only be classified as phenomenal as UB is the market leader in alcoholic beverages as of date. The growth is the result of the efforts put in by Dr. Mallya and his team. Mind you, the story of their hardwork is hardly written.

Dr. Mallya cannot advertise his liqour brands openly. He has never advertised his mango pulping outfit nor his ventures with pharmaceuticals. His image is a calculated effort in showing a lifestyle of brands which he has managed to pull off in a brilliant way. The true Indian version of Richard Branson.

Azim Premji had to abandon his studies in the US and had to come back to India to run Western India Vegetable Products - the origin of the name WIPRO. He yet runs the vegetable oil manufacturing factory in Amalner Maharashtra. I have audited Wipro when it was a small hardware outfit. Believe me starting a new product in India and selling it overseas is a herculean effort.

Knowing both of them I doubt the concept of getting the money from their respective fathers would help them in times of inflation today. Both have multiplied their networths a good number of times over.

Cheers.

[Jay]

Originally Posted by Nikhilb2008

But what Mallya inherited from his dad was a very small fortune. He has expanded it to many times more than what it was to begin with.

Originally Posted by prabhuav

Both Mallya and Premji got small fortunes that they have grown. To put it in perspectives, they inherited an esteem, and now have an RR

Well agreed He inherited a small fortune but he had something with him to start off right ? Starting from scratch and being successful is more difficult that expanding an existing business IMO.

Mind you, i respect Mr.Mallya for what he is today and i know its due to his hardwork and his strategies that he could accomplish what he has but what i'm telling is that what he inherited also plays an important role in his growth.

Well just to give you an example... Farmers of those days here in bangalore are millionaires now. Mind you, without doing much... thanks to what they inherited...

Originally Posted by BaCkSeAtDrIVeR

Got the answer from Narayana Murthy himself:-

(quoting NR)
When I go on a business tour, my expenses are paid for by Infosys. But when take my wife along, I have to take a double room, and I always pay the difference between costs of a single room and double room to the company.
(endquote)

In case of UB, the company will have to foot the bill for lipstick used by the PYTs hanging on VM's arms.

I heard Infosys is/was one of the worst paying companies when you consider other big companies comparable to infosys... Another way to get rich ???

[diabloo]

Warren Buffett dethroned Microsoft co-founder Bill Gates, who held the top slot for 13 straight years !!!

Also, 24 Indians make it to 'World's Richest' club

[gd1418]

So long my name is not on any of those so called "rich-list" it doesn't matter as to who is rich, richer or the richest.

None of them are going to name me as their heir in their wills and till such time it happens I would not envy, feel jealous or bother about...

[getsurya]

Well agreed He inherited a small fortune but he had something with him to start off right ? Starting from scratch and being successful is more difficult that expanding an existing business IMO.

Mind you, i respect Mr.Mallya for what he is today and i know its due to his hardwork and his strategies that he could accomplish what he has but what i'm telling is that what he inherited also plays an important role in his growth.

Well just to give you an example... Farmers of those days here in bangalore are millionaires now. Mind you, without doing much... thanks to what they inherited...

Guys, A person is never called a thief till he is caught in the act!! I am not saying that all are cheats, however, after Satyam fiasco-we all know that corporate governance is a drab!!
So, all this richness they exhibit has to somewhere tie back to the share price increase(if not inflated already!) My 2 cents!!

[diabloo]

AFAIK, Mallya is 362nd richest person in the world.

Originally Posted by Mpower

Interestingly, Vijay Mallya is nowhere on the list and yet he's the only one who lives the life of a billionaire.

[diabloo]

This year, Bill Gates is back as world's richest - its a victory for IT over Finance

Warren Buffett, last year's No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway fell nearly 50 per cent in 12 months

[akhilesh51]

IMO, The rich list is a bit of a farce. It is calculated based on one's capital as is based on share market and property market evaluations. It is a kind of capital that fluctuates depending on the market situation. A saudi sheikh could be the richest person today when Oil prices are high and tomorrow it could be an IT czar based on a completely different scenario.

Neither of them have sold amy part of their capital yet they are toppled from the top seat. In days of recession breaking in US and boom in India, a lot of Indians miraculously jumped to Top 10 only to return to their original positions or even worse when recession set its foot on our desi shores.

On a lighter side, It would actually be fun to see the list of most spending people's list. These are the people who are actually using their accumulated wealth to make their lives better and are actually 'RICH'.

[vinay kamath]

https://in.movies.yahoo.com/news/war...2--sector.html

REUTERS - Warren Buffett's 2006 Cadillac attracted a high bid of $122,500, more than 10 times its market value, in a charity auction that concluded on Thursday night.
The autographed DTS sedan, with 20,310 miles (32,685 km) on the clock, was auctioned on the website Proxibid. A spokeswoman, Dana Kaufman, did not immediately identify the winner.
Proceeds from the auction will go to Girls Inc of Omaha, Nebraska, the city where Buffett runs Berkshire Hathaway Inc .
A longtime favorite charity of the 84-year-old billionaire, Girls Inc offers educational and recreational opportunities to girls in the United States and Canada. It is raising money for an $18.5 million expansion of a facility in Omaha.Buffett's daughter, Susan, is a director of Girls Inc's national organization, and first lady Michelle Obama is honorary board chair.
Buffett will deliver the keys to his old Cadillac personally if the buyer travels to Omaha to pick them up. He replaced the car last year with a new Cadillac XTS.
A 2006 Cadillac similar to Buffett's is worth about $11,200 on the open market, according to the Kelly Blue Book.
It is common for items once owned by prominent people to sell at auction for well above market value.
In 2009, Proxibid was involved in an auction of items once owned by Ponzi schemer Bernard Madoff, including a blue satin New York Mets baseball jacket with "Madoff" embroidered on the back. Estimated to be worth $720 at most, it fetched $14,500.
Buffett previously donated his 2001 Lincoln Town Car to Girls Inc. It fetched a $73,200 high bid at auction in 2006.
Annual auctions for a steak lunch with Buffett, which benefit a San Francisco charity that serves the poor and homeless, routinely draw seven-figure sums.
(Reporting by Jonathan Stempel in New York; Editing by Tom Brown)