BUSINESS LEADERS LAKSHMI MITTAL

LAKSHMI MITTAL £17.514 M 

13 Mar 2013

Steel magnate Mittal, 56, tops The Sunday Times Rich List seven years in a row. He is the highest faller in this year’s Rich List but still has the fastest-growing fortune.

This year he plans to build a "Zero Carbon" Footprint estate in Surrey a 340 acre estate also called Alderbrook Park which was built as a country estate during the 19th century but was part-demolished in the 1950s and replaced with a less-attractive home. He purchased the estate for £5.25 million ands is planning to spend £25 million on it to make it 100 per cent self-sufficient and eco-friendly. The unique modern design will not only ensure the house is zero-carbon, but will make the entire 340-acre estate carbon negative.

Mittal, who has turned round ailing former state-owned mills around the world, knows all there is to know about steel. He learnt about business in Calcutta. His father moved to the city and built up a steel business, while Lakshmi excelled at university, topping his class in business and accountancy. After working in the family firm, Mittal moved to Indonesia. With backing from his father, he founded a steel plant and by the mid-1980s was a serious player in the world market. In 1995 he separated his own steel interests from the family’s Indian businesses, and went his own way.

Mittal settled in London although he retains his Indian passport. His US-educated son, Aditya, also based in London, plays an increasingly important role in the business as president and chief financial officer of Mittal Steel and led the recent bid for Arcelor. The family’s stake in Mittal Steel prior to the merger was worth more than £17 billion as its shares had risen sharply. The family will emerge with about 43.4% of the new entity.

From 1998 to 2005, the Mittals had £1.57 billion in dividends from its steel operations . About £434m has been reinvested elsewhere, leaving £1.13 billion in family hands. The Mittals will receive at least £413m in dividends from the new group in 2007. A separate investment portfolio is valued at £570m. Mittal set a world record for a private home when he paid £70m to Bernie Ecclestone (qv), the Formula One supremo, for a house in London’s exclusive Kensington Palace Gardens. In all, the Suday Times reckons the family is worth £19,250m.

The ArcelorMittal Orbit is a 115 metres (377 ft) high observation tower under construction in the Olympic Park in Stratford, London. The project is expected to cost £19.1m, with £16m of that coming from Lakshmi Mittal, with the balance of £3.1m coming from the London Development Agency. The official name of the sculpture, "ArcelorMittal Orbit", combines the name of Mittal's company, as chief sponsor, with Orbit, the original working title of the designers.

The steel sculpture will be Britain's largest piece of public art, and is intended to be a permanent, lasting legacy of London's hosting of the 2012 Summer Olympics, assisting in the post-Olympics regeneration of the Stratford area.

http://www.richest-people.co.uk/lakshmi-mittal/

Mukesh Ambani Net Worth $21.5 B

Mukesh Ambani's fortune dropped $1 billion though he remains India's richest person and his Reliance Industries remains country's most valuable company. Reliance, along with its partner BP, will be investing $5 billion in KG-D6, the country's largest offshore gas field where output has sharply declined and which has been the subject of scrutiny by a federal auditor. Despite hectic lobbying with the federal oil ministry, it has not yet secured a price increase for gas. Ambani is also preparing to roll out 4G services for which he may reportedly lease towers from Reliance Infratel, run by his once-estranged sibling Anil. Mukesh and his wife Nita throw lavish parties, the latest being for British prime minister David Cameron on his recent trip to Mumbai.

http://www.forbes.com/profile/mukesh-ambani/

Carlos Slim Helu & Family Net Worth $73

Carlos Slim Helu is the world's richest man for the fourth year in a row. He clocks in at $4 billion more than a year ago, thanks to surging stock prices at his financial arm, Grupo Financiero Inbursa, and at his Grupo Carso industrial and retail giant. Pan-Latin American mobile telecom outfit America Movil remains his most valuable holding at $36.3 billion; the company spread its wings to Europe in the past year, buying pieces of Dutch telecom company KPN and Telekom Austria. Other listed companies focus on mining, real estate and infrastructure. Slim does not hold an executive position at any of the companies he controls, but remains engaged and advises on strategy. He put his sons, Carlos, Marco Antonio and Patrick, in charge of the industrial, finance and telecom companies he controls.In September America Movil bought stakes in two Mexican professional soccer teams; in November Slim bought a majority of struggling Spanish soccer team Real Oviedo. Early 2013 saw a surge in Slim's philanthropic activity. The Carlos Slim Foundation pledged to translate into Spanish 1,000 videos from the Khan Academy education nonprofit website. Slim also hosted Bill Gates in late February; the two men announced they are funding research to improve farmers' yields and reduce hunger.

http://www.forbes.com/profile/carlos-slim-helu/

Binod Chaudhary Is Nepal's First Billionaire

The most beautiful Himalayan nation of Nepal(population:30 million) , among the poorest countries in the world,  has produced its first billionaire in Binod Chaudhary, chairman of the Cinnovation/Chaudhary Group, a conglomerate of close to 80 companies with interests in banking, foods, cement, real estate, hotels, power, retail, electronics. But Chaudhary, 57,  faced with restrictions at home,  has built much of his estimated $1 billion fortune overseas through his Singapore-based arm Cinnovation.

The group has expanded into neighboring India with its famous Wai Wai brand of instant noodles and forged a partnership with India’s Taj Hotels Group with which it owns hotels in Sri Lanka, the Maldives, Thailand as well as in India. It also has a stake in Alila, an Asian luxury boutique chain and is additionally creating its own hotels under the Zinc brand.

Chaudhary hails from a business clan with Indian roots. His grandfather Bhuramal Chaudhary, a textile trader from Rajasthan, migrated to Nepal in the 19th century. He opened a small textile store that used to supply goods to the erstwhile rulers. Chaudhary’s father, Lunkaran Das, converted that into Arun Emporium, Nepal’s first department store. The eldest of 3 siblings, Chaudhary joined the business at age 18, giving up his plan to study accounting in India when his father developed a heart ailment. The group had 400 people then versus 7,500 today.

A family division gave Chaudhary the freedom to pursue his own ambitions. Seeking expansion, he created Cinnovation through which he acquired overseas assets. Though scandals have dogged Chaudhary as he has flowered, he was also able to get a controlling interest in Nepal’s Nabil Bank . This was possible because two of Binod’s three sons, Rahul and Varun, are non -resident Nepalis based in Dubai and Singapore. His eldest son Nirvana looks after the domestic interests.

Nepal gave up its 240-year old monarchy five years ago, but its dreams of the new republic including a new constitution remain in limbo as political parties failed to agree on a host of issues. The country’s parliament, headed by a Maoist-led government, was dissolved last May and fresh elections are due this year. Nonetheless, Chaudhary who was a member of  the erstwhile parliament, remains bullish on his home country and its economic potential beyond tourism.

A fitness fanatic, Chaudhary goes trekking in the Himalayas every year to clear his head. He

and wife Sarika also regularly visit their health farm in the Philippines.

http://www.forbes.com/sites/naazneenkarmali/2013/03/05/binod-chaudhary-is-nepals-first-billionaire/

The World's Youngest Billionaires 2013

http://www.forbes.com/sites/briansolomon/2013/03/04/the-worlds-youngest-billionaires-23-under-40/

How to Become Internet Wealthy

Over the last few years I’ve seen a trend growing on the Internet, in which people are trying to become Internet rich. These people want to figure out how to make a lot of money, buy fancy things like Lamborghini’s and show the whole world how they are doing by posting pictures of their extravagant life on Facebook.

And maybe if they create a big enough following they’ll get featured on sites that encourage their materialistic lifestyle like Secret Entourage.

Now, there is nothing wrong with this if it makes you happy. But I see two flaws with it… the first is these type of people aren’t looking to create businesses that solve problems, more so they are just trying to do whatever it takes to become rich. Secondly, if they happen to make a lot of money, they tend to blow it on materialistic objects instead of investing it to continually build up their wealth.

If you want to become Internet rich and blow all your money on useless materialistic objects, there isn’t much I can do for you. But if you want to become wealthy, here are some strategies you have to follow:

Solve real problems

It’s very rare that people make a ton of money because they want to become rich. A lot of the people you know that are Internet rich got that way because they sold programs and schemes that promised it would make other people rich.

The successful entrepreneurs out there like Elon Musk, Marc Andreessen, Evan Williams and Mark Zuckerberg aren’t wealthy because they wanted to make a ton of money. Instead they saw a pain the world and solved it and the side effect was that they made billions from it.

The big difference between the people who are Internet wealthy versus rich, is that the wealthy ones solved problems instead of focusing on becoming rich. So if you want to become wealthy, don’t focus on making money first, instead you should figure out a problem you can solve that enough people in the world are facing.

Don’t sell a dream

Similar to solving a problem, you shouldn’t spend your time selling a dream. That’s how many of those Internet millionaires paid for their Lamborghini’s. When you create a real product that solves a real pain, you can then create a brand around your business because people will actually want to buy it.

You don’t just want to be creating a brand around yourself because if something happens to you, your company will be worthless.  Instead you want to build a brand around your business by selling a solution to a problem… not a dream.

By building a real business, not only will you make money in the long run, but you’ll also have the option of selling your business for a decent multiple such as 4 times revenue, which is how you can really build up your wealth.

Now if you prefer to live the lifestyle of one of those Internet rich people, by all means go and travel and sell the dream, while buying nice toys to give you credibility, but you’ll have a tough time selling your business because very few people want to buy a company that revolves around 1 individual and a dream that can easily be crushed.

Never stop investing

If you happen to make millions of dollars, you shouldn’t waste your money on fancy cars or homes for you to live in. Sure if you happen to make hundreds of millions, feel free and buy those things but if you have a few million bucks there are better places for you to put your money.

For example you can typically buy a 6 to 8 unit apartment complex for around a million dollars in Southern California. If you put $300,000 down, your monthly payments will be around $4900 a month, which includes property tax. Your rental income each month should be around $7000 on the low end and $8000 on the high end. After paying a property manager, putting some money aside for repairs, and when you account for vacancies you should break even on a monthly basis if not make a $1000 to $2000 a month in profit. Plus after 30 years, you’ll own an apartment complex that would have appreciated and you yourself only put $300,000 into it while the renters paid for the rest of it off for you.

If you happen to take that model of buying at least one new apartment complex each year, you’ll end up a nice portfolio 10 years from now that your kids could live off of, or potentially keep on expanding.

Now you don’t have to follow the real estate model that I use above, but you should consider investing your money instead of spending it on materialistic objects… especially when you haven’t made hundreds of millions of dollars.

Heck, even Elon Musk, who had over a hundred million dollars, took all of his liquid assets and put them into SpaceX and Tesla because he had a hard time finding investors. He even did this when he knew the odds of him succeeding were low… but he really wanted to solve the problems Tesla and SpaceX eventually accomplished. In the end things worked out and now he has more than a few hundred million dollars.

By reinvesting your money, it will start to work for you so you won’t have to work when you are 60 years old. In other words, you’ll be building up your wealth.

The reason this is important is because the good times don’t last forever. It’s very unrealistic for someone to continually make millions of dollars a year for long periods of time. By reinvesting your cash you’ll ensure that you won’t be hunting for a job at McDonalds 10 years from now.

Wealth doesn’t have to be money

I know most of the content above revolves around money, but wealth isn’t just cash. I know a ton of people who only make $75,000 a year who I would consider to be wealthy as they are happy.

According to a research piece done by Princeton University, when individuals increased their income above $75,000 it had no positive affect on their mood or overall happiness. And when individuals spent that money on materialistic objects it hand no effect on their long term happiness.

http://www.quicksprout.com/2013/01/02/how-to-become-internet-wealthy-not-internet-rich/

11 Homeless People Who Became Rich And Famous

How To Get Rich With Network Marketing

In a way Network marketing is the same as MLM or Multi-Level Marketing…a term that has been thoroughly abused by ‘scamsters’ and frauds, mostly on the Internet. Though a whole lot of less than scrupulous people have caused some damage to the standing and credibility of this form of business, it nevertheless figures as a very cost effective revenue stream for a new entrepreneur. Another benefit of Network marketing is the training you get in operating a business; like selling, time management and keeping yourself motivated in the face of rejection.

So how do you get started?

The first thing you would have to do is to select the right MLM Company. That is half the job done. With all those scams doing the rounds, it can get a little overwhelming trying to pin point the MLM company where you would want to participate. A lot of MLM companies fail because of various reasons. Some are not well financed; some don’t have a good, saleable product or haven’t been able to innovate to meet new customer requirements. Still others have shut shop because the federal government got wind of their less than holy dealings and acted fast. Even after those MLM guys who had to wind up, there are still some left that are the Real Mc Coys. These are the guys you need to fish out.

Here are some tips for selecting a good (read ‘Safe’) MLM company for starting your Network marketing business.

1.            Participate in an MLM company that has a proven track record for at least five years. We insist on the figure 5,because if the company has survived half a decade and made money, they would have a good product, enough capability to innovate and would be able to provide their downline with good back-end support.

2.            Look for selling a product that you believe in. Imagine yourself selling weight loss pills when you know for sure that a doctor would never recommend most of these pills! Bottomline is, you can’t sell a product if you don’t have faith in it.

3.            Seek out a company that provides solid backend support and marketing infrastructure to its downline. It can rip the shirt off your back to develop new marketing literature for your customers and for your downline.

What next?

Once you have selected the right MLM company, the next logical step would be to decide your sales strategy. Devise a plan for lead generation for the product you will be selling. In your plan include what targets you need to set to break even, what sales literature you will use and yes, most importantly… how will you develop your downline. Don’t forget that one part of your income will come from them. It is a better idea to have 3-4 quality agents in your level-I downline, than to recruit everyone and their cousin and not have a single dime come at the end of the month. At this point of time, It is usually a good idea to focus on the primary product you chose for marketing rather than include a host of other lucrative offers. It is easy to lose focus and spread yourself out thin that way.

Finally, how to get rich with Network marketing?

Even with all those bad apples in the bunch, Network marketing is still a very effective marketing strategy. Al you have to do is chose the right company and avoid the ‘scambags’, get the right mentors and then build a solid downline of effective sales people. You can get some information on how to avoid fraudulent ‘MLM-ers’ at these websites:

http://www.stopspam.org/faqs/mlm_vs_pyr.html http://www.ftc.gov/bcp/conline/pubs/alerts/pyrdalrt.htm

One of the biggest reasons (and there are several; take a look at: http://www.powerhomebiz.com/vol4/MLMsurvival.htm) why Network marketing runs out of gas is that your MLM company hits the ground. Though it doesn’t have to happen to you, if you’ve been careful in choosing company, it is still a possibility. You can pre-empt this situation by “Diversifying". Join several MLM companies which sell similar or related products and you will not only have multiple income streams but would have also spread out your risk.

Another big reason for failure in Network marketing is poor or ineffective downline. Some trouble areas that you could experience with your network are:

·      New members find it difficult to sell.

·      New members are unable to generate new leads.

·      Selling techniques being used are not suited to the medium. There is a high outward mobility of new members.

The trick to succeeding is to tackle these trouble areas at the time of recruitment. When you recruit new members, provide them with ample literature on the company and the product, train them on sales techniques by example and keep your team motivated. They are, by themselves a strong revenue stream for you.

I remember a couple of lines from a song I heard once, “ Chance is not choices, Noise is not voices". If you look carefully, two of the biggest secrets of success in any business lie in there. “Chance is not Choices"… There is difference between falling upon a lucky clover and growing them yourself. So plan your business carefully, choose a good MLM company and build your sales downline with care.

“Noise is not Voices"… the world is out there “revealing" secrets of sure shot success “just for you". That’s just noise. Listen to your own experiences; what they have taught you is invaluable. And when you teach the same to your downline, you enhance the possibility of your business’ success.

Network marketing may not work 95% of the times, but there are still those 5 chances out of a 100 when it will work. So plan for success in Network marketing and reap the benefits.