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Buffet and Anil Ambani figures among billionaires betting on U.S. economy
By siliconindia
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Wednesday, 01 October 2008, 16:53 IST
New York: While the economy slump has sent out negative vibes throughout, it is people like investor Warren Buffet and Indian billionaire Anil Ambani who has stood out for their investments in the doomed economy. The research firm Forbes has enlisted the world's richest business people investing in the slowed economy.
Even when the country has sent alarms on the danger prone situation, the investments have wheeled in unanimously. While Buffet (networth $50 billion) appears for his most unexpected investment in the Goldman Sachs, Anil Ambani hits the list along with Hollywood Director Steven Spielberg on their American film venture. Writing on Spielberg, who has left Viacom to start the independent film studio, the magazine said, "He will get more freedom with the help of Anil Ambani, one of the richest men in India. Ambani's entertainment business is chipping about $500 million into the venture." And as for Buffet it said, "Buffett's Berkshire Hathaway is paying five billion dollars for the investment bank's preferred shares that pay a 'lush 10 percent dividend'". However, among all the most unexpected investment according to the report was the investment in the American newspaper The New York Times where in Carlos Slim bought a 6.4 percent stake. Referring to the deal the report said, "Like many of the other billionaires on this list, the world's second richest man is purchasing a depressed asset. Shares of The New York Times are down over 67 percent over the past five years,"
The list also figures out other names like Steven Spielberg (networth $3.1 billion), American fund manager John Paulson ($4.5 billion), Hong Kong billionaire Li Ka-Shing ($ 26.5 billion), Russia's Alexander Mamut ($1.2 billion) and Mikhail Prokhorov ($19.5 billion), Thailand's beverage tycoon Charoen Sirivadhanabhakdi ($3.5 billion) and Mexican magnate Carlos Slim Helu ($60 billion).
The research firm has taken the billionaires' networth from the Forbes 400 list as well as from the list of the world's billionaires.
