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Richest men cry on Stock market crash
By siliconindia
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Tuesday, 09 August 2011, 23:19 IST
Bangalore: Last week has been a nightmare for all who were banking on their golden goose - the stock market. The sensex came tumbling down and crashing of points was a nothing but a catastrophe. The Dow Jones Index of Wall Street in New York dropped by nearly 9.13 percent about 634.76 points. Some of the experts say that it is just a 'correction', but some say it is a 'crash'. Richest men in the world have nothing but to agree that it was a disastrous crash as they have lost a bomb in the last week. Here is the list of the losses incurred by the richest men.
1. Lakshmi Mittal:
Britain's richest man became the nation's biggest loser this week as 164 billion pound was wiped off British shares in a single week. Indian-origin steel tycoon Lakshmi Mittal took the biggest hit. The world's largest steel maker Lakshmi Mittal lost 2.16 billion pound following a calamitous six days on stock markets. The share price of Mittal's company Arcelor Mittal, of which he owns 40.83 percent, plummeted 18.7 percent this week reducing the value of his fortune to 9.7 billon pound.
