Off Topic FORBES RICH LIST - LAKSHEMI MITTAL - 135TH RICHEST MAN IN THE WORLD

Just seen the Forbes rich list for 2016 and our boy Lakshemi has fallen to 135th richest man in the world. His estimated wealth is only 8.4 billion dollars. When he bought into the club he was the 4th richest man in the world and worth something like 27 billion. I know there has been a global recession and construction projects were put on hold but it appears that he has squandered an awful lot of assets/money somewhere. Having said that, his wealth last year increased by 236 million dollars. I wonder how much he has directly put into our club?

 

Whatever he has put into QPR, it's petty cash. £6.014 billion. I was instinctively going to round down to £6b but that would have wiped out £14m of his wealth. Considerably more than he's put into QPR!
Not feeling too sorry for him.

 

His estimated wealth is primarily based on the share prices of his companies. Steel production and as a commodity is at a low point and has been for a couple of years. Even Mrs Iwasanotherwatfordr, armed with an Amex and a week at Westfiled would struggle to do £21 billion.......perhaps.

 

The Rich Lists are highly subjective, they don't represent what someone can actually get their hands on but "assets" which as you say can fluctuate wildly in value. Fernandes is supposed to be worth $600m but I'm sure he couldn't get his hands on most of this. Still eyewateringly rich of course.

 

One can only surmise but our TF as you say, would be lucky to have a net worth of 6 million pounds, let alone 600 million ( worth of assets ).
As for the Mittals, well ............... it is understandable their suffering such losses after having leeches like Boswanka and alike.
When it is all said and done, with only a couple of squillion dollars left, he'd only have to list 'QPR' on his tax return and the tax office would stamp his documents, 'never to be audited / pay tax again'. They may in fact, offer tax relief / concessions, there after.

 

The huge fall in the net worth of the Mittal family isn't a reflection of their profligacy, and is certainly nothing to do with any overspending at our club on the likes of Jose Bosingwa.

It is almost entirely to do with the Chinese government's strategy of massively overproducing steel, which is also what has finally killed off steel production in this Country too. Not a lot anyone can do about it, unfortunately.

http://www.bloomberg.com/news/artic...na-s-steel-mills-won-t-cut-back-on-production