The first half of 2009 will be the time of more global financial trouble, deleveraging, refinancing and more bailout requests.Let's start at the top. Some of the world's saviest people have lost an awful lot of money in the collapsing stock market and the speedy downturn of the world economy. Cars, real estate, banks, hedge funds, the retail sector, newspapers and magazines will not be among the best investments for 2009.
Kerkorian, best known for his ties to the ailing U.S. car industry, this week said he had sold off his remaining shares in Ford Motor Co (F.N), completing a retreat that cost him hundreds of millions of dollars.
Forbes magazine, which tracks the world's richest people, puts Kerkorian's worth at $11.2 billion from investments in casinos and other businesses. His losses made him one of the poorest performers on this year's list, it said.
Iranian-born
Tchenguiz draws most attention through newspapers citing his jet-set lifestyle, including an expensive house in an upmarket London district and a sumptuous Louis XIV-style party he is reported to have thrown for his 40th birthday.
His Globe Tenanted Pub Co Ltd, which runs 424 leased pubs across the United Kingdom, said this week it would appoint an external adviser, after narrowly breaching its debt covenants -- early warning signs of financial trouble.
And business publication The Estates Gazette in October said Tchenguiz had dropped off its list of the 500 wealthiest people in UK property after losing 1 billion pounds ($1.45 billion) when Icelandic bank Kaupthing collapsed.
Germany's
Merckle, ranked by Forbes among the world's 100 richest people, was caught out by wrong-way bets on shares in Volkswagen AG (VOWG.DE), incurring massive losses.
His investment vehicle VEM Vermoegensverwaltung said on Wednesday it would sign an agreement to obtain a bridge loan from banks as it worked on refinancing the group.
German tycoon Adolf Merckle commits suicide(Yahoo News, Tuesday January 6)
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