The World’s 200 Richest People (2005) Compiled by Forbes (Each listing will include the rank, name, age, worth [in $billions], country of citizenship, and residence, along with brief biographical information.)
William Gates III, 49, $46.5bn, USA, Medina, Wash. (USA) Industry: Software Marital Status: married , 3 children Harvard University, Drop Out Gates was given honorary knighthood in March, but don’t call him Sir William: the title is only good for citizens of the Commonwealth. He is staying plenty busy pressing Microsoft beyond PCs into television set-top boxes, games, cell phones. “Software is where the action is,” Gates proclaimed to company researchers last August. Competition from rival open source operating system, Linux, is stalling Microsoft’s growth in the server market, but desktop dominance remains intact: Windows installed in 94% of PCs being sold. Next version, Longhorn, should be ready in 2006. Microsoft, meanwhile, is pursuing online music, photos and search software. Gates is methodically diversifying his wealth: He sells 20 million shares each quarter, reinvests through Cascade Investment in non-tech companies, including big stakes in Cox Communications, Canadian National Railway, Republic Services. World’s biggest philanthropist also devoting $27 billion to good deeds. Bill & Melinda Gates Foundation fights infectious diseases (hepatitis B, AIDS), funds vaccine development, helps high schools.
Warren Buffett, 74, $44.0bn, USA, Omaha, Neb. (USA) Industry: Investments Marital Status: widowed , 3 children University of Nebraska Lincoln, Bachelor of Arts / Science Columbia University, Master of Science Newspaper delivery boy filed first 1040 at age 13; claimed $35 deduction for bicycle. Studied under Benjamin Graham at Columbia. Applied value-investing principles to build Berkshire Hathaway to $133 billion (market cap) holding company: insurance, energy, carpets, jewelry, furniture, paint (Benjamin Moore), apparel (Fruit of the Loom). Also big stakes in American Express, Coca-Cola, Gillette (now set to merge with Procter & Gamble). Admits Berkshire’s $30 billion-plus cash hoard is underutilized: “It’s a painful condition to be in, but not as painful as doing something stupid... [Vice Chairman] Charlie [Munger] and I detest taking even small risks.” Recent bets include Pier One Imports, Comcast, food distributor McLane. Bought mobilehome maker Clayton Homes after reading autobiography by company founder. “If we fail, we will have no excuses.” Since taking control of Berkshire has delivered compound annual return of 24%. Outspoken opponent of Bush tax cuts, courted as adviser to pols Arnold Schwarzenegger and John Kerry. Critic of lax corporate governance, became target of failed campaign to vote him off Coca-Cola board. Fanatical supporters still far outnumber critics: Berkshire’s folksy annual meeting crowds routinely top 15,000.
Lakshmi Mittal, 54, $25.0bn, India, London (UK) Industry: Manufacturing Marital Status: married , 2 children St. Xavier’s College Calcutta, Bachelor of Arts / Science Coming-out year for the steel titan, who now oversees the world’s largest steel company, Mittal Steel. In December he merged his Ispat International with Ohio-based International Steel Group. Owns 88% of the $31.5 billion (sales) company. Recently shelled out $100 million for a new 12-bedroom mansion in London’s posh Kensington neighborhood. Also reportedly dropped $60 million to host his daughter’s five-day-long wedding celebration in Versailles last summer.
Carlos Slim Helu, 65, $23.8bn, Mexico, Mexico City (Mexico) Industry: Communications Marital Status: widowed , 6 children Just call him Midas. Latin America’s richest man upped his wealth this year by an incredible $10 billion, thanks to a growing and diverse empire that includes holdings in retail, banking and insurance, and auto parts manufacturing. Shares of his flagship wireless telecom outfit, América Movil, soared 76% during the year. And his fixed-line operator, Telefonos de Mexico, or Telmex, is reportedly gearing up to double its customer base this year, primarily in Mexico, by signing up 600,000 broadband Internet subscribers. As one of its largest shareholders, Slim was purportedly contemplating taking MCI private—until Verizon bid to acquire the beaten-down phone company in February. Said to have one of Latin America’s largest collections of Rodin sculptures; is also the founder of Foundation of the Historic Center of Mexico City, dedicated to restoring colonial buildings in Mexico City’s historic city center.
Prince Alwaleed Bin Talal Alsaud, 48, $23.7bn, Saudi Arabia, Riyadh (Saudi Arabia) Industry: Investments Marital Status: married , 2 children Menlo College, Bachelor of Arts / Science Syracuse University, Master of Science This savvy global investor and nephew of the Saudi king continues to thrive on deal-making—in addition to a dash of pro-American political crusading. His fortune, anchored by a $10 billion stake in Citigroup, was lifted in part by a 116% rise in the Saudi stock market in 2004. Last year he unloaded his half of New York’s Plaza Hotel and plowed the profits into buying stakes in London’s Savoy Hotel and Monaco’s Monte Carlo Grand. In January he helped bail out an ailing Disneyland-Paris with a $30 million cash injection. A vocal supporter of women’s rights, he hired the first female airplane pilot in Saudi Arabia, a country where women still can’t legally drive. Clearly pleased with his stock picking prowess, he took out ads on CNN touting his holdings. “We’re telling the market all these companies are number one in their field,” crows Alwaleed.
Ingvar Kamprad, 78, $23.0bn, Sweden, Lausanne (Switzerland) Industry: Retailing Marital Status: married , 4 children Founder and owner of $16.4 billion (sales) IKEA, the preferred furniture company for the hip and cost-conscious. Cult-like following: store openings draw huge, occasionally unruly crowds, sometimes resulting in stampedes or in one case two deaths. Stories of Kamprad parsimony abound: He reportedly flies economy, stays in cheap hotels and so on. But he doesn’t deprive himself entirely: owns a posh villa in Sweden, a 17-hectare winery in Provence and lives in wealthy-friendly Switzerland rather than Sweden.
Paul Allen, 52, $21.0bn, USA, Seattle, Wash. (USA) Industry: Software Marital Status: single Washington State University, Drop Out Microsoft cofounder still a believer in “wired world,” though these days jettisoning investments like TechTV in favor of biotech. Stock in cable company Charter Communications languishing, thanks to an assist from the indictment of 4 executives on charges of inflating company’s results. Other misfortune with investment in troubled telecom provider RCN; last year he sold his stake at a big loss. Still managing to have a good time elsewhere. Owns pro football’s Seattle Seahawks, basketball’s Portland Trail Blazers. Financial backer of SpaceShipOne, first to launch private flight into suborbital space. Added Science Fiction Museum to his Experience Music Project in Seattle; includes captain’s chair from the original Star Trek. Other captain’s chair sits high atop the Octopus,
413-foot yacht armed with 2 helicopters and a 60-foot submarine. His Paul G. Allen Family Foundation has donated heavily to education, art and science causes. Joined buddy Bill Gates in 1975, left the company in 1983 to fight Hodgkin’s disease. Has been slowly selling off Microsoft stake ever since.
Karl Albrecht, 85, $18.5bn, Germany, Mülheim an der Ruhr (Germany) Industry: Retailing Marital Status: married , 1 child Richest man in Germany. With younger brother, Theo, turned mother’s corner grocery store into discount supermarket giant Aldi. Now has 7,000 stores and estimated $50 billion in sales. Karl used to manage more profitable southern half of Aldi’s German business, but has since retired. Fiercely private, he apparently loves golf and raises orchids.
Lawrence Ellison, 60, $18.4bn, USA, Silicon Valley, Calif. (USA) Industry: Software Marital Status: married , 2 children University of Illinois, Drop Out Chicago native cofounded database software firm Oracle in 1977 and took it public in 1986, one day before Microsoft; nipping at rival’s heels ever since. Touts Darwinian view of software industry, decreeing that all but the largest players are doomed. Just as competitive on the high seas: Ellison’s a tenacious competitor in the America’s Cup and his BMW Oracle Racing team looks to be in fighting trim leading up to the 2007 race. A visionary very attached to his own vision of things, he gave exclusive access to a biographer in exchange for being allowed to pepper the book with footnotes giving his own version of events. Latest footnote: adding PeopleSoft to Oracle’s arsenal.
10 S. Robson Walton, 61, $18.3bn, USA, Bentonville, Ark. (USA) Industry: Retailing Marital Status: divorced , 3 children University of Arkansas, Bachelor of Arts / Science Columbia University, Doctor of Jurisprudence Eldest son of Sam Walton (d. 1992), legendary merchant who opened first discount store in Rogers, Ark. in 1962. Took Wal-Mart public in 1970; explosive growth. Wal-Mart is now the world’s largest retailer, with more than 5,000 stores. Serves as Wal-Mart chairman. Retail giant is now selling softer side after barrage of criticism over poor worker benefits and strong-arming suppliers. Family donates via Walton Family Foundation.
11 Jim Walton, 57, $18.2bn, USA, Bentonville, Ark. (USA) Industry: Retailing Marital Status: married , 4 children Youngest son of Sam Walton (d. 1992), legendary merchant who opened first discount store in Rogers, Ark. in 1962. Took Wal-Mart public 1970; explosive growth. Wal-Mart now world’s largest retailer, with more than 5,000 stores. Though not active in company, Jim is president of Arvest, Arkansas’ biggest bank. Retail giant now selling softer side after barrage of criticism over poor worker benefits, strong-arming suppliers. Family donates via Walton Family Foundation.
11 John Walton, 59, $18.2bn, USA, Bentonville, Ark. (USA) Industry: Retailing Marital Status: married , 1 child Son of Sam Walton (d. 1992), legendary merchant who opened first discount store in Rogers, Ark. in 1962. Took Wal-Mart public 1970; explosive growth. Wal-Mart now world’s largest retailer, with more than 5,000 stores. Serves as a director. Retail giant now selling softer side after barrage of criticism over poor worker benefits, strong-arming suppliers. Family donates via Walton Family Foundation.
13 Alice Walton, 56, $18.0bn, USA, Fort Worth, Texas (USA) Industry: Retailing Marital Status: divorced Trinity University of San Antonio, Bachelor of Arts / Science Only daughter of Sam Walton (d. 1992), legendary merchant who opened first discount store in Rogers, Ark. in 1962. Took Wal-Mart public 1970; explosive growth. Wal-Mart now world’s largest retailer, with more than 5,000 stores. Alice raises horses on Texas ranch, not active in company. Retail giant now selling softer side after barrage of criticism over poor worker benefits, strong-arming suppliers. Family donates via Walton Family Foundation.
13 Helen Walton, 85, $18.0bn, USA, Bentonville, Ark. (USA) Industry: Retailing Marital Status: widowed , 4 children University of Oklahoma, Bachelor of Arts / Science Widow of Sam Walton (d. 1992), legendary merchant who opened first discount store in Rogers, Ark. in 1962. Took Wal-Mart public 1970; explosive growth. Wal-Mart now world’s largest retailer, with more than 5,000 stores. Helen not active in company. Retail giant now selling softer side after barrage of criticism over poor worker benefits, strong-arming suppliers. Family donates via Walton Family Foundation.
15 Kenneth Thomson & family, 81, $17.9bn, Canada, Toronto (Canada) Industry: Media/Entertainment Marital Status: married , 3 children Sir Kenneth passed along chairmanship of $8.1 billion (sales) Thomson Corp. to son David in 2002. Derives wealth from 69% stake in media giant Thomson, now entrenched in electronic media and information services such as Thomson ONE and Westlaw. Sold Thomson Media and its 54 trade publications to Bahrain-based Investcorp for $350 million late last year. Company also investing in financial software infrastructure; bought bondtrading platform TradeWeb for $385 million. Thomson remains obsessed with his famous art collection. Donated more than $300 million in paintings in 2002 to the Art Gallery of Ontario, then pledged $50 million for an expansion the following year. Among the trove of 3,000 works: “Massacre of the Innocents,” a long-lost masterpiece by Rubens that Thomson bought for $77 million, the third-highest price ever paid for a painting at auction, and the highest for an Old Master.
16 Liliane Bettencourt, 82, $17.2bn, France, Paris (France) Industry: Manufacturing Marital Status: widowed , 1 child As daughter of L’Oréal founder Eugene Schueller, Bettencourt has held on to her controlling 27% stake in the cosmetics company for some four decades, securing her spot as France’s richest resident. She has always shunned the press, perhaps to avoid persistent rumors of both her father’s checkered wartime past and her late husband André’s journalistic screeds against Jews. Her pet cause is the Bettencourt Schueller Foundation, which awards the Liliane Bettencourt Prize for Life Sciences to a European researcher under the age of 45.
17 Bernard Arnault, 56, $17.0bn, France, Paris (France) Industry: Diversified Marital Status: married , 5 children Ecole Polytechnique de Paris, Bachelor of Arts / Science Founder and chief of sprawling LVMH empire, peddler of must-have accoutrements for the rich and powerful. Among his brands: Dom Perignon, Fendi, Louis Vuitton, and TAG Heuer. Virtually all of Arnault’s fortune is tied up in his near50% stake in LVMH. Another Arnault to watch: eldest child Delphine, 29, who overseas company’s Christian Dior shoe and bag business, and is on the board of directors.
18 Michael Dell, 40, $16.0bn, USA, Austin, Texas (USA) Industry: Technology Marital Status: married , 4 children University of Texas Austin, Drop Out Founder of world’s biggest PC maker stepped down as chief executive last July, but remains chairman, works closely with successor Kevin Rollins to push company toward goal of $60 billion in sales by 2007. As a 19-year-old college kid started company from his University of Texas dorm room. Grew fast with low cost, low R&D, direct-sales model. Now beginning to compete in media software, printers, other gizmos. Diversifying wealth by selling stock, reinvesting through MSD Capital in other ventures, including 377-room luxury Four Seasons Resort Maui at Wailea, Hawaii. Other investments: stakes in International House of Pancakes, Dollar Thrifty Automotive Group, Tyler Technologies, Indiana restaurant chain Steak n Shake.
19 Sheldon Adelson, 71, $15.6bn, USA, Las Vegas, Nev. (USA) Industry: Service Marital Status: married , 5 children City College of New York, Drop Out Casino mogul hit jackpot with December public offering of his Las Vegas Sands; company’s stock rose 61% on first day of trading, pushing Adelson’s net worth up 767% from a year ago. The owner of the Venetian in Las Vegas now fully entrenched in Asian gambling mecca Macau: $265 million Sands Macau casino opened in May 2004; says he will recoup investment after the first year of operation. Construction ramping up on his Cotai Strip, an estimated $6 billion project that will put 7 hotelcasinos on a piece of reclaimed land between Macau’s two islands, Taipa and Coloane. Back in Vegas, building the Palazzo, new $1.8 billion casino next to the Venetian. Still feuding with archnemesis Steve Wynn over parking, though Adelson having last laugh: With net worth of $15.6 billion, seventimes richer than his rival. Admitted Broadway enthusiast who studied voice in his teens bringing The Phantom of the Opera to the Venetian 2006. Made first fortune in trade shows, selling Comdex to Japan’s Softbank for $862 million in 1995.
20 Theo Albrecht, 83, $15.5bn, Germany, Foehr (Germany) Industry: Retailing Marital Status: married , 2 children With older brother, Karl, turned mother’s corner grocery store into discount supermarket giant Aldi. Now has 7,000 stores and estimated $50 billion in sales. At age 83, is still hands-on, running the business’ lessprofitable Aldi Nord; his two sons are also executives there. Has U.S. holdings including gourmet food retailer Trader Joe’s and an 8% stake in Boise, Idaho-based Albertson’s supermarkets. Intensely private, is said to collect old typewriters, loves to golf and is extremely thrifty.
21 Roman Abramovich,38, $13.3bn, Russia, London (UK) Industry: Oil/Gas Marital Status: married , 5 children Drop Out Orphaned as a child, Abramovich dropped out of college, then made a fortune in a series of controversial oil-export deals in the early 1990s. His fortune took off in 1995 when he teamed up with Boris Berezovsky to take over oil giant Sibneft at a fraction of its market value. (When Berezovsky fled Russia in 2000 to escape fraud charges, he sold out to Abramovich.) His British-registered Millhouse Capital also has holdings in pharmaceuticals and heavy industry. Spending his fortune conspicuously—in the past two years he has spent an estimated $700 million on expensive playthings like the Pelorus yacht and the Chelsea Football club.
22 Li Ka-shing, 76, $13.0bn, Hong Kong, Hong Kong Industry: Diversified Marital Status: widowed , 2 children High School, Drop Out Asia’s richest and most influential businessman. Centered on the conglomerates Hutchinson Whampoa and Cheung Kong, Li’s empire spans 40 countries and accounts for 11.5% of Hong Kong’s stock market value. Leading real estate developer, cell phone provider and retailer, and the major supplier of electricity in Hong Kong. Also the world’s largest operator of container terminals. This year Li sold his $1 billion stake of Canadian Imperial Bank and donated all proceeds to his charities, including a new Canadian Li Ka-shing Foundation. Both his sons Richard and Victor hold Canadian citizenship.
23 Amancio Ortega, 69, $12.6bn, Spain, La Coruna (Spain) Industry: Apparel Marital Status: married , 3 children High School, Drop Out Spain’s wealthiest man. Son of a railway worker in Asturias, started making gowns and lingerie in his home with the help of ex-wife Rosalia Mera. Eventually became $5.8 billion (2003 revenues) Inditex, an apparel manufacturer that also owns Zara retail stores. Has investment groups own stakes in such companies as Brisa Auto Estradas, Union Electrica Fenosa and hotel chain NH Hoteles. Reportedly loves horses.
24 Steven Ballmer, 49, $12.1bn, USA, Redmond, Wash. (USA) Industry: Software Marital Status: married , 2 children Harvard University, Bachelor of Arts / Science Stanford University, Master of Business Administration “I’m confident we have some of the greatest dollar growth prospects in front of us of any company in the world, full stop, period-without question, it’s there.” So said Microsoft’s chief executive and boisterous booster last July. Cites corporate servers and America’s living room, where Xbox commands a growing share of U.S. gaming market. Yet Microsoft is decidedly more mature now, with recent $32 billion cash dividend, cost-cutting and settling of old feuds with Sun Microsystems, Apple Computer, Time Warner and dozens of federal and state trustbusters. Native of Detroit quit Stanford MBA program to join Harvard classmate (and dropout) Bill Gates in 1980. At the helm of Microsoft since 1998.
25 Silvio Berlusconi, 68, $12.0bn, Italy, North of Milan (Italy) Industry: Media/Entertainment Marital Status: married , 5 children University of Milan, Doctor of Jurisprudence Italy’s wealthiest man has been its prime minister since 2001. He was acquitted in December of charges that he bribed a judge in 1985 to block the sale of a food company to a business rival. In December, he resigned as president of ACMilan soccer team to conform with Italian laws prohibiting the prime minister from running private companies while in office. His investment holding company, Fininvest, owns more than half of Mediaset, one of Italy’s largest television networks. Also has banking, insurance and publishing interests. Still has time for leisure pursuits like singing and gardening.
25 Abigail Johnson, 43, $12.0bn, USA, Boston, Mass. (USA) Industry: Finance Marital Status: married , 2 children William Smith College, Bachelor of Arts / Science Harvard University, Master of Arts With father, Edward, runs Fidelity Investments, America’s largest mutual fund company: $1.1 trillion under management. Art history major at Hobart and William Smith Colleges interned at firm 1980. Spent 2 years as consultant for Booz Allen Hamilton, then Harvard MBA. Returned to Fidelity 1988, followed machinery and automation stocks, managed sector funds. Ran first diversified fund 1993, became president of company’s mutual fund division in 2001. Avoided taint of corruption by keeping money managers from market timing. Father reduced ownership for estate planning in 1995; now FMR’s largest shareholder.
27 Barbara Cox Anthony, 81, $11.7bn, USA, Honolulu, Hawaii (USA) Industry: Media/Entertainment Marital Status: married , 2 children High School, Diploma With sister Anne Cox Chambers, two daughters of James M. Cox (d. 1957), a high school dropout who worked as a reporter and congressional secretary before buying Dayton Evening News for $26,000 in 1898. Built media empire: newspapers (17 daily metros, including flagship Atlanta Journal-Constitution), 15 TV stations, 78 radio stations, cable systems. Anne: former ambassador to Belgium under Carter. Barbara’s son, James Cox Kennedy, oversees business.
27 Anne Cox Chambers, 85, $11.7bn, USA, Atlanta, Ga. (USA) Industry: Media/Entertainment Marital Status: divorced , 3 children High School, Diploma With sister Barbara Cox Anthony two daughters of James M. Cox (d. 1957), a high school dropout who worked as a reporter and congressional secretary before buying Dayton Evening News for $26,000 in 1898. Built media empire: newspapers (17 daily metros, including flagship Atlanta Journal-Constitution), 15 TV stations, 78 radio stations, cable systems. Anne: former ambassador to Belgium under Carter. Barbara’s son, James Cox Kennedy, oversees business.
29 Stefan Persson, 57, $11.2bn, Sweden, Stockholm (Sweden) Industry: Retailing Marital Status: married , 3 children University of Stockholm, Associate in Arts / Science Heads Swedish retailer Hennes & Mauritz, founded by his father, Erling, in 1947. The $7.6 billion (sales) chain now has over 1,000 stores in 20 countries in Europe and North America. Member of the board of the Mentor Foundation, which fights youth substance abuse (trustees include the Queen of Sweden and the Crown Prince of Spain). Enjoys golf, tennis and downhill skiing.
30 John Kluge, 90, $11.0bn, USA, Palm Beach, Fla. (USA) Industry: Media/Entertainment Marital Status: married , 3 children Columbia University, Bachelor of Arts / Science German immigrant, onetime richest man in America, amassed fortune buying and selling broadcast, cellular properties. Tech crash drove his Metromedia Fiber Network into bankruptcy; emerged as AboveNet with equity partners Craig McCaw and Franklin Mutual Funds. Oversees large collection of eclectic investments: restaurants (Ponderosa, Bonanza, Steak and Ale chains), medical and light technology, gourmet beef. Collects aboriginal art; gives to education, $60 million to the Library of Congress. Celebrated 90th birthday in Bavaria, Germany.
31 Raymond, Thomas & Walter Kwok, age N/A, $10.9bn, Hong Kong Industry: Real Estate Marital Status: N/A Brothers inherited Hong Kong’s giant real estate developer Sun Hung Kai Properties in 1990 following father’s death. Later, the company branched out into cellular phone service under SmarTone name. Also control KMB, a large bus operator in Hong Kong. The brothers are now looking to bid for U.S. rail company CSX Corp.’s Hong Kong port assets.
32 Forrest Mars Jr., 73, $10.4bn, USA, McLean, Va. (USA) Industry: Food Marital Status: married , 4 children Yale University, Bachelor of Arts / Science Grandchild of Frank and Ethel Mars, who started making confections 1911, struck sweet spot after young Forrest (d. 1999) suggested candy bar based on popular chocolate malted milk drink. Malt-flavored nougat became cornerstone of Mars candy bar line: Milky Way, Snickers, 3 Musketeers. Added M&Ms, Twix, Skittles. Now the nation’s largest confectioner, with sales of over $17 billion. Also pet food (Whiskas, Sheba, Pedigree), Uncle Ben’s Rice, electronic components for vending machines.
32 Jacqueline Mars, 65, $10.4bn, USA, Bedminster, N.J. (USA) Industry: Food Marital Status: divorced , 3 children Bryn Mawr College, Bachelor of Arts / Science Grandchild of Frank and Ethel Mars, who started making confections 1911, struck sweet spot after young Forrest (d. 1999) suggested candy bar based on popular chocolate malted milk drink. Malt-flavored nougat became cornerstone of Mars candy bar line: Milky Way, Snickers, 3 Musketeers. Added M&Ms, Twix, Skittles. Now the nation’s largest confectioner, with sales of over $17 billion. Also pet food (Whiskas, Sheba, Pedigree), Uncle Ben’s Rice, electronic components for vending machines.
32 John Mars, 68, $10.4bn, USA, Arlington, Va. (USA) Industry: Food Marital Status: married , 2 children Yale University, Bachelor of Arts / Science Grandchild of Frank and Ethel Mars, who started making confections 1911, struck sweet spot after young Forrest (d. 1999) suggested candy bar based on popular chocolate malted milk drink. Malt-flavored nougat became cornerstone of Mars candy bar line: Milky Way, Snickers, 3 Musketeers. Added M&Ms, Twix, Skittles. Now the nation’s largest confectioner, with sales of over $17 billion. Also pet food (Whiskas, Sheba, Pedigree), Uncle Ben’s Rice, electronic components for vending machines. Outsiders run day-to-day business, but John’s son, Frank, currently head of Mars’ Asia Pacific operations, being groomed for top spot.
35 Luciano Benetton & family, 69, $9.9bn, Italy, Treviso (Italy) Industry: Apparel Marital Status: married , 4 children After 38 years at the helm of this well-known Italian fashion brand, Benetton pulled back from day-to-day activity two years ago, though he remains chairman. Also keeps his luxurious office, decked out in 17thcentury ceiling frescoes. (Enjoys a reputation as one of Europe’s most famous patrons of the arts.) Through a holding company, the largest Benetton stakes are not in clothing at all, but in Autostrade, an operator of nearly two-thirds of Italy’s motorways, and Autogrill, a chain of roadside restaurants. Luciano’s son Alessandro, 40, a
former Goldman Sachs analyst with a Harvard MBA, was named co-vice president of Benetton Group. Alessandro is primed to become heir to the Benetton empire.
35 Pierre Omidyar, 37, $9.9bn, USA, Henderson, Nev. (USA) Industry: Technology Marital Status: married , 2 children Tufts University, Bachelor of Arts / Science Former computer programmer launched online auctioneer Ebay in 1995. Today the world’s biggest dotcom ($56 billion market capitalization), which lets consumers bid on everything from arcane Americana to Iraqi dinars. Still chairman but concentrates on philanthropy with a twist: he backs both nonprofit and forprofit companies engaged in “empowering individuals and enriching connections.” His Omidyar Network invests in microloans to small business owners in developing economies and in open-source software. Once promised to donate all but 1% of wealth to philanthropy. Now says he will use his entire fortune to “do good.”
35 Galen Weston & family, 64, $9.9bn, Canada, Toronto (Canada) Industry: Retailing Marital Status: married , 2 children University of Western Ontario, Bachelor of Arts / Science Master chef. Weston is chairman and president of George Weston Ltd., one of North America’s largest bakers. Company’s stock has risen 20% since September. Aside from tending to his controlling stake in Loblaw’s, Canada’s largest supermarket chain, Weston also minds upscale retailers Holt Renfrew and Brown Thomas. Acquired London-based department store Selfridges for $958 million through his Wittington Investments in 2003. Avid collector of avant-garde artist Christo, Weston regularly hosts exhibitions influential artists at a gallery founded by his daughter, Alannah, at Windsor, his private community in Vero Beach, Fla.
38 Lee Shau Kee, 77, $9.3bn, Hong Kong, Hong Kong Industry: Real Estate Marital Status: married , 5 children Hong Kong real estate tycoon got boost in fortunes from unlikely source—Singapore real estate—as the Suntec development in which he owns a stake went public last year. The tycoon also last year set up a special holding company, Shau Kee Financial, in which he claims to hold over $6 billion in investment assets. Lee’s core Hong Kong real estate holdings in Henderson group of companies is once again showing signs of life as rents rise in central office locations after a long period in the doldrums. And of course his China real estate investments are also booming.
38 Azim Premji, 59, $9.3bn, India, Bangalore (India) Industry: Technology Marital Status: married , 2 children Stanford University, Bachelor of Arts / Science India’s software icon. His $1.3 billion (sales) Wipro, of which he owns 83%, is riding high on continuing outsourcing boom. Is opening new offices outside Bangalore, his home base, to combat ballooning costs and staff attrition. Was awarded the Padma Bhushan, a national civilian honor, from the Indian government for his contribution to the country’s economy. Parsimonious Premji recently traded his eight-year-old Ford Escort for a new Toyota Corolla.
40 Nasser Al-Kharafi & family, 61, $9.0bn, Kuwait, Kuwait City (Kuwait) Industry: Engineering/Construction Marital Status: NA Runs $3.9 billion (sales) M.A. Kharafi & Sons in Kuwait. His powerful family includes older brother Jassim, a major politico, and sister Faiza, president of Kuwait University. Also owns a chunk of Mobile Telecommunications Co., which decided in January to halt most of its activities in Iraq fearing for personnel safety. Other ties to Iraq reconstruction effort are in banking and construction contracts. Not everything he touches turns to gold: His Albanian Airlines operation is still bleeding cash despite the purchase of a second aircraft and the rise of passenger traffic by 15%. At least he can relax at the family-owned, Disneyesque Port Galib on Egypt’s Red Sea coast, where nearly a thousand visiting yachts docked last year.
41 Kirk Kerkorian, 87, $8.9bn, USA, Los Angeles, Calif. (USA) Industry: Investments Marital Status: divorced , 2 children High School, Diploma Low-key investor hit jackpot with $7.9 billion takeover of Mandalay Bay Resorts last year. MGM Mirage stake now worth $6.3 billion. Former World War II pilot got start selling Trans International Airlines for $104 million profit in the 1960s. Invested proceeds in Vegas: acquired Flamingo hotel 1967, built International hotel 1969. Sold both properties to Hilton Hotels in 1970. Built first MGM Grand (now Bally’s), opened second incarnation 1993. Bought Steve Wynn’s Mirage Resorts for $6.4 billion in 2000. Longtime love affair with MGM movie studio coming to an end: Within weeks, Sony will close on its $5 billion deal to buy MGM with three private-equity firms and cable giant Comcast. Originally purchased studio 1970; sold to Ted Turner 1986, bought back months later. Sold again 1990. Picked up a third time 1996. Personally netted $1 billion when studio paid massive $8 dividend to investors in May 2004.
42 Sumner Redstone, 81, $8.8bn, USA, Beverly Hills, Calif. (USA) Industry: Media/Entertainment Marital Status: married , 2 children Harvard University, Bachelor of Arts / Science Harvard University, Doctor of Jurisprudence Son of drive-in-theater owner, took over Dad’s business in 1954, built National Amusements into 1,400-screen chain. Today Viacom is in movies (Paramount), cable channels (MTV, VH-1, Nickelodeon, BET), network television (CBS, UPN), radio (Infinity Broadcasting), books (Simon & Schuster). Bought Blockbuster video chain in 1993; took public, now launching new mail service to compete with Netflix. Last year dumped Viacom president Mel Karmazin after 4 years of chronic head-butting. Owns stakes in videogame developer Midway Games, WMS Industries. Boston native splits his time between New York and the West Coast with his second wife, Paula.
43 Leonardo Del Vecchio, 69, $8.5bn, Italy, Milan (Italy) Industry: Manufacturing Marital Status: married , 4 children High School Workaholic founder and chairman of Luxottica Group, a $4.2 billion (sales) designer and manufacturer of high-quality eyeglass frames. Sent to orphanage at age 7 because his mother could not afford to support five children. Started as an apprentice at a factory that made molds for auto parts, eyeglass frames; opened his own shop in 1958. Today Luxottica owns the Ray-Ban brand and U.S. retailers Sunglass Hut, LensCrafters and recently purchased Pearle Vision stores. Through licensing agreements, makes Prada and Chanel sunglasses. In July brought in a young chief executive, prompting rumors of his retirement, which he denied. Also the largest shareholder and chairman of Beni Stabili, one of Italy’s leading real estate groups, and sits on Versace’s board. Son Claudio owns men’s retailer Brooks Brothers.
43 Michele Ferrero & family, 78, $8.5bn, Italy, Brussels (Belgium) Industry: Food Marital Status: married , 2 children Owner of the eponymous chocolate maker, one of Europe’s largest. Brands sold around the world include Ferrero Rocher, Nutella, Tic Tac and Kinder Eggs. Kobe Bryant signed on for U.S. marketing campaign for Nutella in January 2001, though the relationship was not renewed in 2003 in the wake of the Bryant sexual assault scandal. Notoriously private Michele relinquished day-to-day oversight to sons Pietro, 39, and Giovanni, 41, who are co-chiefs. Recently began recruiting managers from outside the company. Passions: church and chocolate.
45 Michael Otto & family, 61, $8.3bn, Germany, Hamburg (Germany) Industry: Retailing Marital Status: married , 2 children Bachelor of Arts / Science, Doctorate
Head of $18 billion sales (2003) Otto GmbH, the worldâ€™s largest mail-order company, which was founded by his father in 1949. Otto and his family own extensive real estate in Canada and the U.S., shopping centers in Germany and more than 50% of home furnishings chain Crate & Barrel. Known as a committed environmentalist, his company has long touted environmentally safe products.
46 Susanne Klatten, 43, $8.2bn, Germany, Bad Homburg (Germany) Industry: Pharmaceuticals Marital Status: married , 3 children Bachelor of Arts / Science IMD-Lausanne, Master of Business Administration Inherited a 12% stake in BMW and a 50% stake in pharmaceutical manufacturer Altana from her father, Herbert Quandt. Although her presence at Altana is typically low-key (a Quandt trait), trained economist Klatten, who has an MBA, is credited with helping to transform the firm into a world-class pharmaceutical/chemical corporation with over 10,000 employees and revenues of $3.4 billion in 2003. Once worked as an assistant to billionaire publisher Hubert Burda. Her husband is an entrepreneur.
46 Philip Knight, 67, $8.2bn, USA, Beaverton, Ore. (USA) Industry: Apparel Marital Status: married , 3 children University of Oregon, Bachelor of Arts / Science Stanford University, Master of Business Administration Started out selling shoes from his car at track meets in 1964. Gained traction with innovative waffle sole, swoosh logo, superstar endorsements (Michael Jordan, Tiger Woods). Today Nike commands 36% of the U.S. athletic shoe market. Acquired Converse in 2003, Cole Haan in 1988. Also athletic clothes, sports equipment. Expansion plans finding new footing in Europe and Asia.
46 Hans Rausing, 79, $8.2bn, Sweden, Wadhurst (UK) Industry: Manufacturing Marital Status: married , 3 children Sold his share in packaging giant Tetra Laval to brother Gad for an estimated $7 billion in 1995. Moved to England in early 1980 to avoid punitive Swedish taxes. Reportedly owns land in New Zealand and a stake in Swedish crystal company Orrefors Kosta Boda. Is still backing Ecolean, a not-yet-profitable maker of biodegradable packaging. Donates to numerous charities including two that fund the study of disappearing languages and dialects.
49 Serge Dassault & family, 80, $7.8bn, France, Paris (France) Industry: Manufacturing Marital Status: NA The son of Marcel Dassault, founder of Dassault Aviation, is a billion dollars richer this year thanks to an uptick in orders for military aircraft. Other Dassault family and group holdings include software, electronics and media divisions. In March 2004 he bought Le Figaro, a conservative French daily. Much to the chagrin of the paperâ€™s journalists, outspoken right-wing Dassault is reportedly heavily influencing editorial policy.
49 Carl Icahn, 69, $7.8bn, USA, New York, N.Y. (USA) Industry: Investments Marital Status: married , 2 children Princeton University, Bachelor of Arts / Science New York University, Drop Out Famed 1980s corporate takeover specialist grew up middle-class in NYC’s Queens; lawyer father, mom taught school. Princeton grad attended medical school; dropped out after 2 years. Joined army, then Wall Street. Borrowed to buy NYSE seat 1968; bought firms, forced managers to improve, buy him out or spin off at profit. Scored big in 1980s with takeovers of Texaco, USX, TWA. Wrestled telecom XO Communications from Ted Forstmann 2002; still chairman, though stock down 42% over past year. Now preparing to bring auto parts supplier Federal-Mogul out of bankruptcy. Bulking up energy portfolio: now owns 7.6% of the Oklahoma City-based oil and gas producer with Barry Rosenstein, founder of San Francisco hedge-fund firm Jana Partners.
49 Keith Murdoch, 74, $7.8bn, USA, New York, N.Y. (USA) Industry: Media/Entertainment Marital Status: married , 6 children Oxford University, Bachelor of Arts / Science Oxford University, Master of Arts Liberals decry his Fox News Channel as anything but “fair and balanced,” but viewers love it anyway: cable news channel (home to Forbes on Fox) routinely draws far more viewers than rival CNN. Acquired 34% stake in and de facto control of DirecTV, largest American satellite broadcaster, now at 13 million homes and aiming to grow to 20 million subscribers by 2010. Native Australian inherited one Adelaide newspaper at age 23. Turned News Corp. into media behemoth through steady diet of acquisitions and new ventures: UK’s Sun, New York Post, Fox television network. Some wags see a succession struggle involving his 2 sons, Lachlan and James, and daughter Elisabeth, but Lachlan, now Deputy Chief Operating Officer, has the edge.
52 Rudolf August Oetker & family, 88, $7.7bn, Germany, Bielefeld (Germany) Industry: Food Marital Status: married , 8 children Known as the pudding king. Grandfather invented ready-to-use baking powder; he himself helped transform it into a leading consumer products group. Today the $6.4 billion (sales) group, run by his son August, makes all sorts of baking products as well as frozen pizza, beer and champagne; also owns five five-star hotels, a grocery chain, a publishing company, insurance groups and a maritime freight business.
53 Birgit Rausing & family, 81, $7.6bn, Sweden, Vaud (Switzerland) Industry: Manufacturing Marital Status: widowed , 3 children With her three children, inherited $11 billion (sales) Tetra Laval, the world’s biggest packaging company, in 2000 when her husband Gad Rausing died. Only son Finn lives in Sweden; daughter Kirsten, who raises horses, and other son Jörn live in England. Birgit herself prefers tax-friendly Switzerland.
54 Spiro Latsis & family, 58, $7.5bn, Greece, Geneva (Switzerland) Industry: Diversified Marital Status: married , 2 children London School of Economics, Doctorate Assumed the reins of his family’s vast fortune following the death of his father, John, in 2003. The Latsis portfolio stakes in banking, oil refining, high class air travel and real estate. The family’s largest holding is its EFG Bank Group, a conglomerate with private banking operations in Monaco, the United Kingdom and Switzerland. Publicly traded EFG Eurobank Ergasias has benefitted from the Greek government’s loosening of lending rules, allowing the bank’s loan book to grow at a 29% clip. Latsis’ PrivatAir flies heads of state and rock stars around the world in cost-be-damned comfort, while the flagship of his yacht fleet, the Alexander, is the third largest in the world.
55 Sergey Brin, 31, $7.2bn, USA, San Francisco, Calif. (USA) Industry: Technology Marital Status: single Stanford University, Master of Science With partner Larry Page, founded Google in 1998. A year ago we estimated his net worth at $550 million. Whoops. Since taking their Internet search engine public last year, the dynamic duo behind Google has seen their combined fortune soar to $14 billion. After starting out at $85, stock up 117%, recently trading at $187. Both partners have math teacher parents. Brin emigrated from Russia; Page grew up in Michigan. Met at Stanford while pursuing graduate degrees in computer science. Created Google: Internet gateway uses more than 10,000 networked computers to comb through 3 billion Web pages. Raised $25 million from starmaker venture capital firms Kleiner Perkins Caufield & Byers and Sequoia Capital. Recruited seasoned tech exec Eric Schmidt to run company; Brin serves as president of technology, Page heads products division. Eschewed traditional Wall Street IPO in favor of Dutch auction, then riled SEC after Playboy published interview in the mandated “quiet period.” No matter. Google founders still bigger stars than any centerfold.
55 Charles Ergen, 52, $7.2bn, USA, Denver, Colo. (USA) Industry: Media/Entertainment Marital Status: married , 5 children University of Tennessee Knoxville, Bachelor of Arts / Science Wake Forest University, Master of Business Administration Former Frito-Lay financial analyst started selling C-band satellite dishes 1980, expanded into broadcasting. Today EchoStar’s 9 satellites broadcast hundreds channels to 10 million subscribers. Sales: $5.7 billion. Attempt to buy rival DirecTV stymied by regulators; $1.8 billion bid for bankrupt Loral also nixed. Flexing muscles anyway: briefly pulled Viacom channels (MTV, Nickelodeon) off the air during recent carriage negotiations. New deal with telco SBC will bundle satellite service with telephone bill. Avid hiker recently led 20 interns on climb up 14,433-foot Mount Elbert, Colorado’s highest peak.
55 Larry Page, 32, $7.2bn, USA, San Francisco, Calif. (USA) Industry: Technology Marital Status: single Stanford University, Master of Science With partner Sergey Brin, founded Google in 1998. A year ago we estimated his net worth at $550 million. Whoops. Since taking their Internet search engine public last year, the dynamic duo behind Google has seen their combined fortune soar to $14 billion. After starting out at $85, stock up 117%, recently trading at $187. Both partners have math teacher parents. Brin emigrated from Russia; Page grew up in Michigan. Met at Stanford while pursuing graduate degrees in computer science. Created Google: Internet gateway uses more than 10,000 networked computers to comb through 3 billion Web pages. Raised $25 million from starmaker venture capital firms Kleiner Perkins Caufield & Byers and Sequoia Capital. Recruited seasoned tech exec Eric Schmidt to run company; Brin serves as president of technology, Page heads products division. Eschewed traditional Wall Street IPO in favor of Dutch auction, then riled SEC after Playboy published interview in the mandated “quiet period.” No matter. Google founders still bigger stars than any centerfold.
55 George Soros, 74, $7.2bn, USA, New York, N.Y. (USA) Industry: Finance Marital Status: married , 5 children London School of Economics, Bachelor of Arts / Science Famed hedge fund manager failed in his crusade to defeat President Bush. Donated more than $20 million to anti-Bush groups like MoveOn.org and America Coming Together. Hungarian-born money manager evaded capture by the Nazis; attended London School of Economics after war. Founded Curaçao-based Quantum Fund 1969; stellar long-term record. Currency speculator “broke” British pound in 1992 with top manager Stanley Druckenmiller; made $1 billion. Lost at least $1 billion during Russian market crisis 1998. Closed Quantum 2000, now managing Quantum Endowment macro fund: up 15% in 2003. Committed philanthropist and prodemocracy activist has given away $5 billion over last 25 years through network of foundations. Author of The Alchemy of Finance (1987) published more politically driven tome, The Bubble of American Supremacy, last year.
55 Reinhold Würth, 69, $7.2bn, Germany, Kuenzelsau (Germany) Industry: Manufacturing Marital Status: married , 3 children Doctorate Took over his father’s tiny wholesale screw business at age 19; built it into the $7 billion (sales) Adolf Würth Group, which posted record pretax profits of $422 million in 2003. Retired, appears to concentrate much of his time on his vast art collection, which includes works by Picasso, Miro and Max Beckmann. The collection also includes 70 pieces from the 15th and 16th centuries from the noble Fürstenberg family collection, which he installed in his museum in Kunzelsau, Germany. Back at the company, son Markus runs its wood division while daughter Betina sits on the board of directors.
60 Mukesh & Anil Ambani, age N/A, $7.0bn, India, Mumbai (India) Industry: Manufacturing Marital Status: NA The once-inseparable brothers are locked in a reported battle for control of $22.6 billion (revenues) Reliance Group, founded by their late father, Dhirubhai Ambani. At stake is family’s 34% holding in flagship Reliance Industries, their biggest asset, which older brother, Mukesh, runs. Rumor has it that Mukesh was trying to tighten his control over the group’s ambitious telecom venture by buying up shares. Mukesh denies the reports but a split seems likely.
60 Mikhail Fridman, 40, $7.0bn, Russia, Moscow (Russia) Industry: Oil/Gas Marital Status: married , 2 children Bachelor of Arts / Science Grew up in the Ukrainian city of Lvov; came to Moscow in the 1980s to study at the Institute of Steel & Alloys. Founded Alfa Group in 1988 with college friends German Khan and Alexei Kuzmichov; it’s now a diverse conglomerate with oil, retail, telecom and banking interests. Strong Kremlin connections, including a former subordinate who now serves as a political adviser to Putin. In 2003 merged his oil company, TNK, with BP—quite an achievement, considering that six years prior BP was in a bitter fight against Fridman, protesting his unorthodox methods of taking over a partly BPowned oilfield. But that’s Fridman’s way: aggressive, highly leveraged takeovers, followed by reorganization and then a sale to a strategic investor. Last summer Fridman faced his first crisis in a while, when customers of Alfa-Bank began withdrawing cash in droves. Fridman blamed Berezovsky-owned Kommersant newspaper, which had detailed problems. Fridman successfully sued, winning a $10 million payment from the newspaper.
60 Vladimir Lisin, 48, $7.0bn, Russia, Moscow (Russia) Industry: Mining/Lumber Marital Status: married , 3 children Siberian Metallurgical Institute, Bachelor of Arts / Science Russian Academy of Economics, Doctorate A proletarian success story. Lisin’s first job was as a mechanic in a coal mine. After college in Siberia he got a job as a steelworker. In 1991, when his boss was appointed minister of metallurgy, Lisin came with him to Moscow. In 1992 he joined up with a tough group of traders called Trans-World Group; they came to dominate Russia’s aluminum and steel exports. Lisin managed the factories, and when the partners went their separate ways in 2000, Lisin got a majority stake in Russia’s giant Novolipetsk steel mill as his share.
60 Donald Newhouse, 75, $7.0bn, USA, Somerset County, N.J. (USA) Industry: Media/Entertainment Marital Status: married , 3 children Syracuse University, Drop Out With brother Samuel Irving Jr., took over Advance Publications in 1979, newspaper and magazine company started by father, Sam Sr., in 1922. Beat IRS in huge estate tax battle after father’s death in 1979. “Si” oversees the biggest part of Newhouse media empire: Condé Nast (Vogue, Vanity Fair, Glamour), Fairchild (Details, Women’s Wear Daily, W), Bright House (cable system with 2.1 million subscribers), big stake in Discovery Communications (The Learning Channel). Also CondéNet: operator of Web sites Epicurious (food), Concierge (travel). Don runs newspapers (Cleveland Plain Dealer, Newark’s Star-Ledger). Company sold Random House book division for $1.4 billion, bought Wired magazine for $80 million at height of tech boom. After successful launch of Lucky, women’s shopping title, rolled out Cargo, a counterpart for men.
60 Samuel Newhouse Jr., 77, $7.0bn, USA, New York, N.Y. (USA) Industry: Media/Entertainment Marital Status: married , 3 children High School, Diploma With brother Donald, took over Advance Publications in 1979, newspaper and magazine company started by father, Sam Sr., in 1922. Beat IRS in huge estate tax battle after father’s death in 1979. “Si” oversees the biggest part of Newhouse media empire: Condé Nast (Vogue, Vanity Fair, Glamour), Fairchild (Details, Women’s Wear Daily, W), Bright House (cable system with 2.1 million subscribers), big stake in Discovery Communications (The Learning Channel). Also CondéNet: operator of Web sites Epicurious (food), Concierge (travel). Don runs newspapers (Cleveland Plain Dealer, Newark’s Star-Ledger). Company sold Random House book division for $1.4 billion, bought Wired magazine for $80 million at height of tech boom. After successful launch of Lucky, women’s shopping title, rolled out Cargo, a counterpart for men.
65 Adolf Merckle, 70, $6.9bn, Germany, Manheim (Germany) Industry: Pharmaceuticals Marital Status: married , 4 children Bachelor of Arts / Science Doctor of Jurisprudence Owns 57% of Germany’s largest pharmaceutical wholesaler, $21 billion (revenues) Phoenix Pharmahandel, which also happens to be Europe’s secondlargest wholesaler. Also owns private label drugmaker Merckle GmbH and leading generic drug producer Ratiopharm. Nonpharma interests include stakes in companies that make all-terrain vehicles, software systems and textiles. Time off: skiing and mountain climbing.
66 Stefan Quandt, 39, $6.7bn, Germany, Bad Homburg (Germany) Industry: Manufacturing Marital Status: single Technical University of Karlsruhe, Associate in Arts / Science This very eligible bachelor holds a 17% stake in luxury automaker BMW, the company his father, Herbert Quandt, rescued from bankruptcy. A trained engineer, he also owns and manages Delton AG, a $2.8 billion (sales) holding company whose subsidiaries include a logistics company, a supplier of electricity and a maker of homeopathic drugs. Other holdings include 77% of CEAG, a publicly traded power supply equipment maker; shares in logistics company Thiel; and a stake in Data Card Corp., makers of smart cards. Low-key and apparently allergic to the media, reveals very little about his personal life.
67 Micky Arison, 55, $6.5bn, USA, Bal Harbour, Fla. (USA) Industry: Service Marital Status: married , 2 children University of Miami, Drop Out Carnival Corp., world’s largest cruise operator after acquiring P&O Princess Cruises last year, was recently buoyed by recovering travel industry. Profits up 60% in the latest quarter. Now looking for bigger rebound courtside. Owner of Miami Heat basketball team, which, in its 16year history, has yet to reach the NBA finals, made blockbuster trade last year for Shaquille O’Neal. The cruise ship heir celebrated the announcement with champagne in Cannes, France.
68 Philip & Cristina Green, age N/A, $6.3bn, UK, Monaco Industry: Retailing Marital Status: married , 2 children Came almost out of nowhere to buy British Home Stores (now BHS), the U.K.’s fifth-largest retail chain, in May 2000. Two years later bought the country’s secondlargest clothing retailer, Arcadia Group Ltd. Together, the companies boast 42,000 employees, 2,500 outlets and $4.8 billion in revenues. Green boosted profits three years in a row despite flat sales. When will sales ever increase? “I’m working on it,” says Green. Transferred Arcadia to one of his investment vehicle’s arms and paid himself a handsome $950 million in dividends. Wife Cristina, who lives in tax haven Monaco, is investment vehicle’s ultimate controlling authority.
68 Maria-Elisabeth & Georg Schaeffler, age N/A, $6.3bn, Germany, Herzogenaurach (Germany) Industry: Manufacturing Marital Status: NA Mother and son jointly own INA Waelzlager Schaeffler KG, one of the world’s largest producers of roller bearings. Maria Elizabeth has run the $2.2 billion (sales) private company since her husband’s death in 1996. A well-known figure in Bavaria where she lives, she holds a position in the Nuremberg chamber of commerce and has been awarded the Bavarian Order of Merit for her achievements and commitment to social issues. Son Georg prefers to practice international law at Haynes & Boone in Dallas.
68 August von Finck, 74, $6.3bn, Germany, Thurgau (Switzerland) Industry: Investments Marital Status: married , 4 children Bachelor of Arts / Science Sold his insurance company Allianz and private bank Merck, Finck to Barclay’s Bank in 1990. The Swiss resident has invested the proceeds in a number of groups including real estate companies, an Austrian chemical manufacturer, breweries, a producer of champagne, hotels, restaurants and insurance.
71 Eli Broad, 71, $6.1bn, USA, Los Angeles, Calif. (USA) Industry: Manufacturing Marital Status: married , 2 children Michigan State University, Bachelor of Arts / Science Son of Lithuanian immigrants bought first piece of real estate at age 20. Cofounded Kaufman & Broad with $25,000. Became one of nation’s biggest home builders supplying parents of baby boomers with affordable housing. Bought Sun Life Insurance 1971; renamed SunAmerica, focused on retirement market. Sold to American International Group in 1998 for $18 billion. Last year led push to save Walt Disney Concert Hall. Big arts collector, benefactor: recently gave $60 million to the Los Angeles County Museum of Art.
72 Curt Engelhorn, 78, $6.0bn, Germany, Gstaad (Switzerland) Industry: Pharmaceuticals Marital Status: married , 5 children University of Texas Austin, Bachelor of Arts / Science Great-grandson of BASF founder Friedrich Engelhorn. Studied chemical engineering in Texas after World War II. Engineered the sale of pharmaceutical companies Boehringer Mannheim and DePuy Inc. to Roche for a cool $11 billion and took himself and his 40% share ($4.4 billion) of the sale of the company to Switzerland where he lives with fourth wife, Heidemarie.
72 Friedrich Flick Jr., 78, $6.0bn, Germany, Vienna (Austria) Industry: Investments Marital Status: married , 4 children Bachelor of Arts / Science Cashed out in 1986. Sold Friedrich Flick KGaA the industrial empire built up by his father that included stakes in Daimler-Benz and W.R. Grace, for $3 billion. Now retired, lives in Austria with his third wife, Ingrid, and their 6-year-old twins. A passionate hunter, owns 12,000 hectares of land reserved for hunting in Austria, near the Hungarian border.
72 Edward Johnson III, 74, $6.0bn, USA, Boston, Mass. (USA) Industry: Finance Marital Status: married , 3 children Harvard University, Bachelor of Arts / Science With daughter Abigail, controls Fidelity Investments, nation’s largest mutual fund company with $1.1 trillion under management. Father, Edward II, acquired FMR 1946; phenomenal stock picker: “The market is like a beautiful woman—always fascinating, always mystifying.” Ned became president 1972; master marketer created a mutual fund for a wide range of investment strategies. Reduced ownership for estate planning 1995. Primary recipients: employees, daughter Abby—now FMR’s largest shareholder. Ned still owns 12%.
72 Nicky Oppenheimer & family, 59, $6.0bn, South Africa, Johannesburg (South Africa) Industry: Mining/Lumber Marital Status: married , 1 child Christ Church, Oxford U, Bachelor of Arts / Science Christ Church, Oxford U, Master of Arts The richest man in Africa derives most of his wealth from diamond empire De Beers. Third generation to run the company, becoming chairman in 1998 and taking the group private in 2001. Long-standing U.S. antitrust case against De Beers was finally settled last summer, but group is still subject to two civil suits. Big year ahead: De Beers South African subsidiary, run by son Jonathan, is expected to select a black empowerment partner and LVMH De Beers is set to open its first New York store. American daughter-in-law Jennifer was recently
put in charge of De Beers Fund, the company’s philanthropic initiatives. Company is pushing into new markets like China, where De Beers is thriving. Besides diamonds, passions include conservation (owns Tswalu Kalahari Reserve), helicopters (flies his own) and cricket (notepads in his office read: “Things I must do before cricket”).
76 Francois Pinault, 68, $5.9bn, France, Paris (France) Industry: Diversified Marital Status: married , 4 children High School, Drop Out Majority shareholder of the famed luxury goods purveyor PPR (formerly PinaultPrintemps-Redoute), whose famous brand portfolio includes Gucci and Bottega Veneta. Pinault was able to breathe easier after settling for $185 million with the state of California for his role in the Executive Life Insurance scandal. Still, a pending civil suit regarding the Nineties-era purchase of the insurance company’s junk bonds popped up, and raises the possibility of more fines in Pinault’s future. In a bold step toward solidifying his control over the retail empire, Pinault removed the wellregarded Serge Weinberg from his chairman post, installing son François-Henri in his place. Pinault began work last year on a 352,000-square-foot museum in the former Renault factory in western Paris, designed by Tadao Ando, to house his massive art collection.
77 Philip Anschutz, 65, $5.8bn, USA, Denver, Colo. (USA) Industry: Investments Marital Status: married , 3 children University of Kansas, Bachelor of Arts / Science Former oilman now runs wide-ranging empire in telecom, sports and entertainment. Two biggest holdings: fiber-optic company Qwest, theater chain Regal Cinemas. Owns LA’s Staples Center and London’s Millennium Dome as well as Major League Soccer teams and stakes in NBA Lakers and NHL Kings. Also recently purchased troubled San Francisco Examiner for estimated $20 million. Promoter of family-values agenda through motion picture projects. Philanthropist also sponsors nationwide billboard campaign featuring celebrities and altruistic “Pass It On” slogan.
77 Ernesto Bertarelli, 39, $5.8bn, Switzerland, Geneva (Switzerland) Industry: Pharmaceuticals Marital Status: married Babson College, Bachelor of Arts / Science Harvard University, Master of Business Administration Biotech billionaire is navigating choppy seas. Serono, the biotech company he inherited from his father, has no new products scheduled to come to market for two years and a former U.S. regional sales director pled guilty to offering kickbacks to three New York City doctors. Pressure has eased now that Serono’s biggest product Rebif has one less competitor; in February, Biogen and Elan pulled their jointly developed drug, Tysabri, after a patient died. The yachtsman who won an America’s Cup in 2003 has now been dragged into court by his winning team’s former skipper, who accuses Bertarelli of unjustly firing him. At least the movie-star-handsome tycoon can find solace at home with his wife, a former beauty queen, and their two children.
77 Nobutada Saji & family, 59, $5.8bn, Japan, Hyogo (Japan) Industry: Beverages Marital Status: married University of California at Los Angeles, Master of Business Administration While Suntory sales fell nearly 5% last year, profits rose 13% to $219 million thanks to more effective supply-chain management. From a spiffy new $190 million new headquarters in Tokyo’s bay area the company is aggressively pushing its products in China, mainly Shanghai. Though it specializes in liquid and food, Suntory—against all odds—engineered the world’s first blue rose, which it plans to introduce to the market in a few years.
80 Sulaiman Bin Abdul Al Rajhi, 85, $5.6bn, Saudi Arabia, Jeddah (Saudi Arabia) Industry: Finance Marital Status: married , 23 children King Abdulaziz University, Bachelor of Arts / Science One of four brothers, Sulaiman owns the largest stake in the family’s Al Rajhi Banking and & Investment Corp., which operates under Islamic principles, paying no interest on deposits. As the bank’s chairman and managing director, he’s also the most active in the operations. Saudi Arabia’s oil boom has helped boost profits recently, and the bank was just awarded title of “Best Islamic Banking in the World” by the International Convention of Islamic Banks. His holding company, Al-Watania, also owns the largest chicken processor in the Middle East as well as other industrial and real estate properties.
80 Yoshitaka Fukuda & family, 57, $5.6bn, Japan, Kyoto (Japan) Industry: Finance Marital Status: married , 3 children High School, Drop Out His Aiful took the lead as Japan’s largest consumer finance company in terms of sales, thanks to the stumble of scandal-tainted rival Takefuji. Last year profits rose 4% to $4.5 billion. A Chihuahua featured in Aiful commercials became an overnight sensation, and Chihuahuas selling for $1,500 a pop replaced dachshunds as pet store favorites. But all was not rosy. In August Fukuda was found guilty of failing to declare $647,000 in income between 2000 and 2001. Fukuda ias an avid fisherman, focusing on sweetfish in particular.
80 Gerald Cavendish Grosvenor & family, 53, $5.6bn, UK, Chester (UK) Industry: Real Estate Marital Status: married , 4 children Harrow College of Higher Education The sixth Duke of Westminister is one of the largest landowners in London’s tony Mayfair and Belgravia. Also owns 100,000-plus acres in the English and Scottish countryside and has properties in the U.S. and Asia. In 2004 became head of the U.K.’s 254,800 member U.K.’s Territorial Army and has since traveled to Iraq four times to visit British reservists stationed there.
80 Reinhard Mohn & family, 83, $5.6bn, Germany, Guetersloh (Germany) Industry: Media/Entertainment Marital Status: married , 6 children Owns 17% of media conglomerate Bertelsmann AG, whose assets include RTL, Europe’s number one TV and radio group; Random House, the world’s largest bookpublishing group; Gruner + Jahr, Europe’s biggest magazine publisher. Also has joint venture with Sony Co. that includes such record labels as Arista (Whitney Houston, Santana), Columbia Records (Aerosmith, Tony Bennett, Bob Dylan, Dixie Chicks), and Epic Records (Jennifer Lopez). Reinhard’s wife, Liz Mohn, works on behalf of stroke victims.
84 Shari Arison, 47, $5.5bn, Israel, Tel Aviv (Israel) Industry: Gambling /Leisure Marital Status: married , 4 children Bachelor of Arts / Science Another eventful year for Israel’s richest resident, who derives most of her fortune from cruise line Carnival Corp. Left Israel in 2003 with her youngest son in tow, prompting charges of kidnapping from her Israel-based ex-husband. Federal court in Miami dismissed the case, and Arison recently returned to Israel. Her current husband faces sexual harassment allegations in Israel, including one from a nurse who tended to Arison after she underwent plastic surgery. Carnival, managed by brother Micky Arison, has fared well since its successful megamerger with P&O Princess Cruises. Other holdings include a controlling stake in Israel’s Bank Hapoalim, Housing & Construction and Eurocom, Israel’s exclusive Nokia distributor.
84 Oleg Deripaska, 36, $5.5bn, Russia, Moscow (Russia) Industry: Manufacturing Marital Status: married Former metals trader survived the gangster wars in the aluminum industry. In 2000, at age 31, assumed control of Russian Aluminum, the country’s dominant producer. His holding company, Basic Element, now owns Russian Aluminum, automobile manufacturer GAZ, aircraft manufacturer Aviacor and insurance company Ingosstrakh. Deripaska feels secure about his property in Russia; instead of liquidating assets, like Abramovich, he is investing heavily in expanding his Russian business empire. Married into family of former President Yeltsin.
84 Yasuo Takei & family, 75, $5.5bn, Japan, Tokyo (Japan) Industry: Finance Marital Status: married , 3 children Two years ago Takei, founder of consumer loan giant Takefuji, was arrested on wire-tapping charges stemming from allegations that he compelled employees to tap the phones of journalists critical of his company. He was found guilty in November and sentenced to a four-year probation of sorts. Should he violate the terms of that agreement, he will face a prison sentence of at least three years. The results of his bad behavior haven’t been good for Takefuji, which saw rivals like Acom and Promise encroach on its turf. Last year (year ending March 2004) Takefuji’s net profit fell 21% to $708 million on diminished sales.
87 Jean-Claude Decaux & family, 67, $5.4bn, France, Paris (France) Industry: Media/Entertainment Marital Status: married , 3 children Decaux saw his fortunes rise $2 billion this year, thanks to the advertising bounce-back in Europe. His eponymous company is responsible for the outdoor ads splashed across bus shelters, airports, billboards and subway stations in some 3,500 cities in 43 countries worldwide. In partnership with NBC Universal, Decaux is currently vying for a $1 billion, twenty-year outdoor advertising contract with New York City. Founder Decaux keeps the business in the family. His sons Jean-Francois and Jean-Charles share the top spot.
87 Antonia Johnson, 61, $5.4bn, Sweden, Stockholm (Sweden) Industry: Diversified Marital Status: married , 4 children Heads privately held $9.4 billion (sales) A. Johnson & Co., a trading company founded by her greatgrandfather in 1873. Took over in 1982. The diversified company has interests in energy, real estate, telecom and food retailing. Antonia, who rides and raises horses, spent a year at Radcliffe College in Cambridge Mass. as a foreign exchange student. She is a member of the board of the City Mission of Stockholm, an organization to help the homeless, and the World Childhood Foundation.
87 Johanna Quandt, 77, $5.4bn, Germany, Bad Homburg (Germany) Industry: Manufacturing Marital Status: widowed , 2 children Third wife and widow of Herbert Quandt, the man credited with rescuing BMW from bankruptcy. Owns 17% share in BMW, one of the last remaining independent luxury carmakers (Porsche is the other). Lives in the spa town of Bad Homburg near Frankfurt.
90 Maersk Mc-Kinney Moller, 91, $5.3bn, Denmark, Copenhagen (Denmark) Industry: Shipping/Trucking/Transport Marital Status: married , 3 children
Shipping magnate donated $440 million to create Copenhagen’s new opera house but came under fire from architect for his insistence on placing steel beams over the building’s glass front, reportedly so people on the outside could not look in. Those beams were firmly in place at opera house’s opening performance of Aida in January. In 2003 retired as chairman of family’s shipping company A.P. Moller-Maersk Group, founded by his father and grandfather in 1904. Today the Moller-Maersk empire has the world’s largest fleet of container ships, some of which were used to transport supplies to Asia during the tsunami relief effort.
91 Joseph & Moise Safra, age N/A, $5.2bn, Brazil, Sao Paulo (Brazil) Industry: Finance Marital Status: NA Following in the footsteps of generations of Safra bankers in the Middle East and later Brazil, these brothers have built Banco Safra into Brazil’s eighth-largest bank. Last year Banco J. Safra, founded in 1998 to manage Joseph’s personal fortune, began operating as a commercial bank—competing with Banco Safra. Joseph’s second son, Alberto Joseph, runs that outfit, while elder son, Jacob Joseph, runs Safra National Bank of New York. (A third son attends college.) Other investments include a stake in Brazilian pulp and paper maker Aracruz and Israeli mobile phone company Cellcom. Deceased brother Edmond Safra had a separate billion-dollar banking fortune.
91 Onsi Sawiris & family, 75, $5.2bn, Egypt, Cairo (Egypt) Industry: Manufacturing Marital Status: married , 3 children Founder of the Orascom conglomerate, whose construction, telecommunications and tourism divisions are run by his three sons. Part of the fortune rests in a joint venture with Swiss cement giant Holderbank. The result: Orascom Construction controls over 25% of Egypt’s cement market. Orascom Telecom is the leading mobile phone operator throughout Africa, the Middle East and Pakistan, with 11 million subscribers. Relaxes at one of the Orascom Hotel Development resorts on the Red Sea or the Sinai Peninsula.
93 Dan Duncan, 72, $5.1bn, USA, Houston, Texas (USA) Industry: Oil/Gas Marital Status: married , 4 children Cofounder, chairman and majority shareholder of Enterprise Products Partners, massive natural gas liquids pipeline and storage company. Native of small-town Center, Tex. was raised by grandmother from age 7 after mother and only sibling died. Cites grandmother’s motto, “Do the best you can every day,” as foundation for his business philosophy. Roughneck after high school; Army stint. Studied at Massey Business College and South Texas College before starting Enterprise Products with 2 partners, 1 truck and $10,000 in 1969. Bought out last partner 1989, went public 1998 as master limited partnership; still owns 53% of company. Avid hunter has stalked big game on 6 continents. Low media profile, but gives heavily to Republican politicians around the country.
94 Michael Bloomberg, 62, $5.0bn, USA, New York, N.Y. (USA) Industry: Media/Entertainment Marital Status: divorced , 2 children Johns Hopkins University, Bachelor of Arts / Science Harvard University, Master of Business Administration How’m I doing? New York City’s Mayor Mike didn’t coin the question, but the answer is “Just fine.” Bloomberg L.P.’s growth stalled with the markets, but with stocks back in go-go mode, demand for his eponymous company’s data terminals is up. Most creative use of market forces by a politician: gambit to keep city calm during Republican convention was to offer protesters discounts at NYC shopping, dining establishments in exchange for not rioting.
94 Gustavo Cisneros & family, 59, $5.0bn, Venezuela, Caracas (Venezuela) Industry: Media/Entertainment Marital Status: married , 3 children Babson College, Bachelor of Arts / Science Media baron whose Cisneros Group includes 14% stake in Spanish-language TV network Univision, AOL Latin America and a score of other media companies; 80% of holdings outside Venezuela. Outspoken critic of Venezuela’s President Hugo Chavez, he uses his private TV station to denounce the politician. A socialite, hobnobs with U.S. friends such as Jimmy Carter and George H.W. Bush. He and his wife, Patricia, are also major collectors of Latin American art.
94 Rafael del Pino, 84, $5.0bn, Spain, Madrid (Spain) Industry: Engineering/Construction Marital Status: married , 5 children ETSIC of Madrid Founded construction company Ferrovial in 1952. The $7.7 billion (2003 sales) group is now one of Spain’s largest builders. Company also has interests in real estate; services such as waste disposal; and airports in the U.K., Chile and Australia. Also manages toll roads in Spain, Portugal, Canada, Chile and Ireland. Now retired, has been awarded Spain’s Royal Academy of History’s gold medal for his promotion of cultural and historical understanding via the Rafael del Pino Foundation. Son Rafael Jr. heads the business.
94 Robert Kuok, 81, $5.0bn, Malaysia, Hong Kong Industry: Agriculture Marital Status: married , 8 children Raffles College, Bachelor of Arts / Science Southeast Asia’s richest man. Has holdings throughout Asia, including the Shangri-La hotel chain, Hong Kong’s South China Morning Post newspaper and Kerry Beverages, one of the biggest Coca-Cola bottlers in China. Also has vast holdings in shipping, sugar trading and other commodities as well as substantial investments in China beyond the bottling operations. Got his start in the sugar business back in the late 1950s.
94 Kerry Packer, 67, $5.0bn, Australia, Sydney (Australia) Industry: Media/Entertainment Marital Status: married , 2 children Major shareholder of Australian media empire Publishing & Broadcasting Ltd is himself a regular in the Aussie press. In 2003 settled a 1997 defamation suit against a TV program that accused him of wrongdoing. Only two months earlier lost a suit accusing the Sydney Morning Herald of publishing a fictional quip that portrayed him as a greedy megalomaniac. The renowned gambler is increasing his casino holdings: through PBL paid $670 million to take over Burswood International Resort Casino in August and is teaming up with Macau gaming mogul, billionaire Stanley Ho to build a hotel-casino. PBL has enjoyed 8% average annual growth (operating revenue) since 2002, and the stock rose 40% last year alone.
94 Hasso Plattner, 61, $5.0bn, Germany, Heidelberg (Germany) Industry: Software Marital Status: married , 2 children University of Karlsruhe University of Karlsruhe, Master of Science Cofounded SAP, German software giant, with four IBM colleagues. Now retired, he has many activities to keep him busy. A sports enthusiast, he skis, snowboards, plays golf and tennis, and sails (has raced in the America’s Cup). Also gives lectures in computer sciences as honorary professor at the University of Potsdam. His nonprofit foundation, the Hasso Plattner Förderstiftung, supports AIDS prevention in South Africa and scholarships at several universities. His pet project is the H.P. Institute for Software Systems Engineering, established in 1999 to train IT engineers.
94 Jeffrey Skoll, 40, $5.0bn, Canada, San Jose, Calif. (USA) Industry: Technology Marital Status: single University of Toronto, Bachelor of Arts / Science Stanford University, Master of Business Administration Ebay’s first president and full-time employee, Skoll is no longer involved in dayto-day but remains its second-largest shareholder. Ebay stock on a rollercoaster ride: Shares were up 69% over last nine months of 2004, but have fallen 28% since the beginning of January. Skoll has endowed his Skoll Foundation with at least $300 million, which gives away millions in grants and loans to “social entrepreneurs” around the globe. Also an investor in Ovation Entertainment, a southern California film production outfit whose purpose is to make movies about social issues and people doing good. Pumped gas in North York, Ont. before getting an M.B.A. from Stanford in 1995.
94 Viktor Vekselberg, 47, $5.0bn, Russia, Moscow (Russia) Industry: Oil/Gas Marital Status: married , 2 children Moscow State University of Railway Transport, Bachelor of Arts / Science Ukrainian-born oil baron and deal junkie studied at Moscow State University of Railroad Engineering in 1970s. Through his management company, Renova, orchestrated Russia’s first successful hostile takeover, of the Vladimir Tractor Factory, in 1994. Later bought medium-size aluminum smelters and bauxite mines and in 1996 united them into Sual Holding, Russia’s second-largest aluminum company. Vekselberg made the bulk of his fortune when he and Mikhail Fridman’s Alfa Group took over TNK, which merged with BP in 2003; it is now Russia’s second-largest private oil company. Last year bought the Forbes Fabergé collection for an undisclosed sum, promising to return it to Russia, where it is now touring. Now laying low to avoid Kremlin scrutiny.
94 H. Ty Warner, 61, $5.0bn, USA, Chicago, Ill. (USA) Industry: Manufacturing Marital Status: single Kalamazoo College, Bachelor of Arts / Science Kalamazoo College dropout took job selling stuffed toys. Quit to bum around Italy. Returned home, began designing own line of stuffed Himalayan cats, other animals before creating Beanie Babies: understuffed toy animals affordably priced for the allowance set. Limited production runs spawned frenzied buying by adults who drove prices up to $12,000. Mania finally subsiding: toymaker’s sales off sharply from their high, but Ty Inc. still immensely profitable. Reinvesting in real estate. Four Seasons hotels in New York City, Santa Barbara; Kona Village resort in Hawaii.
103 Charlene de Carvalho-Heineken, 50, $4.9bn, Netherlands, London (UK) Industry: Beverages Marital Status: married , 5 children Rijnlands Lyceum Wassenaar, Bachelor of Arts / Science University of Leiden, Doctor of Jurisprudence Inherited a 25% stake in Dutch brewer Heineken upon her father’s death three years ago. Recent consolidation in the suds business—SABMiller and InBev are the new industry behemoths—has knocked Heineken from to fourth in terms of global volume. Heineken’s own efforts at swallowing smaller regional breweries have generally fallen flat. De Carvalho-Heineken, mother of five and wife of investment banker Michel de Carvalho, enjoys photography, music and architecture. She is also a member of St. Moritz’s elite Corviglia Ski Club.
103 Eitaro Itoyama, 62, $4.9bn, Japan, Tokyo (Japan) Industry: Real Estate Marital Status: married , 2 children Nippon University, Bachelor of Arts / Science Owns vast, privately held real estate portfolio. Itoyama, a former politician, is a large shareholder of Mitsubishi Heavy Industry and JAL. A vocal shareholder, he publicly criticizes Mitsubishi in his sporadically maintained online journal. One of his entries includes a vociferous gripe against Mitsubishi Motors CEO Takashi Nishioka, for throwing money into rebuilding Mitsubishi Motors. “If he was really that capable, he would have been able to inflate the stock price much higher,” he said. “What in the world kind of math did he come up with?”
103 Rahmi Koc & family, 74, $4.9bn, Turkey, Istanbul (Turkey) Industry: Diversified Marital Status: married , 3 children Johns Hopkins University, Bachelor of Arts / Science With passing of fellow industrialist Sakip Sabanci last year, Rahmi Koc remains as the last of Turkey’s great corporate chiefs. Koc ran the famed Koc Group from 1984 until 2003, then handed stewardship to son Mustafa. The elder Koc and relatives sold $100 million worth of Koc Holding early last year, but company is anything but a sleeper. It recently announced plans to pay $1.6 billion for 57% of debt-laden Yapi Credi Bank, in a joint venture with UniCredito of Italy. Then Wal-Mart kicked the tires of the Koc family-controlled supermarket chain, Migros, though no deal yet. The family patriarch might not be the one crunching numbers— the active 73-year-old, an avid sailor, reportedly keeps busy funding archaeological digs.
103 Ronald Perelman, 62, $4.9bn, USA, New York, N.Y. (USA) Industry: Investments Marital Status: married , 6 children University of Pennsylvania, Bachelor of Arts / Science University of Pennsylvania Wharton School, Master of Business Administratio Leveraged-buyout king applying extreme makeover to Revlon. Announced massive stock-for-bonds swap last year, reduced company’s debt burden by $900 million. Wharton grad got start helping father run family’s Philadelphia metal-fabricating business. Bought $1.9 million stake in a jewelry distributor 1978; built into conglomerate MacAndrews & Forbes using high-yield debt from Drexel Burnham. Created moneymaking machine: buy undervalued assets with leverage, divest all but cash cows, use money to bag bigger companies. Most lucrative deal: selling Golden State Bancorp to Citigroup in 2002 for $6 billion; stake now worth $1.7 billion. Other investments: Scientific Games, Panavision. Married to actress Ellen Barkin, good friends with rocker Jon Bon Jovi. Onetime cigar enthusiast rarely seen without a stogie in tow gave up smoking in 2002.
107 Karl-Heinz Kipp, 81, $4.8bn, Germany, Arosa (Switzerland) Industry: Retailing Marital Status: married , 2 children Opened his first department store in 1948. Sold his Massa chain in 1985 but held onto the real estate, which he now rents out to giant retailer Metro. Owns seven prime properties in New York City, including three buildings on Fifth Avenue and one on Madison. Lives at the Hotel Tschuggen in Arosa, one of four luxury hotels he owns in Switzerland.
107 Alexei Mordashov, 39, $4.8bn, Russia, Moscow (Russia) Industry: Manufacturing Marital Status: married , 3 children Bachelor of Arts / Science University of Northumbria, Master of Business Administration Boss of Severstal, Russia’s second-largest steel company. Son of millworker parents, in the mid-1980s studied economics in Leningrad. Later was named finance director of a steel mill. When the plant’s elderly general director instructed him to buy up shares of the company so it would not fall into the hands of an outsider, Mordashov bought most of the shares himself. Became general director and built it into a conglomerate, acquiring automakers, coal companies, transportation companies and port facilities. In
2003 he outbid U.S. Steel to buy bankrupt Rouge Industries of the U.S. for $285 million. A leading proponent of Western-style management training, Mordashov is advocating for Russia’s entry into the WTO.
107 Jim Pattison, 76, $4.8bn, Canada, Vancouver (Canada) Industry: Diversified Marital Status: married , 3 children University of British Columbia Master conglomerator got his start flipping used cars to his college classmates. Branched out from car dealerships into fishing, media, packaging and supermarkets. Currently focusing on growing Ripley’s Believe it or Not, the touristy museum chain. Recent project: Bringing an eight-legged bison to the Niagara Falls museum.
107 Alain & Gerard Wertheimer, age N/A, $4.8bn, France, Paris (France) Industry: Apparel Marital Status: NA Luxe titan Chanel is tightly controlled by brothers Alain and Gerard Wertheimer. Last year Chanel’s most popular designer, Karl Lagerfeld, shook the fashion world with his line for discount clothier H&M, but analysts warn that it may be risky for the exclusive brand to dabble in mass luxury. Last year also marked Chanel’s mega-advertising push, as the brand ponied up a reported $5 million on production of an ad starring Nicole Kidman as the new spokesperson for No. 5. The brothers Wertheimer own French vineyards like Rauzan-Segla in Margaux and Chateau Canon in Saint-Emilion, both of which have won rave reviews from oenophiles.
111 Kunio Busujima & family, 79, $4.7bn, Japan, Kiryu (Japan) Industry: Gambling /Leisure Marital Status: married , 4 children Kiryu Commerce & Technical School, Bachelor of Arts / Science Busujima used to work for rival pachinko machine manufacturer Heiwa before he founded Sankyo in 1966. One of the few listed companies in Japan’s pachinko gambling industry, Sankyo is the second-largest maker of pinball machines, with a 16% market share. In part thanks to the introduction of high-tech, digitalized pinball machines using LCD screens, Sankyo saw profits climb 47% to an all-time high of $260 million in the year ending March 2004.
111 Michael Kadoorie & family, 64, $4.7bn, Hong Kong, Hong Kong Industry: Diversified Marital Status: married Brothers Elly and Ellis Kadoorie, émigrés from Baghdad, founded hotels in Shanghai and Hong Kong nearly 100 years ago. Michael, grandson to Elly, now oversees the family’s interests, which include power supplier CLP Holdings and hotels. While the Peninsula in Hong Kong remains their jewel hotel, family is returning to its Shanghai roots, opening a Peninsula hotel there.
111 Kyosuke Kinoshita & family, 64, $4.7bn, Japan, Tokyo (Japan) Industry: Finance Marital Status: married , 3 children Ritsumeikan University, Bachelor of Arts / Science Kinoshita’s Acom is Japan’s largest consumer finance company specializing in consumer-oriented collateral-free loans. Fewer customers are turning to consumer loans and Acom profits fell 6% to $670 million last year (fiscal year ending March 2004). Though low-wage earners represent Acom’s traditional customer base, the company nonetheless formed an alliance last year with Japan’s megabank Tokyo-Mitsubishi in an attempt to tap more affluent customers the bank holds. In his spare time Kinoshita enjoys Japanese traditional Noh plays.
111 Ferit Sahenk & family, 41, $4.7bn, Turkey, Istanbul (Turkey) Industry: Finance Marital Status: married , 1 child Boston College, Bachelor of Arts / Science Turkey’s youngest billionaire runs powerful Dogus Holding conglomerate, which boasts a vast portfolio of banking, media and construction holdings. Not wanting to relinquish too much control, Ferit shelved a buyout offer from Italy’s UniCredito for his Garanti Bank, whose publicly held shares analysts consider overvalued. Apparently snooping for deals in Turkey’s national lottery privatization program. He’s also increasing the value of his Tansas supermarket chain, which has finished a massive debt restructuring. The subject of a Harvard Business School case study, Sahenk is an enthusiastic Leica camera snapper whose black-and-white photos he shares with few.
115 Robert Bosch Jr. & family, 77, $4.6bn, Germany, Stuttgart (Germany) Industry: Manufacturing Marital Status: married , 6 children Bachelor of Arts / Science Doctorate With sister, Eva, owns 8% of $45 billion (sales) engineering giant Robert Bosch GmbH, maker of auto parts, automation equipment, central-heating boilers and power tools. Family foundation holds the remaining 92%. A trained psychologist, Bosch also has his own foundation that focuses on education and helps the handicapped.
116 Giorgio Armani, 70, $4.5bn, Italy, Milan (Italy) Industry: Apparel Marital Status: NA University of Bologna Much-celebrated fashion designer is these days contemplating the future of his $2 billion (2003 sales) private company, which boasts 5,000 employees, 13 factories and more than 300 retail stores in 37 countries. Announced late last year that he will likely sell the company when he retires, rather than take it public or appoint someone else to run it. Armani has diversified far beyond clothing into perfumes, home decor, cosmetics, cafes—even flowers and chocolates—and is now getting into the hotel business. Armani also owns his own restaurant, part of the famed Nobu sushi franchise, as well as a night club in Milan. Spent two years in medical school before dropping out in 1957 to accept a job as a department store buyer. Armani is Goodwill Ambassador for the United Nations High Commission for Refugees.
117 David Geffen, 62, $4.4bn, USA, Malibu, Calif. (USA) Industry: Media/Entertainment Marital Status: single University of Texas Austin, Drop Out Last fall the music impresario took public the animation unit of DreamWorks SKG, the boutique film studio he cofounded with Steven Spielberg and Jeffrey Katzenberg. His timing couldn’t have been better: company’s Shrek 2 was last summer’s blockbuster, making $860 million at the box office. How to spend the proceeds? Geffen says he will hand over all of his DreamWorks profits to charity. Contemporary art collector (Jackson Pollock, Jasper Johns, Willem de Kooning) lately slowing down: “What good is art if you don’t have the walls to hang it on?”
117 James, Arthur & John Irving, age N/A, $4.4bn, Canada, St. John (Canada) Industry: Oil/Gas Marital Status: NA Founded by father K.C. Irving, the Irving conglomerate operates dozens of companies that together dominate the economy of New Brunswick and Maritime Canada. The highly private brothers manage a labyrinthine collection of assets, including Canada’s biggest oil refinery, 1.6 million acres of Maine timberland and 600 filing stations and truck stops. Much of the family’s trust rumored to be held in tax-haven Bermuda. Minor
2003 scandal still in the Canadian papers: prominent Canadian politicians were resoundingly criticized for taking free flights on Irving’s private jet and vacationing at their massive New Brunswick estate. Family later donated $2 million to fund journalism programs at two New Brunswick universities.
117 Fukuzo Iwasaki, 80, $4.4bn, Japan, Kagoshima (Japan) Industry: Real Estate Marital Status: married , 3 children Rikkyo University, Bachelor of Arts / Science Iwasaki lords over a diverse conglomerate, headquartered in Japan’s conservative southern island of Kyushu, that includes transportation, tourism and hotel assets. The company, which enjoys a monopoly in the Kyushu area, doesn’t disclose profits on its $760 million in sales. But gloomy signs abound: In the past few years Iwasaki has shuttered several of its resorts and theme parks, remnants of Japan’s bubble economy. Iwasaki’s son, daughter and brother sit on his board of directors.
117 Vladimir Potanin, 44, $4.4bn, Russia, Moscow (Russia) Industry: Mining/Lumber Marital Status: married , 3 children Bachelor of Arts / Science With Mikhail Prokhorov, built large holding company Interros by winning over the corporate customers of two huge Soviet-era banks in 1992. He and Prokhorov later got control of metals giant Norilsk Nickel and oil company Sidanco in controversial “loans-for-shares” auctions. Has variously served as a deputy prime minister of the economy; partner to George Soros in telecom monopoly Svyazinvest; and even as a member of the board of the Guggenheim Museum, which he joined in 2002. His Interros holding company remains broadly diversified, with interests in metals, insurance, media, agriculture and engineering. Last year he bought the last remaining U.S. platinum and palladium producer, Stillwater Mining, for $255 million. He spent much of last year trying to reach an agreement with Siemens about a takeover of one of his holdings, Power Machines. The Russian government is currently reviewing the proposed deal.
117 Mikhail Prokhorov, 39, $4.4bn, Russia, Moscow (Russia) Industry: Mining/Lumber Marital Status: single Bachelor of Arts / Science With Vladimir Potanin, built large holding company Interros by winning over the corporate customers of two huge Soviet-era banks in 1992. The group now has interests in metals, engineering, agriculture and media. Since 2001 Prokhorov has been chairman of its most valuable holding, metals conglomerate Norilsk Nickel; he has a slightly larger stake than Potanin. A bachelor, Prokhorov is often featured in the gossip pages for his blowout parties on the French Riviera. But then it’s back to work at his metals plant in the Arctic circle.
122 Vagit Alekperov, 54, $4.3bn, Russia, Moscow (Russia) Industry: Oil/Gas Marital Status: married , 1 child Azerbaijan Institute of Oil and Chemistry, Bachelor of Arts / Science Heads Russia’s largest oil company, Lukoil. As deputy minister of fuel and energy in 1991, the last year of Soviet rule, he cobbled together oil giant Lukoil out of some of the best Russian oil properties. He then muscled in on a big deal in the Caspian Sea, bought refineries in eastern Europe and the Getty gas station chain in the U.S. After a few difficult years in which Lukoil underperformed its Russian rivals, the company is growing again. Alekperov is in good standing with President Vladimir Putin. He also got permission to develop an oilfield in Saudi Arabia and is moving ahead with plans to export Russian oil directly to the U.S. Last year, 10% of the company was sold to ConocoPhillips.
122 Donald Bren, 72, $4.3bn, USA, Newport Beach, Calif. (USA) Industry: Real Estate Marital Status: married , 6 children University of Washington, Bachelor of Arts / Science After Marines, built first house on $10,000 loan 1958. Started home-building company, sold to International Paper for $34 million in 1970. Became majority owner of Irvine Co., including Irvine Ranch south of Los Angeles. Now sells finished plots on the 93,000-acre tract for more than $1 million an acre. Also 400 office buildings, 35 shopping centers, 80 apartment complexes, 2 luxe hotels. Big supporter of educational, conservational causes, Arnold Schwarzenegger’s political career.
122 Walter Haefner, 94, $4.3bn, Switzerland, Zurich (Switzerland) Industry: Technology Marital Status: married , 2 children University of Lyon, Bachelor of Arts / Science University of Zurich, Master of Business Administration The loyalist. Computer Associates’ biggest individual shareholder with a 21.4% stake still holding onto his shares despite the software company’s recent problems, which led to the chief executive’s departure last year. Also owns shares in troubled airline Swiss International. Better luck for him at the horse track: owns Ireland’s Moyglare Stud Farm, which has bred recent winners Simple Exchange and Media Puzzle.
122 Erivan Haub & family, 72, $4.3bn, Germany, Mülheim an der Ruhr (Germany) Industry: Retailing Marital Status: married , 3 children University of Hamburg, Bachelor of Arts / Science Owns the Tengelmann Group, one of Germany’s largest food retailers. Also controls 57% of A&P, the struggling supermarket chain. Haub has retired, leaving sons Karl-Erivan, Georg and Christian to run the show. The Haubs are staunch friends of the U.S. and are well-known in Tacoma, Wash., where they own extensive real estate and where the Haub “boys” were born. They also own a ranch in Wyoming and a first-class resort, Sun Valley Mountain Lodge, in the Cascades.
122 Kun-Hee Lee & family, 63, $4.3bn, South Korea, Seoul (S. Korea) Industry: Technology Marital Status: married , 4 children Waseda University George Washington University, Master of Business Administration Oversees one of the largest chaebol—conglomerates—owned by a single family in South Korea. Its flagship, 35-year-old Samsung Electronics, had a banner year, posting $55 billion in sales, up 32% over the previous year, with profits up 90% over the same period. He is an avid skiier and as an art lover art; founded an art museum that opened last October in Seoul.
122 Gordon Moore, 76, $4.3bn, USA, Woodside, Calif. (USA) Industry: Technology Marital Status: married , 2 children University of California Berkeley, Bachelor of Arts / Science California Institute of Technology, Doctorate Caltech grad took job researching weapons propulsion at Johns Hopkins; stumbled upon the integrated circuit and became known for Moore’s Law (by which the number of transistors on a microchip doubles every 18 months). Founded Intel in 1968 with Robert Noyce (d. 1990) and $2.5 million investment led by venture capitalist Arthur Rock. Intel had meteoric growth until tech slump; thriving again in servers, wireless equipment. Moore would be worth twice as much, but in 2000 he donated half his Intel stake to charity-environmental causes and education, including $300 million to his alma mater.
122 Henry Ross Perot & family, 74, $4.3bn, USA, Dallas, Texas (USA) Industry: Investments Marital Status: married , 5 children US Naval Academy, Bachelor of Arts / Science Former IBM salesman founded Electronic Data Systems 1962, sold to General Motors for $2.5 billion in 1984. Parted ways with GM, founded information services firm Perot Systems 1988. Stepped down to concentrate on politics in 1992; made 2 unsuccessful bids for presidency with dire warning that free-trade agreements would create “giant sucking sound” as jobs moved abroad. Own company joining the chorus, adding low-level tech jobs at subsidiary in India. Son Ross Jr. took over company in 2000, emphasized consulting practice; also controls family’s considerable real estate holdings.
122 David Sainsbury & family, 64, $4.3bn, UK, London (UK) Industry: Retailing Marital Status: married , 3 children University of Cambridge, Bachelor of Arts / Science Columbia University, Master of Business Administration Tony Blair’s Science Minister owes his wealth to his family’s iconic Sainsbury grocery business, which reported its first-ever loss last year. Intensifying competition, notably from discount heavies Tesco and WalMart, has eaten away at the business, prompting new Chief Justin King to launch a $1 billion restructuring drive. All of Lord Sainsbury’s wealth is held in a blind trust for the duration of his term as MINISTER FOR SCIENCE AND INNOVATION, a tenure marked by doubling the science budget and focusing on the underrepresentation of women in science. He received the Andrew Carnegie Medal of Philanthropy in 2003 for his generous giving to causes like mental health and African aid.
122 Masayoshi Son, 47, $4.3bn, Japan, Tokyo (Japan) Industry: Software Marital Status: married , 2 children University of California Berkeley, Bachelor of Arts / Science Two conspicuous purchases Softbank made last year: $3.2 billion Japan Telecom from Ripplewood and a $190 million baseball team. While those flashy topics made newspaper headlines, the company continues to suffer from losses: $1 billion last year, largely due to customer-acquisition costs for their revolutionary ADSL/IP phone service. Japanese government recently rejected Son’s request to obtain a 800MHZ wave band for his mobile phone business.
122 William Wrigley Jr., 41, $4.3bn, USA, Lake Forest, Ill. (USA) Industry: Food Marital Status: married , 3 children Duke University, Bachelor of Arts / Science Great-grandfather peddled baking powder, used chewing gum as incentive. Found gum more popular. Now the world’s number one chewing gum manufacturer. Fourth-generation Wrigley hungry for acquisitions: bought Spanish confections producer Joyco Group for $260 million.
132 John Abele, 68, $4.2bn, USA, Boston, Mass. (USA) Industry: Health Care Marital Status: married , 3 children Amherst College, Bachelor of Arts / Science Scientist met businessman Peter Nicholas at kids’ soccer game, cofounded biotech firm Boston Scientific in 1979. Maintained healthy business making medical devices for minimally invasive surgery; received big booster shot last year after FDA approved Taxus, drug-coated stent for clogged arteries. Today Boston Scientific dominates the stent market, but lately under pressure amid patent infringement lawsuit from rival Johnson & Johnson, FDA recall of malfunctioning stents.
132 Cheng Yu-tung, 79, $4.2bn, Hong Kong, Hong Kong Industry: Real Estate Marital Status: married , 2 children Heads New World Development, one of Hong Kong’s leading conglomerates, with $14.3 billion in assets. Despite a 22% increase in revenues to $3.3 billion, group reported another loss of $125 million last year.
Meanwhile, Cheng’s private holding Chow Tai Fook Enterprises, whose holdings include a $50 million stake in China Life Insurance and jewelry, appears to be doing well.
132 George Kaiser, 62, $4.2bn, USA, Tulsa, Okla. (USA) Industry: Oil/Gas Marital Status: widowed , 3 children Harvard University, Bachelor of Arts / Science Harvard University, Master of Business Administration Took over family’s Kaiser-Francis Oil in 1969, built empire into energy investments, banking, real estate. Prescient bets on rising oil and gas prices paying off: “We saw an imbalance in supply and demand that in the short term can only be rectified through pricing.” Longer term, placing bets on liquefied natural gas. Investing in “energy bridge” technology: unloads liquefied gas from tankers via submerged buoys, pipes ashore via undersea pipelines.
132 Andronico Luksic & family, 78, $4.2bn, Chile, Antofagasta (Chile) Industry: Mining/Lumber Marital Status: married , 5 children University of Chile, Drop Out Chile’s wealthiest man started with a single Ford dealership in 1950. Gradually acquired mining concerns to form copper giant Antofagasta. Ceded control to son Jean Paul last year, though he remains chairman. Tapped his Croatian roots in 2000 by purchasing Plava Laguna resort chain on the Adriatic.
136 Jeffrey Bezos, 41, $4.1bn, USA, Seattle, Wash. (USA) Industry: Technology Marital Status: married , 3 children Princeton University, Bachelor of Arts / Science Raised in Texas and Florida, computer science degree from Princeton. Worked back-office job at hedge fund operator; quit to sell books over the Internet from his Seattle garage. Took Amazon.com public in 1997. Survived the dot-com bust by offering discount pricing and free shipping, expanding business overseas. Amazon now the world’s biggest virtual mall: $6.9 billion (sales) in books, cookware, music, clothes. Now he wants to go from cyberspace to outer space: founded Blue Origin to develop technology for commercial space travel.
136 Lorenzo Mendoza & family, 39, $4.1bn, Venezuela, Caracas (Venezuela) Industry: Beverages Marital Status: married , 4 children Fordham University, Bachelor of Arts / Science Massachusetts Institute of Technology, Master of Business Administration Oversees $1.8 billion (sales) Empresas Polar, one of Venezuela’s largest private companies. Founded by his grandfather as a beer company in 1941, it is still well-known for its Polar Beer, the world’s tenth-bestselling brew. Also makes everything from flour and condiments to tuna fish and wine. With his family supports one of Venezuela’s largest charities, Fundacisn Polar.
138 Charles Koch, 68, $4.0bn, USA, Wichita, Kan. (USA) Industry: Oil/Gas Marital Status: married , 2 children Massachusetts Institute of Technology, Bachelor of Arts / Science Massachusetts Institute of Technology, Doctorate Son of Fred C. Koch, MIT grad who invented method of turning heavy oil into gasoline. Took technology to Soviet Union, became disillusioned with Stalin, returned to the U.S., joined John Birch Society. Sons Frederick, Charles, David and William inherited Koch Industries after father’s death. Charles became chairman, expanded into chemicals, pipelines, asphalt, commodities trading. Fraternal rift after Charles and David bought out William and Fred in 1983 for $1.1 billion; settled 2001. On the move: more than $7 billion in recent acquisitions, including DuPont’s synthetic-fiber business, pulp and paper business from Georgia-Pacific. Charles a founder of conservative think tank Cato Institute.
138 David Koch, 63, $4.0bn, USA, Wichita, Kan. (USA) Industry: Oil/Gas Marital Status: married , 2 children Massachusetts Institute of Technology, Bachelor of Arts / Science Massachusetts Institute of Technology, Master of Science Son of Fred C. Koch, MIT grad who invented method of turning heavy oil into gasoline. Took technology to Soviet Union, became disillusioned with Stalin, returned to the U.S., joined John Birch Society. Sons Frederick, Charles, David and William inherited Koch Industries after father’s death. Charles became chairman, expanded into chemicals, pipelines, asphalt, commodities trading. Fraternal rift after Charles and David bought out William and Fred in 1983 for $1.1 billion; settled 2001. On the move: more than $7 billion in recent acquisitions, including DuPont’s synthetic-fiber business, pulp and paper business from Georgia-Pacific. Charles a founder of conservative think tank Cato Institute.
138 Ananda Krishnan, 66, $4.0bn, Malaysia, Kuala Lumpur (Malaysia) Industry: Communications Marital Status: married , 3 children Melbourne University, Bachelor of Arts / Science Harvard University, Master of Business Administration The fortunes of this Harvard Business School graduate are soaring: His Malaysian-based satellite TV service provider orchestrated a successful initial public offering in October 2003, adding another $1 billion to his net worth. His mobile phone service provider Maxis Communications continues to perform well, much to the delight of investors. Also controls racetrack betting and lottery systems in Malaysia via Tanjong Public Ltd.
138 Kwek Leng Beng & family, 64, $4.0bn, Singapore, Singapore Industry: Real Estate Marital Status: married , 2 children University of London England, LLB Making headlines in his native Singapore with some high-profile projects, such as a “six-star” St. Regis hotel project costing a reported $550 million and the Sail@Marina, the tallest residential development in Singapore. He also recently treated himself to a new top-of-the line Mercedes Maybach to add to his stable of sports cars that includes a Ferrari. It’s quite a step up from the $90-a-month salary he got paid when first starting at his family’s Hong Leong conglomerate at age 17. Recently quipped to a local newspaper of his FORBES rankings: “I never know how they can estimate these things. I don’t even know how much I’m worth.”
138 James Sorenson, 83, $4.0bn, USA, Salt Lake City, Utah (USA) Industry: Health Care Marital Status: married , 8 children High School, Diploma Soft-spoken entrepreneur grew up dirt-poor in Yuba City, Calif., father dug sewer trenches. Started as salesman for Upjohn. Tinkered with, eventually patented medical devices: plastic catheter, disposable surgical mask. Sold Sorenson Research medical business to Abbott Labs 1980; stake now worth $2.4 billion. “I’ve made a life out of putting a business aspect to my innovative mind.” Also real estate: 520,000 acres, including undeveloped mountain across from posh Park City, Utah ski resort; cattle ranch in central Utah serves as wind farm. Dabbles in video compression, genomics.
143 Abdul Aziz Al Ghurair & family, 51, $3.9bn, United Arab Emirates, Dubai (UAE) Industry: Finance Marital Status: married , 5 children California State Polytechnical University California-educated Al Ghurair runs Mashreqbank, traded on Dubai exchange; his family’s stake increased to almost $3 billion thanks to surge in Middle Eastern stock markets. Borrowing a page from Jerry Lewis, funded a telethon on Dubai television in September which aimed to raise enough funds to send 5 million Iraqi children back to school. His soft-spoken brother Essa, college-educated in San Diego, operates the secondlargest flour-milling company in the Mideast; the food division chief also backs a group that monitors the coral around the coast of the UAE and studies the turtle populations that inhabit the local waters. Uncle Saif’s megamalls make him almost a billionaire in his own right. Grandparents made a bundle during pearl-diving heyday, later diversified into banking, food production and real estate.
144 Lester Crown & family, 79, $3.8bn, USA, Wilmette, Ill. (USA) Industry: Investments Marital Status: married , 7 children Northwestern University, Bachelor of Arts / Science Harvard University, Master of Business Administration Son of Chicago financier Henry Crown (d. 1990), who created Material Service with 2 brothers in 1919, merged with General Dynamics 1959. Still holds big stake in GD, stock in Maytag, Hilton Hotels, Alltel. Dedicates time to solving global problems: chairs the Chicago Foreign Relations Council, sits on board of trustees of Aspen Institute.
144 John Menard Jr., 65, $3.8bn, USA, Eau Claire, Wis. (USA) Industry: Retailing Marital Status: divorced , 6 children University of Wisconsin Madison, Bachelor of Arts / Science Sole owner of home improvement chain with more than 170 stores, taking in $5 billion a year, constantly fighting Lowe’s and Home Depot for market share. Also counts IRS among principal foes: taxman claims CEO Menard’s profit-based bonuses are really nondeductible dividends. Menard fighting all the way. Press-shy hardware man also famous for micromanagement style, passion for auto racing.
144 Thomas Schmidheiny, 59, $3.8bn, Switzerland, Balgach (Switzerland) Industry: Engineering/Construction Marital Status: married , 4 children Zurich Polytechnic-ETHZ, Bachelor of Arts / Science Tufts University, Doctorate Fourth generation of a Swiss-German industrial fortune. Holds 23.6% stake in cementmaker Holcim and has a seat on the board. Holcim is aggressively expanding, adding to its holdings in Mexico, the U.K. and India. Also manages his personal wine holdings, including the Cuvaison and Chapel Hill labels and the revamped Weingut Schmidheiny, a vineyard in Balgach, Switzerland, where he was born.
144 Andreas Strüngmann, 55, $3.8bn, Germany, Tegernsee (Germany) Industry: Pharmaceuticals Marital Status: married , 2 children Bachelor of Arts / Science Medical Doctor With twin brother Thomas, founded generic drug maker Hexal AG in 1986. Together they built it into Germany’s second-largest generic drug producer, with $1.6 billion sales last year. In February the twins sold Hexal and their 67.7% of U.S. Eon Labs to Novartis for $7.5 billion. No plans yet to retire: accepted an executive post with Sandoz, a generic division of Novartis, and will sit on Sandoz’s executive committee.
144 Thomas Strüngmann, 55, $3.8bn, Germany, Tegernsee (Germany) Industry: Pharmaceuticals Marital Status: married Bachelor of Arts / Science With twin brother Andreas, founded generic drug maker Hexal AG in 1986. Together they built it into Germany’s second-largest generic drug producer, with $1.6 billion sales last year. In February the twins sold Hexal and their 67.7% of U.S. Eon Labs to Novartis for $7.5 billion. No plans yet to retire: like his brother, has accepted an executive post with Sandoz, a generic division of Novartis, and will sit on Sandoz’s executive committee.
149 Kumar Birla, 37, $3.7bn, India, Mumbai (India) Industry: Diversified Marital Status: married , 2 children University of Bombay, Bachelor of Arts / Science London Business School, Master of Business Administration Runs $7.5 billion (sales) commodities conglomerate Aditya Birla Group, India’s largest producer of copper and aluminium. Group derives 30% of its revenues overseas—copper mining in Australia, pulp mill in Canada, and carbon black factory in China. Plans to invest $4.6 billion over next four years in new infrastructure. Was conferred honorary doctorate by the Banaras Hindu University. Works out regularly and spends Sundays with wife and two children.
149 Yoshiaki Tsutsumi, 70, $3.7bn, Japan, Tokyo (Japan) Industry: Real Estate Marital Status: married Waseda University, Bachelor of Arts / Science Tsutsumi was arrested in early March on suspicion of falsifying financial statements and insider trading. Kokudo reportedly conducted massive sales of Seibu Railway shares in as short as ten days, just in time for the scandal disclosure last October. The charismatic business leader Tsutsumi was widely known as Forbes world’s richest man in 1987. He was the former chairman to Seibu Railway in Japan and had controlled most of the Seibu Group and Prince Hotels.
151 Jeronimo Arango, 79, $3.6bn, Mexico, Mexico Industry: Retailing Marital Status: NA College dropout who earned billions by charming Sam Walton into expanding south of the border. His Cifra retail chain partnered with Wal-Mart in the early Nineties and was later bought out and renamed Wal-Mex. (Walmart now holds a 64% stake in Wal-Mex.) Spanish-born Arango, who briefly sat on the Wal-Mart board in the late Nineties, is no longer active in either company.
151 Bernard Ecclestone & family, 74, $3.6bn, UK, London (UK) Industry: Gambling /Leisure Marital Status: married , 2 children University of Greenwich Owns 25% of Formula One. The banks that own the other 75% took Bernie to court last year to wrest more voting control away from him, but eventually admitted that Ecclestone knows how to run the company better than anyone. Ferrari has agreed to stay with Formula One until 2012, but the pressure of a renegade racing league being set up by restless manufacturers has not waned.
151 Stanley Ho, 83, $3.6bn, Hong Kong, Hong Kong Industry: Gambling /Leisure Marital Status: married , 17 children University of Hong Kong, Drop Out The money keeps flowing for Stanley Ho, whose gaming operations include casinos, greyhound racing, lotteries and horse betting in Macau. Increased competition from American casino moguls Sheldon Adelson and Steve Wynn not a big deal yet: Ho’s Sociedade de Jogos de Macau still controls 15 of the 17 casinos in the exotic Chinese playland; posted $3.5 billion in casino revenues in 2003. His Lisboa casino is the the world’s highest grossing casino. Even if the Americans succeed in Macau, Stanley won’t necessarily lose out: He operates ferry and helicopter services that transport eager gamers to Macau. The 83-year-old mogul has 17 children.
151 Frank Lowy & family, 74, $3.6bn, Australia, Sydney (Australia) Industry: Real Estate Marital Status: married , 3 children (none) The former deli-owner turned shopping mall Midas oversees a $40 billion (assets under management) portfolio of 126 centers on three continents. In July restructured to better position for growth; the three Westfield entities—Westfield Holdings, Westfield Trust and Westfield America Trust—merged to form Westfield Group, an internally-managed real estate group that is 11%-owned by Lowy & family. In December 2003 he extricated himself from the nettlesome insurance and redevelopment battles surrounding the World Trade Center by selling his 99-year lease on the WTC’s subterranean shopping plaza to the Port Authority of New York & New Jersey for $140 million. (His Westfield Holdings lost an employee at the World Trade Center on Sept. 11.) At the behest of the Aussie government is helping to revive the country’s languishing soccer league.
151 Victor Rashnikov, 56, $3.6bn, Russia, Magnitogorsk (Russia) Industry: Mining/Lumber Marital Status: married , 2 children Director and owner of Magnitogorsk Iron & Steel Works, started there in 1967 and worked his way up. In 1998 fended off takeover attempts from associates of fellow steel magnate Iskander Makhmudov. Unlike the directors of other steel mills, Rashnikov has refrained from buying coalfields or foreign factories. Instead he accumulated cash and used it to buy out the government’s 23.8% stake in December 2004. Also managed to persuade the shareholders of Mechel steel group (run by fellow billionaires Igor Zyuzin and Vladimir Iorikh) to sell him their 15.4% stake in “Magnitka,” likely making him the controlling stakeholder.
156 Jorgen Clausen & family, 56, $3.5bn, Denmark, Nordborg (Denmark) Industry: Manufacturing Marital Status: married , 2 children Bachelor of Arts / Science University of Wisconsin Madison, Master of Business Administration Low-key, second-generation chief executive of Danfoss, the $2.8 billion (sales) family heating and refrigeration company. Trying to become the “CEO of a truly global company” by expanding in China and North America. Still, sales were only up 5% last year and he put the brakes on an acquisition splurge that helped goose numbers in previous years. In May he’ll open Danfoss Universe, a theme park built over the former site of his father’s backyard workshop, where the company was founded after World War II. Flies himself to meetings and vacations, especially when he goes big game hunting. Mixed politics and profits last year when he pushed his native country of Denmark to earmark more money for child care. Politicians even evoked his name and the issue during debates.
156 Willi & Isolde Liebherr & family, age N/A, $3.5bn, Switzerland, Bulle (Switzerland) Industry: Engineering/Construction Marital Status: NA Brother, Willi, and sister, Isolde, have run the diversified family business since their father died in 1993. Liebherr’s core construction crane unit continues to expand globally with forays into Eastern Europe and China this year. Growing business supplying large antifriction bearings and drive systems to wind power companies.
156 Peter Nicholas, 63, $3.5bn, USA, Boston, Mass. (USA) Industry: Health Care Marital Status: married , 3 children Duke University, Bachelor of Arts / Science University of Pennsylvania Wharton School, Master of Science Businessman met scientist John Abele at kids’ soccer game, cofounded biotech firm Boston Scientific in 1979. Maintained healthy business making medical devices for minimally invasive surgery; received big
booster shot last year after FDA approved Taxus, drug-coated stent for clogged arteries. Today Boston Scientific dominates the stent market, but lately under pressure amid patent infringement lawsuit from rival Johnson & Johnson, FDA recall of malfunctioning stents.
156 Julio Mario Santo Domingo, 81, $3.5bn, Colombia, Bogota (Colombia) Industry: Beverages Marital Status: married , 3 children University of Virginia Jet-setting Colombian billionaire is shopping for a buyer for his Bavaria brewery, Latin America’s secondlargest. Also controls interests in media, oil and staffing outfits. Last year sold off Avianca Airlines, a perennial moneyloser. (In 1989 a terrorist reportedly blew up one of the airline’s flights after buying a ticket under Santo Domingo’s name.) Keeps homes in New York, Paris and Baru, his private island. Once served as Colombia’s ambassador to China.
160 David & Frederick Barclay, age N/A, $3.4bn, UK, Island of Brecquou (UK) Industry: Retailing Marital Status: NA Reclusive twins no more, thanks to their bid for some of the media assets of Conrad Black’s troubled Hollinger International. Despite a long, drawn out trial, at which Frederick testified, brothers successfully acquired the Telegraph Group for $1.2 billion. In past three years have also acquired U.K. retailer Littlewoods and mail-order operations of the GUS group (a major shareholder of Burberry). They manage these businesses along with their extensive real estate portfolio from the island tax haven of Jersey.
160 Otto Beisheim, 81, $3.4bn, Germany, Zoug (Switzerland) Industry: Retailing Marital Status: widowed Founded Metro Cash & Carry in 1964, which eventually developed into Metro AG, now the world’s fifth-largest retailer. Still owns almost 19% of the group. Now retired, runs an Internet and technology company, Beisheim Holding Schweiz AG, and has built a 172,000-square-foot luxury development complete with hotels, apartments, office space, restaurants and shops near the Potsdamer Platz in central Berlin. The complex is likely to become embroiled in war restitution claim as a Jewish family has alleged that the land on which it stands was illegally sold to Beisheim. An avid sports fan (golf, tennis), has three foundations that fund athletic programs.
160 John Fredriksen, 60, $3.4bn, Norway, Oslo (Norway) Industry: Shipping/Trucking/Transport Marital Status: married , 2 children Son of a Norwegian welder turned a ship-brokering job as a teenager into control of the world’s largest fleet of oil tankers, through flagship Frontline Ltd. Benefiting from surging demand from China and India. Made big investment in liquefied natural gas tankers, betting that LNG would become the next crude oil; wager has yet to pay off. In the meantime he is awash in cash from spinoffs of Frontline subsidiaries and investments in overseas shipping companies like General Maritime. Collects classic Norwegian art. Reportedly turned down an offer of $190 million from fellow billionaire Roman Abramovich for his London home last year.
160 Preston Tisch, 78, $3.4bn, USA, New York, N.Y. (USA) Industry: Investments Marital Status: married , 3 children University of Michigan, Bachelor of Arts / Science
Surviving brother of famed investor Laurence Tisch (d. 2003). Brothers got start with New Jersey hotel in 1946; later owned the Drake, Belmont Plaza, Regency. Took control of Loews Theatres 1959, diversified interests now include insurance (CNA Financial), watches (Bulova), oil drilling (Diamond Offshore Drilling), tobacco (Lorillard). Larry long known for bearish pessimism; Preston’s son Jonathan now at helm, sees brighter future. Preston co-owner New York Giants pro football franchise. Family philanthropy: donations to NYU alone exceed $50 million.
164 Robert Bass, 57, $3.3bn, USA, Fort Worth, Texas (USA) Industry: Oil/Gas Marital Status: married , 2 children Yale University, Bachelor of Arts / Science Stanford University, Master of Business Administration Third son of Texas oilman Perry Bass. Graduated from Yale, Stanford Business School. Father handed family business to eldest son, Sid; Robert, feeling overshadowed, broke out on his own 1983; moved one floor down in Bass-financed Fort Worth office tower. Arguably the better investor: diversified holdings included Wometco, Continental Broadcasting, Lone Star Technologies, San Juan Basin Royalty Trust. Sold Plaza Hotel to Donald Trump. His Oak Hill Capital Partners specializes in leveraged buyouts. Recent deal: buying Duane Reade drugstore for $700 million.
164 Paul Desmarais, 78, $3.3bn, Canada, Montreal (Canada) Industry: Diversified Marital Status: married , 4 children Bachelor of Arts / Science Bought his father’s one-route Ontario bus company for a dollar in 1951; eventually built into Power Corp., a $13 billion (sales) financial services and communications giant. Power Corp. consortium bought an indirect 25% stake in media giant Bertelsmann in early 2001. Also owns Investors Group, Canada’s largest mutual fund group, and has holdings in specialty mineral companies and waste services. The stock, which split in 2004, is up 25% in the past year. While sons Andre and Paul Jr. run the company, Paul Sr. collects Canadian art and hunts birds at his private estate in Quebec.
164 Charles Johnson, 72, $3.3bn, USA, San Mateo, Calif. (USA) Industry: Finance Marital Status: married , 6 children Yale University, Bachelor of Arts / Science Father, Rupert Sr., founded early mutual fund shop Franklin Distributors 1947. Half-brothers took over 1969, expanded Franklin Resources by adding Templeton Funds 1992, Fiduciary Trust 2001. Also bought Heine Securities from value investor Michael Price for $610 million in 1996. Today firm manages more than $350 billion. FKR named after Ben Franklin for his common sense, frugality. Yale grad and former Army lieutenant serves as chairman; son Charles’ son, Gregory, assists as co-CEO.
164 Sunil Mittal, 47, $3.3bn, India, Delhi (India) Industry: Technology Marital Status: married , 3 children Punjab University, Bachelor of Arts / Science Self-made telecom entrepreneur. Runs India’s largest GSM-based cellular service provider, Bharti Tele-Ventures, whose stock is up 24% since January. Added 4 million subscribers in the past year, taking total to more than 10 million. Started venture to export fruits and vegetables with the Rothschild family. Spending $4.5 million to provide mobile services in tsunami-hit Andaman & Nicobar islands.
164 Robert Rowling, 51, $3.3bn, USA, Dallas, Texas (USA) Industry: Service Marital Status: married , 2 children University of Texas Austin, Bachelor of Arts / Science Southern Methodist University, Doctor of Jurisprudence Corporate lawyer joined dad’s Tana Oil & Gas in 1980; sold production units to Texaco in 1989, exploration division to Unocal. Bought luxury hospitality chain Omni Hotels 1996; now 40 hotels throughout North
America. New Tana incarnation now producing gas in the Gulf. Branching out: last year bought legendary Gold’s Gym for $158 million and grabbed a stake in fast-growing Mexican dollar-store chain Waldo’s.
164 Rainer & Michael Schmidt-Ruthenbeck, age N/A, $3.3bn, Germany, Duisburg (Germany) Industry: Retailing Marital Status: NA Secretive brothers own 19% of retailer Metro. Also control the Travel Charm chain of luxury hotels and spas located along Germany’s Baltic coast. In operation since 2000, the chain plans to open its first Austrian hotel later this year.
170 Saleh Bin Abdul Aziz Al Rajhi, 93, $3.2bn, Saudi Arabia, Jeddah (Saudia Arabia) Industry: Investments Marital Status: married , 60 children Eldest member of the powerful Al Rajhi clan, he boasts the second-largest shareholding in the family’s Al Rajhi Banking & Investment Corp. (second to brother Sulaiman). The family made its first fortune as money changers, wisely investing overseas, during the oil boom of the late Seventies. Reportedly has 60 children.
170 Richard Branson, 54, $3.2bn, UK, London (UK) Industry: Shipping/Trucking/Transport Marital Status: married , 2 children High School, Drop Out Though his reality TV show was trumped by the Apprentice master, Branson cashed in on several ventures. Virgin Mobile U.K. went public last year and his Australian airline Virgin Blue went public in December 2003; Virgin Mobile U.S. will likely follow later this year. He’ll need the extra bucks to fund his megavisions: his Airbus’ A380 plane, scheduled for takeoff in the spring of 2008, will provide such amenities as a gym, casino and salon, while his Virgin Galactic will reportedly offer customers trips to outer space in as soon as three years. In the near term trying to fight off hostile takeover bid for Virgin Blue.
170 William Cook, 73, $3.2bn, USA, Bloomington, Ind. (USA) Industry: Health Care Marital Status: married , 1 child Northwestern University, Bachelor of Arts / Science Army surgical technician became hypodermic-needle salesman, started own medical device company in 1963 from Bloomington apartment. Made wire guides for angioplasty, catheters, stents. Today Cook Group: manufacturer of 30,000 medical devices, estimated $600 million sales. Planned to sell it all to rival Guidant for $3 billion, but deal derailed after disappointing clinical tests of innovative stent. Cook Group moving on: converted old Bloomington RCA television factory into biotech lab. Early-bird worker still arrives every day at 5 a.m., but son, Carl, being groomed to take over company.
170 Aloysio de Andrade Faria, 84, $3.2bn, Brazil, Sao Paulo (Brazil) Industry: Finance Marital Status: married , 5 children University of Minas Gerais, Bachelor of Arts / Science Northwestern University, Master of Science Sold most of Banco Real to ABN Amro in 1998 for $2.1 billion. He named the unsold portion Banco Alfa, which has since grown to Brazil’s 16th-largest bank, with $2.7 billion in assets. Also owns the leading home improvement chain in Brazil, Casa e Construcao, in addition to a large palm oil producer, hotels, radio stations and 12,000 acres of farmland.
170 Rolf Gerling, 50, $3.2bn, Germany, Zurich (Germany) Industry: Insurance Marital Status: married , 1 child University of Zurich, Bachelor of Arts / Science After a few rocky years Gerling Konzern, one of the world’s largest reinsurers, returned to profitability in 2003 just in time for its 100th birthday celebration last May. Small thanks to owner Rolf Gerling, who despite his 94% stake and his training as an economist, pays little attention to the business, preferring to devote all his
time to his Gerling Academy for Risk Research, a think tank that studies the industrial world’s impact on the environment.
170 James Goodnight, 62, $3.2bn, USA, Cary, N.C. (USA) Industry: Technology Marital Status: married , 3 children North Carolina State University, Bachelor of Arts / Science North Carolina State University, Doctorate With partner John Sall owners of SAS Institute, world’s largest privately held software company. Designs advanced statistical-modeling software for pharmaceutical giants such as Merck and Eli Lilly, now trying to attract banks and financial institutions with data-crunching and anti-money-laundering software. Techie employees kept happy with lucrative perks like child-care centers, Olympic-size swimming pool, 35-hour workweek, free soda and candy.
170 Terry Gou, 54, $3.2bn, Taiwan, Taipei (Taiwan) Industry: Technology Marital Status: married , 2 children Bachelor of Arts / Science Head of Taiwan’s Hon Hai Precision, which manufactures personal computers and PC servers. Spun off its handsetmaking unit Foxconn International Holdings in an offering in February. Foxconn, which now has a market capitalization of approximately $3 billion, plans to spend at least 60% of the proceeds building three new plants in China and expanding others in Mexico and Hungary.
170 Maurice Greenberg, 79, $3.2bn, USA, New York, N.Y. (USA) Industry: Health Care Marital Status: married , 4 children University of Miami, Bachelor of Arts / Science New York Law School, Doctor of Jurisprudence Testy chief of insurance giant AIG enjoying healthy profits, buoyant stock price. Also generous pay package. WWII vet now leading fight against trial lawyers, corporate regulators: “A bubble economy translated into a bubble on awards.” Raised on upstate New York farm, “Hank” now well into 4th decade at helm, but succession plans still a mystery.
170 Klaus-Michael Kühne, 67, $3.2bn, Germany, Schindellegi (Germany) Industry: Shipping/Trucking/Transport Marital Status: married Grandson of August Kühne, one of the founders of publicly traded transport and logistics group Kühne & Nagel. Has run the company since 1965; holds 56% of the shares. His extravagant house in landlocked Switzerland is said to look like the main command deck of an ocean liner.
170 Leonard Lauder, 72, $3.2bn, USA, New York, N.Y. (USA) Industry: Apparel Marital Status: married , 2 children University of Pennsylvania, Bachelor of Arts / Science With younger brother Ronald, Sons of cosmetics doyenne Estée Lauder, who died in April at age 97. Mother founded company with husband, Joseph, 1946, pushing face cream made by chemist uncle in kitchen; now controls nearly half the premium cosmetics market in U.S. Family sold 13 million shares of stock to meet large estate tax bill after matriarch’s death; Lauders still retain 46% stake in the company, majority of voting shares. Leonard: chairman of company since 1995. Son William, 44, took over CEO spot last July. Ronald: international investor with television properties in eastern Europe, Israel. Served as deputy assistant secretary of defense and ambassador to Austria under President Reagan. Eponymous foundation provides Jewish education throughout eastern and central Europe.
170 Gérard Louis-Dreyfus & family, 72, $3.2bn, France, New York, N.Y. (USA) Industry: Oil/Gas Marital Status: married , 3 children Duke University Duke University, Doctor of Jurisprudence From offices in New York and Paris, runs the family’s Louis-Dreyfus Group, a diversified commodities, energy, shipping, real estate, manufacturing and communications conglomerate. Energy division acquired a natural gas pipeline in West Texas from Exxon Mobil subsidiaries last April. Property group sold its 100,000 square foot office building Sutton Park in upstate New York to Diamond Properties in June. Also reorganized French telecom LDCom to unite its various activities under the Neuf Telecom brand. Educated in the U.S., with undergraduate and law degrees from Duke University, Louis-Dreyfus has spent a good portion of his life outside France. A very private man with a passion for poetry, Louis-Dreyfus is perhaps best known in the U.S. as father of actress Julia Louis-Dreyfus, who portrayed Elaine on Seinfeld.
170 Pallonji Mistry, 75, $3.2bn, India, Mumbai (India) Industry: Engineering/Construction Marital Status: married , 4 children Construction baron. Inherited from his father but built his own legacy by taking on construction contracts abroad starting with Oman, where he built the sultan’s palace. Now building Mumbai’s tallest buildings, two 60-story apartment towers. But his most valuable asset these days is his 18.4% stake in Tata Sons; its software arm Tata Consultancy Services listed last year and now has a market cap of approximately $15 billion.
170 Akira Mori, 67, $3.2bn, Japan, Tokyo (Japan) Industry: Real Estate Marital Status: married , 3 children Real estate mogul owns and operates 17.9 million square feet of floor space mainly in Tokyo’s choicest districts. Mori Trust posted a record high $1.2 billion in sales and $150 million in profits for last year (ended Mar. 31). That should give him confidence as he has announced plans to list Mori Trust on the Tokyo stock exchange. Akira’s ongoing sibling rivalry with older brother Minoru is often the subject of media ribbing. Press accounts refer to Mori as “a flinty businessman.”
170 Madeleine Schickedanz, 61, $3.2bn, Germany, Grisous (Switzerland) Industry: Retailing Marital Status: married , 4 children Daughter of Gustav and Grete Schickedanz, founders of catalog retailer Quelle Versand, which later merged with Karstadt to form one of Europe’s largest companies. Now holds 42% of the $20 billion (sales) KarstadtQuelle, which has been undergoing a massive restructuring to bolster its sagging performance. Lives in St. Moritz with third husband Leo Herl; supports an eponymous foundation dedicated to fighting childhood cancers.
170 Charles Schwab, 67, $3.2bn, USA, Atherton, Calif. (USA) Industry: Service Marital Status: married , 5 children Stanford University, Bachelor of Arts / Science Stanford University, Master of Business Administration Opened stock market to the masses with eponymous discount brokerage founded in 1971. Tapped into 1990s online trading boom, only to see much of business dry up with the market. Handed over CEO duties in 2003, took them back last year after company posted sagging profits; stock rallied 7% day after announcement. Dyslexic, established Charles and Helen Schwab Foundation to help children with learning disabilities.
170 Jack Taylor, 82, $3.2bn, USA, St. Louis, Mo. (USA) Industry: Service Marital Status: married , 2 children Washington University, Drop Out Left Washington University and landed in Navy, became fighter pilot on U.S.S. Enterprise during World War II. Sold cars after war, became regional Cadillac distributor. Took 50% pay cut to start own car-leasing business with boss; offered rentals as temporary replacements for stolen, wrecked cars. Business boomed in 1970s after courts made insurance companies pay for replacement rentals. Emphasizes training, motivation of employees. Son Andrew began working for father “as soon as I could drive”; now president of car rental giant.
170 Klaus Tschira, 64, $3.2bn, Germany, Heidelberg (Germany) Industry: Software Marital Status: married , 2 children University of Karlsruhe, Master of Science A former physicist, cofounded German software firm SAP with four former IBM colleagues. In 1995 set aside 7% of his SAP shares (now worth more than $3 billion) for a foundation now housed in the Villa Bosch, former home of German Nobel Prize-winning chemist, Carl Bosch. Amateur astronomer, has a small planet between Mars and Jupiter named after him.
170 Tadashi Yanai, 56, $3.2bn, Japan, Yamaguchi (Japan) Industry: Retailing Marital Status: married , 2 children Waseda University, Bachelor of Arts / Science Chief of Fast Retailing, which owns the Uniqlo casual clothing chain, Japan’s version of the Gap. For fiscal 2004, ended August 31, profits jumped 54% to $611 million with a women’s clothing line luring back customers. Last year Uniqlo opened 78 new outlets, and its U.K. store posted its first profit since opening in 2001. The company plans to open its first store in South Korea this fall. That business will be run in conjunction with Lotte Shopping, a subsidiary of Korean billionaire Shin Kyuk-Ho.
188 David Filo, 38, $3.1bn, USA, Mountain View, Calif. (USA) Industry: Technology Marital Status: single Tulane University, Bachelor of Arts / Science Stanford University, Drop Out With partner Jerry Yang, erstwhile Internet darlings must feel a bit nostalgic, watching all the hoopla over Google’s young Turks. Thirtysomethings met as grad students at Stanford in 1989, developed Internet search portal. Became Internet billionaires taking Yahoo public in 1996. Survivor of the dot-com meltdown now profitable, but may well regret making a $10 million investment in rival Google 5 years ago, despite the spectacular 5,000% return. Yahoo stopped using Google technology to run searches in February 2004, now feverishly developing competing engine of its own. Partners retain Chief Yahoo title, but this business now run by former Warner Bros. chief Terry Semel.
188 Heidi Horten, 64, $3.1bn, Austria, Vienna (Austria) Industry: Retailing Marital Status: widowed Hers is a modern-day fairy tale: Heidi Jelinek, then about 19, met Helmut Horten, founder of the eponymous German department store chain, in 1959 in a hotel bar. Despite a 30-year age difference they married seven years later. When he died in 1987, he left her a $1 billion fortune. The merry widow now divides her time between a penthouse in Vienna, a home in Lyford Cay and houses in the Tessin and by the Wörthersee in Austria. Owns one of the world’s largest yachts, the 315-foot Carinthia VII.
188 Sami & Yuli Ofer, age N/A, $3.1bn, Israel, Tel Aviv (Israel) Industry: Diversified Marital Status: NA The ultraprivate Israeli brothers boast a vast portfolio of shipping and real estate assets. (Monaco-based Sammy handles the shipping, while the real estate is tended to by Yuli from Tel Aviv.) Last year media criticized Sammy’s sale of 12 container ships to Zim Navigation, a company he controls, for $820 million. In partnership with Chicago’s Pritzker family, the Ofer brothers also control a $1.5 billion stake in cruise giant Royal Caribbean. As part of their planning for the next generation, the brothers announced last year that they would formally split their holdings, and would ultimately be succeeded by their children. Sammy, an avid art collector, boasts one of the world’s largest collections of original Marc Chagall paintings.
188 Nina Wang, age N/A, $3.1bn, Hong Kong, Hong Kong Industry: Real Estate Marital Status: widowed Widow of Teddy Wang is mired in litigation over control of Chinachem Group, the company she founded with her husband and headed after his kidnapping in 1990. Husband was never heard from again and was declared dead in 1999. Elderly father-in-law says that a 1968 will makes him the sole beneficiary of son’s estate. Nina argues a later one makes her beneficiary. The Hong Kong courts have twice ruled in the father’s favor and declared Nina’s will a forgery. Last bail she made was for $7 million, largest in Hong Kong history. Her fate now rests on a final appeal to be decided this coming summer.
188 YC Wang, 88, $3.1bn, Taiwan, Taipei (Taiwan) Industry: Chemicals Marital Status: NA , 10 children Industrial tycoon, whose Formosa Plastics Group is Taiwan’s second-largest gasoline supplier, also has plans to set up power plants on the mainland. He remains a vocal defender of opening Taiwan to Mainland China even if it means locking horns with the island’s governing politicians. His attempt at producing a local car with General Motors foundered when they reportedly failed to agree on the car’s brand name. Made his original fortune in plastics.
188 Leslie Wexner, 69, $3.1bn, USA, Columbus, Ohio (USA) Industry: Apparel Marital Status: married , 4 children Ohio State University, Bachelor of Arts / Science Ohio State law school dropout borrowed $5,000 from aunt to set up first shop specializing in women’s sportswear in 1963. Took company public 1969. Expanded Limited Brands into 3,800 stores and 7 retail brands, including Victoria’s Secret, Express, Henri Bendel. Also Bath & Body Works, White Barn Candle Co. Established the Wexner Foundation in 1984 to support Jewish studies.
194 Richard DeVos, 79, $3.0bn, USA, Ada, Mich. (USA) Industry: Service Marital Status: married , 4 children With late partner Jay Van Andel, high school friends started out in 1950s selling nutritional supplements, turned Amway into direct-selling empire with more than 3 million people worldwide pushing personal- care and home products. Reorganized under Alticor banner; second generation now at the helm. Annual sales approach $5 billion, much of it from overseas operations. Families remain close, both major civic donors in Grand Rapids, Mich. DeVos owns pro basketball’s Orlando Magic, recently donated $1 million to hurricane relief.
194 Henry Fok, 81, $3.0bn, Hong Kong, Hong Kong Industry: Gambling /Leisure Marital Status: married Real estate developer who helped finance Stanley Ho’s bid for a gaming license in Macau. Today his stake in Ho’s Sociedade de Jogos de Macau has vaulted him into the billionaire ranks; despite competition from American moguls Sheldon Adelson and Steve Wynn, company still controls 15 of 17 casinos in the exotic Chinese playground. But Fok’s interests don’t lie in gaming. In 1993 he initiated an effort to create a 21stcentury city in southern China, turning the once-desolate island of Nansha into an up-and-coming industrial center between Guangzhou and Hong Kong.
194 Steven Jobs, 50, $3.0bn, USA, Palo Alto, Calif. (USA) Industry: Technology Marital Status: married , 4 children Reed College, Drop Out Gates is far richer, but Jobs is way cooler with the kids. For that he can thank two decades of innovative design and catchy marketing. And now iPod, portable music player (more than 3 million units sold since 2001), helped make Apple’s iTunes Music Store the dominant site for downloading music: over 125 million downloads, accounting for 70% of all (legal) Internet music sales. Result: Apple stock up more than 200% in the past year. Personal wealth lies elsewhere, in digital animation shop Pixar (Toy Story, Finding Nemo). The hot studio still hasn’t found a new home after severing its relationship with Disney last year, culminating a feud between Jobs and alpha-mouse Michael Eisner.
194 Ann Walton Kroenke, 55, $3.0bn, USA, Columbia, Mo. (USA) Industry: Retailing Marital Status: married , 2 children Lincoln University, Registered Nurse Ann inherited big Wal-Mart stake from father, James (Bud) Walton (d. 1995), who cofounded retail chain with brother Sam. Husband, E. Stanley Kroenke, a real estate developer, including shopping centers anchored by Wal-Mart stores. Also owns more than 1 million acres of ranch land. Sports nut Stan owns stake in pro football’s St. Louis Rams, basketball’s Denver Nuggets and hockey’s Colorado Avalanche.
194 George Lucas, 60, $3.0bn, USA, Marin County, Calif. (USA) Industry: Media/Entertainment Marital Status: divorced , 3 children University of Southern Calif, Bachelor of Arts / Science Star Wars mastermind putting finishing touches on the final installment of his 6-part space epic—Episode III: The Revenge of the Sith, set for release in May. Also runs special-effects shop Industrial Light & Magic (Harry Potter movies, Master and Commander). Possible future projects: sequels to Jurassic Park, Indiana Jones.
194 Sergio Mantegazza, 77, $3.0bn, Switzerland, Lugano (Switzerland) Industry: Gambling /Leisure Marital Status: married , 1 child His $3 billion (sales) tour outfit Globus & Cosmos was founded in 1928 by father, Antonio, with a single boat that ferried tourists around Lake Lugano. President Sergio has been with the company for 50 years. Loves expensive toys: has a helicopter and a yacht (Lady Marina) and a $600,000 Mercedes Maybach. Son Fabio is CEO of Monarch Travel, the family’s no-frills airline. Son Paolo, who was CEO of Globus’ American arm, Group Voyagers, committed suicide last year at age 34.
194 Miuccia Prada & family, 55, $3.0bn, Italy, Rome (Italy) Industry: Apparel Marital Status: married Doctorate Granddaughter of company founder Mario Prada runs the $1.7 billion (2003 sales) luxury-goods maker with husband, Patrizio Bertelli. She is lead designer; he is chief executive. Openly admits to combative professionalpersonal marriage. Struggles lie ahead: how to proceed with the Prada-owned Helmut Lang and Jil Sander brands now that both designers resigned amidst squabbles over creative and financial direction. Plans to go public have been postponed three times and are now on hold until, possibly, 2006. Today Prada boasts 210 stores worldwide, including 10 new ones in China. Holds a Ph.D. in political science and was, for a time, a mime artist, feminist and communist. For the past decade the couple has been hosting shows of internationally recognized contemporary artists through their foundation; it brought the Tribeca Film Festival to Milan in 2004.