News Articles

Zhang Yin: http://www.moneyweek.com/file/20593/zhang-yin-the-worlds-richest-self-made-woman

"has just emerged not only as the richest entrepreneur in China, but also as the wealthiest self-made woman in the world. According to the Hurun Report rich list, Zhang, despite being almost unknown in the wider world, has suddenly arrived at the top of the list with a net worth of $3.4bn."

"It wasn’t easy. She “endured financial hardship, cheating business partners and intimidation from local mobsters”, says The Daily Telegraph."

Carlos Slim: http://www.azcentral.com/arizonarepublic/news/articles/0530carlosslim0530.html

"Now, at 67, Slim is the world's second-richest man and is closing quickly on Bill Gates, according to Forbes magazine's most recent rankings. Slim's business empire stretches from Mexico to the United States - it includes major stakes in companies such as CompUSA and Saks Fifth Avenue - yet most Americans have never heard of him."

"Slim accumulated his $53.1 billion fortune by collecting companies in much the same way he did baseball cards. He searches for businesses that are undervalued, infuses them with cash and uses the size of his holdings to overwhelm the competition. He now owns stakes in more than 220 businesses but says he has never forgotten the lessons of his youth."

"His wealth has caused some resentment in a country where 40 percent live in poverty and thousands emigrate each year to seek opportunity in the United States. Both the U.S. and Mexican governments complained recently that Mexico's economic growth is stunted because large conglomerates such as Slim's have too much control."

"The domination of large Mexican conglomerates such as Slim's chokes off growth of smaller companies, says Celso Garrido, an economist at Mexico City's Autonomous Metropolitan University who studies Mexico's business dynasties. "

"Slim's holdings, in business and beyond, are now so vast that he sometimes loses track of what he owns. "

Ratan Tata: http://www.iht.com/articles/2007/04/01/business/sxtata.php

"The firm is expanding in an effort to build a global brand and spread investment risks."

"The Tata group has spent almost $14 billion in the past two years to acquire companies overseas. Flagship company Tata Steel this month completed a $12 billion takeover of British steelmaker Corus Group, catapulting the company up world rankings to become the sixth-largest steelmaker, from 56th."

"The group's previous overseas acquisitions include Tata Steel's purchase of Singapore's Natsteelin August 2004 for 13 billion rupees, or $287 million, and Thailand's Millennium Steel for 18.2 billion rupees in December 2005.
Tata Tea bought the Tetley Group for $407 million in 2000 and followed it with a $677 million purchase of a 30 percent stake in U.S.-based Energy Brands, also known as Glaceau. The group's hotels unit, Indian Hotels, last year bought the Ritz-Carlton hotel in Boston for $170 million."