BusinessInsiders.com released their list of The Biggest Billionaire Losers of 2011. Ikea founder Ingvar Kamprad won the contest on a technicality. He saw his net worth drop from $23B to $6B. However, there’s no need to worry about Kamprad. He’s still okay.
Earlier this year, Swedish journalists revealed that a Liechtenstein-based foundation called Interogo, controlled Ikea. Kamprad, it should be noted, controls Interogo. By using the foundation based in “tax haven” Liechtenstein, Ikea has been able to avoid paying $billlions in taxes. It was reported that Interogo had cash reserves of close to $17B, money which theoretically, is not owned by Ikea.
Kamprad defended the use of the tax dodge. FT.com noted that
the 84-year-old Swede argued that “tax efficiency” was a ¬natural part of the company’s low-cost culture.
Number 2 on the list, Nobutada Saji might have a felt a bit less sanguine about his 2011 losses of $6.6 billion. He’s followed by Anil Ambani whose fortune dropped by $4.9 billion. Anil Ambani has been estranged from his billionaire brother Mukesh Ambani, but there was speculaton of a reconciliation when the Ambani “boys” both attended a family reunion last week.
Click here to see Businessinsider.com’s full list of biggest billionaire losers of 2011.
Bloomberg’s Matthew G. Miller has identified some additional high profile billionaire losers. He points to Oracle’s Larry Ellison whose 1.1 billion shares of Oracle declined by $6.6 billon. In one day, the value of Ellison’s shares fell by almost $3.8 billion. Miller reports that Canadian Paul Desmarais lost $2.9 billion on his shares of Power Financial Corp., while Bill Gates Microsoft shares declined by $3.2 billion.
Miller also cited a few billionaire winners including: William Lei (China). His online gambling, er gaming company NetEase, increased his wealth by $442 million. Leslie Wexner notched a gain of just over a half billion dollars, on his shares of Limitedbrands; and Intel’s Gordon Moore tacked on $600 million with the stock gains that his company posted in 2011.
As the LA Times notes – - “No, this is not a headline ripped from the Onion”. Facebook is not suing its Gazillionaire founder. The Mark Zuckerberg they’re going afer, is an Israeli who was formerly known as Rotem Guez.
The not-the-guy-who-owns-Facebook Zuckerberg had a pretty successful “Like Store”. If an advertiser wanted instant fans they could buy them from Guez’s “Like Store”. \\
Well Facebook didn’t like Guez’s “Like Store”, so they shut it down.
So Guez changed his name to Mark Zuckerberg, and then Facebook sued him. Meanwhile, Mark Zuckerberg. not-the-guy-who-owns-Facebook Zuckerberg, at least for now, has a Facebook page with 3,000 likes!
Click here to see the not-the-guy-who-owns-Facebook Zuckerberg’s Facebook page. (Hope the link still works.)
Back in June, The Wall Street Journal figured that Groupon Founder, Andrew Mason, was going to net $1.5 billion for his 7.7% share of the company’s Class A Stock. At that time The Journal figured that Groupon was worth $20 billion.
More recently, The Journal reported that Groupon’s value down to $11.4 billion, and pegged Mason’s wealth somewhere at only between $751-$844 million. (The Horror!)
Back in June, The Wall Street Journal figured that Groupon Founder, Andrew Mason, was going to net $1.5 billion for his 7.7% share of the company’s class a stock. At that time The Journal figured that Groupon was worth $20 billion.
More recently, The Journal Reported that Groupon’s value down to $11.4 billion, and pegged Mason’s wealth somewhere at only between $751-$844 million. (The Horror!)
Some might argue that the Journal’s $11.4 valuation of Groupon, is a little on the strong side. Sucharita Malpura, an analyst for Forrester Research, told The Christian Science Monitor that “Groupon is a disaster”. She said the company was a “shill that’s going to be exposed pretty soon.”
Nicolas Berggruen is just your typical 50 year old, handsome, homeless billionaire. He
doesn’t a car, a house or even a watch. He was never married and doesn’t claim to have fathered any children. He just travels around the world and stays in hotels. (Yawn.)
Forbes pegs his net worth at 2.2 billion, but Berggruen says it’s more.
He recently told the New York Times “I’m not optimistic in the short term,” Mr. Berggruen said. “I just think that if some businesses are going to survive it’s worth investing now as long as it’s a real business, and as long as you don’t have to sell the stock to make a mortgage payment or eat next week.”
He went on say that he liked interational companies that pay dividends, mentioning Nestlé and Anheuser-Busch InBev, in particular.