Truemors
Once the richest person on the globe is now te bigest looser in the finencial meltdown he lost 16 billion pound .Share price and steel price is significantly coming lower and lower in chances of more loss is iminent.
Mumbai, Oct 06: Steel baron Lakshmi N. Mittal's fortune plummeted by and 16 billion pounds in just 120 days due to the recession-hit stock market. He heads a list of 10 super-rich losers, including Anil Agarwal (who lost and 2.9bn pounds), their total fall in fortune being and 23 billion pounds from their peaks.
With an estimated wealth of and 27.7 billion pounds according to the Times Rich List 2008, Mittal has seen his family's stake in ArcelorMittal fall from and 33.24 billion pounds on June 4 this year to and 16.63 billion pounds at the close of Friday's markets. Despite the big loss, he remains the wealthiest in Britain.
Other losers include Charles Dunstone and David Ross, co-founders of Carphone Warehouse. Dunstone's shareholding has fallen from and 1.1 billion pounds to and 497 mn pounds, while Ross has lost and 372 million pounds.
Lord Rothemere, chairman of the Daily Mail and General Trust, has been hit hard by the fall in advertising revenue, with the value of his shareholding falling from and 707 million pounds in May 2007 to and 275 million pounds
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