Indian steel tycoon Lakshmi Mittal, 58, the richest man in Europe and the 4th richest man in the world, can now be known as the world’s biggest loser after his net worth plummeted by a whopping $28 billion over the last four months due to the global financial crisis. Mittal, a London resident who paid a record $200 million for a Georgian mansion in Kensington Palace Gardens earlier this year, still has $17 billion left, the London Times reports. We don’t yet know how Mittal’s stunning loss - which equates to $240 million / day or nearly $10 million per hour - re-positions him on the world’s rich list as several other plutocrats have also suffered reversals, but it’s safe to say he’ll end up much further down unless the stock market recovers soon.
Hello... If you have a "billion" then your set for life and so are your children and there children so it really dont matter how much he lost as he still has enough to do whatever he wants. laterz malcolm
This is the problem in market economy, you can become billionaire overnight and poor in overnight. But this market economy is still the best among tried.
He does n't need to worry about these .. as 10% of Steel production in world comes from his company.. So as long as we need steel he will be there..
Yeah, I'm sure this guy has a billion tucked away in a bank somewhere, and another billion under his mattress. His networth going down that much does suck, but aside from bragging rights i'm pretty sure he'll survive.
What a big loss. But he still have $17 billion. Still a way lot more than my country richest man. Lol!!
They earn in billions and loss in billions so i don't think so that they need to worry about this at all DON.
It's because most of his money is invested in stocks. If the value get reduced so does his overall worth. Usually tycoon don't hold money in cold hard cash but in mostly in stocks, assests and bonds