Tina Ambani, Usha Mittal among top 10 billionaires’ wives

Tina Ambani and Usha Mittal are among the 10 billionaires’ wives who have impressive credentials of their own, according to a list prepared by the Forbes magazine.

Tina Ambani is married to world’s sixth wealthiest person, Anil Ambani, who is negotiating his firm Reliance Communications’ possible amalgamation with South African telecom major MTN. Usha Mittal is married to the world’s fourth richest person, steel tycoon Lakshmi Mittal.

But the ‘Wives of Billionaires’ list is not about trophy wives, the US magazine said in a report accompanying the list.

Tina Ambani was famous even before she married Anil Ambani. ”Former Bollywood actress made her name in the 1978 Indian blockbuster ‘Des Pardes’. She went on to star in 30 more films,” the Forbes noted, adding that the 53-year-old is a patron of contemporary Indian art and mother of two sons.

Usha, married to Laxmi Mittal when she was 21, has clearly earned his trust, the magazine said. Last year, his steel company ArcelorMittal passed a resolution that entrusted her with temporary responsibility of managing the world’s largest steel company if the managing board of directors is permanently absent or prevented from handling duties.

”She apparently worked in the steel business for 15 years, at one time reportedly running a plant in Indonesia,” the magazine said.

Others in the billionaires’ wives list include a novelist, a famous fashion designer, actresses and a doctoral student of biomedical informatics.

Oracle CEO Larry Ellison’s wife Melanie Craft is a novelist. Lucy Southworth, who is married to Google co-founder Larry Page, is studying biomedical informatics. Hollywood director Steven Spielberg’s wife Kate Capshaw is a former Ford model and now is seen on television.

Media baron Rupert Murdoch’s spouse Wendi Deng met him when she was working as vice-president of the company’s Star TV in Hong Kong. Susan Dell, married to Michael Dell, is chairperson of Phi, a well-known fashion label.

The magazine concludes that to gain membership to the billionaire wives’ club, looks are great – but brains are even better, and then goes on to say that there are just 110 eligible 10-figure bachelors, including divorced men, in the world.
Courtesy :- NDTV

Anil Ambani opens shop in Britain looking for European investors

Britain has approved the proposal of Indian tycoon Anil Ambani to open a London office of his fund managing company, Reliance Assets Management (RAM), to attract European investors for the first time.

Anil Ambani

The company, said to be among India’s largest fund managers, has won approval from the Financial Services Authority to open the London office with the objective of winning assets from wealthy and institutional investors in Britain and Switzerland.

This was announced in Wednesday’s Wealth-Bulletin, a Dow Jones company and online analysis service for the global wealth management industry.

RAM will be represented in Britain by its offshore fund, Emergent India. The minimum investment in the Emergent India fund is $100,000.

Its manager, Sunil Singhania, said, “The timing for marketing may not be right, but from an investment perspective it is just right. From these levels there is a great opportunity for investors, although there will also be some short-term dips.”

He is at present looking at capital goods and construction companies. With valuations in these sectors down by more than half, its stocks are starting to look attractive again.

He also likes financial services companies on the ground that India is under-banked, although he expects the next six months to be tough for the local economy.

The main worry is the inflation rate in India which is now over 11 percent. On top of it, the looming general elections could also weigh on stocks. “The market might react negatively to the political rhetoric,” Singhania said.

Though he did not confirm it, domestic uncertainty has apparently helped persuade the Anil Ambani group to look overseas. It launched a $1.4 billion natural resources fund in March that is allowed to have 35 per cent of its portfolio invested outside India. A representative office in Dubai targets non-resident Indians in the Middle East.

Courtesy :- Economic Times