Famous Entrepreneurs Information

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David Koch
Net Worth: $14 billion
Source: Koch Industries/U.S.
Age: 68
Marital Status: Married, three children

• Fortune of one of America's richest men down more than 25% in past six months as fertilizer, oil, chemical markets all collapsed.

• Still, sales at his Koch Industries topped $100 billion in 2008; company now America's second-largest private company.

• Father, Fred C. Koch (died 1967), invented method of turning heavy oil into gasoline. Sons Charles, David, Frederick and William inherited Koch Industries after father's death. Charles and David bought out William and Frederick for $1.1 billion in 1983.

• Today company has stakes in pipelines, refineries, fertilizer, fibers and polymers, forest and consumer products, chemical technology.
• Employs 80,000 workers in 60 countries.

• Purchased Invista, maker of Lycra and Coolmax fabric, in 2004 for $4.2 billion.

• Dropped $21 billion on paper and building-supply vendor Georgia-Pacific the following year. Brothers each own 42%.

• David is executive vice president.

• Holds chemical engineering degrees from MIT; pledged $100 million to alma mater for cancer research last year.

• Pledged another $100 million to New York's Lincoln Center last July.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: David Koch, famous entrepreneurs, Koch Industries

Charles Koch
Net Worth: $14 billion
Source: Koch Industries/U.S.
Age: 73
Marital Status: Married, two children

• Fortune of one of America's richest men down more than 25% in past six months as fertilizer, oil, chemical markets all collapsed.

• Still, sales at his Koch Industries topped $100 billion in 2008; company now America's second-largest private company.

• Father, Fred C. Koch (died 1967), invented method of turning heavy oil into gasoline. Sons Charles, David, Frederick and William inherited Koch Industries after father's death. Charles and David bought out William and Frederick for $1.1 billion in 1983.

• Today company has stakes in pipelines, refineries, fertilizer, fibers and polymers, forest and consumer products, chemical technology.

• Employs 80,000 workers in 60 countries.

• Purchased Invista, maker of Lycra and Coolmax fabric, in 2004 for $4.2 billion.

• Dropped $21 billion on paper and building-supply vendor Georgia-Pacific the following year. Brothers each own 42%.

• Charles is chief executive.

• Studied nuclear and chemical engineering at MIT; co-founder of conservative think tank Cato Institute.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: Charles Koch, famous entrepreneurs, Koch Industries

Stefan Persson
Net Worth: $14.5 billion
Source: Hennes & Mauritz/Sweden
Age: 61
Marital Status: Married, three children

• Heads cheap-chic fashion retailer Hennes & Mauritz; H&M known for bringing in big names like Madonna, Karl Lagerfeld, Stella McCartney and Kylie Minogue to design affordable collections for its 1,700 stores.

• Opened first store in Japan last fall.

• Business holding up so far amid economic downturn; sales, profits up 13% each in 2008.

• Stock up 3% in past year, but his fortune dragged down by weak euro.
• Plans to create 6,000 new jobs, open 225 stores this year, including first in Beijing.

• Stefan's father Erling founded H&M in 1947; Stefan took over in 1982, gave up chief executive position in 1998 but remains chairman.

• Son Karl-Johan, 34, will become chief this summer.

• Stefan is a founder of the Mentor Foundation, nonprofit that combats substance abuse among youth.

• Enjoys downhill skiing, tennis and golf.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: famous entrepreneurs, H and M, Hennes and Mauritz, Mentor Foundation, Stefan Persson

Michael Bloomberg
Net Worth: $16 billion
Source: Bloomberg LP/U.S.
Age: 67
Marital Status: Divorced, two children

• New York City mayor facing a fiscal crisis as banking chaos destroys Wall Street.

• Lucrative bonuses that came with working on Wall Street fueled spending on apartments, restaurants and shopping in recent years; as bonuses dry up, so does the city's income. Forecasts predict NYC's tax revenues will fall 28%--nearly $7 billion--in 2010 from 2008.

• Law passed in October will allow Bloomberg to run for third term later this year. Approval rating now 52%, down from 71% last summer.

• Becomes one of the world's richest men after a transaction put a solid valuation on Bloomberg LP: He borrowed to buy a 20% stake in his company from Merrill Lynch in July for $4.5 billion.

• Today he owns 88% of the financial data and news outfit he founded in 1982.

• Boston-born son of accountant got engineering degree from Johns Hopkins; M.B.A. from Harvard.

• Became a trader at Salomon Brothers 1970s, quit with $10 million in stock.

• Created financial information services firm Innovative Market Systems to sell financial data, analytic tools to Wall Street.

• Renamed Bloomberg LP in 1987; added news service, magazine, cable network, radio station.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: Bloomberg LP, famous entrepreneurs, Michael Bloomberg

Li Ka-shing
Net Worth: $16.2 billion
Source: Ports, retail, energy/Hong Kong
Age: 80
Marital Status: Widowed, two children

• Net worth of Hong Kong's "Superman" is down $10 billion in the past year, as stock of his publicly traded conglomerates Cheung Kong and Hutchison Whampoa tumbled.

• The two companies are about to start construction on a property project in Shanghai, China.

• HW's retail group plans to open 120 stores in China in 2009.

• Through the two companies, Li is world's largest operator of container terminals, world's largest health and beauty retailer by number of outlets, a major supplier of electricity to Hong Kong, and a real estate developer.

• His second-largest holding: Canadian oil firm Husky Energy, which cut spending by almost a third for 2009.

• Charitable foundation recently raised $510 million by selling 40% of its stake in Bank of China.

• Avid golfer plays almost every day; sank his 15th hole in one in September.

• Poor immigrant sold plastic flowers in Hong Kong in the 1950s.

• Eldest son, Victor, helps him run businesses; son Richard struck out on his own in early 1990s and is a billionaire in his own right.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: Cheung Kong, famous entrepreneurs, Husky Energy, Hutchison Whampoa, Li Ka-shing

Bernard Arnault
Net Worth: $16.5 billion
Source: Luxury goods/France
Age: 60
Marital Status: Divorced, remarried; five children

• France's richest man lost $9 billion in the past year, as shares of his $22 billion (sales) luxury goods group, LVMH Moët Hennessy Louis Vuitton, dropped 29%.

• Sailing into new waters: bought Princess Yachts, one of Britain's oldest luxury motorboat manufacturers, last summer; picked up yacht builder Royal van Lent soon after.

• Via his investment arm, Groupe Arnault, owns French tour operator Go Voyages and has a stake in French retailer Carrefour.

• Built Le Cheval Blanc in French ski resort town of Courchevel, where he often likes to spend New Year's Eve.

• Also owns two wineries with good friend, Belgian billionaire Albert Frere.

• Father made small fortune in construction; Arnault put up $15 million from that business to buy Christian Dior in 1985. Still a family affair, as both son Antoine, 31, and daughter, Delphine, 33, sit on LVMH's board.

• Wife is a concert pianist; Arnault himself reported to be an excellent piano player.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: Albert Frere, Bernard Arnault, Carrefour, Christian Dior, famous entrepreneurs, Groupe Arnault, Le Cheval Blanc, LVMH Moët Hennessy Louis Vuitton, Princess Yachts

Christy Walton & family
Net Worth: $17.6 billion
Source: Wal-Mart/U.S.
Age: 54
Marital Status: Widowed, one child

• Wal-Mart remains the exception to the rule in the crumbling retail sector, thanks to its global footprint and deeply discounted prices. Also helping: the exodus of competitors like Circuit City and Linens 'n Things.

• Shares down 25% since September.

• Fourth-quarter profit hurt by lawsuit settlements, poor currency exchange; still beat analyst expectations.

• Stake in solar-paneling outfit First Solar fared far worse; shares down 60% since August after surging 120% in previous 12 months.

• Sam Walton started as J.C. Penney clerk in 1940; opened Newport, Ark., five-and-dime store Benjamin Franklin five years later. Lost lease in 1950.

• With brother James started general store chain in Bentonville, Ark., in 1962.

• Today Wal-Mart is world's largest retailer: 7,200 stores, 2 million employees serve 200 million customers. Sales: $378 billion.

• Christy is the widow of John Walton (died 2005); donated seven-acre San Diego home to Cross Border Philanthropy.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: Christy Walton, famous entrepreneurs, First Solar, Wal-Mart

Alice Walton
Net Worth: $17.6 billion
Source: Wal-Mart/U.S.
Age: 59
Marital Status: Twice divorced

• Wal-Mart remains the exception to the rule in the crumbling retail sector, thanks to its global footprint and deeply discounted prices. Also helping: the exodus of competitors like Circuit City and Linens 'n Things.

• Shares down 25% since September.

• Fourth-quarter profit hurt by lawsuit settlements, poor currency exchange; still beat analyst expectations.

• Stake in solar-paneling outfit First Solar fared far worse; shares down 60% since August after surging 120% in previous 12 months.

• Sam Walton started as J.C. Penney clerk in 1940; opened Newport, Ark., five-and-dime store Benjamin Franklin five years later. Lost lease in 1950.

• With brother James started general store chain in Bentonville, Ark., in 1962.

• Today Wal-Mart is world's largest retailer: 7,200 stores, 2 million employees serve 200 million customers. Sales: $378 billion.

• Alice's Crystal Bridges art museum in Bentonville under construction. Collection already growing; acquisitions include Sargent's "Robert Louis Stevenson and His Wife," Benton's "Ploughing It Under."

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: Alice Walton, Crystal Bridges art museum, famous entrepreneurs, Wal-Mart

S. Robson Walton
Net Worth: $17.6 billion
Source: Wal-Mart/U.S.
Age: 65
Marital Status: Divorced, remarried; three children

• Wal-Mart remains the exception to the rule in the crumbling retail sector, thanks to its global footprint and deeply discounted prices. Also helping: the exodus of competitors like Circuit City and Linens 'n Things.

• Shares down 25% since September.

• Fourth-quarter profit hurt by lawsuit settlements, poor currency exchange; still beat analyst expectations.

• Stake in solar-paneling outfit First Solar fared far worse; shares down 60% since August after surging 120% in previous 12 months.

• Sam Walton started as J.C. Penney clerk in 1940; opened Newport, Ark., five-and-dime store Benjamin Franklin five years later. Lost lease in 1950.

• With brother James started general store chain in Bentonville, Ark., in 1962.

• Today Wal-Mart is world's largest retailer: 7,200 stores, 2 million employees serve 200 million customers. Sales: $378 billion.

• Rob is Wal-Mart chairman; helping company become eco-friendly through partnership with environmental group Conservation International.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: Conservation International, famous entrepreneurs, S. Robson Walton, Wal-Mart

Jim C. Walton
Net Worth: $17.8 billion
Source: Wal-Mart/U.S.
Age: 61
Marital Status: Married, four children

• Wal-Mart remains the exception to the rule in the crumbling retail sector, thanks to its global footprint and deeply discounted prices. Also helping: the exodus of competitors like Circuit City and Linens 'n Things.

• Shares down 25% since September.

• Fourth-quarter profit hurt by lawsuit settlements, poor currency exchange; still beat analyst expectations.

• Stake in solar-paneling outfit First Solar fared far worse; shares down 60% since August after surging 120% in previous 12 months.

• Sam Walton started as J.C. Penney clerk in 1940; opened Newport, Ark., five-and-dime store Benjamin Franklin five years later. Lost lease in 1950.

• With brother James started general store chain in Bentonville, Ark., in 1962.

• Today Wal-Mart is world's largest retailer: 7,200 stores, 2 million employees serve 200 million customers. Sales: $378 billion.

• Jim chairs Arvest Bank Group, Community Publishers.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: Arvest Bank Group, famous entrepreneurs, Jim C. Walton, Wal-Mart

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Something strange happened this week in Amazon.com's apparel section.

For a day or two, a black T-shirt featuring an image of three wolves baying at a full moon claimed the top slot at the online store's clothing bestseller list,, beating out the usual, unremarkable mix of Levi's 505 regular-fit jeans, Crocs clogs and Adidas running shoes.

Three Wolf Moon T-Shirt, Available in Various Sizes

And really, why wouldn't you buy the shirt, which is priced from $7.65 to $17.93, depending on your size? Just read the long and growing list of customer testimonials promising earth-shattering experiences or psychedelic vision quests upon purchase.

"I bought this shirt and instantly old girlfriends started calling me again," wrote one reviewer."My doctor says the cancer has gone into remission," wrote another. "

Thanks for changing my life!"The shirt's page at Amazon.com had quietly existed for years without much comment, but after a snarky link from CollegeHumor.com, the "Three Wolf Moon" shirt suddenly sprouted hundreds of five-star ratings.

Reviewers have dreamed up epics about its powers, weaving fantasies involving everything from the Large Hadron Collider in Switzerland to the pop group Duran Duran.

As the joke caught on and got passed around the Web, Photoshopped spoofs of the shirt started appearing online -- featuring corgi puppies, spiders or haddock instead of the now-famous wolves.

CollegeHumor.com, a comedy site started in 1999 by a couple of high school friends who grew up together in Timonium, Md., also claimed victory this week for rigging an online poll run by the state of Nebraska to select a new license-plate design.

The site urged its readers to vote for what it deemed the most boring design available to Nebraska drivers. That gray-and-white plate won.Officials in Nebraska said they monitored Web traffic to screen out visitors coming directly from the humor site, but CollegeHumor.com was still, credibly, claiming the joke a success this week.

"Together we pranked the entire automobile-owning population of Nebraska," wrote a CollegeHumor.com editor, in a Wednesday posting. "Congratulations."

This type of online rabble-rousing appears to be catching on more than ever over the past year, said Tim Hwang, the organizer of ROFLCon, a convention dedicated to celebrating Internet memes.

After all, another Web-based prank crossed over into the real world just last month when a 21-year-old college student, known by the online moniker "m00t," sailed to the top of Time's "most influential person" list in an online poll, beating out the likes of President Obama and Oprah Winfrey.

Gathering nearly 17 million votes, the world's "most influential" person is the founder of another jokey Web culture site, 4chan.org, whose proprietor is known offline by the name Christopher Poole. If you don't get why the shirt, and its reviews, are so funny, don't worry.

CollegeHumor.com co-founder Josh Abramson said it's a case where the shirt is so uncool that it's cool."A lot of things that become popular on the Web are based around just being ironic and being an inside joke," Abramson said.

"This resonates with a geeky, hip crowd that is very Web-savvy. When something resonates with that circle, crazy things can happen."Abramson said his team had considered licensing the wolf shirt for sale.

CollegeHumor.com, which had 7 million unique Web visitors last month, also has an online store that sells T-shirts with ironic catchphrases and designs, called BustedTees.com. But it appears that the site may have been a bit slow to catch on to its own meme.

"We're kicking ourselves that we didn't," he said.The New Hampshire company that makes the "Three Wolf Moon" shirt said that it doesn't generally mind being the butt of this joke."You have to be able to laugh at yourself," said Michael McGloin, a partner and art director at the Mountain, who added that he finds some of the reviews to be "freaking hilarious."

The company certainly doesn't mind the shirt's recent uptick in sales: "Three Wolf Moon" is sold out, and the Mountain has started printing up a fresh batch.

It seems that the wolf theme was growing in popularity even before the Internet hipsters descended, McGloin said."Wolf shirts are super hot right now," he said. "It's the year of the wolf, I guess."

Click now to Three Wolf Moon T-Shirt, Available in Various Sizes

By Mike Musgrove, Washington Post Staff Writer

Labels: famous entrepreneurs, ironic tshirt, the mountain, three wolf moon, tshirt, wolf moon, wolf shirt, wolf t-shirt

Worth Rises, Falls 'With Markets and Attitudes And With Feelings, Even My Own Feeling'

It's one of the great mysteries of the business world: How much is Donald Trump really worth?

The world famous real-estate developer and television personality has consistently said it's in the billions.

A 2005 book citing anonymous sources said it was between $150 million and $250 million. Mr. Trump sued the writer for defamation. He alleged damage to his reputation that caused him to lose out on future deals in locales from Philadelphia to Kiev.

A hearing in that case will take place Monday in a state court in Camden, N.J. As part of the proceedings, the Donald, as he's known to fans and detractors alike, has provided under oath the secrets to how he values his wealth and treasure.

In one case, he says, he does "mental projections."

"My net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings, even my own feeling," he told lawyers in the December 2007 deposition.

The deposition, marked "Confidential," comes to light at a time when some of Mr. Trump's projects, including several condominium developments that bear his name, are struggling. Among the problems are anemic sales, lawsuits, sharp declines in value and troubles with creditors.

In a telephone interview Sunday, Mr. Trump disputed that these are tough times for him. "We have a lot of cash right now. We're starting to buy things," he said while taking a break from playing golf at a Trump course in Bedminster, N.J. He said he stood by the statements he made in the deposition.

In the deposition, given to lawyers representing the book's author, Timothy O'Brien, and its publisher, a unit of French-based Lagardere SCA, Mr. Trump described his public persona. "I'm not different from a politician running for office," he said.

In the deposition, Mr. Trump said that his 2007 estimate of his net worth -- over $4 billion -- is "a very conservative number, in my opinion." He also said $6 billion is a good number, counting his brand value. (In the interview Sunday, he said he was worth $5 billion, not counting brand value.)

Mr. Trump was asked whether he has ever exaggerated in statements about his properties. "I think everybody does," he said in the deposition. "Who wouldn't?"

A follow-up question: Does that mean he inflates the value of his properties in general, nonfinancial public statements? "Not beyond reason," he said in the testimony.

The deposition reveals he told his bankers and New Jersey casino authorities in 2004 and 2005 that he was worth approximately $3.6 billion. In 2005, Deutsche Bank evaluated his net worth as part of underwriting a $640 million construction loan it made to Mr. Trump's Chicago condo and hotel project. The bank said his worth was $788 million, according to information presented by the author's lawyers present during Mr. Trump's deposition.

In his testimony, Mr. Trump discounted that and other low-ball evaluations as "ridiculous." And he noted, "They [Deutsche Bank] still come up with numbers that are many times" what the book's author, Mr. O'Brien, reported. In his interview Sunday, he said Deutsche Bank looked at some of his assets, not all of them, and didn't do independent appraisals. A Deutsche Bank spokesman couldn't be reached.

Mr. Trump said Sunday that Mr. O'Brien, author of "TrumpNation: The Art of Being the Donald," will "wish he never heard of that God damn book" and predicted that "the publishing company will pay me hundreds of millions of dollars" as a result of the suit.

Mr. O'Brien, who is an editor at the New York Times, declined to comment through his attorney, citing the ongoing litigation.

In the deposition, Mr. Trump discussed how he determined the value of a residential development on old rail yards on Manhattan's west side. According to the deposition, when a newsletter reporter writing about the project's 2005 sale for $1.8 billion said Mr. Trump had a "small interest," Mr. Trump wrote him a note. "You're a real loser. Thanks for the nice story. Is 50% small?"

But Mr. Trump had a 30% limited-partnership interest in the project, according to legal documents. A group of Hong Kong investors were the owners. Asked about this during the deposition, Mr. Trump explained that, in his eyes, he owned half because he gets paid fees for managing the buildings and because he didn't have to put up cash in the deal.

"In my own mind I've always felt that," he said. "That 30% is equated to 50%," he said. In his interview Sunday, Mr. Trump said he had owned the equivalent of "more than 50%."

Mr. Trump often licenses his name to other developers in return for a fee or a cut of the sales. During the deposition, Mr. O'Brien's lawyer, Andrew Ceresney, noted that Mr. Trump had claimed publicly that he had a major ownership in one such project.

For example, in a November 2007 Wall Street Journal interview cited by Mr. Ceresney, Mr. Trump said he had sold out units at an eponymous condo-hotel project in Hawaii. "The building is largely owned by me," he said in the interview. But in the deposition, Mr. Ceresney produced the licensing agreement for the project. Mr. Trump wasn't a major equity holder in the project, it showed, a fact Mr. Trump didn't dispute.

"Because this is such a strong licensing agreement that I consider it to be a form of ownership," Mr. Trump said. "I'd rather have this than own the building," he said. Moments later he said: "I would say that it could be interpreted to be a form of ownership in the building."

In the deposition, Mr. Trump is asked about the Bedminster, N.J. golf course, which financial statements showed had a net loss of $4.6 million in 2005. Has he ever done a financial analysis of his investment there?

"Yes, I've done mental projections," he said, figuring he'd eventually make $120 million. He never put them down on paper. "You don't really have to," he said. Mr. Ceresney, asks: "Have you discounted in your mind for the risk that you won't sell [memberships] at the prices you are anticipating?"

"I think I will, but it's possible I won't. But I think I will," Mr. Trump said.

At one point during the deposition, Mr. Trump explained the importance of putting his projects in the best light possible. "Would you like me to say, oh, gee, the building is not doing well, blah, blah, blah, come by, the building -- nobody talks that way. Who would ever talk that way?"

Write to Alex Frangos at alex.frangos@wsj.com

www.wsj.com

Labels: Donald Trump, famous entrepreneurs

10. Amancio Ortega

Net Worth: $18.3 billion
Source: Fashion/Spain
Age: 73
Marital Status: Divorced, remarried; three children

Railway worker's son started as a gofer in a shirt store.

With then wife Rosalia Mera, also now a billionaire, started making dressing gowns and lingerie in their living room.

Business became one of world's most successful apparel manufacturers.

Today, Inditex has more than 4,000 stores in 71 countries. Sales: $12.3 billion. Ortega is chairman.

Company exported its cheap chic Zara stores to four new markets last year: Ukraine, South Korea, Montenegro and Honduras.

Stock up 1% in past 12 months, but fortune down because of weak euro.

Also has personal investments in gas, tourism, banks and real estate.

Owns properties in Madrid, Spain; Paris; London; and Lisbon, Portugal; plus a luxury hotel and apartment complex in Miami, a horse-jumping circuit and an interest in a soccer league.

Shuns neckties and fanfare. Daughter Marta works for Inditex; recent speculation suggests she is being groomed to eventually replace her father.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: amancio ortega, famous entrepreneurs, fashion, inditex, spain, zara

9. Theo Albrecht

Net Worth: $18.8 billion
Source: Supermarkets/Germany
Age: 87
Marital Status: Married, two children

Runs discount supermarket group Aldi Nord; firm holding up amid economic downturn. Sales expected to hit $31 billion in 2008.

After World War II he and older brother Karl transformed their mother's corner grocery into Aldi.

Brothers split ownership in 1961; Karl took the stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo got the northern Germany stores and the rest of Europe.

Unable to operate Aldi stores in U.S., Theo developed discount food store Trader Joe's; now has more than 320 U.S. stores.

Also owns stake in Supervalu. Became a recluse after being kidnapped for 17 days in 1971; said to collect old typewriters, loves golf.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: aldi nord, famous entrepreneurs, germany, supermarkets, theo albrecht

8. Lakshmi Mittal

Net Worth: $19.3 billion
Source: Steel/India
Age: 58
Marital Status: Married, two children

Indian immigrant heads world's largest steel company; ArcelorMittal was formed via hostile takeover three years ago.

Stock in company makes up bulk of his fortune; shares at a four-year low, with steel prices down 75% since last summer.

Company forced to pay heavy fines after a French antitrust investigation found 10 companies guilty of price-fixing in European steel markets.

Arcelor posted $2.6 billion loss in most recent quarter; announced plans to slow acquisitions, cut capital expenditures, pay down debt.

Started in family steel business in the 1970s, branched out on his own in 1994.

Initially bought up steel mills on the cheap in Eastern Europe. Company bought 19.9% stake in Australia's Macarthur Coal last year.

Also owns pieces of Mumbai's Indiabulls Group, London's RAB Capital; owns stake in, sits on board of Goldman Sachs. Holds substantial cash; owns 12-bedroom mansion in London's posh Kensington neighborhood.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: arcelor mittal, famous entrepreneurs, india, lakshmi mittal, steel

7. Mukesh Ambani

Net Worth: $19.5 billion
Source: Petrochemicals/India
Age: 51
Marital Status: Married, three children

Oversees Reliance Industries, India's most valuable company by market cap, despite stock falling 40% in past year.

Merging his Reliance Petroleum with flagship Reliance Industries. As part of deal, will exercise right to buy back Chevron's 5% stake in Reliance Petroleum at $1.2 per share--the same price at which he sold it three years ago. Today the stock trades for $1.80 a share.

Increased stake in Reliance Industries last October; paid $3.4 billion to convert 120 million preferential warrants into shares.

Reliance Petroleum refinery on India's western coast began operating in December despite falling global demand and declining margins.

Late father Dhirubhai founded Reliance and built it into a massive conglomerate. After he died, Mukesh and his brother, Anil, ran the family business together for a brief time.

But siblings feuded over control; mother eventually brokered split of assets. Brothers may be looking to bury hatchet; played joint hosts at mother's recent 75th birthday bash.

Has yet to move into his 27-story home that he's building at a reported cost of $1 billion.
Ardent fan of Bollywood films. Wife, Nita, oversees school named after his father.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: famous entrepreneurs, india, mukesh ambani, petrochemicals, reliance industries

6. Karl Albrecht
Net Worth: $21.5 billion
Source: Supermarkets/Germany
Age: 89
Marital Status: Married, two children

Germany's richest person owns discount supermarket giant Aldi Sud.

Retailer faring well amid economic downturn; analysts expect its 2008 sales to be up 9.4% to $33.7 billion. Sales in the U.S. up estimated 20% last year to $7 billion.

Plans to open 75 U.S. stores in 2009, including first in New York City.

With younger brother, Theo, transformed their mother's corner grocery store into Aldi after World War II.

Brothers split ownership in 1961; Karl took the stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo got northern Germany and the rest of Europe.
Retired from daily operations.

Fiercely private: little known about him other than that he apparently raises orchids and plays golf.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: aldi sud, famous entrepreneurs, germany, karl albrecht, supermarkets

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Labels: famous entrepreneurs, home business, internet marketing, work at home

Ingvar Kamprad
Net Worth: $22 billion
Source: Ikea/Sweden
Age: 83
Marital Status: Divorced, remarried; four children

Peddled matches, fish, pens, Christmas cards and other items by bicycle as a teenager.

Started selling furniture in 1947.

Opened first Ikea store 50 years ago; store's name is a combination of initials of his first and last name, his family farm and the nearest village.

Retired in 1986; company's "senior adviser" still reportedly works tirelessly on his brand.
Discount retailer now sells 9,500 items in 36 countries; prints catalog in 27 languages. Revenues up 7% to $27.4 billion in fiscal-year 2008.

Opened 10th store in China this February; planning to open first in Dominican Republic later this year.

Three sons all work at the company.

Thrifty entrepreneur flies economy class, frequents cheap restaurants and furnishes his home mostly with Ikea products.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: famous entrepreneurs, ikea, ingvar kamprad, sweden, world's richest