India’s Billionaires – Daddy’s Boys

It’s no secret that the BRIC (Brazil, Russia, India, China) countries have a much larger representation in the Forbes world’s billionaires rankings. What’s more interesting is the origination of the Indian billionaires’ wealth (four of the top eight billionaires were Indian). Says the WSJ‘s Robert Frank:

Clearly, Indian wealth has a different flavor than American wealth. All four of the Indian billionaires inherited substantial fortunes, suggesting that in India, wealth is still determined more by your parents than by your career or your ideas. While that’s changing, the number of large fortunes made by purely self-made entrepreneurs still lags far behind the U.S. And many of the biggest fortunes in India come from old-fashioned industries such as oil, steel and real estate.

Yet over time, I wouldn’t be surprised if an Indian — or a Russian or a Mexican — takes over Warren Buffett’s spot atop the list. [link]

Optimistic, but still a long way to go.

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2 comments for “India’s Billionaires – Daddy’s Boys

  1. March 7, 2008 at 4:21 pm

    I found your site on google blog search and read a few of your other posts. Keep up the good work. Just added your RSS feed to my feed reader. Look forward to reading more from you.

    – Randy Nichols.

  2. May 6, 2008 at 2:34 pm

    As someone who does see stagflation lite on the horizon, perhaps even the near-term horizon, i would like to know why greenspan thinks it “doesn’t” seem that we are entering a period of stagflation.,

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