Super-rich are super-losers16/02/2009 20:11 - (SA)
Moscow - Russia's super-rich are also super-losers in the financial crisis, according to the business magazine Finans, which said on Monday the top 10 wealthiest Russians lost about two-thirds of their fortunes over the past year.
The magazine's annual list of Russia's richest shows them suffering breathtaking losses as the country faces its worst financial crisis in a decade.
Oleg Deripaska, who had topped the Finans list in the previous two years, fell to eighth place after losing some 85% of his wealth - down to $4.9 billion from $40 billion, Finans estimated.
Mikhail Prokhorov, the playboy metals and banking billionaire who sold his stake in mining company Norilsk Nickel early last year, moved up from seventh place to top the list with a fortune of $14.1 billion, down from $21.5 billion a year ago, the magazine said.
Roman Abramovich, owner of Britain's Chelsea Football Club and a stake in steelmaker Evraz, held on to second place. But his fortune, estimated last year at $23 billion, has shrunk to $13.9 billion.
Russia's stock markets lost 70% of their value last year, while the national currency has lost 35% since the summer.
Aggressive geopolitical rhetoric and worsening corporate governance drove many investors away, while plunging prices for oil and metals underscored the fragility of Russia's eight-year oil-fuelled boom.
Deripaska, whose business interests include metals, construction and energy, was forced to cede stakes in Canadian auto components maker Magna and German housebuilder Hochtief last year.
He previously has objected to the estimates put on his wealth, saying that they failed to consider the size of his debts.
Deripaska built his fortune on the back of aggressive borrowings, and his Rusal aluminium company is reported to owe approximately $17 billion.
Other losers include steel magnates Vladimir Lisin, owner of a majority stake in NLMK, and Alexei Mordashov, owner of Severstal.
Lisin, who clings to third place, has seen his fortune plunge by 65% to $7.7 billion. Mordashov's fortune is down 81% to just $4.1 billion.
Finans, which publishes its "rich list" two months ahead of the better-known US Forbes list of billionaires, said the list had halved from last year, when they counted 101 billionaires.
Last year, Forbes confirmed Deripaska as Russia's richest man.
- AP
http://www.news24.com/
THE SHOOBS CORNER
ALL THE WAY FROM THE UK
Scolari out and football rich list As expected, Guus Hiddink’s appointment as Chelsea Gaffer is grabbing all the headlines here in the UK at the moment. It’s not been quite the same media circus that followed Mourinho’s departure, than again Mourinho is a much more assertive figure than Big Phil. However, Big Phil’s departure is slightly more controversial than Mourinho’s and I think for this very reason Chelsea have tried their best to play it down and use results as the sole reason Scolari was given the boot. Speculation at the Bridge about senior players not being happy with Big Phil has been around for a long time with Drogba being the unhappiest of the lot. Skipper JT also said something to one of the newspapers about him and maybe “two or three other players” being behind the gaffer. It has also been said that players felt Scolari didn’t keep Chelsea aggressive enough to mount a challenge in the Premiership.
I truly believe that all these issues put the writing on the wall for Scolari, but ultimately it came down to the ego of that Russian mobster who apparently had the “death mask” look on his face (which he is famous for doing right before screwing someone over) before he told Scolari to f**k off. Still, Scolari I reckon is not to upset as he still gets to bank around £7 mil for his efforts ... All in all, another sad episode of Life after the Special One at Stamford Bridge. Sad day to be a Blues supporter... Good week to be a Man United supporter. I’ve heard so much being said about the Arsenal youngsters but for the first time I’ve seen the media heap praise on the younger United squad. Derby manager Nigel Clough even went as far as saying United will win the lot after United schooled his team. “if anyone can do it they can,” said Clough “If they had played Arsenal, Liverpool or Chelsea in that form they could have put four past them, they were that good”. Let’s hope United can maintain their form and even though I think we’ll have a tough time getting past Mourinho’s Inter, if we capture just the league, I’ll be happy. Considering the last two seasons United has had, for United to be in serious contention for all 4 trophies is a testament to the heart of the team and the mark of a great manager.
The Deloitte Football Money League was updated last week as well and despite Man United revealing record profits thanks to being crowned Champions of Europe and Champions of the World, they still came in second to Real Madrid who have held their spot at number 1. Real have doubled their revenues since 2002 raking in a cool £289.6 million over the 2007/2008 period. Real, despite losing the “Beckham factor” are budgeting for revenues of £360 million for the 2008/2009.
List is as follows: 1
(1) Real Madrid – £289.6m2
(2) Manchester United – £257.1m
3 (3) FC Barcelona – £244.4m
4 (7) Bayern Munich – £233.8m
5 (4) Chelsea – £212.9m (The drop in revenue and profits put down to not winning any titles and massive payouts to Mourinho and Grant)
6 (5) Arsenal – £209.3m (Despite the Emirates bringing the Gooners an additional £1 mil every game they’ve dropped a spot – once again put down to a lack of success on the pitch)
7 (8) Liverpool – £167.0m (The clubs finances are starting to look “dire” and with their owners trying to flog the club at a ridiculous asking price, the books are not looking promising)
8 (6) AC Milan – £165.8m (No Champions league has cost the Rosoneri)
9 (11) AS Roma – £138.9m
10 (9) Internazionale – £136.9
11 (12) Juventus - £132.6m
12 (13) Lyon – £123.3m
13 (16) Schalke 04 – 117.5m
14 (10) Tottenham – £114.8
15 (15) Hamburg – £101.3m
16 (19) Marseille – £100.4m
17 (14) Newcastle – £99.4m
18 (-) Stuttgart – £88.3m
19 (-) Fenerbahce – £88.1m
20 (-) Manchester City – £82.3m
Source: Deloitte 2007/2008 revenue, previous year in brackets. Metrosport Thursday, February 12, 2009
Interesting to note that 4 of the top 10 revenues are from English clubs maintaining the notion that the EPL is the biggest money spinner in football. I’m off to Old Trafford this weekend to watch the game against Blackburn and will send Swoosh some pics.
Moscow - Russia's super-rich are also super-losers in the financial crisis, according to the business magazine Finans, which said on Monday the top 10 wealthiest Russians lost about two-thirds of their fortunes over the past year.
The magazine's annual list of Russia's richest shows them suffering breathtaking losses as the country faces its worst financial crisis in a decade.
Oleg Deripaska, who had topped the Finans list in the previous two years, fell to eighth place after losing some 85% of his wealth - down to $4.9 billion from $40 billion, Finans estimated.
Mikhail Prokhorov, the playboy metals and banking billionaire who sold his stake in mining company Norilsk Nickel early last year, moved up from seventh place to top the list with a fortune of $14.1 billion, down from $21.5 billion a year ago, the magazine said.
Roman Abramovich, owner of Britain's Chelsea Football Club and a stake in steelmaker Evraz, held on to second place. But his fortune, estimated last year at $23 billion, has shrunk to $13.9 billion.
Russia's stock markets lost 70% of their value last year, while the national currency has lost 35% since the summer.
Aggressive geopolitical rhetoric and worsening corporate governance drove many investors away, while plunging prices for oil and metals underscored the fragility of Russia's eight-year oil-fuelled boom.
Deripaska, whose business interests include metals, construction and energy, was forced to cede stakes in Canadian auto components maker Magna and German housebuilder Hochtief last year.
He previously has objected to the estimates put on his wealth, saying that they failed to consider the size of his debts.
Deripaska built his fortune on the back of aggressive borrowings, and his Rusal aluminium company is reported to owe approximately $17 billion.
Other losers include steel magnates Vladimir Lisin, owner of a majority stake in NLMK, and Alexei Mordashov, owner of Severstal.
Lisin, who clings to third place, has seen his fortune plunge by 65% to $7.7 billion. Mordashov's fortune is down 81% to just $4.1 billion.
Finans, which publishes its "rich list" two months ahead of the better-known US Forbes list of billionaires, said the list had halved from last year, when they counted 101 billionaires.
Last year, Forbes confirmed Deripaska as Russia's richest man.
- AP
http://www.news24.com/
THE SHOOBS CORNER
ALL THE WAY FROM THE UK
Scolari out and football rich list As expected, Guus Hiddink’s appointment as Chelsea Gaffer is grabbing all the headlines here in the UK at the moment. It’s not been quite the same media circus that followed Mourinho’s departure, than again Mourinho is a much more assertive figure than Big Phil. However, Big Phil’s departure is slightly more controversial than Mourinho’s and I think for this very reason Chelsea have tried their best to play it down and use results as the sole reason Scolari was given the boot. Speculation at the Bridge about senior players not being happy with Big Phil has been around for a long time with Drogba being the unhappiest of the lot. Skipper JT also said something to one of the newspapers about him and maybe “two or three other players” being behind the gaffer. It has also been said that players felt Scolari didn’t keep Chelsea aggressive enough to mount a challenge in the Premiership.
I truly believe that all these issues put the writing on the wall for Scolari, but ultimately it came down to the ego of that Russian mobster who apparently had the “death mask” look on his face (which he is famous for doing right before screwing someone over) before he told Scolari to f**k off. Still, Scolari I reckon is not to upset as he still gets to bank around £7 mil for his efforts ... All in all, another sad episode of Life after the Special One at Stamford Bridge. Sad day to be a Blues supporter... Good week to be a Man United supporter. I’ve heard so much being said about the Arsenal youngsters but for the first time I’ve seen the media heap praise on the younger United squad. Derby manager Nigel Clough even went as far as saying United will win the lot after United schooled his team. “if anyone can do it they can,” said Clough “If they had played Arsenal, Liverpool or Chelsea in that form they could have put four past them, they were that good”. Let’s hope United can maintain their form and even though I think we’ll have a tough time getting past Mourinho’s Inter, if we capture just the league, I’ll be happy. Considering the last two seasons United has had, for United to be in serious contention for all 4 trophies is a testament to the heart of the team and the mark of a great manager.
The Deloitte Football Money League was updated last week as well and despite Man United revealing record profits thanks to being crowned Champions of Europe and Champions of the World, they still came in second to Real Madrid who have held their spot at number 1. Real have doubled their revenues since 2002 raking in a cool £289.6 million over the 2007/2008 period. Real, despite losing the “Beckham factor” are budgeting for revenues of £360 million for the 2008/2009.
List is as follows: 1
(1) Real Madrid – £289.6m2
(2) Manchester United – £257.1m
3 (3) FC Barcelona – £244.4m
4 (7) Bayern Munich – £233.8m
5 (4) Chelsea – £212.9m (The drop in revenue and profits put down to not winning any titles and massive payouts to Mourinho and Grant)
6 (5) Arsenal – £209.3m (Despite the Emirates bringing the Gooners an additional £1 mil every game they’ve dropped a spot – once again put down to a lack of success on the pitch)
7 (8) Liverpool – £167.0m (The clubs finances are starting to look “dire” and with their owners trying to flog the club at a ridiculous asking price, the books are not looking promising)
8 (6) AC Milan – £165.8m (No Champions league has cost the Rosoneri)
9 (11) AS Roma – £138.9m
10 (9) Internazionale – £136.9
11 (12) Juventus - £132.6m
12 (13) Lyon – £123.3m
13 (16) Schalke 04 – 117.5m
14 (10) Tottenham – £114.8
15 (15) Hamburg – £101.3m
16 (19) Marseille – £100.4m
17 (14) Newcastle – £99.4m
18 (-) Stuttgart – £88.3m
19 (-) Fenerbahce – £88.1m
20 (-) Manchester City – £82.3m
Source: Deloitte 2007/2008 revenue, previous year in brackets. Metrosport Thursday, February 12, 2009
Interesting to note that 4 of the top 10 revenues are from English clubs maintaining the notion that the EPL is the biggest money spinner in football. I’m off to Old Trafford this weekend to watch the game against Blackburn and will send Swoosh some pics.
Check out Shoobs's site http://blog.livesoflondon.co.uk/.
FROM THE KOP END
Torres Gets Rafa Out Of Jail
FROM THE KOP ENDTorres Gets Rafa Out Of Jail
By RED FOR LIFE
Fernando Torres came off the bench to score a dramatic injury time winner against Portsmouth at the weekend. Rafa left him, Alonso, Kuyt and Riera on the bench and started with a "weakened" 11. Eyebrows were raised when Rafa went with a very unconventional starting line-up. 5 at the back and Aurelio in the centre of the park! What was he thinking? Why did he change the formation of the team?Aurelio was holding his own in midfield and even added some flair to it but we were lacking Alonso's ability and craftmanship to split defences and create something out of nothing and duly did that once he was introduced.Babbel looks like a broken man on the field. He no longer seems to have the ability to run at defences. His confidence is gone thanks to Rafa's inability to find his best position on the field. Is it as a winger or a striker, no one seems to know let alone Rafa. And what about the selection of Ngog to lead the line. He showed some good touches in pre-season games but nothing of late warrants a start. Rafa would have done better keeping Keane.Thank God Lucas was suspended for the game otherwise Mascherano might have also joined the "dream" team on the bench!Ok Rafa got the 3 points with resting key players and using them sparingly at the end but I just hope he knows what hes doing in the run in to the championship. With Gerrard out for up to 3 weeks he cannot gamble with his team selection. He need all his "big" players to come to the party and overhaul the points deficit to the mancs and bring home our 19th Championship.
Fernando Torres came off the bench to score a dramatic injury time winner against Portsmouth at the weekend. Rafa left him, Alonso, Kuyt and Riera on the bench and started with a "weakened" 11. Eyebrows were raised when Rafa went with a very unconventional starting line-up. 5 at the back and Aurelio in the centre of the park! What was he thinking? Why did he change the formation of the team?Aurelio was holding his own in midfield and even added some flair to it but we were lacking Alonso's ability and craftmanship to split defences and create something out of nothing and duly did that once he was introduced.Babbel looks like a broken man on the field. He no longer seems to have the ability to run at defences. His confidence is gone thanks to Rafa's inability to find his best position on the field. Is it as a winger or a striker, no one seems to know let alone Rafa. And what about the selection of Ngog to lead the line. He showed some good touches in pre-season games but nothing of late warrants a start. Rafa would have done better keeping Keane.Thank God Lucas was suspended for the game otherwise Mascherano might have also joined the "dream" team on the bench!Ok Rafa got the 3 points with resting key players and using them sparingly at the end but I just hope he knows what hes doing in the run in to the championship. With Gerrard out for up to 3 weeks he cannot gamble with his team selection. He need all his "big" players to come to the party and overhaul the points deficit to the mancs and bring home our 19th Championship.
In Super 14, The most impotant thing is that the Lions & Sharks won, poor Joost got caught. But we will have a comprehensive write up next week
SUPER TUESDAY QUESTION BY UNCLE BHAI GORA
My friend Guus Hiddink is at Chelsea, I really expected him to take de Bafana Job as he vas right man. Vill Guus vin Europe or Premiership wid Chelsea.
Can he do it. bad thing for Svoosh's Juve. Guus and Italians dont go together?
Swoosh, i see the trophyless Maldini is still on the list. For izzet's sake, remove him.
ReplyDeleteLizarazu won a World Cup.. Slot him in.
its sad that you don't have a super 14 round up lol
ReplyDeletethis weekends matches was the start of something exciting :P
What happened to Joost van De Vesthuizen. Somebody please give me the lowdown
ReplyDeleteRuben Krooger
Guus.Makes miracles.
ReplyDeleteChelsea to fuck juve up and win the champions League.I dont think Man Utd will beat Inter. The first leg is crucial.
Mourinho and Hiddink will be the key figures in this years Champions League
T.Q.S
The Quwatul (Now under rennovation) Saatie
Come on Jose.Come on Jose
ReplyDeleteThe MANCS are scared.
Rumour has it that Joost got caught in a scrum without his wife
ReplyDeleteare we dutchman that we must talk bout rugby?
ReplyDeletewho the hell cares about joost?
who is Joost?
ReplyDelete