28.1 C
Wednesday, October 21, 2020

Uday Kotak sole Indian in Forbes’ list of most powerful financiers

Must read

Coronavirus Victoria: Massive queues type outdoors Shepparton testing websites

Queues have begun forming outdoors COVID-19 testing websites within the regional Victoria metropolis of Shepparton hours earlier than they're as a consequence of...

Kyle Sandilands probes Gladys Berejiklian about ‘secret intercourse’

From secret intercourse to a George Costanza fetish, Kyle Sandilands didn’t maintain again when firing off cringey inquiries to NSW Premier Gladys Berejiklian...

Kotak Mahindra Bank chief Uday Kotak, who has a net worth of about $7.1 billion, is the sole Indian in Forbes’ list of 40 of the most powerful people in the financial world who control the flow of trillions of dollars around the global economy.

The 57-year-old Kotak is ranked 33rd in the Forbes list of ‘Money Masters: The Most Powerful People In The Financial World’ topped by Blackstone Group’s CEO Stephen Schwarzman, who has a net worth of $10.2 billion and oversees assets worth $344 billion.

It said the 40 financiers on the list dominate the world of money, from banking to buyouts, trading to takeovers.

“The hedge fund managers, private equity moguls and lenders who control the flow of trillions of dollars around the global economy impact just about all of us one way or another,” Forbes added.

With the Kotak bank overseeing $34.6 billion in assets, Forbes said the Indian billionaire, who has a net worth of about $7.1 billion, has made his fortune lending to the sprawling masses between Mumbai and Delhi and has also taken a stand on behalf of savers.

“His bank is continuing to offer 6 per cent on savings accounts, even as falling rates make it harder to do so. Kotak is gung ho on his native country and believes investing in India is like a Bollywood movie long, but with a happy ending,” it said.

“Even after a run-up in asset prices, the chief of the world’s biggest private equity firm is finding ways to put money to work, including recent real estate deals in India, where Blackstone Group now owns 30 million square feet of office space in major cities,” Forbes said.

The list also includes JPMorgan Chase CEO Jamie Dimon on the third spot, Berkshire Hathaway head Warren Buffet (4), Goldman Sachs chairman Lloyd Blankfein (9) and Soros Fund Management chief George Soros (10).

The candidates on the list were judged on net worth, assets under management or overseen, three-year track records and influence on markets.

Online Source

The Indian Telegraph Sydney Australia

Latest article

Deborah Toni Schultz jailed for stealing $33k from employer Adcrete Industries

A grandmother swindled greater than $33,000 from her employer within the perception she had been given an excessive amount of duty and her...

ASX falls after no clear signal of Cup Day price minimize

The Australian sharemarket misplaced floor after the Reserve Financial institution of Australia gave no clear signal of a Melbourne Cup Day rate of...

South Sydney and North Queensland ahead Ethan Lowe compelled to retire after struggling a neck damage

South Sydney and premiership-winning North Queensland ahead Ethan Lowe has been compelled to retire after struggling a neck damage earlier this season. Lowe...

Jackson Williams: Stunning CCTV footage captures footy participant’s nurse assault

An AFL district participant grabbed a nurse as she was strolling to work within the early morning, dragged her into an alleyway, pinned...

Household speaks after mother-of-five’s mysterious loss of life on Gold Coast freeway

The household of a mother-of-five discovered lifeless on the aspect of a busy Gold Coast freeway say the lady had “turned her life...