Monday, February 18, 2013


The idea that the present economic downturn is affecting everyone from the richest to the poorest was recently given credence by this report. 'Britain's richest man took a small cut in pay last year. Lakshmi Mittal, chairman and chief executive of Arcelor Mittal, banked $3.87m (£2.49) in pay and perks from the steel giant, down from $4m previously. .... Lakshmi Mittal's 40% stake in Arcelor Mittal is worth $10.3bn (£6.6bn). The Sunday Times Rich List estimates his fortune at £12.7 bn.' (Sunday Times, 17 February) Wow, a fall from $4m to a mere $3.87m. It's tough at the top! RD

No comments: