Recently one afternoon I was working out in the club gym - fighting a losing battle against ageing. A young lady walked in. I know her family well. They are mega rich. We exchanged greetings. I asked her how she was. "OK", she replied. In return she asked me how I was? I replied "I am ok. But I would be better if I had $ 10, million". She laughed and replied: "but lots of money can be a curse! I want to be cursed - forever and always".
The Forbes' list of the World's Billionaires has just been announced. Before we look at the names, lets tarry a while to contemplate some significant benefits billionaires enjoy.
1. Soon they will be able to live forever or at least till 150 years. Medical technology already exists to prolong life till 150. Mega rich people can go to the clinic every two years and get Rebooted - hair, eyes, teeth, heart, Lungs, bones, muscles etc. In fact the 21st century is all about 'longevity' and the superman.
2. Beautiful women can stay that way past 100 years. Joan Collins and Madam Noor Jahan tried well into their 70s. Mariyam Nawaz still looks cute. I understand two make-up attendants accompany her all the time. No wonder that Francoise Bettencourt Meyers of L'Oreal is the second richest woman in the world, worth US $ 42.2 billion - she is the purveyor of Beauty and Glamour.
3. If you are a billionaire you can never lose an election (unless Imran Khan steps in). All over the world, money translates into votes. The democracy in the US is driven by money - lots and lots of it. Also in Japan, Russia, China, Pakistan, Iran etc. that's why politicians need lots of money. We must not begrudge them. Even in non-democratic countries the ruling elites spend a lot of money to buy off the people. In one Arab country, after the outbreak of the Arab Spring in 2008, a ruling family spent US $ 90 billion, buying the loyalty of its citizens.
The billionaires list makes interesting reading:
1. Jeff Bezos' net worth has crossed US $ 115 Billion (Pl. see my recent Article on Bezos in this newspaper)
2. Warren Buffett comes in at No.3 - worth US $ 84 Billion. At 87 years he's still sharp. Recently he's made some bad bets on old world 'Industrials'. He way lose some money.
3. Bernard Arnault of LVMH (France) is worth US $ 72 billion. He and Ms. Bettencourt sell luxury & beauty. They can only get richer. Francois Pinault of France is worth US $ 27 billion. He also sells luxury brands.
4. Indians have done rather well. In the top 150, there are 9 Indians. Mukesh Ambani (petrochemicals, oil, gas) is worth US $ 40.1 billion. The Hinduja family (UK) is worth US $ 19.5 billion. Premjee (software) is valued at US $ 18.8 billion. Lakshmi Mittal (steel) US $ 18.5 billion Pollanji Mistry (Ireland) US $ 17.8 billion. Shiv Nader (software) US $ 14.6 billion. Kumar Birla (commodities) US $ 11.8 billion. UdayKotak US $ 10.7 billion. Nawaz Sharif's friend Jindal (steel) is worth US $ 8.8 Billion.
5. Women are Prominent. The richest woman is Alice Walton of Walmart, valued at US $ 46 billion. Francoise Bettencourt already mentioned. Suzan Klalten (BMW. Pharma) weighs in at US $ 25 billion. Jarquline Mars (candy) is worth US $ 23.6 billion. Yang Huiyan (China. real estate) is worth US $ 21.9 Billion. Laurence Powell jobs (Apple, Disney) is worth US $ 18.8 billion. Gina Rinehart (Mining. Australia) is worth US $ 17.4 billion. Iris Foutbone (Chile. Mining) is valued at US $ 16.3 Billion. Charlene de Carvalho Heinken (Beer) is worth US $ 15.8 billion.
6. Surprisingly there is no mention of the Arab kingpins. But the list does not cover 'Royals'. Prince Al-Waleed Bin Talal could easily make the list, even after his 3 month stay at the Ritz Carlton, Riyadh. The Richest 'African' is Aliko Dangote (cement, sugar, flour) of Nigeria worth US $ 14.1 billion.
(The writer is the former Executive Director of the Management Association of Pakistan)