Blackstone’s Schwarzman tops Forbes’ debut Money Masters list
Forbes' first-ever 'Money Masters' list ranked the top 40 financiers in the financial world. Stephen Schwarzman- CEO of the Blackstone Group (net worth $10.2 billion) topped the list; he oversees assets worth $344 billion. He was followed by David Tepper- Founder & President of Appaloosa Management (net worth $11.4 billion), and Jamie Dimon- CEO of JPMorgan Chase & Company (net worth $700 million).
'Forbes' is an American global business magazine published by Forbes Inc, with its headquarters in New Jersey. It was founded in 1917 by BC Forbes and Walter Drey in New York. In 2014, Forbes had moved to the Jersey City. The bi-weekly magazine is popular for its rankings and lists released annually, which list out the top companies, entrepreneurs, and other related fields.
Apart from Forbes magazine, several other publication titles of Forbes Inc. include Forbes Life, Forbes Asia, Forbes On Radio, ForbesWoman, American Legacy (till 2007), American Heritage (till 2007), Invention & Technology (till 2007) and Forbes Travel Guide.
The Forbes magazine has launched its debut edition of 'Money Masters: The Most Powerful People in the Financial World'. The list features the top 40 financiers who dominate the 'money' world; right from banking to buyouts and trading to takeovers. The list contains lenders, private equity magnates, hedge fund managers, etc. who regulate the circulation of trillions of dollars in the global economy.
On its website, the Forbes magazine stated, "So we judged the world's top financiers on four factors: net worth, assets under management or overseen, three-year track records and influence on markets."
Uday Kotak, Founder & Executive Vice Chairman-Kotak Mahindra Bank, is the only Indian to appear on the Forbes' list of top 40 financiers in the world. The 57-year-old has a net worth of $7.1 billion and oversees assets worth $34.6 billion. Forbes said that Kotak made his fortune by lending to people and added that he had even taken a stand for savers.
"His bank is continuing to offer 6% 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."
Forbes released two other lists–'World's Most Valuable Brands' and 'World's Most Valuable Soccer Teams'. Apple (brand value $154.1 billion), Google (brand value $82.5 billion), Microsoft (brand value $75.2 billion), Coca-Cola (brand value $58.5 billion), and Facebook (brand value $52.6 billion) occupied the first five places on the list. Real Madrid (team value $3.6 billion) topped the soccer list followed by Barcelona (team-value $3.5 billion).