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Anil Ambani betting big on US economy

Amid the worsening financial crisis in the US, business publication Forbes names legendary investor Warren Buffett and Indian billionaire Anil Ambani among the world's richest business people.

business Updated: Sep 28, 2008 15:24 IST

Amid the worsening financial crisis in the US, business publication Forbes has named legendary investor Warren Buffett and Indian billionaire Anil Ambani among the world's richest business people who are investing heavily in the American economy.

The US publication Forbes has drawn up a list of the wealthiest people investing huge sums of money even as the American President feels the country's economy is in danger.

"The world's wealthiest business people are still wheeling and dealing even as President Bush warns 'our entire economy is in danger'," the magazine said.

Other names in the list are Hollywood director Steven Spielberg (networth US$ 3.1 billion), American fund manager John Paulson (US$ 4.5 billion), Hong Kong billionaire Li Ka-Shing (US$ 26.5 billion), Russia's Alexander Mamut (US$ 1.2 billion) and Mikhail Prokhorov (US$ 19.5 billion), Thailand's beverage tycoon Charoen Sirivadhanabhakdi (US$ 3.5 billion) and Mexican magnate Carlos Slim Helu (US$ 60 billion).

Last week, Buffett (networth US$ 50 billion) surprised the Wall Street after deciding to invest five billion dollars into Goldman Sachs at a time when the country saw the fall of Lehman Brothers and distressed sale of Merrill Lynch, among others, deepening the financial turmoil.

Ambani, who has a networth of US$ 42 billion is named along with Spielberg for their American film venture. The Indian billionaire's Reliance Entertainment is pumping in about US$ 500 million into the venture.

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