5 Indians on list of top 50 influential people
Ray Dalio, founder of Bridgewater Associates, boasts 15% annualised returns over two decades for his main hedge fund and 25.3% this year through August 31 amid extraordinary economic turmoil. He runs more money than any of his macro rivals.business Updated: Sep 12, 2011 21:12 IST
Ray Dalio, founder of Bridgewater Associates, boasts 15% annualised returns over two decades for his main hedge fund and 25.3% this year through August 31 amid extraordinary economic turmoil. He runs more money than any of his macro rivals.
These are the sort of distinctions that have landed him on Bloomberg Markets magazine's first annual list of the 50 Most Influential in global finance.
Dalio also turns out to be an interesting character, making his money based on a set of investment principles (which he won't share) and running his firm based on a set of management principles (which he does).
The Bloomberg Markets list has 49 more fascinating folks, whose comments move markets; whose deals set the value of companies or securities; whose ideas and policies shape corporations, governments and economies. People who matter right now rather than those who have been influential over a long career - although some meet both criteria.
There are episodes in which clout is on display for all to see. Such was the case when Jamie Dimon, at a bankers' conference in Atlanta in June, questioned Ben Bernanke about the possible harm of the financial regulations and higher capital standards the government is imposing. Who but Dimon has the stature to challenge a Federal Reserve chairman in that way?
Indian billionaire Mukesh Ambani, perhaps best known outside his country for his 27-story home in Mumbai (with three helipads and a 50-seat movie theater), embodies the rise of emerging markets in the past decade. After he patched up a feud with brother Anil, Mukesh is being courted by politicians and investment bankers alike - a sign that he, like the 49 other people on the list, has secured a place among the world's most influential.
Like the markets themselves, influence can be fickle. Christine Lagarde, already a force in the European sovereign-debt crisis as France's finance minister, increased her stature when she became managing director of the International Monetary Fund.
Economist Martin Feldstein, a deficit hawk for four decades, finds himself at the centre of the political debate over budget austerity that has swept across the developed world. And yet the former adviser to president Ronald Reagan is also seeing that some of his tax proposals are getting a better reception from Democrats than from fellow Republicans.
(In exclusive partnership with The Washington Post)
First Published: Sep 12, 2011 21:10 IST