Buffett, Anil Ambani betting big on US economy

A US magazine 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.

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.

HT Image

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 USD 3.1 billion), American fund manager John Paulson (USD 4.5 billion), Hong Kong billionaire Li Ka-Shing (USD 26.5 billion), Russia's Alexander Mamut (USD 1.2 billion) and Mikhail Prokhorov (USD 19.5 billion), Thailand's beverage tycoon Charoen Sirivadhanabhakdi (USD 3.5 billion) and Mexican magnate Carlos Slim Helu (USD 60 billion).

Last week, Buffett (networth USD 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 USD 42 billion is named along with Spielberg for their American film venture. The Indian billionaire's Reliance Entertainment is pumping in about USD 500 million into the venture.