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Article: United States: Global Crossroads Capital on Billionaire Bank Buyers.(Company overview)
- Article from:
- TendersInfo
- Article date:
- August 13, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sander03
There is an estimated 1,200 billionaires worldwide. 2007- 2008 marks the explosion of bank buyouts. In 7/08 www.wsj.com reported on 2 Russian billionaires that own or are buying shares in banks. One is a 36-year old Belarus-born math whiz who founded MDM Bank, one of Russia's largest banks. The other has been buying into 3% of Deutsche Bank AG and parts of Morgan Stanley and Credit Suisse Group and Royal Bank of Scotland and Belgian-Dutch Fortis NV. There are 74 Russian billionaires and 13 of those are under the age of 40.
This year, Middle Eastern and Asian sovereign wealth funds have funded an estimated $23B in UBS and Merrill Lynch ...
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