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As spectator sports go, reading rich lists is a pretty grim one. Poring over stories about others peoples’ billions is an odd pastime, vulgar and vaguely dirty. There’s also a 300-foot-high flashing neon question-mark over whether they are even accurate.
If they want a piece of the Middle East’s action, businesses have to do a deal with one of the region’s family-owned conglomerates.
Families are often tempted by the idea of teaming up to pool expertise, but the reality can be less enticing than it sounds.
Equity purchases made under duress produce a joyless stock market rally, where people are desperate to preserve their wealth, rather than cheer on recovery.
Ask someone in Hong Kong, or for that matter Los Angles, Rio de Janeiro or Dubai, what their perception is of the state of Europe’s economy and you’ll probably get some pretty standard responses.
You’ve got to give it to the Catholic Church, they do things in style.
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