Thursday, November 13, 2008

More billionaires hit with margin calls

Forbes, in its November 17 issue, identified the following five global billionaires hit with substantial margin calls:

Aubrey McClendon
- sold most of his shares in Chesapeake Energy for well over a $1 billion loss

Sumner Redstone
- dumped half his shares in Viacom and CBS, at half its value just a couple of months ago

Oleg Deripaska
- sold $1.5 billion of Magna Intl. and Hochtief for a net loss

Alisher Usmanov
- is "forced to give back a stake now worth $700 million in ... Gazprom"

Kostyantin Zhevago
- the Ukranian billionaire unloaded 21% of Ferrexpo at a sizeable loss