What do the world's energy billionaires have in common? Look at their portfolios and you will find companies with heavy interests in renewable energy.
In fact, five world's richest names in business have significant interests in electricity assets and utilities, and several of these companies have furthered the development of solar energy and cogeneration plants.
Utility Dive broke down the business players on the Forbes' 2013 list of the world's billionaires (as calculated in March 2013), and picked out these five power-players who seem to have the most invested in the future of power. Check out where their priorities are at:
5. OLEG DERIPASKA
Rank: 131
Net Worth: $8.5 billion
Notable Company: Basic Element
Oleg Deripaska is best known for his aluminum dealings, but is also the owner and chairman of Basic Element. Aside from construction, aviation, manufacturing, financial services and agriculture, Basic Element has a stake in energy. Through En+ Group and EuroSibEnergo, one of the world's largest producers of hydropower, the company is dedicated to increasing the use of hydropower, as well as nuclear power. In the last year, Deripaska, who got close to the brink during the financial collapse, settled several court fights and debts, while protecting most of his assets from creditors.
4. EIKE BATISTA
Rank: 100
Net Worth: $10.6 billion
Notable Company: EBX
Eike Batista was once Brazil’s richest man and boasted about his aspirations of taking the title of ‘world’s richest man’ from Mexico’s Carlos Slim Helu, but his assets have lost two-thirds of their value ($19.4 billion) in the past year. Regardless, MPX, a division of Batista’s EBX group, has several power plants across Brazil and was responsible for the country’s first solar power plant in Taua. The plant’s ouput was doubled via a deal with GE and has 4,680 solar panels that convert sunlight into enough energy to power 1,500 households. Prior to his stocks falling, Batista sold a 5.6% stake in EBX to Mubadala—an Abu Dhabi government investment fund—for $2 billion, and another 0.8% stake to GE for $300 million.
3. ROBERT KUOK
Rank: 76
Net Worth: $12.5 billion
Notable Company: CITIC Pacific Limited
Although Robert Kuok’s fortune comes from his Shangri-La luxury hotel brand, sugar, palm oil, shipping and property, he owns a minority stake in CITIC Pacific. The company is primarily owned by state-run Citic Group in Beijing and operates numerous coal-fired and cogeneration power plants around the Chinese mainland. Kuok is the richest man in Malaysia, and in addition to his other business interests, he owns what was once the world’s most profitable daily newspaper, the South China Morning Post. Kuok is notoriously media-shy and gave his first Western media interview in 16 years to Bloomberg this past January.
2. MUKESH AMBANI
Rank: 22
Net Worth: $21.5 billion
Notable Company: Reliance Industries Limited
India’s richest man, Mukesh Ambani, is chairman and managing director of Reliance Industries Limited, which includes solar energy subsidiary Reliance Solar Group. The solar energy initiative is an extension of the company’s existing power generation operations, which include as many as six gas-based power plants that recently halted operations due to a gas shortage. Ambani and his wife, Nita, are also known for their extravagant parties, and recently threw one in Mumbai for British Prime Minister David Cameron.
1. LI KA-SHING
Rank: 7
Net Worth: $31 billion
Notable Company: Husky Energy
The richest man in Asia, Li Ka-Shing has Canada’s Husky Energy among his largest holdings. The 84-year-old is majority shareholder of the company—which, aside from its oil and natural gas exploration, extraction and retail operations, has a 50% interest in the Rainbow Lake cogeneration power plant. Ka-Shing announced his succession plans last summer, with one son, Victor, taking over management and control of publicly traded assets, while his other son, Richard, will receive cash and help with deals.
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