Outing the Oligarchy - International Forum on Globalization

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— INDIVIDUALS OF UNDUE INFLUENCE — Power Networks: Batista was an ally and large campaign donor to Brazil’s ex-President Lula. Batista current enjoys a similar relationship with Brazil’s new leader, President Dilma Roussef. Both leaders vigorously pursue industrial growth policies that make Brazil one of <strong>the</strong> world’s biggest emitters. Environment: Batista has worked hard to green-wash his enterprises, but with limited success. EBX is absent from <strong>the</strong> Dow Jones Sustainability Index. 13 Having failed to obtain environmental clearance for a shipbuilding plant in Santa Catarina, EBX is now pursuing a license for Rio de Janeiro. 14 In what has been called “one of <strong>the</strong> greatest achievements in environmental recovery in Brazil,” Batista’s EBX Group (in partnership with public institutions) undertook a 30-month Lagoa Limpa (Clean Lagoon) project to restore Lagoa Rodrigo de Freitas, one of Rio de Janeiro’s best-loved landmarks. 15 LI KA-SHING, HONG KONG $26 BILLION [AS OF MARCH 2011] Wealth: Li Ka-shing owns stock in Cheung Kong and Hutchison Whampoa (HW). Through HW, Li is <strong>the</strong> world’s largest operator of container terminals in what is now <strong>the</strong> region through which almost all manufacturing originates for exporting goods across oceans. He is also <strong>the</strong> world’s largest health and beauty retailer (by number of outlets), a real estate developer and a major supplier of electricity to Hong Kong. Li is a majority shareholder in Husky Energy, a Canadian oil firm that recently announced its third oil discovery in <strong>the</strong> South China Sea. 16 Husky Energy is in a joint-venture with BP to develop <strong>the</strong> Sunrise Oil Sands Project in Alberta, Canada (which is proceeding despite BP shareholder concerns over its environmental impact). 17 Power Networks: Li’s powerful allies include Lee Shau Kee of <strong>the</strong> Henderson Land Development, New World Development’s Cheng Yu-tung, casino and property magnate Stanley Ho, <strong>the</strong> Kwok family of Sun Hung Kai Properties, and Henry Fok Ying-tung. Li is regarded as one of Asia’s most generous philanthropists, having donated more than $1.4 billion to charity and o<strong>the</strong>r various causes. 18 Beneficiaries include <strong>the</strong> University of California at Berkeley, which received $40 million from Li to build <strong>the</strong> Li Ka-shing Center for Biomedical and Health Sciences, a new biosciences facility set to be completed in 2011. Li also has - 11 -
— INDIVIDUALS OF UNDUE INFLUENCE — given UC Berkeley’s rival, Stanford University, $90 million for <strong>the</strong> Li Ka-shing Center for Learning and Knowledge, part of Stanford’s School of Medicine. Environment: Nei<strong>the</strong>r Hutchison Whampoa nor Husky Energy are listed on <strong>the</strong> Dow Jones Sustainability Index. 19 MUKESH AMBANI, INDIA $22.6 BILLION [AS OF OCTOBER 2011] Wealth: Mukesh Ambani owns Reliance Industries, India’s largest private-sector conglomerate. 20 His fa<strong>the</strong>r, Dhirubhai H. Ambani, was founder and longtime head of Reliance. After joining Reliance in 1981, Mukesh initiated Reliance’s “backward integration” strategy, expanding <strong>the</strong> company’s acquisitions beyond textiles into polyester fibers and <strong>the</strong>n fur<strong>the</strong>r “backwards” to control <strong>the</strong> petrochemical supplies used to make its syn<strong>the</strong>tic fabrics. Reliance has expanded into petrochemical production, petroleum-refining and oil and gas exploration. Ambani built <strong>the</strong> world’s largest petroleum refinery at Jamnagar, India, with a current capacity of 1.2 million barrels-per-day. The Jamnagar site combines petrochemical operations with power generation that supplies a large port and related infrastructure. 21 Power Networks: Ambani enjoys tight links with Indian government and U.S. government officials. He has met several times with President Obama, most recently in November 2010, when Obama and GE CEO Jeffrey Immelt announced a $750 million deal in which Reliance agreed to purchase turbines manufactured by GE. (Immelt was subsequently named Obama’s chief economic adviser.) Ambani chairs <strong>the</strong> board of Indian Institutes of Management, India’s leading graduate business schools, which conduct research and provide consultancy services in <strong>the</strong> field of management to various sectors of <strong>the</strong> Indian economy. Environment: Ambani owns a controlling interest in Canadian oil sands company Value Creation Inc. (VCI), which has a partnership with BP Canada. 22 According to <strong>the</strong> VCI website: “VCI is responsible for preparing detailed baseline environmental studies to find out and understand <strong>the</strong> potential impacts of <strong>the</strong> Pilot Project on <strong>the</strong> environment. Assessments will be completed in several key areas and submitted to Alberta Environment as part of <strong>the</strong> approval process for <strong>the</strong> Pilot Project. Once <strong>the</strong> Pilot Project is approved, follow up environmental evaluation will be conducted. VCI is committed to minimizing surface disturbance and will - 12 -
Page 1 and 2: OUTING THE OLIGARCHY BILLIONAIRES W
Page 3 and 4: CONTENTS INDIVIDUALS OF UNDUE INFLU
Page 5 and 6: Occupy and Oligarchy</stron
Page 7 and 8: —INDIVIDUALS OF UNDUE INFLUENCE
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Page 57 and 58: NOTES — INDIVIDUALS OF UNDUE INFL
Page 61 and 62: — KOCHTOPUS — - 58 -
Page 63 and 64: — KOCHTOPUS — The Kochs have be
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— KOCHTOPUS — “ALEC campaigns
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— CARLOS SLIM: THE WORLD’S RICH
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HOSPITALITY INDUSTRIAL SUPPLIES CON
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- THE INDIAN OLIGARCHS - While it i
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- THE INDIAN OLIGARCHS - While <str
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- THE INDIAN OLIGARCHS - wealth to
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- THE INDIAN OLIGARCHS - to make wa
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- THE INDIAN OLIGARCHS - meant unde
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- THE INDIAN OLIGARCHS - efficient
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- THE INDIAN OLIGARCHS - resigned i
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- THE INDIAN OLIGARCHS - Importing
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- THE INDIAN OLIGARCHS - 6. SUNIL M
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- THE INDIAN OLIGARCHS - destructio
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- THE INDIAN OLIGARCHS - Chidambara
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- THE INDIAN OLIGARCHS - The govern
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- THE INDIAN OLIGARCHS - 4 Prabhat
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— CHINA: OLIGARCHY IN THE MAKING
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POWER PLAYERS IN TODAY’S GLOBAL E
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HOW MUCH IS A BILLION DOLLARS? —
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— WEALTH, POWER, AND THE FUTURE O
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NOTES — WEALTH, POWER, AND THE FU
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