The statue was dedicated on October 28, The Statue of Liberty is a figure of Libertas , a robed Roman liberty goddess. A broken chain lies at her feet as she walks forward. The statue became an icon of freedom and of the United States, a national park tourism destination, and is a welcoming sight to immigrants arriving from abroad. Because of the post-war instability in France , work on the statue did not commence until the early s.
In , Laboulaye proposed that the French finance the statue and the U. Bartholdi completed the head and the torch-bearing arm before the statue was fully designed, and these pieces were exhibited for publicity at international expositions. The torch-bearing arm was displayed at the Centennial Exposition in Philadelphia in , and in Madison Square Park in Manhattan from to Fundraising proved difficult, especially for the Americans, and by work on the pedestal was threatened by lack of funds. The statue was built in France, shipped overseas in crates, and assembled on the completed pedestal on what was then called Bedloe's Island.
The statue's completion was marked by New York's first ticker-tape parade and a dedication ceremony presided over by President Grover Cleveland. The statue was administered by the United States Lighthouse Board until and then by the Department of War ; since it has been maintained by the National Park Service.
Public access to the balcony around the torch has been barred for safety since In after-dinner conversation at his home near Versailles , Laboulaye, an ardent supporter of the Union in the American Civil War , is supposed to have said: In order to honor these achievements, Laboulaye proposed that a gift be built for the United States on behalf of France. Laboulaye hoped that by calling attention to the recent achievements of the United States, the French people would be inspired to call for their own democracy in the face of a repressive monarchy.
Bartholdi was in any event busy with other possible projects; in the late s, he approached Isma'il Pasha , Khedive of Egypt , with a plan to build Progress or Egypt Carrying the Light to Asia ,  a huge lighthouse in the form of an ancient Egyptian female fellah or peasant, robed and holding a torch aloft, at the northern entrance to the Suez Canal in Port Said. Sketches and models were made of the proposed work, though it was never erected. There was a classical precedent for the Suez proposal, the Colossus of Rhodes: Any large project was further delayed by the Franco-Prussian War , in which Bartholdi served as a major of militia.
In the war, Napoleon III was captured and deposed. Bartholdi's home province of Alsace was lost to the Prussians , and a more liberal republic was installed in France. Arriving at New York Harbor , Bartholdi focused on Bedloe's Island now named Liberty Island as a site for the statue, struck by the fact that vessels arriving in New York had to sail past it. He was delighted to learn that the island was owned by the United States government—it had been ceded by the New York State Legislature in for harbor defense.
It was thus, as he put it in a letter to Laboulaye: Grant , who assured him that it would not be difficult to obtain the site for the statue. Bartholdi had made a first model of his concept in Bartholdi continued to develop the concept following his return to France. One of these was the Lion of Belfort , a monumental sculpture carved in sandstone below the fortress of Belfort , which during the war had resisted a Prussian siege for over three months.
Bartholdi and Laboulaye considered how best to express the idea of American liberty. Columbia had supplanted the earlier figure of an Indian princess , which had come to be regarded as uncivilized and derogatory toward Americans. A Liberty figure adorned most American coins of the time,  and representations of Liberty appeared in popular and civic art, including Thomas Crawford 's Statue of Freedom atop the dome of the United States Capitol Building.
Artists of the 18th and 19th centuries striving to evoke republican ideals commonly used representations of Libertas as an allegorical symbol. In this painting, which commemorates France's July Revolution , a half-clothed Liberty leads an armed mob over the bodies of the fallen. Crawford's statue was designed in the early s. It was originally to be crowned with a pileus , the cap given to emancipated slaves in ancient Rome. Secretary of War Jefferson Davis , a Southerner who would later serve as President of the Confederate States of America , was concerned that the pileus would be taken as an abolitionist symbol.
He ordered that it be changed to a helmet. Instead, he used a diadem , or crown, to top its head. Bartholdi's early models were all similar in concept: According to popular accounts, the face was modeled after that of Charlotte Beysser Bartholdi, the sculptor's mother,  but Regis Huber, the curator of the Bartholdi Museum is on record as saying that this, as well as other similar speculations, have no basis in fact. He gave it bold classical contours and applied simplified modeling, reflecting the huge scale of the project and its solemn purpose.
The surfaces should be broad and simple, defined by a bold and clear design, accentuated in the important places. The enlargement of the details or their multiplicity is to be feared. By exaggerating the forms, in order to render them more clearly visible, or by enriching them with details, we would destroy the proportion of the work.
Finally, the model, like the design, should have a summarized character, such as one would give to a rapid sketch.
Only it is necessary that this character should be the product of volition and study, and that the artist, concentrating his knowledge, should find the form and the line in its greatest simplicity. Bartholdi made alterations in the design as the project evolved. Bartholdi considered having Liberty hold a broken chain, but decided this would be too divisive in the days after the Civil War. The erected statue does stride over a broken chain, half-hidden by her robes and difficult to see from the ground. By , France was enjoying improved political stability and a recovering postwar economy.
Growing interest in the upcoming Centennial Exposition in Philadelphia led Laboulaye to decide it was time to seek public support. With the announcement, the statue was given a name, Liberty Enlightening the World. Initially focused on the elites, the Union was successful in raising funds from across French society.
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Laboulaye's political allies supported the call, as did descendants of the French contingent in the American Revolutionary War. Less idealistically, contributions came from those who hoped for American support in the French attempt to build the Panama Canal. The copper may have come from multiple sources and some of it is said to have come from a mine in Visnes , Norway,  though this has not been conclusively determined after testing samples.
Although plans for the statue had not been finalized, Bartholdi moved forward with fabrication of the right arm, bearing the torch, and the head. The exhibition grounds contained a number of monumental artworks to compete for fairgoers' interest, including an outsized fountain designed by Bartholdi. During his second trip to the United States, Bartholdi addressed a number of groups about the project, and urged the formation of American committees of the Franco-American Union.
Hayes , who took office the following day, selected the Bedloe's Island site that Bartholdi had proposed. On his return to Paris in , Bartholdi concentrated on completing the head, which was exhibited at the Paris World's Fair. Fundraising continued, with models of the statue put on sale. The head and arm had been built with assistance from Viollet-le-Duc, who fell ill in He soon died, leaving no indication of how he intended to transition from the copper skin to his proposed masonry pier.
Eiffel opted not to use a completely rigid structure, which would force stresses to accumulate in the skin and lead eventually to cracking. A secondary skeleton was attached to the center pylon, then, to enable the statue to move slightly in the winds of New York Harbor and as the metal expanded on hot summer days, he loosely connected the support structure to the skin using flat iron bars  which culminated in a mesh of metal straps, known as "saddles", that were riveted to the skin, providing firm support. In a labor-intensive process, each saddle had to be crafted individually.
Eiffel's design made the statue one of the earliest examples of curtain wall construction, in which the exterior of the structure is not load bearing , but is instead supported by an interior framework. He included two interior spiral staircases , to make it easier for visitors to reach the observation point in the crown. The change in structural material from masonry to iron allowed Bartholdi to change his plans for the statue's assembly. He had originally expected to assemble the skin on-site as the masonry pier was built; instead he decided to build the statue in France and have it disassembled and transported to the United States for reassembly in place on Bedloe's Island.
In a symbolic act, the first rivet placed into the skin, fixing a copper plate onto the statue's big toe, was driven by United States Ambassador to France Levi P. He was succeeded as chairman of the French committee by Ferdinand de Lesseps , builder of the Suez Canal. The completed statue was formally presented to Ambassador Morton at a ceremony in Paris on July 4, , and de Lesseps announced that the French government had agreed to pay for its transport to New York.
The committees in the United States faced great difficulties in obtaining funds for the construction of the pedestal. The Panic of had led to an economic depression that persisted through much of the decade. The Liberty statue project was not the only such undertaking that had difficulty raising money: In the years following the Civil War, most Americans preferred realistic artworks depicting heroes and events from the nation's history, rather than allegorical works like the Liberty statue. Bartholdi and our French cousins had 'gone the whole figure' while they were about it, and given us statue and pedestal at once.
The foundation of Bartholdi's statue was to be laid inside Fort Wood , a disused army base on Bedloe's Island constructed between and Since , it had rarely been used, though during the Civil War, it had served as a recruiting station. The statue's foundation and pedestal were aligned so that it would face southeast, greeting ships entering the harbor from the Atlantic Ocean. Within months, Hunt submitted a detailed plan, indicating that he expected construction to take about nine months.
Hunt's pedestal design contains elements of classical architecture, including Doric portals, as well as some elements influenced by Aztec architecture. The four sides are identical in appearance. Above the door on each side, there are ten disks upon which Bartholdi proposed to place the coats of arms of the states between and , there were 38 U.
Above that, a balcony was placed on each side, framed by pillars. Bartholdi placed an observation platform near the top of the pedestal, above which the statue itself rises. Financial concerns again forced him to revise his plans; the final design called for poured concrete walls, up to 20 feet 6. His work involved design computations, detailed fabrication and construction drawings, and oversight of construction. Fundraising for the statue had begun in The committee organized a large number of money-raising events.
She initially declined, stating she could not write a poem about a statue. At the time, she was also involved in aiding refugees to New York who had fled anti-Semitic pogroms in eastern Europe. These refugees were forced to live in conditions that the wealthy Lazarus had never experienced. She saw a way to express her empathy for these refugees in terms of the statue.
Even with these efforts, fundraising lagged. With the project in jeopardy, groups from other American cities, including Boston and Philadelphia, offered to pay the full cost of erecting the statue in return for relocating it. New Yorkers displayed their new-found enthusiasm for the statue. Two hundred thousand people lined the docks and hundreds of boats put to sea to welcome the ship.
Even with the success of the fund drive, the pedestal was not completed until April Immediately thereafter, reassembly of the statue began. Eiffel's iron framework was anchored to steel I-beams within the concrete pedestal and assembled. Nevertheless, no one died during the construction. Instead, Bartholdi cut portholes in the torch—which was covered with gold leaf —and placed the lights inside them. A ceremony of dedication was held on the afternoon of October 28, President Grover Cleveland, the former New York governor, presided over the event.
President Cleveland headed the procession, then stood in the reviewing stand to see bands and marchers from across America. General Stone was the grand marshal of the parade. The route began at Madison Square , once the venue for the arm, and proceeded to the Battery at the southern tip of Manhattan by way of Fifth Avenue and Broadway , with a slight detour so the parade could pass in front of the World building on Park Row.
As the parade passed the New York Stock Exchange, traders threw ticker tape from the windows, beginning the New York tradition of the ticker-tape parade. A nautical parade began at A French flag draped across the statue's face was to be lowered to unveil the statue at the close of Evarts's speech, but Bartholdi mistook a pause as the conclusion and let the flag fall prematurely. The ensuing cheers put an end to Evarts's address.
Depew concluded the speechmaking with a lengthy address. No members of the general public were permitted on the island during the ceremonies, which were reserved entirely for dignitaries. The only females granted access were Bartholdi's wife and de Lesseps's granddaughter; officials stated that they feared women might be injured in the crush of people.
The restriction offended area suffragists , who chartered a boat and got as close as they could to the island. The group's leaders made speeches applauding the embodiment of Liberty as a woman and advocating women's right to vote. Shortly after the dedication, The Cleveland Gazette , an African American newspaper, suggested that the statue's torch not be lit until the United States became a free nation "in reality":.
The expression makes us sick. This government is a howling farce. It can not or rather does not protect its citizens within its own borders. Shove the Bartholdi statue, torch and all, into the ocean until the "liberty" of this country is such as to make it possible for an inoffensive and industrious colored man to earn a respectable living for himself and family, without being ku-kluxed , perhaps murdered, his daughter and wife outraged, and his property destroyed. The idea of the "liberty" of this country "enlightening the world," or even Patagonia , is ridiculous in the extreme.
When the torch was illuminated on the evening of the statue's dedication, it produced only a faint gleam, barely visible from Manhattan. The World characterized it as "more like a glowworm than a beacon. The United States Lighthouse Board took over the Statue of Liberty in and pledged to install equipment to enhance the torch's effect; in spite of its efforts, the statue remained virtually invisible at night. When Bartholdi returned to the United States in , he made additional suggestions, all of which proved ineffective.
He did successfully lobby for improved lighting within the statue, allowing visitors to better appreciate Eiffel's design. The statue rapidly became a landmark. Many immigrants who entered through New York saw it as a welcoming sight. Oral histories of immigrants record their feelings of exhilaration on first viewing the Statue of Liberty. One immigrant who arrived from Greece recalled:. I saw the Statue of Liberty. And I said to myself, "Lady, you're such a beautiful!
Give me a chance to prove that I am worth it, to do something, to be someone in America. Originally, the statue was a dull copper color, but shortly after a green patina , also called verdigris , caused by the oxidation of the copper skin, began to spread. As early as it was mentioned in the press; by it had entirely covered the statue. The Corps of Engineers also installed an elevator to take visitors from the base to the top of the pedestal.
Carloads of dynamite and other explosives that were being sent to Britain and France for their war efforts were detonated, and seven people were killed. The statue sustained minor damage, mostly to the torch-bearing right arm, and was closed for ten days. The narrow ascent to the torch was closed for public-safety reasons, and it has remained closed ever since.
He claimed over 80, contributors, but failed to reach the goal. The difference was quietly made up by a gift from a wealthy donor—a fact that was not revealed until An underwater power cable brought electricity from the mainland and floodlights were placed along the walls of Fort Wood. Gutzon Borglum , who later sculpted Mount Rushmore , redesigned the torch, replacing much of the original copper with stained glass. On December 2, , President Woodrow Wilson pressed the telegraph key that turned on the lights, successfully illuminating the statue.
After the United States entered World War I in , images of the statue were heavily used in both recruitment posters and the Liberty Bond drives that urged American citizens to support the war financially. This impressed upon the public the war's stated purpose—to secure liberty—and served as a reminder that embattled France had given the United States the statue. The WPA also carried out restoration work within the statue, temporarily removing the rays from the statue's halo so their rusted supports could be replaced. Rusted cast-iron steps in the pedestal were replaced with new ones made of reinforced concrete;  the upper parts of the stairways within the statue were replaced, as well.
Copper sheathing was installed to prevent further damage from rainwater that had been seeping into the pedestal. During World War II, the statue remained open to visitors, although it was not illuminated at night due to wartime blackouts. It was lit briefly on December 31, , and on D-Day , June 6, , when its lights flashed "dot-dot-dot-dash", the Morse code for V, for victory. New, powerful lighting was installed in —, and beginning on V-E Day , the statue was once again illuminated after sunset. The lighting was for only a few hours each evening, and it was not until that the statue was illuminated every night, all night.
The act also mentioned the efforts to found an American Museum of Immigration on the island, which backers took as federal approval of the project, though the government was slow to grant funds for it. The museum's backers never provided it with an endowment to secure its future and it closed in after the opening of an immigration museum on Ellis Island.
Beginning December 26, , 15 anti-Vietnam War veterans occupied the statue, flying a US flag upside down from her crown. Hamdan, Mohammad, and Ahmed. The people of Dubai revere him as a benevolent source of grants for building houses or plots of land for wedding gifts. When Keizo's father, Shinjiro Torii, founded Suntory in , it was known only as a whiskey distiller.
Under Keizo, whose surname is Saji for reasons so foggy not even the company knows why, Suntory added beer, wine, and soft drinks to its liquor cabinet. Keizo is well liked, but has been known to put his foot in it. Last year, during the Japanese stock market scandals, he announced: At pounds, investor Warren Buffett is worth 5, times his weight in gold, but you don't have to tell that to shareowners of Berkshire Hathaway. In June, Buffett stepped down from the job as Salomon Inc. Like many self-made rich people, Buffett prides himself on frugality: The Bass family's inherited oil fortune is growing faster than this clan of Yale and Stanford grads can give it away.
But ecopreneur Edward is trying by footing most of the bill for Biosphere 2. You can only wear so many clothes. I've got some nice paintings. Now I'm not buying any more. I don't have anyplace to hang them. Internecine strife continues among the four Koch boys, though in May, David magnanimously congratulated William for winning the America's Cup yachting finals.
Luckily premium liquors haven't suffered the same luxury backlash as impressionist paintings and couture. In fact, the Bronfmans have been dumping lower-margin brands -- when health-conscious North Americans tipple, they don't want to waste it on second-rate stuff. The Guinness family was active in their brewery for years until the third earl resigned from the board in June and subsequently died of throat cancer. Now the fourth earl, son of No.
At 40, when other men were starting their midlife crises, Beisheim launched the retailing business that would make him a billionaire, and the richest Swiss. Nearly 30 years later Metro is still eating up companies, most recently trying for Asko Group, which Beisheim is going after with the help of a fellow ten-digit nabob, Klaus Jacobs see below and other investors. While Mahler-loving Gordon composes in California, ex-heroin user J. Paul tightens the security at his Wormley Estate.
But some troubles penetrate even the best security. Littlewoods's profitable football pools are being threatened by the prospect of a government-sponsored national lottery. No problem, says Chairman Leonard van Geest, who is rumored to be diversifying into sports broadcasting and retailing in St. Littlewoods is the first major British retailer in Russia. The tenacious and enduring beauty queen still occasionally tests fragrances for her company but no longer manages its day- to-day operations. That job falls to her older son, Leonard, who is trying to apply Youth Dew to his company's increasingly middle-aged image.
The sixth Duke of Westminster claims he and wife Natalia weren't going for the ''heir and a spare'' when she gave birth to first son Hugh after two daughters. But with Natalia expecting a fourth child in October, it looks like the spare -- and the inheritance of the duke's title -- may be safely in place.
Nicknamed the ''Green Billionaire'' for his ecological zeal, Haub's been pretty zealous about enlarging his empire too. Konrad Henkel no longer chairs the chemical business his grandfather founded, and the company is being run by professional managers. In Konrad's view, this is just as it should be. But he still shows up at functions, and his modern art remains in the halls of the company's 19th-century administrative building where it puzzles the employees.
His wife Gabriele continues to give her lavish parties. Masatoshi introduced American-style distribution to Japan through his supermarkets, then dotted the country with Yankee-like fast-food joints. Stavros Niarchos and Aristotle Onassis spent their lives competing for premier status in the shipping world -- and in the bedroom.
Both were married to the same woman, Christina Livanos, but apparently neither succeeded in making her happy. Niarchos won the longevity contest, but his health is now so frail that he claims, ''I am concentrating what little energy I have on staying alive. King Fahd's full brother is the Saudi Defense Minister and second in line to the throne.
Like Fahd, Sultan is generous. Though Herbert Quandt's widow is still staying out of the spotlight, BMW, the company her late husband bailed out in , sure isn't. Stefan just came into his inheritance this year -- but what car does the BMW boy buy to celebrate? A common Japanese saying is that if you work twice as hard as the average person, you will succeed.
Since Yasuo Takei thinks success comes from working seven times as hard as average, it's no wonder that, having founded Takefuji in , his bank account now dwarfs those of mere two-timers. Five years ago image-conscious Takei quit smoking so that the global community wouldn't look upon him as ''worthless. Bubble-gum promoter Shin was born in Korea and still makes it his home, but he founded the Lotte Group in Japan and is more fluent in Japanese than in his native tongue. Never one to miss possible promotion opportunities for his confections, Shin Kyuk-Ho owns Lotte Giants baseball team.
You do make a few contacts after nearly years in business, so Takenaka Komuten, founded in , was engaged to build Emperor Hirohito's residence in Tokyo, and subsequently awarded the contract to construct the elaborate facilities for his funeral. More modern projects include the Tokyo Bay bridge. Of course, Li does collect a dividend or two. He once accumulated jade, but gave up the hobby after breaking a favorite piece; and he still lives in the same hilltop house he moved into 30 years ago. Japanese real estate prices dipped this year, but Shino's doubled; his main holding is close to the international airport under construction near Osaka.
Their late father would be proud: Self-made Tak-Seng got his start as a zipper salesman and educated his sons in British schools even though he never learned English himself. With money from his onetime comrades-in-arms, he invested in the factory, then sold it and put the proceeds into dilapidated fishing fleets. In the early s, Angelini bought out his partners and then moved sagaciously on to trees and oil.
William Randolph Hearst never gave his sons control of the company while he was alive. Now, 41 years after his death, the Hearstlings still play a minor role in the publishing corporation that has been likened to a Medici court -- where all is favoritism. It's not easy to get the inside scoop on the all- seeing, all-controlling Irving family -- employees caught blabbing to journalists about corporate business know they will be fired.
But since the Irvings employ roughly one in 12 people in New Brunswick and would like to have a similarly impressive count in the northern U. Tsai Wan-Lin wasn't too surprised when his firm was denied a banking license in ; another branch of his family was involved in a banking scandal five years earlier. But he's still a long way from the days when he and his brothers ran a fruit and vegetable stand to pay the rent. This has not been a good year for Chairman Agnelli. The Fiat automotive business has been hemorrhaging market share in Italy and throughout Europe.
And an unsuccessful attempt to swallow Perrier, the French sparkling water company, left the , family expecting a sizable capital gain, but it got instead a very bitter aftertaste as Nestle grabbed the bottle from them. Mongkol Kanchanapas took his profits from selling watches and invested them in land; just 30 years later because of booming land values, the family is sitting on Thailand's biggest fortune. The Thai government awarded Keree's Tanayong Co. He came, he saw, he conquered, he slipped, he quit.
That's the story of Ross Perot's not- quite presidential campaign. Having been a leader building movie theaters across the country, Redstone has decided to turn his attention elsewhere because, he says, ''the film industry is no longer recession resistant. His grandchildren call him ''Grumpy,'' a name he chose because, he says, ''It has no age connotations and because it's consistent with what some people say is my personality -- which is not true.
Garry's ABF is still digesting British Sugar, which he bought last year to prepare for increased competition from European Community members. Galen's Canadian Loblaws and Holt-Renfrew are suffering from the Canadian recession, but the polo-playing socialite distracts himself whacking the ball around with Prince Charles. Here's one solution to sibling rivalry: Split the empire geographically and stay off each other's turf.
This strategy seems to work: Berlusconi was recently voted most popular man by Italian school kids, far outranking Jesus Christ and Michael Jackson. He's a little less popular with the Italian government, which ruled recently that his ownership of Milan's Il Giornale newspaper gave him an illegal monopoly of the media. So Silvio sold it to his brother, Paolo. Their first venture, an air charter and flying school, crashed three years after its takeoff in They bought a schooner for Caribbean cruises, but it soon sank.
Undaunted, they created Amway in The past 12 months haven't been the happiest for Flick, whose pelf comes from his sale of various companies to Deutsche Bank. A mistress he had paid to keep quiet about their affair and her abortion 32 years ago told friends who blackmailed Flick. Flick denied it was his child though he paid for the abortion. He successfully sued the friends, and the sordid mess became public. But the money, some 0. Every little bit helps. Legend has it that Lawrence and Horace's father, Sir Elly, left Baghdad in and eventually went to Shanghai, where he began working as a clerk for distant relatives.
If cleanliness isn't next to godliness, it's way ahead of whatever is. The Al Rajhi banking business has come a long way from the s, when Sulaiman buried gold bullion in the ground near Jiddah's airport and slept on it overnight before he caught the morning flight to Riyadh, where it brought a higher price. But the family is by no means modern. The bank's offices still use makeshift partitions and threadbare carpets, and the four brothers have over children among them.
Though still on the lam to evade U. He's busy negotiating with the U. But a recent Supreme Court ruling opening the door for the American government to kidnap criminals from other countries may force him to accelerate negotiations. Paul Sacher and his late wife, Maja Hoffmann, had a partnership in more ways than one. The landscaper's son met the rich widow through their mutual interest in music and rekindled her interest in the company. When she died, her stake was split between Sacher and the two children Lucas Hoffmann and Vera Oeri-Hoffmann of her first marriage.
But Sacher has continued to build up his holdings. Baron ''Heini'' has so little interest in running his company and so much interest in spending its proceeds that eldest son George is said to have demanded his father cut back. Selling his private jet and luxury yacht was hard for the Swiss- born Baron and his fifth wife, Tita. You could never accuse Amway of ignoring a potential market. Van Andel and Richard DeVos expanded operations to Brazil, Portugal, and Indonesia this year alone and are considering China as the site for a new manufacturing plant.
Busushima founded his upright pinball machine maker in , but the company didn't take off until with the ''Fever'' line of pachinkos. Fever incorporates a slot machine and is called digi-pachi for the numbers that come up on the slots. When Sankyo was finally listed on the Tokyo stock exchange last year, Busushima exclaimed, ''If I weren't prohibited by law, I'd buy our company's stock now! Last fall John, head of Noro Group, an investment firm, successfully defended himself against charges that he manipulated the firm's funds to maximize the brothers' profits.
But in June the family sold its massive stake in Noro and sank the money into another investment firm. Even a billionaire has got to plan for his retirement.
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Then he moved to Swiss tax heaven to enjoy his golden years. Who needs Social Security? Liem Sioe Liong, known as Sudono Salim in Indonesia, is the proprietor of perhaps the biggest and most diversified business conglomerate in Asia. He is often surprised to discover he owns a certain company -- even after he has witnessed the ceremonial ribbon cutting.
Takeover artist Slim is an influential member of the informal group of 38 businessmen who are attempting to elevate Mexico from Third to First World. Like many a gringo raider, Slim has bought terminally inefficient companies and brought them back to life by boosting their productivity. In a state better known for oil tycoons, Ed Gaylord makes his billions from ink. But the blunt right- winger despises the press in spite of profits that gush from his newspaper, television, and radio conglomerate.
Maybe that's because Gaylord is second- generation richfolk, who had to wait until he was 55 to run the family biz. This was a year of startling business highs and staggering personal lows for the Schmidheiny freres. Their father, Max, and their younger brother, Alexander, both died.
But Stephan, the co-author of Changing Course, a best-seller on ecology, played a starring role at the Earth Summit in Rio. Thomas has taken over Alexander's award-winning California winery. It seems that Bettencourt's tidy arrangement with Nestle may soon fall apart. Nestle owns a controlling share of L'Oreal, and now Nestle Chief Helmut Maucher says he has an option to acquire Bettencourt's remaining share of the company in She claims this is news to her, and it's easy to see why she wants to hang on to L'Oreal -- it has made her the richest woman in France.
When brothers August and Wilhelm von Finck split the family fortune in , August took the companies and Wilhelm took most of the land. Since then Wilhelm has been relaxing on his acres while August has tried to engineer a turnaround at the Movenpick restaurant and hotel conglomerate he bought in February. Emilio Azcarraga -- otherwise known as El Tigre -- is the Ted Turner of Spanish-language entertainment, minus the movie-star wife. Giants; stakes in various banks. Larry's last-minute bid to play Santa to R.
Macy failed when Prudential Insurance, a leading Macy's creditor, decided to play Scrooge. But CBS has finally reemerged as the king of the Nielsen ratings, and some of those doggy bank stocks proved to be greyhounds after all. Now if the Giants were only worth watching again. Today his publications, which include PC Magazine, are as thick as telephone books with advertising the rest of the industry pines for, and Ziff had the wherewithal to launch six computer magazines in the past 12 months.
Ironically, the only people who can afford Sweden's stiff taxes are the ones, like Kamprad, who move to Switzerland to avoid them. Having discovered that ''It's a big country. Eastern Europe is pretty unfurnished too, and Kamprad's stores are now popping up there ready to decorate. The Oetkers claim that their company has turned a profit every one of its years, and papa Rudolf is going to make sure it stays that way.
Statue of Liberty
With every hausfrau and hausherr in Germany baking with Oetker products, there are a lot of thick waistlines at stake. Rudolf's son August, 48, officially runs the conglomerate, but Dad assembled a management team of three outsiders to watch over the young whippersnapper. Olayan behaves much like a Western -- read American -- capitalist. Even his wife, Mary, is American born. But soon he may have to bid farewell to that exotic land and head home. America's most prolific philanthropist is still looking for paintings to fatten his magnificent art collection.
The Hindujas' fairy tale had a Grimm ending this year. Sri's son, Dharam, died in an apparent suicide pact with his wife, Ninotchka, in May. The two were secretly married in January, but the boy's Hindu parents had opposed his relationship with an Anglo-Indian Catholic. The lovers doused a mattress with paint thinner and set it on fire. Although their hands were bound, Ninotchka freed herself and escaped. Even with stale real estate markets, Genshiro Kawamoto can't build enough houses and apartments in the U. My contribution to society is building affordable houses for ordinary people.
When Reinhard Mohn retired as chairman of Bertelsmann, he told his executives: In only 44 years he managed to turn his father's tiny hymnal publisher into the world's largest media company until the merger of Time Inc. The parallels don't stop there. Chung is a feisty, self-made businessman who has attacked the powerful Roh Tae-woo regime for its economic policies.
His campaign may end early as well. Fifth son Mong-hun was charged with forgery and tax evasion this spring and awaits trial. The accusations have tainted his father's campaign. Davis's whalelike proportions are a good measure of his financial heft. Having sold out at the top of the Denver oil boom many years ago, he continues to make money. Now he is trying to remedy Spectradyne, a pay-per-view TV service, with an exchange of its publicly traded debt for lower-interest-rat e bearing securities.
After taking Consolidated private in the early Eighties, Packer made a U-turn and brought its two largest divisions public over the past year.
That leaves an enviable balance sheet for Packer's successor, Al Dunlap, to pass on to Packer's son, James, who will run the company when Dunlap steps down. Born in Beirut, raised in Brazil, and now living in Switzerland, banker Edmond is still hopping the globe -- here to attend a party, there to accept an award.
Meanwhile, brothers Moise and Joseph, who stayed in Brazil, are moving beyond finance into pulp and papermaking.
A license to print money? To this day, the Andre family has not acknowledged publicly that it controls Garnac, one of the six largest grain traders in the world, and thus a good portion of the earth's daily bread. One reason for the secrecy may be the family's reputed devotion to the Plymouth Brethren religious sect, which demands a life of frugality and humility. The super-private developer has discovered that providing housing for Hong Kong's middle class is a better road to riches than building condos for the capricious smart set. Now Lee has bought land in Guangdong on the mainland, hoping residents will exhibit the same enthusiasm as their colony counterparts.
An old-money Chilean family, the Mattes have a tendency toward molasseslike decision-making, which has kept them from impetuous mistakes -- and also from investment opportunities in other parts of Latin America. The Ottos have big plans for selling goods to the East Germans, although none involve offering them ecologically incorrect fur coats or objects made from tropical woods. Allen co-founded Microsoft with his high school pal Gates but was then diagnosed with Hodgkin's disease.
In , with his illness in remission, Allen created Asymetrix, a software development company, and now he is helping set up Interval Research Corp. After hours Allen shoots baskets in his own backyard court and attends most home Blazer basketball games. Soon enough the inventive retailer will think of another store Americans didn't know they needed. It wasn't just Kathie Lee Gifford's singing voice that made Carnival ''the most popular cruise line in the world. Ted went back home to Tel Aviv to retire from Carnival last year and hit Israel at the same time as the Scud missiles. Meanwhile, the family's National Commercial Bank, Saudi Arabia's largest, has suffered such defaults in its loans to royals that it hasn't issued an annual financial statement in two years.
Now in its th year, mammoth agribusiness corporation Cargill Inc. Ownership is split among the Cargills and the MacMillans see below , who were joined by marriage back in Furukawa has been the world's oldest billionaire for so long that he may live to be the world's oldest person. Still healthy, he stays at home while son Hiromitsu runs his businesses.
Furukawa and his companies are said to be virtually debt-free, and even now the old man pays for his purchases with cash. Fortunately for Rolf's three sisters, Hans settled with them before he died, so they're not stuck with death duties. This must be a lucky year for Hillman -- hardly a mention of his name has appeared in the newspapers. The ultrasecretive plutocrat is thinking ahead and liquidating some of his assets to put his estate in order. Fabled miser Vehbi Koc is still in perfect health, but in June rumors were flying around Turkey that the nonagenarian was not well.
He allowed his grandson Mustafa to have the most luxurious Turkish wedding in three decades. Grandfather Vehbi interfered only to change the menu for the 2, guests from champagne and caviar to traditional Turkish dishes. He did, however, leave the party early to make his usual The commodity that launched Greek industrialist Latsis into the billionaire league was dried fruit.
List of French people
The Latsis Group was born in when his shriveled product was so much in demand that he needed his own ships to facilitate trade. Today, Latsis cultivates relationships with the Prince and Princess of Wales as well as members of the Saudi royal family, who supply him with crude oil. During their sometimes public clashes, LeFrak questioned the wisdom of rival Donald Trump's ''ritzy-glitzy operations,'' as Sam called them. But LeFrak's 92, apartments are still pulling in multimillions in steady rents. Like many of his peers in shipping, Costas Lemos sold off much of his fleet in the late s and early s when he sensed a downturn ahead.
But then he invested heavily in Greek real estate. At first his drachmas dwindled and it looked like the widely respected Lemos had made a bad call, but now prices have quadrupled as everyone expects future Eastern European tourists to spend their zlotys in the Mediterranean. William Wallace Cargill lost the money he had made trading grain when he speculated in real estate over 80 years ago.
The two MacMillan clans are great-grandchildren of founder W. Cargill, whereas the Cargill cousins -- also billionaires -- are his grandchildren. Duncan, who is said to irritate other family members by occasionally speaking frankly about the company, directs Waycrosse, their private investment advisory firm. Al Owais's wealth stems from pearl diving.
The never-married Sultan drives a Chevrolet and still operates his trading company out of the drab office he leased 25 years ago. Packard's story illustrates the cliche ''if at first you don't succeed. It wasn't until Walt Disney bought eight audio oscillators in to monitor the sound system of Fantasia that H-P took off. Patriarch Nicholas Pritzker used to tell his family that the only immortality is the impact you have on your successors. By those standards, Pritzker, who died in , will live forever.
Schickedanz has no intention of letting the company fritter away potential profits for long; her motto is ''The pfennig is the soul of the billion. This reclusive family was already wealthy from its SPAR wholesale business in , when Otto Beisheim approached them looking for investors in Metro Group. Now the company, a cash-and-carry giant that gets around Germany's strict rules about closing times by selling its goods wholesale, has generated so much cash for bruder Schmidt-Ruthenbeck that it's getting difficult for them to continue hiding away in luxury.
A few years back, the two real estate Donalds were worth nearly the same amount, but while Trump cedes chunks of his properties to his banks and bondholders, Bren quietly contemplates the development of his 63, California acres. He says he expects to be shaping the Orange County property into his 90s. Unlike most developers whose time horizons can best be measured in nanoseconds as they scramble to extract capital from one completed project so they can finance the next, Bren works from a plan that could take 35 years to complete.
No longer must Hugo Erb follow the drivers of battered cars to their destinations to persuade them to buy a new auto from one of his dealerships. Now he's grooming sons Rolf, 41, and Christian, 33, to do the chasing. And Christian, a discus thrower who competed at Barcelona but did not make it to the finals, is said to be an even more persistent salesman than his father. Last year the Ferruzzis unceremoniously kicked brother-in-law Raul Gardini out of the chairmanship of Ferruzzi Finanzaria.
Because he thought business was more practical, Afrikaner Anton Rupert graduated from college with a degree in applied chemistry instead of the medical degree he yearned for. Alain Wertheimer's grandfather Pierre started selling Chanel No. Today, Chairman Alain is still in the luxury racket, but he is not interested in special touches. When he heard that a flower arrangement had been ordered for a board meeting, he complained that there would be too much decoration to get work done.
How's this for supersonic speed? In , Chang Yung-fa set up Taiwan's first privately owned international airline. Tic Tac, Nutella, Ferrero Rocher pralines. In Europe, a Nutella-and-bread snack is as common for children as milk and cookies is in the U. Michele, who runs the company from Brussels, is so obsessed with duplicating the Nutella phenomenon that top Ferrero managers are compelled to attend weekly blind taste tests in which Michele's concoctions are presented with other sweets.
As a result, children are now munching on Ferrero's Kinder candies, heavy on the milk and light on the chocolate. Donald, who used to be a real estate developer, started the private-label line of casual clothes in because he wanted to be different. Today the Gap's ''basic'' statement about dressing has been copied throughout the retail industry and by such trendies as Giorgio Armani. Known as the ''Boss of Kagoshima,'' Iwasaki follows the basic philosophy of buy land now, figure out what to do with it later. If I have land, I can start a business whenever I like.
The Koos were one of the leading landowning families in central Taiwan when Chiang Kai-Shek seized the land in the s and compensated the owners with stock in government-owned companies. The Koos got a stake in Taiwan Cement, and money has been pouring into their pockets ever since. Jeffrey, left fatherless as a boy and raised by his uncle C. Malaysian by birth and Chinese by ancestry, Kuok learned his business basics in Pop's grocery store and traded commodities in World War II's feverish market. The former ''King of Sugar'' now focuses on real estate development on the mainland, trying to prove he's a good citizen in preparation for The Mann family's hypermarkets failed to excite Americans in the early Eighties, but shopping in virtual stadiums is popular among Germans.
Son Johannes studied business at NYU, perfected his Yankee accent, and snagged an American wife before taking over from his father in How much good fortune can one man handle? The Wus are the epitome of the Taiwanese success story. Patriarch Ho-Su Wu, who was uneducated, sold cloth during the Japanese occupation, and after WWII branched out into department stores, life and property insurance, and natural gas.
His children now run the conglomerate he left behind when he died in A new generation of Davis boys runs the company with A. Dano Davis, son of James E. As a result, the Sunbelt's biggest supermarket chain no longer wilts in the heat of new competition, and boasts record earnings.
Only two of the four founding brothers are still alive; M. Austin died in January. Stepchildren of Paul Sacher, Luc and Vera inherited half of mother Maja Hoffmann's stake in the pharmaceutical company that bears her name. Luc grooves on zoology and Vera on art. But now that Luc and Vera's husband hold positions in the company, the kids are dutifully getting interested in drugs.
Oregon's only billionaire launched the nation's most successful athletic footwear company by peddling track shoes from the trunk of a car. Thirty years on, smart advertising and endorsements by super-athletes like Bo Jackson and Andre Agassi are doing the selling for him and catapulting Nike to a fifth straight year of record profits. German-born Hans Liebherr is looking to rebuild his homeland yet again. Now he's planning to beat Caterpillar and Komatsu in repairing Eastern Germany.
But don't expect Liebherr to overextend his company to handle the new business. Having pulled News Corp. He has taken the place of Barry Diller, but he's got a lot to learn about dramatic effect. He fired Fox exec Stephen Chao after Chao delivered a speech on censorship while a male stripper proceeded to take it off -- all off -- in front of an appalled Murdoch and some important guests. The man who made his fortune in taters that he sold to McDonald's has now gone high tech. But will he enjoy it as much? He still eats a Mcbreakfast every morning, but he can't eat his Micron stake.
Along with his late brother, Witt, ''Mr. Jack'' followed the advice of their cotton-farming pa, who once said, ''Don't be ashamed of your poverty, and don't be proud of it; just get rid of it as quickly as you conveniently can. Now that its focus has shifted from real estate to resort development, Tsutsumi wants to update his company's image. So last March he shortened its name to Kokudo.
Since the Olympic winter games will be held near his Nagano resort, Tsutsumi is lobbying the committee to use the resort's ski slopes. He's also trying to corner the market on Olympic-related construction contracts. For forty years Taisho Pharmaceutical has convinced Japanese workers that Lipovitan health drink will cure the side effects of living at the office. But this year sales were flat for the first time. Are employees sloughing off?
Of course not, says Uehara's CEO son-in- law. People like to drink health drinks when it's warm. The world's largest consumer of combed wool is looking to clothe the moneyed masses in China, Poland, Turkey, Egypt, and India. At 15, Cheng Yu- tung fled to Macau to escape the invading Japanese. There he became an apprentice in a gold shop, winning the hearts of both the owner and his marriageable daughter and expanding the business until he became known as Hong Kong's ''King of Jewelry.
It's no wonder that Carlo De Benedetti says his day stint as deputy chairman of the Ambrosiano Bank in is the one job he regrets taking. In April De Benedetti was convicted of contributing to the bank's fraudulent bankruptcy and sentenced to six years and four months in prison.
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